The chart of accounts

Around 65 accounts seeded for your entity type and industry, with system accounts you should not delete.

Accounting → Chart of accounts.

A new company gets roughly 65 accounts chosen for its entity type and industry. An S-corp gets Common Stock and Shareholder Distributions; a sole proprietorship gets Owner's Equity and Owner's Draw.

System accounts — Accounts Receivable, Accounts Payable, Inventory Asset, Undeposited Funds, Sales Tax Payable and others — are wired into the posting engine. They can be renamed but not deleted, because documents post to them by role.

Sub-accounts nest under a parent for reporting.

Making an account inactive hides it from pickers while keeping its history intact. This is almost always what you want instead of deleting.