Opening balances at start of actual accounting period can be entered for each account here and the ledger can be modified accordingly. Account heads can be deleted if required. Once deleted here the account heads are also deleted from ledger.
All accounts must belong to one of the four categories : Asset, Liability, Income, Expenditure. As per this definition these account heads find their place on the appropriate side on P & L Account or Balance Sheet.
Default account head are also defined for automatic posting of sales and purchase transactions in the ledger. Other account heads as per the requirement of the accounting needs of the business can be defined here along with the control accounts.