Odoo’s budget management functionality allows you to create financial plans and track how your actual income and expenses compare to those plans. It helps businesses gain control over their finances by:
Setting Financial Goals: Define planned amounts for income and expenses for specific periods (months, quarters, years).
Categorizing Spending: Create budgetary positions that group related accounts from your chart of accounts (e.g., marketing expenses, rent, salaries).
Monitoring Performance: Track actual transactions against planned amounts in your budgets. Odoo automatically calculates the remaining or exceeded amount for each budget line.
Identifying Trends: Analyze variances between planned and actual figures to understand spending patterns and make adjustments as needed.
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