Open has a default setup of a list of pre-defined, commonly used accounts (categories) that are generally used in the accounting world. However, you can always add more categories as per your needs in Chart of Accounts by following these steps:
1. Go to the ‘Accounting & Taxes’ section and then click on the ‘Chart of Accounts’ tab under the ‘Accounting’ subsection.
2. Click on ‘Add Account’.
3. Fill in the details.
Click on ‘Continue‘ to create the account.