Odoo handles deferred revenue, also known as unearned revenue, which is money received from customers upfront for goods or services that haven’t been delivered yet. Since the company still owes the customer those products or services, this advance payment is considered a liability. Here’s a breakdown of deferred revenue in Odoo: Concept: Deferred revenue is […]
In Odoo accounting, deferred expenses, also known as prepaid expenses, represent costs your company has already paid for but hasn’t consumed the benefits of yet. These are recorded as assets on the balance sheet until they are gradually recognized as expenses over the periods they benefit. Here’s a breakdown of how it works: Concept: A […]
Accurate Tracking: Odoo allows you to record income and expenses in their original foreign currency, providing a clear picture of your financial activity in different countries. This simplifies reconciliation and gives you a more accurate understanding of your profitability in each region. Efficient Management: Odoo simplifies managing international transactions by automatically calculating exchange rates and […]
1. Internal user: 1.1. Consolidation user: In Odoo, there isn’t a specific user type called a “consolidation user”. The consolidation process is handled through the Odoo Consolidation module, which is designed for users with accounting permissions. Here’s a breakdown of how Odoo Consolidation works: Functionality: It allows you to generate consolidated financial reports by combining […]
In this video, learn how to create an Odoo Database, install applications, and add demo data. **Check out more Odoo tutorials** – Navigate in Odoo – Chatter Basics – Odoo Discuss: Direct Messages & Voice/Video Calls **App documentation** – Apps and modules: – Developer mode: **See what Odoo can do for you!** – Schedule a demo: – Start […]
Imagine you run a bakery and frequently place orders with a local flour mill. Here’s a real-time example of how Odoo predicts products from vendor bills: Scenario: You receive a new bill from the flour mill but haven’t had time to enter the details into Odoo. Prediction: Based on past bills from this vendor, Odoo […]
Odoo 17 allows you to include default terms and conditions (T&C) on your invoices, sales orders, and quotations. This helps establish clear expectations with customers regarding important aspects like payments, returns, warranties, and after-sale services. Enabling Default T&C The functionality needs to be activated first. Navigate to Accounting — Configuration — Settings. Under Customer Invoices, […]
In this webinar, we will be discussing the key features and benefits of Odoo’s accounting module including its user-friendly interface and seamless integration with other Odoo applications. Then setting up your accounting application system, learn how to configure odoo accounting to suit your business needs, covering CoA setup, bank reconciliation, and automated invoicing process. 00:00 […]
There are two main purposes for exporting and importing vendor bills in Odoo: #odooaccounting #odoo17 #odoofunctionalvideos Exporting: Backup and analysis: You can export vendor bills to create a backup of your financial data or for further analysis in external tools like spreadsheets. This provides an offline copy and allows you to manipulate the data for specific needs. […]
The reasons for importing and exporting customer invoices can vary depending on the specific context and needs of the business. #odoo17 #odooaccounting #odoofunctionalvideos Here are some common scenarios: Importing Invoices: Integration with other systems: Invoices might be imported from other systems like e-commerce platforms, point-of-sale systems, or accounting software to consolidate all billing information in one central location. […]
