Account Types can be used to categorize your accounts. For example, accounts are most often categorized by the type of business such as Manufacturing, Advertising, and so on. As more accounts are added to the program, having account types also gives you another level of 'filtering' in order to selectively work with only the accounts you're interested in.
Administrator Authority Required
The setting up, changing, and deleting of account types is performed in the System Setup module. If your user profile is setup with Administrator Authority (SysAdmin), the Setup link will be displayed in the upper right-hand corner of the display screens next to the My Settings and Logout links. If you do not see the Setup link, then your user profile does not have the authority to access the system setup screens.
Accessing The Settings For: Account Type
Select the Setup link at the top of your screen. The System Setup Screen will then be displayed. In the submenu titled Lookup Tables, select the Account Types menu option.
The Account Types screen will then be displayed. An example is shown below:
Adding More Account Types
To add account types, select the New button. A form similar to the Edit form below will be displayed.
Making Changes To Account Types
To view, edit, copy, or delete account types, put a checkmark in the
box 
beside
the type you wish to select. Then, select the appropriate button. For
example, selecting the Edit button
will display a form similar to the one below:
Type
The name for the Account Type.
Active
The active checkbox allows you to activate, or deactivate, account types.
To save any entries or updates, select Finish. The system will return to the previous screen and display the updated list of account types.
Select Back if you wish to discard any changes and return to the Account Types Screen.
Select Close if you want to discard any changes and also exit the Account Types section.
If needed, for an additional level of account categorization, the program also allows the creation of account subtypes. They can also be used when 'filtering' your account views.
The method for creating account subtypes is the same as creating accounts types. The entry and edit screens look and function just like the account type screens.