Accounting means money and when money is involved its very important for any business. Today we will be discussing How we can manage accounting dept of an organization through open source odoo?

Odoo is an open source ERP system. Odoo applies module-based architecture ie. you can add several different features and functionalities without hampering other feature of the system. Odoo having minimum dependencies of module on another module, Odoo implementation is one of the easiest way to upgrade the working functionality of the ERP solutions

There are more than 3000 modules available an organization can choose from and install as per their requirement of the business. Some of the most commonly used modules are sales, purchase, inventory and accounting.

As mentioned above today we will be throwing some light on accounting module of odoo. Let’s learn its features and benefits:

FEATURES OF ODOO ACCOUNTS

Time Efficient 

·         Fast & easy user interface.

·         Mobile Accessible.

·         Reduced data entry.

·         Automatic generation of invoice

Manage Net Receivables

·         Create full-featured invoices.

·         Supports multiple payments.

·         Automatically create invoices.

Easy Payments 

·         Supports major payment gateways.

·         Supports online payment with credit cards.

·         Get clear reports on customer statements.

Manage Expenses

·         Track employee expenses, manage validation and reimbursements.

·         Get forecasting of expenses done.

Bill Payments  

·         Print checks in batch in few clicks.

·         Deposit tickets and keep track of it.

·         Support your payment flows with optional validation steps.

Reconciliation Made Easy

·         Comes with smart reconciliation tool.

·         Audit differences between your accounts and bank statements.

·         Match most of the invoices automatically and quickly.

 

Performance reports  

·         Gets business intelligence reports.

·         Create your dashboard by assembling custom reports.

·         Gives you the freedom to annotate any report.

·         Automatic generation of invoice.

Assets and Revenues

·         Track assets, depreciation and generate amortization entries automatically.

·         Manage multi-year contracts, automate different revenues.

Subscriptions

·         Manage subscription and recurring revenues easily.

·         Manage multiple subscription plans.

·         The customer can change their plan order through separate customer portals.

 

BENEFITS OF ODOO ACCOUNTS

  • Accurate: Unmatched accuracy, no room for error.

  • Fast and Reliable: Easy to input information without wasting any time.

  • History: Have complete history stored in your database?

  • Speed: Speed up business accounting process.

  • Invoicing: Create professional invoices and easily track payments.

  • Stay Updated: Stay organized with ODOO account, know where you stand financially at any time of year.


To know more about Odoo contact us anytime.