Odoo Accounting Journal Entries: An accounting journal is a record of transaction exchanges requested by date, these transactions are recorded in the name of journal entries. Each journal entry shows account names and their credits and debit values.
In Odoo we can create different types of journals. Sales, Purchase, cash, Bank, and miscellaneous are the basic five types of journals in Odoo. Each journal types have different rules like sales journal used to post sent customer invoices, purchase journal used to post received vendor bills, cash type journal used to track daily cash transactions as well as the received customer payments, bank for posting your bank statements, track customer or vendor payments and all other transactions recorded by your associated bank account, then the last one is Miscellaneous journal type, it is used for anything that doesn’t fit into the above types.
Video Contents
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0:00 – Introduction
0:39 – How to create a new Journal in Odoo14
2:12 – How to configure a journal with sales Type
6:05 – How to configure a journal with Purchase Type
6:23 – How to configure a journal with Cash or Bank Type
10:13 – How to configure a journal with Miscellaneous Type
10:28 – Creating a Journal with Sales type
11:43 – Odoo 14 Accounting Journal Entries
Odoo Accounting Services:
You can carry out two types of control on journals in OpenERP – controls over the accounts and access controls for groups of users. In addition to these controls, you can also apply all of the standard user rights management.
Watch related videos:
1. Credit Notes in Odoo 14:
2. Cash Rounding in Odoo 14:
3. Fiscal Positions and Tax Mapping in Odoo 14:
4. Incoterms in Odoo 14:
5. Budget Management in Odoo 14 Accounting:
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