This option is used to create new master records, edit or delete existing master records for each of the five account types. The general ledger includes two of these account types (Bank Accounts and Tax Accounts). The creditor accounts are those accounts, which are maintained for your creditor’s ledger and the debtor accounts are those accounts, which needs to be maintained for your debtor’s ledger.

To Access the Edit - Accounts Menu:

1. Click on the Edit→Accounts menu option.
   - Keyboard Access: Press the Alt+E+A keys on your keyboard.
   A list of the five account type menu options is displayed:
   
   
2. Select any of the five available menu options to create, edit or delete the accounts:
   1. Bank Accounts - You may create up to 10 bank accounts. Each bank account must be linked to its own payments journal and receipts journal.
   2. Creditor Accounts - Creditor accounts contains specific data regarding the contact information, and accounting information for each of your creditor accounts. These are the master files for the creditor’s ledger. All the transaction data for purchases, returns and payments to creditors, etc. is also stored in the creditor’s ledger.
   3. Debtor Accounts - Debtor accounts contains specific data regarding the contact information, and accounting information for each of your debtor accounts. These are the master files for the debtor’s ledger. All the transaction data for sales, credit notes and receipt from debtors, etc. is also stored in the debtor’s ledger.
   4. General Ledger Accounts - These are all other nominal accounts (income and expense) and balance sheet accounts (capital, assets and liabilities) accounts which are not bank, creditor, debtor and tax accounts.
   5. Tax Accounts - These accounts contain the percentages and the dates for which these percentages apply to VAT/GST/Sales Tax. These accounts should be set if a business is a registered VAT/GST/Sales Tax vendor.