The accounts in BC have 3 levels of categorization:
1) Is it a Balance Sheet or Income Statement Account
a. This will be used in the closing of a year
2) Within Balance Sheet or Income Statement you have more categories for exactly WHAT it is
a. Choices are
1. Asset
2. Liability
3. Equity
4. Income
5. Expense
3) The Account SUB Category is a further way to classify the account. Like, in Assets is it Cash, Accounts Receivable, Fixed Assets? Etc.
I typically have to export the subcategories because typically it does not have all of the sub cats that are needed for adequate reporting.
When you are importing the GL Remember that BC Financial Statements can be built based on how you load the COA.
