Answer:
We recommend that you follow
the basic GL account number
scheme: account numbers starting
with 1 for assets, account
numbers starting with 2 for
liabilities, account numbers
starting with 3 for equity,
account numbers starting with
4 for revenue, account numbers
starting with 5 for costs,
and account numbers starting
with 6 for operating expenses,
but you do not have to. However,
it is mandatory that you select
the right major group for
each account. Otherwise, the
accounts will not be shown
in the right place on the
Balance Sheet and Income Statement.
If your account numbers are
only 3 digits long, enter
them padded with two zeros
on the front, i.e., enter
111 as 00111.
