| Account typeBalance Sheet The account is used for transactions relating to the balance
sheet items, that is the company's assets and liabilities. The value of the
closing balance for a particular year, in relation to this type of account, is
equal to the value of the opening balance of the next year for this ledger
account. Profit & Loss The account is used for transactions relating to costs and
revenues. No balance sheet values are calculated for the ledger accounts in
this type of account. The values of these ledger accounts should be closed by
the fiscal year. Intercompany The account is used for balance sheet accounts that include
transactions between different companies controlled by the same holding
company. This applies to transactions between companies in the same group and
to transactions between companies from different groups. Text Accounts of this type are used to print text in a balance
sheet. You must define a ledger account in which no transactions can be
entered. If you select this ledger account during printing, LN prints the text you
have defined for this account in the correct position.
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