Microsoft 365 features that help users manage their subscriptions, account settings, and billing information.
Hello GJ_itsAlrit,
In Microsoft 365, a Microsoft account is an email address and password that you use with Outlook.com, Hotmail, Office, OneDrive, Skype, Xbox, and Windows, it's a free account you use to access many Microsoft devices and services. While, work or school accounts are usually associated with Microsoft 365 for business products and it is required to install and activate Microsoft 365 and Office versions 2013 or later. For the detailed instructions, here is an article for your reference: What account to use with Office and you need one.
However, since your 365 office subscription is purchased through GoDaddy, and GoDaddy is a syndicate partner of Microsoft, that has different services and structures from Microsoft Office 365, to help you better, we recommend you may also contact with Godaddy for more targeted assistance on your concerns.
Your understanding and cooperation will be highly appreciated.
Best regards,
Jennifer