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Account status types allow you to define what statuses an account can be in (Pre-Active, Active, Suspended, etc.). When creating account status types you can set the status type to be billable or non-billable as well as specifying if an account can be modified while it is in the status.
In this example an an Account Status Type of ‘PreActive’ will be created which is non-billable but can be modified (have packages added and other changes made to the account).
For additional details on the fields presented on the account status types screen see the Account Status Types screen help article.
Prerequisites
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Contact Types Optional Configuration:
Optional: Once account status types are configured you can define the contacts contact types that accounts can contain. See the Contact Types Configuration Example for an example of how to setup a contact type
Currency Exchange Required Settings:
A currency exchange must be configured as an exchange is required when setting up a bill run. See the Currency Exchange Configuration Example article