Double-entry accounting, the standard accounting method used by MYOB products and the accounting profession, requires that every transaction have two or more debit and credit entries that balance; that is, the debit amounts and credit amounts must equal zero. There's nothing magical about these debit and credit entries, but many people find them cumbersome to make, and they can be error prone.
By setting up linked accounts before you enter your first transactions, you reduce the number of entries you have to make, and there are fewer opportunities for typos and other errors that would have to be corrected in order to complete a transaction.
Linked accounts are required, and they should seldom need to be changed once you've chosen the accounts that are right for your business. In fact, if you change your linked accounts frequently, you may find it's more difficult to gauge the state of your business, since transaction information will be spread across a number of accounts.
Using the Easy Setup Assistant, you can change most of the linked accounts for the Accounts, Sales, Payroll and Purchases command centers. You can also change linked accounts using the Linked Accounts window.
In addition, you can change the linked accounts that will be used to track individual payroll categories using the Wages Information window, the Deduction Information window, the Employer Expense Information window and the Tax Table Information window. For a complete listing of step-by-step procedures for changing linked accounts, see To change a linked account.