There is no "Cash and Cash Equivalents" account type to choose from when setting up a new chart of account

Hello cumariini,

I'm glad to see you're paying special attention to the creation of your chart of accounts. Setting up your accounts in a detailed, accurate manner is the best way to enhance the advanced reporting capabilities built-in to QuickBooks Online. The Account and Detail Type fields serve as an effective guideline to assist you, but their purpose is mainly focused on categorization. We can easily create any account beyond the available options, and categorize them as sub-accounts. I can guide you through this.

Depending on how you plan to use your Cash and Cash Equivalents account, the best way to set it up will vary. Here's a quick overview:

• If you want to use this account as a Payment or Deposit account on your transactions, pick Bank as the Account Type and select the most appropriate Detail Type. You'll be able to enter any Name that isn't already in use.
• Alternatively, if you don't need to use this on transactions, you can set it up as Current assets then Other current assets.

You can customize this even further by creating a Cash and Cash Equivalents parent account. This would allow you to categorize multiple sub-accounts under this main parent account. Check out this handy article to learn more: Create subaccounts in your chart of accounts in QuickBooks Online

Let me know what you decide! I want to make sure your chart of accounts is perfect.