Special Considerations

Specific Asset and Liability Considerations

QuickBooks handles certain accounts it has created in a unique way.  In the process of issuing financial statements, these unusual situations deserve some additional consideration.  When doing bookkeeping using QuickBooks these specific accounts may not even need to be used unless they are needed. Here is a list of these accounts:

Accounts Receivable
Accounts Payable
Opening Balance Equity
Retained Earnings
Undeposited Funds

More information on this topic

Chart of Accounts