Accounts payable | Track what your company owes to suppliers and vendors. If you selected a preset chart of accounts when you set up your company, you already have an accounts payable account. Normally, you will have only one or two accounts payable accounts. You do not need to set up an accounts payable account for each vendor. |
Credit card | Track expenses you charge to a credit card. Create a separate credit card account for each credit card that you have. |
Long term liability | Track a loan you expect to pay off in more than one year. |
Other current liability | Track short-term liabilities other than bills and credit card charges. Examples of what you can track with an other liability account include lines of credit and short-term loans. |