According to the business entity selected when setting up your company, the most common accounts are already included, but you may change them to meet the needs of your business. Asset accounts include cash, checking, and investment accounts as well as property such as land, buildings, and vehicles. Liability accounts represent amounts the company owes such as accounts payable to vendors for services or supplies, credit cards, loans from banks or others, and payroll taxes withheld from employee checks. Revenue accounts are used to record the earnings of the business. Expense accounts reflect all the costs the company incurs during the course of doing business.