================= Chart of accounts ================= The **chart of accounts (COA)** is the list of all the accounts used to record financial transactions in the general ledger of an organization. The chart of accounts can be found under :menuselection:`Accounting --> Configuration --> Chart of Accounts`. When browsing your chart of accounts, you can sort the accounts by :guilabel:`Code`, :guilabel:`Account Name`, or :guilabel:`Type`, but other options are available in the drop-down menu .. image:: chart_of_accounts/drop-down.png :alt: Drop-down toggle button .. image:: chart_of_accounts/chart-of-accounts-sort.png :alt: Group the accounts by type in Odoo Accounting Configuration of an account =========================== The country you select during the creation of your database (or additional company in your database) determines which :doc:`fiscal localization package <../../fiscal_localizations>` is installed by default. This package includes a standard chart of accounts already configured according to the country's regulations. You can use it directly or set it according to your company's needs. To create a new account, go to :menuselection:`Accounting --> Configuration --> Chart of Accounts`, click :guilabel:`Create`, and fill in (at the minimum) the required fields (:guilabel:`Code, Account Name, Type`). .. warning:: It is not possible to modify the **fiscal localization** of a company once a journal entry has been posted. Code and name ------------- Each account is identified by its :guilabel:`Code` and :guilabel:`Name`, which also indicate the account's purpose. .. _chart-of-account/type: Type ---- Correctly configuring the **account type** is critical as it serves multiple purposes: - Information on the account's purpose and behavior - Generate country-specific legal and financial reports - Set the rules to close a fiscal year - Generate opening entries To configure an account type, open the :guilabel:`Type` field's drop-down selector and select the corresponding type from the following list: +---------------+--------------+-------------------------+ | Report | Category | Account Types | +===============+==============+=========================+ | Balance Sheet | Assets | Receivable | | | +-------------------------+ | | | Bank and Cash | | | +-------------------------+ | | | Current Assets | | | +-------------------------+ | | | Non-current Assets | | | +-------------------------+ | | | Prepayments | | | +-------------------------+ | | | Fixed Assets | | +--------------+-------------------------+ | | Liabilities | Payable | | | +-------------------------+ | | | Credit Card | | | +-------------------------+ | | | Current Liabilities | | | +-------------------------+ | | | Non-current Liabilities | | +--------------+-------------------------+ | | Equity | Equity | | | +-------------------------+ | | | Current Year Earnings | +---------------+--------------+-------------------------+ | Profit & Loss | Income | Income | | | +-------------------------+ | | | Other Income | | +--------------+-------------------------+ | | Expense | Expense | | | +-------------------------+ | | | Depreciation | | | +-------------------------+ | | | Cost of Revenue | +---------------+--------------+-------------------------+ |Other | Other | Off-Balance Sheet | +---------------+--------------+-------------------------+ Assets ~~~~~~ Some **account types** can **automate** the creation of :ref:`asset ` entries. To **automate** entries, click :guilabel:`View` on an account line and go to the :guilabel:`Automation` tab. You have three choices for the :guilabel:`Automation` tab: #. :guilabel:`No`: this is the default value. Nothing happens. #. :guilabel:`Create in draft`: whenever a transaction is posted on the account, a draft entry is created but not validated. You must first fill out the corresponding form. #. :guilabel:`Create and validate`: you must also select a :guilabel:`Deferred Expense Model`. Whenever a transaction is posted on the account, an entry is created and immediately validated. Default taxes ------------- In the :guilabel:`View` menu of an account, select a **default tax** to be applied when this account is chosen for a product sale or purchase. Tags ---- Some accounting reports require **tags** to be set on the relevant accounts. To add a tag, under :guilabel:`View`, click the :guilabel:`Tags` field and select an existing tag or :guilabel:`Create` a new one. Account groups -------------- **Account groups** are useful to list multiple accounts as *sub-accounts* of a bigger account and thus consolidate reports such as the **Trial Balance**. By default, groups are handled automatically based on the code of the group. For example, a new account `131200` is going to be part of the group `131000`. You can attribute a specific group to an account in the :guilabel:`Group` field under :guilabel:`View`. Create account groups manually ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ .. note:: Regular users should not need to create account groups manually. The following section is only intended for rare and advanced use cases. To create a new account group, activate :ref:`developer mode ` and head to :menuselection:`Accounting --> Configuration --> Account Groups`. Here, create a new group and enter the :guilabel:`name, code prefix, and company` to which that group account should be available. Note that you must enter the same code prefix in both :guilabel:`From` and :guilabel:`to` fields. .. image:: chart_of_accounts/account-groups.png :alt: Account groups creation. To display your **Trial Balance** report with your account groups, go to :menuselection:`Accounting --> Reporting --> Trial Balance`, then open the :guilabel:`Options` menu and select :guilabel:`Hierarchy and Subtotals`. .. image:: chart_of_accounts/chart-of-accounts-groups.png :alt: Account Groups in the Trial Balance in Odoo Accounting Allow reconciliation -------------------- Some accounts, such as accounts made to record the transactions of a payment method, can be used for the reconciliation of journal entries. For example, an invoice paid with a credit card can be marked as :guilabel:`paid` if reconciled with its payment. Therefore, the account used to record credit card payments needs to be configured as **allowing reconciliation**. To do so, check the :guilabel:`Allow Reconciliation` box in the account's settings, and :guilabel:`Save`; or enable the button from the chart of accounts view. .. image:: chart_of_accounts/chart-of-accounts-reconciliation.png :alt: Allow reconciliation for accounts in Odoo Accounting Deprecated ---------- It is not possible to delete an account once a transaction has been recorded on it. You can make them unusable by using the **Deprecated** feature: check the :guilabel:`Deprecated` box in the account's settings, and :guilabel:`Save`. .. seealso:: * :doc:`cheat_sheet` * :doc:`../vendor_bills/assets` * :doc:`../vendor_bills/deferred_expenses` * :doc:`../customer_invoices/deferred_revenues` * :doc:`../../fiscal_localizations` * `Odoo Tutorials: Chart of accounts `_ * `Odoo Tutorials: Update your chart of accounts `_