Asset and Liability Accounts
Asset and Liability accounts are used to keep track of any assets or liabilities you have that do not fall under other categories. Common examples might include the estimated value of a piece of property or an interest-free loan from a friend. Many users have set up Asset accounts to keep track of the value of "cash in hand."
Each asset or liability account has a name, initial value (or liability), currency type, and start date field, and can be designated as a child, or subaccount, of another account.