This form allows to rename built-in Capital Accounts account.
To access this form, go to Settings, then Chart of Accounts, then click Edit button for Capital Accounts account.
The form contains the following fields:
Enter the name for this control account that tracks owner or shareholder equity in the business.
The default name is Capital Accounts but you can rename it to match your entity type.
Alternative names include 'Shareholder Equity', 'Partner Capital', or 'Member Equity'.
Enter an optional account code to organize your chart of accounts systematically.
Account codes help with sorting accounts and can follow your existing numbering system.
Common codes for capital accounts range from 3000-3999 in many accounting systems.
Select the balance sheet group where this equity account should appear in financial reports.
Capital accounts belong in the equity section, representing ownership interests in the business.
This control account aggregates all individual capital accounts for each owner or partner.
Click Update button to save your changes.
This account cannot be deleted, it is automatically added to your Chart of Accounts when you have created at least one capital account.
For more information see: Capital Accounts