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In #Odoo, “unrealized currency” refers to the potential gain or loss that arises from changes in the exchange rate between two currencies before a transaction is settled or realized. Video Chapters 00:00 – What is Unrealized Currency Gain/loss 00:49 – How to Configure Currency 01:44 – How to Configure Automatic Currency Rate 04:20 – How […]
Each country contains its own fiscal positions for tax configuration. Users from any country can manage the transactions with the localization feature in the fiscal position. Odoo 16 Accounting module ensures you configure accounts, customers, taxes, vendors, currencies, and more as per your company needs. Several types of taxes are managed easily using the fiscal […]
Product costing operations are one of the most difficult duties for a business. Using product costing methodologies, it is simple to assign a definite price to a manufactured product. Video Chapters 00:00 – Introduction 01:21 – How to set the costing method as the standard price. 05:16 – How to set the costing method as […]
Deferred expenses and prepayments (also known as prepaid expenses), are both costs that have already occurred for unconsumed products or services yet to receive. #odooaccounting 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. #odoo16 The […]
The process of monitoring, organizing, and selling a firm’s assets is asset management. Machinery, cars, computers, and other equipment have been invested in a company recently, and these are fixed assets that we plan to use for multiple years. However, as time passes, the value of assets reduces widely. #odoo16 Create in draft: whenever a transaction is […]
Learn everything you need to grow your business with Odoo, the best open-source management software to run a company, at In this video, learn about the necessary and required process to close a fiscal year in Odoo. Need more information about Odoo apps? Discover Odoo, schedule a demo, or start your own Odoo revolution for free […]
Odoo Accounting is your free Cloud Accounting Software. “Your Accounting done right”. It’s free, open-source, fun, and full of great features! Try it now! Master Odoo and all its features with this series of Quick Tips! ‣ Learn more about Odoo Accounting: ‣ Learn how to use Odoo: ‣ Schedule a demo: #Odoo #Quick #Tips #Compare #periods […]
At the year-end, we will have to transfer the closing balance of the current year as an opening balance to the new financial year. In odoo 16 we used a journal and journal entries for setting the opening balance. First, create an equity account for opening balance and a journal entry to bring account balances […]
Deferred expenses and prepayments (also known as prepaid expense), are both costs that have already occurred for unconsumed products or services yet to receive. #odooaccounting 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. #odoo16 The company cannot report them on the […]
Multiple companies are set up in an organization using a centralized management system. Overall management process becomes easy by balancing the company data. #odooaccounting The initial setting of a firm is vital to maintain all accounting transactions. Using ERP software, we can smoothen the workflow of business transactions. #odooenterprise Odoo 16 Accounting module ensures users […]