diff --git a/app/Models/AccountType.php b/app/Models/AccountType.php
index 0b00a1bce4..40b9a872eb 100644
--- a/app/Models/AccountType.php
+++ b/app/Models/AccountType.php
@@ -38,6 +38,8 @@ class AccountType extends Model
     const INITIAL_BALANCE = 'Initial balance account';
     const BENEFICIARY     = 'Beneficiary account';
     const IMPORT          = 'Import account';
+    const RECONCILIATION  = 'Reconciliation account';
+    const LOAN            = 'Loan';
 
     /**
      * The attributes that should be casted to native types.
diff --git a/app/Models/TransactionType.php b/app/Models/TransactionType.php
index a915e849a0..33f5dc58eb 100644
--- a/app/Models/TransactionType.php
+++ b/app/Models/TransactionType.php
@@ -37,6 +37,7 @@ class TransactionType extends Model
     const DEPOSIT         = 'Deposit';
     const TRANSFER        = 'Transfer';
     const OPENING_BALANCE = 'Opening balance';
+    const RECONCILIATION  = 'Reconciliation';
 
     /**
      * The attributes that should be casted to native types.
@@ -58,13 +59,13 @@ class TransactionType extends Model
     public static function routeBinder(string $type)
     {
         if (!auth()->check()) {
-            throw new NotFoundHttpException;
+            throw new NotFoundHttpException();
         }
         $transactionType = self::where('type', ucfirst($type))->first();
         if (null !== $transactionType) {
             return $transactionType;
         }
-        throw new NotFoundHttpException;
+        throw new NotFoundHttpException();
     }
 
     /**
diff --git a/database/seeds/AccountTypeSeeder.php b/database/seeds/AccountTypeSeeder.php
index 721dffaafb..9ebbbfa91d 100644
--- a/database/seeds/AccountTypeSeeder.php
+++ b/database/seeds/AccountTypeSeeder.php
@@ -21,14 +21,15 @@ class AccountTypeSeeder extends Seeder
 {
     public function run()
     {
-        AccountType::create(['type' => 'Default account']);
-        AccountType::create(['type' => 'Cash account']);
-        AccountType::create(['type' => 'Asset account']);
-        AccountType::create(['type' => 'Expense account']);
-        AccountType::create(['type' => 'Revenue account']);
-        AccountType::create(['type' => 'Initial balance account']);
-        AccountType::create(['type' => 'Beneficiary account']);
-        AccountType::create(['type' => 'Import account']);
-        AccountType::create(['type' => 'Loan']);
+        AccountType::create(['type' => AccountType::DEFAULT]);
+        AccountType::create(['type' => AccountType::CASH]);
+        AccountType::create(['type' => AccountType::ASSET]);
+        AccountType::create(['type' => AccountType::EXPENSE]);
+        AccountType::create(['type' => AccountType::REVENUE]);
+        AccountType::create(['type' => AccountType::INITIAL_BALANCE]);
+        AccountType::create(['type' => AccountType::BENEFICIARY]);
+        AccountType::create(['type' => AccountType::IMPORT]);
+        AccountType::create(['type' => AccountType::LOAN]);
+        AccountType::create(['type' => AccountType::RECONCILIATION]);
     }
 }
diff --git a/database/seeds/TransactionTypeSeeder.php b/database/seeds/TransactionTypeSeeder.php
index af070ba825..c9d9cc37df 100644
--- a/database/seeds/TransactionTypeSeeder.php
+++ b/database/seeds/TransactionTypeSeeder.php
@@ -25,5 +25,6 @@ class TransactionTypeSeeder extends Seeder
         TransactionType::create(['type' => TransactionType::DEPOSIT]);
         TransactionType::create(['type' => TransactionType::TRANSFER]);
         TransactionType::create(['type' => TransactionType::OPENING_BALANCE]);
+        TransactionType::create(['type' => TransactionType::RECONCILIATION]);
     }
 }