Every account in the MYOB AccountEdge system must be assigned a classification before it can be used to track your company's fiscal activity. You can choose from eight different account classifications: Asset, Liability, Income, Expense, Equity, Cost of Sales, Other Income and Other Expense. Each classification serves a specific purpose.
If you're not sure which classification you should assign to a new account, consult your accountant or an MYOB Certified Consultant. For more information about AccountEdge Certified Consultants, visit the MYOB website.
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