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A financial account is a tool (similar to bank account statement) that is used for monitoring monetary transactions. Normally they will be linked to a party and the various transactions details (eg payments or receipts) will be shown as an entries.

Currently in OFBiz financial accounts can have the following types:

• Bank Account (by default this type will post to 213500 CUSTOMER DEPOSIT ACCOUNTS)
• Deposit Account (by default this type will post to 213500 CUSTOMER DEPOSIT ACCOUNTS)
• Gift Certificate (by default this type will post to 213200 GIFT CERTIFICATES UNREDEEMED)
• Investment Account (by default this type will post to 213500 CUSTOMER DEPOSIT ACCOUNTS)

NOTE: In GL Account Defaults there is a specific tab for specifying what type of Financial accounts are posted to which general ledger account.

What is it used for?

These include:

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