Account Types

Each account in NetSuite must have a Type assigned. Each of these account types belongs to a broader category in the general accounting equation: Assets + Expenses = Equity + Liabilities + Income.

Each account type has a normal balance type of debit or credit. NetSuite uses positive notation for debit accounts and negative notation for credit accounts. For information about creating accounts, see Creating Accounts.

The relationship between type, category, balance type, and notation in NetSuite is shown in the following table:

Account Type	Category	Balance Type	Notation
Accounts Receivable	Asset	Debit	+
Bank	Asset	Debit	+
Deferred Expense	Asset	Debit	+
Fixed Asset	Asset	Debit	+
Other Asset	Asset	Debit	+
Other Current Asset	Asset	Debit	+
Unbilled Receivable	Asset	Debit	+
Equity	Equity	Credit	-
Cost of Goods Sold	Expense	Debit	+
Expense	Expense	Debit	+
Other Expense	Expense	Debit	+
Income	Income	Credit	-
Other Income	Income	Credit	-
Accounts Payable	Liability	Credit	-
Credit Card	Liability	Credit	-
Deferred Revenue	Liability	Credit	-
Long Term Liability	Liability	Credit	-
Other Current Liability	Liability	Credit	-

Account Type

Category

Balance Type

Notation

Accounts Receivable

Asset

Debit

Bank

Asset

Debit

Deferred Expense

Asset

Debit

Fixed Asset

Asset

Debit

Other Asset

Asset

Debit

Other Current Asset

Asset

Debit

Unbilled Receivable

Asset

Debit

Equity

Credit

Cost of Goods Sold

Expense

Debit

Expense

Debit

Other Expense

Expense

Debit

Income

Credit

Other Income

Income

Credit

Accounts Payable

Liability

Credit

Credit Card

Liability

Credit

Deferred Revenue

Liability

Credit

Long Term Liability

Liability

Credit

Other Current Liability

Liability

Credit

Note:

You cannot create new or modify existing account types.

NetSuite also includes a non-monetary account type called Statistical. For more information, see Using Statistical Accounts.

Accounts that belong to the asset, liability, and equity categories are included in the balance sheet. Income and expense accounts are in the income statement.

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