One of the many modules in Odoo is the Accounting module. It has a lot of power since it allows you to
manage your company's accounting
It will be integrated with all of your other Odoo modules and produce a significant portion of the accounting automatically.
Odoo accounting features
Create invoices easily
You can easily create customer invoices directly from the Odoo Accounting module or from a Sale Order. Taxes, Payment Terms, Discounts, and Price Lists will be managed by Odoo. It will make it easier for your company to invoice.
Configure advanced payment term
You can create advanced payment terms such as payment in multiple installments with varying delays.
Easy payment reconciliation
You can easily create a payment directly on the customer invoices or reconcile the payment received from your bank statement. It's very simple and will save you a lot of time.
We can set up your payment acquirer so that your customers can pay directly online.
Aged receivable balance
With the Aged Receivable balance, you have a clear and accurate view of your overdue payment.
You will define your follow-up flow, and the system will guide you through the process. You can also automate this process and have Odoo send follow-up emails on your behalf.
Your customers can view their invoices, check the status, and even pay online.
Automatic Vendor Bill completion
Your vendor bill will be digitalized by Odoo Accounting, and its incredible artificial intelligence will automatically extract the data.
Employees can incur costs. The expenses will go through a validation process before you can easily pay them.
Control vendor bills
Odoo Accounting and Odoo Purchase are connected. You have control over the vendor bill you receive in relation to the purchase order and the actual quantity you actually received.
Pay your bills
Automate wire transfers
You can pay your vendor's invoice and easily create a payment file with all the anticipated payment dates in it.
Your check can be printed right from Odoo accounting.
Bank and Cash
In Odoo Accounting, your bank statements are automatically loaded, making bank reconciliation simple.
With opening and closure, you can keep track of every monetary transaction.
All currencies are supported by Odoo, and you may connect to a variety of sources to get daily exchange rate updates. Odoo Accounting will handle your transactions automatically in several currencies and record any exchange rate differences.
You can use the same accounting software for all of your subsidiaries. Even when each company's chart of accounts is different, you can still construct a consolidate report. With certain rules, Odoo Accounting can also automate your inter-company flows. You may oversee every aspect of your business from one location.
Reconciliation models you design can give you advice on how to reconcile. Even better, you can automate reconciliation.
Tracking your payments and comparing them to your bank statements is simple. You can control your outstanding payment at any moment.
Profit & Loss
Your profit and loss report can be run in real time. You can configure your accounting with the aid of Odoo accounting in order to have a precise profit and loss report by month.
You will have access to a powerful general ledger and will be able to navigate easily.
Depending on your country, you get your tax report ready. You easily manage your sales tax.
Cash flow statement
Your cash flow can be simply followed.
Your fiscal years don't have to be closed and reopened. Your balance sheet report is very simple to search and navigate.
To track your profitability and budget in relation to your own analytical axis, you can create your own unique analytic account.
You can set up sales and expense budgets, track them day by day, and oversee the financial operations of your business.
Control recurrent income and subscriptions. Automatic generation and delivery of the recurring invoice to the customer. Even better, you can keep his payment card details on file and charge the client immediately.
If you have a long-term membership, you can automatically earn deferred revenues and spread your income over several years.
You can manage the depreciation and track your asset. The entries for amortization will be generated automatically.
In Odoo Accounting, your bank statements are directly imported, making bank reconciliation easy.
You can activate the automated inventory valuation if you utilize the inventory module
in Odoo. Your inventory valuation will be updated from the inventory automatically if you choose this option.
Do you need support for your accounting?
No problem! We support you with our expertise in Odoo Accounting!