In Accounting / Chart of Accounts / COA Classification is where you can update and customize the departments, which then updates your financial statements.
The Account Type is what drives where this chart of account will appear on reports. If assigned Asset, Liability or Equity, the account will go on the Balance Sheet. If its assigned Revenue or Expense, it will show on the Operating Statement.
The Main Group, Sub Group 1, 2 and 3 gives further information regarding this account. To Add or Edit these group names, select a chart of account that you want to update.
Use the Change Order options in blue text to view and edit the groups.
Once the changes are Saved, please run the Balance Sheet or Operating Statement that was affected to ensure all changes are accurate. If you change the group to one chart of account, this change will affect all other chart of accounts with this group.