Accounts are used to track payments, charges, and deposits. Each account has specific transaction code types used to classify the transactions. There are three types of accounts available:

•     Regular: A Regular account type is used for charges and credits such as for housing charges and credits. An institution can have more than one Regular account type.

•     Deposit: A Deposit account type is used to track deposits (such as for housing and rental equipment transactions). An institution can have more than one Deposit account type.

•     Payment: The Payment account type is the cash account used to track payments. An institution can only have one Payment account. The Payment account is predefined and cannot be deleted. However, the Payment account’s Name and ID can be edited.