Lesson 12: Using Other QuickBooks Accounts You use accounts to track items such as the equipment and property your business owns that are not for sale. You use accounts to track items you are likely to convert to cash or deplete within one year, such as inventory. You use accounts to track items that are scheduled to be paid within one year, such as sales tax, payroll taxes. You use accounts to track items such as car loans or mort gages scheduled to be paid over a term longer than one year. You use accounts to track capital investment, draws, and retained earnings. Like any QuickBooks account, a Credit Card account has its own that lists all the charges and credits you have recorded, as well as payments you have made. Equity is the difference between what you have (your total _) and what you owe (your total_). A_shows your company's assets, liabilities, and equity as of a particular date. Lesson 13: Creating Reports You can use one of QuickBooks reports to organize