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How To Select Accounting Account Type

How To showing how to select the correct type for accounting accounts.
  • Last Update:2016-02-09
  • Version:002
  • Language:en

Account type is used by ERP5 accounting module to determine how an account should behave. This how to explains the different types of accounts and when to use them.

Table of Contents

Account Behaviors

We can distinguish three behavior:

  • If the account type is "Expense" or "Income", then the balance of this account will be used to calculate profit or loss when closing the period.
  • If the account type is "Asset/Receivable" or "Liability/Payable", then it will be required to specify the third party when using this account in an accounting transaction.
  • If the account type is "Asset/Cash/Bank", then it will be required to specify the bank account when using this account in an accounting transaction.

Asset, Receivable/Refundable VAT, Liability, Liability/Payable/Collected VAT, Asset/Cash have no particular behavior yet.

If you need to prepare an import spreadsheet for accounting accounts, you must use the ID of the account_type.

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