On the Edit → Accounts menu, you may add, create or delete accounts for the following account types:

1.Ledger Income / Expense , Asset / Liability / Capital accounts and   Retained earnings (Retained income) and   Debtor's control and Creditor's control accounts.

2. Bank account will allow you to link a Payments and Receipts batch on the Bank tab.

3. Tax account   will allow you to set the tax percentage for (VAT/GST/Sales tax) and specific tax settings.