G/L Account Card

Fields that need to take note in G/L Account card are Income/Balance and Debit/Credit fields. Income/Balance specify wheter the account is income or balance sheet account. This is important for year end closing. The default value is the value in the previous G/L Account.

Debit/Credit determines the normal type of transactions from the account. It is useful in Trial Balance filtering. It won't restrict the transaction to either credit or debit.

Another field that worth to mention is Account Type. You can create 5 types of G/L Accounts:

1. Posting - posting transaction. All transaction entries are posted to this account
   
2. Heading - heading description for a group of account. For description purposes only.
   
3. Total - Totaling a series of account.
   
4. Begin-Total - beginning of a series of accounts to be totalled.
   
5. End-Total - Total for a series of accounts
   

From the 5 types of accounts, only Posting account is the real G/L Account. The other 4 types of accounts are merely for grouping and totalling. These accounts cannot contains any transaction etries.

If you want to post entries directly from journal lines, you must check the Direct Posting field. Of you totally don't want transaction to be posted to an account, then you can check on the Block field.