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Budget Management is crucial for any corporate organization. By comparing the amount we actually spent and the expected expenditure, we may use the budget to evaluate the performance of our business. #odoo16 #odooaccounting #odoofunctionalvideos Video Chapters 00:00 – Introduction 00:51 – Enable budget management and analytic account 01:39 – Configure Budget Budgets frequently give you […]
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 […]
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 […]
One important feature of Odoo’s accounting module is the ability to handle tax calculation and management. #odooaccounting Odoo allows businesses to set up their tax structure based on whether the taxes are included in the price or excluded from the price. There are several business cases for using tax included and tax excluded in Odoo: […]
Tax adjustments are transactions that are entered to adjust the payable taxes to arrive at the correct tax liability that needs to be paid to the tax agency. #odoo15accounting In Odoo 15 Accounting we can manually do the tax adjustment. Go to Accounting – Actions – Tax adjustments #odoo15enterprise Connect With Us: ———————— ➡️Website: ➡️Email: […]
A tax report is documentation that calculates the entity’s income earned with the amount of tax payable to the government, government organizations, or to taxpayers. We can easily access the tax report in Odoo from Accounting Module. #odoo15acccounting Once all the transactions involving taxes have been posted for the period you want to report, open […]
A withholding tax, also called a retention tax, is a government requirement for the payer of a customer invoice to withhold or deduct tax from the payment, and pay that tax to the government. #odoo15accounting In most jurisdictions, withholding tax applies to employment income. #odoo15functionalvideos With normal taxes, the tax is added to the subtotal […]
