> For the complete documentation index, see [llms.txt](https://docs.powerall.app/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.powerall.app/en/financial/general-ledger-accounts.md). # General ledger accounts General ledger accounts are the foundation of your Administration. They help keep financial transactions organized, providing a clear overview of income, expenses, assets, and liabilities. There are two types of accounts: balance sheet accounts and profit and loss accounts. **Balance sheet accounts** show what a company owns and owes at a given moment. They include assets, liabilities, and equity. The balance on these accounts always remains, even in the next fiscal year. **Profit and loss accounts** look at a company's income and expenses over a year, resulting in the profit or loss. The balance on these accounts is never carried over to the next year. ### Categories In Powerall Online, every general ledger account is assigned to a category. The category determines the type (balance sheet or profit and loss) and the place where the account appears on the financial reports. The main categories are supplied by us and cannot be adjusted. These are the following: **Balance sheet:** * Fixed assets * Working capital * Equity * Liabilities * Inventory **Profit and loss:** * Revenue * Purchases * Operating expenses * Depreciation * Financial expenses * Financial income * Extraordinary expenses * Extraordinary income Under these categories, it is possible to create subcategories. These can be determined by you and provide a further breakdown in the financial reports. Examples of this are Car expenses and Advertising expenses as subcategories under Operating expenses. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.powerall.app/en/financial/general-ledger-accounts.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.