Other way of account classification is account tagging.

Step 1. Go to your "Financials" tab select "Accounts"

Step 2. Tick the box of the accounts that you want assigned the tags. Then tap the "Assign Tags"

Step 3. Select the tags that you want to assign.

Related articles:

Understanding LodgeiT Chart of Accounts

Getting Started with Mapping of  Accounts

Preparing accounts for LodgeiT Chart of Accounts Taxonomy?

Basic Accounting Literacy

How to Ensure Accounts are Accurate

Understanding Accounting Reports

Cash vs. Accrual Accounting