Odoo 15 Anglo Saxon and Continental Accounting | Odoo 15  Accounting | Odoo 15 Enterprise Edition – CBMS Odoo ERP

Odoo 15 Anglo Saxon and Continental Accounting | Odoo 15 Accounting | Odoo 15 Enterprise Edition – CBMS Odoo ERP

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 is familiar with continental accounting as this is one of the widely used accounting features. Anglo Saxon accounting, on the other hand, is used by a small community. #odoofunctionalvideos

In Odoo Anglo Saxon is only available in the Enterprise edition of Odoo while the Continental is available in both the Enterprise and Community edition of Odoo. #odoo15vieos

Moreover, in Continental Accounting, the expense account is affected at the time of purchase on the other hand, in Anglo Saxon Accounting the expense account is affected at the time of processing a sales order.

Let’s now look at both Continental and Anglo-Saxon accounting in detail.

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#Odoo #Anglo #Saxon #Continental #Accounting #Odoo #Accounting #Odoo #Enterprise #Edition

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2 Comments

  1. avatar
    @ramibakkar4358 says:

    The treatment in Odoo doesn't respect IFRS rules because the CoGS is recognized when goods "Leave the Warehouse" while revenue is recognized only when the invoice is "Issued". In some practices their could be days separating the two activities. CoGS and Revenue should be recognized at the same time otherwise you are breaking the "Matching Principle".

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