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You can choose from 16 different account types in MYOB Premier Accounting. Each type serves a specific purpose. If you're not sure which type you should assign to a new account, consult your accountant or an MYOB Certified Consultant. For more information about the MYOB Certified Consultant program, visit the MYOB website.

For header accounts, there are only eight choices; the account types are identical in name to the eight account classifications. (Header and Detail accounts)

Asset
Liability
Income
Expense
Equity
Cost of Sales
Other Income
Other Expense

For detail accounts, there are multiple account types for the asset and liability classifications.

Asset Account Types:
Bank
Accounts Receivable
Other Current Asset
Fixed Asset
Other Asset

Liability Account Types:
Credit Card
Accounts Payable
Other Current Liability
Long Term Liability
Other Liability

Which accounts can be selected for the Account field or the Deposit to Account field

For the other six classifications, there is one account type apiece, each named the same as the classification.

Income
Expense
Equity
Cost of Sales
Other Income
Other Expense

If you're viewing an existing account's information, the account's type appears here. If the account is a detail asset or liability account, all the account types for its classification appear in a list. You can change the type to another in the list

If you're creating a new account, all eight header account types or sixteen detail account types appear in a list. When you select the account type, the classification that corresponds to the selected type appears in the Account Classification field.

Step by step

To add an account