What is an account type ?
An account type is a name or code given to an account that indicates the account's purpose.
In Odoo, Account Types are used for information purpose, to generate country-specific legal reports, set the rules to close a fiscal year and generate opening entries.
Basically Account types categorize general account with some specific category according to its behaviour or purpose.
Which are the account types in Odoo ?
Odoo covers all accounting types. Therefore, you cannot create new account types. Just pick the one related to your account.
| List of account types |
|---|
| Receivable |
| Payable |
| Bank and Cash |
| Current Assets |
| Non-current Assets |
| Prepayments |
| Fixed Assets |
| Current Liabilities |
| Non-current Liabilities |
| Equity |
| Current Year Earnings |
| Other Income |
| Income |
| Depreciation |
| Expenses |
| Direct Costs |
How do I configure my accounts?
Account types are automatically created when installing a chart of account. By default, Odoo provides a lot of chart of accounts, just install the one related to your country.
It will install generic accounts. But if it does not cover all your cases, you can create your own accounts too.
Note
If you are a Saas User, your country chart of account is automatically installed.
To create a new accounts, go to the Accounting application. Open the menu Adviser ‣ Chart of Accounts, the click on the Create button.
View Create Account in our Online Demonstration