Shaz Hughes Dip(Fin) ACQ NSW, MICB
0422 886 003
Yes, you could use that account if you've already pre-selected a business CoA setup. NB: I always choose "Other/None" at setup & add relevant Accounts as I go. Because the program was originally US-based, many of the default Accounts created - & there are often a LOT! - are not applicable to Australia. You can go through the list & "Delete" the unnecessary Accounts - this reduces the list length dramatically & simplifies your system. You can also re-name any Account to whatever title you prefer. If you're going to track Stock/Inventory ....
“Service” Items are best for non-physical sales eg labour/time (hours), professional fees or in your case, Advertising Space. Whilst you can still use quantities, these are not tracked - with a running balance - in the system. You can still utilise a specific service Item that you may buy in & invoice out as above.
“Other Charges” are more one-off or miscellaneous things eg delivery charges, late fees etc
NB: “Inventory” & “Service” Item types CANNOT be changed to a different type at a later stage!