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This video explains the payment flow in Odoo 15 accounting #odoo15accounting From version 14 onwards payments are registered by default on outstanding accounts both in the case of customer invoices and vendor bills. Odoo has added new payment transfer accounts for outstanding payments and outstanding receipts. Invoices or refunds can be posted on outstanding receipts, […]
This Video Explains the Aged payable and Aged Receivable report in Odoo 15. #odoo15accounting Aged Receivables report shows the sales invoices that were awaiting payment during a selected month and several months prior. #odoo15enterprise Odoo also has an Aged Payable Details report to display information on individual bills, credit notes, and overpayments owed by you, […]
A withholding tax, also called a retention tax, is a government requirement for the payer of a customer invoice to withhold or deduct tax from the payment, and pay that tax to the government. #odoo15accounting In most jurisdictions, withholding tax applies to employment income. #odoo15functionalvideos With normal taxes, the tax is added to the subtotal […]
This video explains to you how the Odoo platform will help you manage the continental and Anglo-Saxon accounting operations. #odoo15accounting Video Content: 00:00 – Introduction to Accounting modes in Odoo 01:19 – Anglo Saxon Accounting 12:30 – Continental Accounting There are mainly two types of accounting practices that are widely adopted across the globe. Everyone […]
Odoo 14 brings up a new report related to the Currencies ie. Unrealized Currencies gains/losses Report. #odoo15accounting This report will display all open amounts on your balance sheet that need to be reevaluated. It is grouped by the currency and their respective accounts.#odoo15videos This report displays the amount separately in four columns: 1. Balance in […]
While computing the profit and gains from business or profession, there are certain expenditures that are disallowed. So we should not allow the benefit of such expenditures.#odoo15accounting Disallowed expenses are those expenses that cannot be deducted in the fiscal result but can be deducted in your bookkeeping result. So you can get the fiscal results […]
Deferred revenues, or unearned revenue, are payments made in advance by customers for products yet to deliver or services yet to render. #odoo15videos Such payments are a liability for the company that receives them since it still owes its customers these products or services. The company cannot report them on the current Profit and Loss […]
Deferred expenses and prepayments (also known as prepaid expenses), are both costs that have already occurred for unconsumed products or services yet to receive. Such costs are assets for the company that pays them since it already paid for products and services still to receive or that are yet to be used. The company cannot […]
Managing budgets is an essential part of running a business. Budgets help people become more intentional with the way money is spent and direct people to organize and prioritize their work to meet financial goals. #odooaccounting They allow you to plan your desired financial outcome and then measure your actual performance against the plan. Odoo […]
Asset management is a systematic process to organize, monitor, and sell the assets of an organization in a cost-effective way. #odoo15accounting By monitoring the assets and their current working conditions, will help the business to understand the loss/gain, equipment failures, etc. #odoovideos Odoo 15 also provides the feature of asset model and asset creation to […]
