Once the bank statements are correctly imported, it is essential to reconcile the records properly and ensure all Journal Entries are balanced and in agreement. To ease and speed up the reconciliation process, you can configure Reconciliation Models, which are particularly useful with recurrent entries such as bank fees. There are three types of Reconciliation […]
Accounting in the aspect of company operation is vital and the management of the various strands of finance in the company could bring in at most profit for the investment as well as reduce the losses. Video Contents: 0:00 – Introduction to Odoo 14 Accounting 1:01 – Overview of Odoo Accounting Dashboard 5:02 – How […]
Deferred expenses and prepayments (also known as a prepaid expense), 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 […]
It is essential for your business to collect payments when they are overdue. Odoo will help you identify payments that are late and will allow you to send the appropriate reminders. Normally almost all the customers will pay at the right time. Still, there are customers who keep delaying or due payment. In such cases, […]
Odoo 14 brings up a new report related to the Currencies ie. Unrealized Currencies gains/losses Report. 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. This report displays the amount separately in four columns: 1. Balance in a […]
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 […]
Choosing to use the multi-currency option in Odoo will allow you to send sales invoices, quotes, and purchase orders or receive bills and payments in currencies other than your own. Users can configure multiple currencies for the transaction, set its exchange rate, and assign different currencies for individual partners and charts of accounts, run reports […]
Incoterms stands for International commercial terms. Fifteen terms of sale accepted worldwide in an assignment of costs and responsibilities between buyer and seller. Basically, Incoterms are trade terms published by the International chamber of commerce(ICC), and that is commonly used in both international and domestic trade contracts. Incoterms basically intended to convey the assignments, expenses, […]
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. They allow you to plan your desired financial outcome and then measure your actual performance against the plan. Odoo manages […]
#odoo14 #odooapp #odooaccounting Odoo Payroll accounting module manages the payroll activities revolves in and around the management of employee salary and generates corresponding entries accounting as well Additional Features of Odoo 14 Payroll Accounting App ✔️ Configuring Salary Rules ✔️ Configuring Salary Structure ✔️ Employee Pay Slips ✔️ Manage entries in accounting journals ℹ️ App […]
