G/L Account Master - Type of Account This is the G/L account Type field. The permissable types are listed below. These do not normally affect the operation of the system, but are helpful for classifying the G/L accounts. They are used to verify the correct Normal balance. Enter A for Asset L for Liability I for Income E for Expense Q for eQuity Note that the Year End Close optionally will allow you to close all accounts with the types of Income and Expense, in lieu of using a range of account numbers to close.