This account is required. It tracks the actual cash flowing into your bank account. It is used with the deposit slip process.

This account reflects payments coming in from customers. Normally a bank account.

This account is for receiving credit card payments.  It may be the same as the bank account.

This account reflects payment coming in from customers.  Normally a bank account. Entering a “CC" in the Debit GL Account Number will include the amount with the credit card entry.  This account is not required if you do not break out debit cards to a separate account.

Allows you to have a separate general ledger account for American Express deposits.  If AMEX is being deposited to the general ledger account as other credit cards, then add a tilde (~) to the end of that account number and the AMEX transactions will post separately (i.e. 1562~).

This account is used to add cash to take cash from the deposit. It is usually the bank account general ledger.

This account is required. Small amounts of physical cash are kept on hand for minor expenses or to provide change for customers. This may be the same general ledger account as the bank account.

Money owed to the business by customers who have been invoiced but haven't paid yet.  This account is not used in Cash Accounting.

The purchase price of long-term physical assets. Normally, your rental assets' general ledger account.  GL accounts entered at the item category level will supersede.  This account is only required if you are not fully expensing your items at the time of purchase.

A "contra-asset" account that tracks how much of the rental asset’s value has been "used up" over time. GL accounts entered at the item category level will supersede.

The value of items held in stock specifically for resale (parts or new/retail equipment).   GL accounts entered at the item category level will supersede.  This account is only utilized if you are not expensing your items at the time of purchase.  This account is only required if you are not fully expensing your items at the time of purchase.

A temporary account used to track sales inventory that has been received but not yet invoiced or fully processed.Only use this field if your Purchase Orders are integrated into an accounting system. This may be the same general ledger account at the inventory assets account or a liability account.

 For more information on this, please refer to the article Purchase Order Suspense Account.

A temporary account used to track sales inventory that has been received but not yet invoiced or fully processed. Only use this field if your Purchase Orders are integrated into an accounting system. This may be the same general ledger account at the rental assets account or a liability account.

 For more information on this, please refer to the document Purchase Order Suspense Account.

The total cost of price reductions offered to your customers on contracts. May be the same account as Discounts Taken. When a discount is applied to a contract, the corresponding amount is removed from revenue and recorded as an expense.

 A Discounts Given Report can also be run to review and verify the discounts applied to customer transactions. 

This account is required. Each night, when you close the cash drawer, you count the money to check it against the amount that was rung up all day long. These amounts do not always match.  The differences between the computer's count and the actual amount are held in Over/Under. This may be an expense or asset account. 

This is the default account for disbursements. Disbursements are used to track money being added or removed from the cash drawer, or to record other payment types like ACH, EFT or wire transfers. They can also be used for credit memos, refunds, or moving funds between accounts. It is only used if the actual disbursement account can’t be found. The GL account number is defined in each disbursement item.

This account is required. General or small expenses that don't fit into specific categories. Catch-all for entries that couldn’t be posted.  This account should rarely be used.

The periodic allocation of an asset's cost over its useful life. The debit side entry of monthly depreciation will be posted to this account.

This account holds the debit side entry of a capitalized asset sale (i.e., the purchase price of the asset). If you are using the depreciation module, this will be the remaining book value of the asset at the time it is sold.

This account holds the debit side entry of sales inventory sold.  It is the direct cost of the inventory you sold.

Expenses for maintaining and fixing equipment or facilities.

Used to record changes in inventory levels due to shrinkage, damage, or manual count corrections.

This account is used for multi-store locations that run like individual companies. Tracks money or inventory moving between two different locations of the same company.  Should always clear to zero at the end of day.

This account holds all shipping charges included on purchase orders.

This account holds all the taxes included on purchase orders. This is a balance sheet liability account or asset account.

General or small expenses that don't fit into specific categories. Catch-all for entries that couldn’t be posted.  This account should rarely be used.

This account is the default expense account for the purchase order itself if you don't have individual accounts broken out.

Money owed to vendors for purchases or services invoiced by not yet paid.  This account supports the POR Export routine.

Money owed to third-party vendors when you subrent/re-rent their equipment to your own customers. Represents the value of closed sub-rent Purchase Orders that have not yet been posted. Only need to populate this field if you engage in re-rent activity and have enabled auto sub-rent Purchase Order creation.

A catch-all for other monies owed that don’t fit into specific categories (ie: accrued liabilities, loans). These are typically related to non-inventory items that have been received from Purchase Orders but have not been posted.

This is the default account for subrental expenses. What you pay to another company to rent their gear so you can rent it to your customer. This number can also be set in the purchase order GL accounts so that it may be automatically set when a subrental purchase order is created.

This account is required. Revenue generated from renting out equipment or property.

This account is required. Revenue from the direct sale of products (retail or parts).

This account is required. Revenue from selling or disposing of rental/capital assets (distinct from parts or retail inventory).

Fees charged to customers to cover potential minor damages to rented items.

Miscellaneous revenue that is not your primary source of business (e.g., interest or environmental fees).

Revenue offset for prompt payment discounts taken by customers. May be the same account as Discounts Given.

Sales tax collected from customers to be remitted to the government.

It holds the amount of item percentage that was collected and is now due to the government. If this is used for a percentage fee, such as an EPA fee, then it would be a revenue account.

Money received from customers in advance of a service or rental (liability because you still owe them the product or service).  These monies are expected to be refunded upon final billing.

This account is normally treated like a customer deposit that you are holding until you actually bill them, except the monies are applied against the contract at the end.  This account should ideally be $0 at the end of the month.

This requires a 3rd party add-in, such as Transaction Pro Importer, to load the Excel spreadsheet into QBO. This is in a CSV file.  In Transaction Pro, the "Account Number" cannot be used as the account identifier. The "Account Name/Description" must be used. Please use the 'Account Name/Description' when mapping the accounts within POR. Additionally, you can NOT name your accounts receivable account in QuickBooks Accounts Receivable. We recommend using POR A/R as the name of the account.

The IIF format is a format that is used by QuickBooks

Peachtree and others use the CSV (comma-delimited) format.

This is a tab-delimited format used by Account Mate.

This format is a comma-separated file used by Business Works.

Sage Accpac and others use the CSV (comma-delimited) format.

This is a tab-delimited format used by ComputerEase.

Tech Systems and others use the CSV (comma-delimited) format.

Microsoft uses the CSV (comma-delimited) format.

The CSV (comma-delimited) is used by MAS 90/200 and others.

Simply Accounting and others use the TXT (tab-delimited) format.