Odoo default capital account is as follows

Odoo default capital accounts are accounts used to record transactions that affect company capital. Odoo default capital account consists of six accounts

The Capital Account is a basic capital account that shows the amount of capital contributed by the company owner at the time of the company’s founding. The Capital Contribution account is an additional capital account that shows the amount of additional capital deposited by the company owner after the company was founded. The Capital Reserve account is a capital reserve account that shows the amount of capital that is separated from net profit for certain purposes, such as reserves for working capital purposes, reserves for expansion purposes, or reserves for debt repayment purposes. The Share Capital account is a share capital account that shows the amount of capital contributed by shareholders. Share Premium Account is a share premium account that shows the excess amount of the nominal value of shares over the value deposited by shareholders. The Retained Earnings account is a retained earnings account that shows the amount of net profit that is not published to shareholders.

Odoo’s default capital account can be modified according to company needs. For example, if a company has capital in non-cash form, the company can add a non-cash capital account to the chart of accounts.

The following is a brief explanation of each of Odoo’s built-in capital accounts:

The Capital Account is a basic capital account that shows the amount of capital contributed by the company owner at the time of the company’s founding. This account usually has an initial balance equal to the nominal value of shares deposited by shareholders.

The Capital Contribution account is an additional capital account that shows the amount of additional capital deposited by the company owner after the company was founded. This account is usually used to record additional capital deposits from company owners, such as capital deposits in the form of land, buildings or equipment.

The Capital Reserve Account is a capital reserve account that shows the amount of capital that is separated from net profit for certain purposes. This account is usually used to record reserves for working capital purposes, reserves for expansion purposes, or reserves for debt repayment purposes.

The Share Capital account is a share capital account that shows the amount of capital contributed by shareholders. This account usually has an initial balance equal to the nominal value of shares deposited by shareholders.

Share Premium Account is a share premium account that shows the excess amount of the nominal value of shares over the value deposited by shareholders. This account is usually used to record premium shares paid in by shareholders.

The Retained Earnings account is a retained earnings account that shows the amount of net profit that is not published to shareholders. This account is usually used to record net profits saved for company expansion, debt repayment, or other purposes.