Odoo 13 Chart of Accounts
A Chart of Accounts is a listing of all accounts used in the general ledger of an organization. It provides a complete listing of every account in an accounting system. An account is a unique record for each type of asset, liability, equity, revenue, and expense. In Odoo 13 Chart of accounts is defined in the accounting module which acts with the balance sheet or profit and loss accounts. Each company prepares its own chart of accounts depending on its individual requirements.
A Chart of Accounts is a created list of the accounts used by a business entity to define each class of items for which money or the equivalent is spent or received. For example, a number starting with 1 might tell us that the account is an asset account and a number starting with 2 might tell us that the account is a liability account and a number starting with 3 might tell us that account is an equity account. In this Blog, you are going to discuss “Odoo 13 Chart of Account”.
Configuration:
First of all, you can install the Accounting module in your instance.
Now Lets’ see how to configure the Chart of Accounts in Odoo 13:
Now you can go to the Accounting module and configure the chart of account.
Go to Accounting module -> Configuration and click on Chart of Accounts button.
You will see a list view of all accounts. From here you can modify, import, remove, and create accounts as per your need.
To clarify this view, now you can click on the Group By button and select Account Type.
To Edit an Existing account:
Now you can click on an account will you want to open up a short view of the account that displays the Code, Name, and Type. If you want to make any changes then click on the edit button. Once all changes have been completed now click on the Save button.
To delete an account:
Now if you want to delete an account, select the checkbox next to the account’s code. At that time, click the Action drop-down menu and choose the ‘Delete’ option.
To create a new account:
Now you can create a new account to click on the create button.
Now you can enter the following fields at the same time creating an account like code, name, type, default taxes, group, company, deprecated, etc.
Code: This field indicates the unique identification number of account types and may also be coded with further information.
>>Assets Accounts – codes varies from 1000 to 1999
>>Equity Accounts – codes varies from 2000 to 2999
>>Liability Accounts – codes varies from 3000 to 3999
>>Income Accounts – codes varies from 4000 to 4999
>>Expense Accounts – codes varies from 5000 to 5999
Name: This field indicates the name of the account, which shows what types of transactions are divided under this account.
Type: This field indicates the type of accounts, which is detailed below in the ‘Choosing an Account Type’ section.
When you fill all fields, now click on the Save button.
