What is the Type of Account Code?

What is the Type of Account Code?

The Type of Account Code refers to the classification of an account based on the nature of the expense or revenue. Items are mapped to the Type of Account Code in the item master to ensure accurate categorization during transactions. The possible values are:

  • Capex (Capital Expenditure): Expenses related to acquiring or upgrading physical assets like equipment, property, or infrastructure.

  • Opex (Operational Expenditure): Expenses related to day-to-day business operations, such as salaries, utilities, and supplies.

  • Both: Used when an expenditure involves both capital and operational elements.

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