Check the items that must be filled out when you register an account on the Chart of Accounts

Account ID

It is the numerical identifier of your registered accounting items - it works as additional information in reports. The ID helps you find more easily your Chart of Accounts items, and it establishes a hierarchical relationship between the accounts of the Plan.

Position Name 

It is the text identification of your item in the Chart of Accounts. Enter a formal name because this content is presented on your business reports, and in some cases, may be presented to owners as well.

Position Type 

Indicate if the entry will be used for credits or debitswhich. By doing this, you adjust the behavior of your system, that will only display accounting items options that have the same type as your transaction - if you are registering a payable account, you will only see debit items, for example.

It is important to mention that accounting items cannot have two types, that is, they are either registered as "credit" or "debit".