Accounting Management

odoo Accounting Management Seamlessly connects to your entire enterprise. Your accounting staff can focus their efforts on analysis and follow-up rather than data entry. Use full-featured AR, AP and GL functionality with automatic data population driven by real-time events. Leverage other standard accounting features like budgeting and bank reconciliation for tighter management of your finances.

1. Accounts Receivable

  • Maintain a comprehensive receivables history.

  • Create customer invoices including consolidated billing in real time.

  • Manage outstanding and historical receivables.

  • Process deposits.

2. Accounts Payable

  • Maintain a comprehensive payables history.

  • Create supplier invoices in real time.

  • Manage outstanding and historical payables.

  • Process payments in multiple currencies.

3. Allocations

  • Create journal entries allocating activity from one account (or group of accounts) to another account (or group of accounts).

  • Define percentage for allocation between accounts.

  • Utilize system-defined cost drivers to determine allocation percentages.

4. Budgeting

  • Set up monthly and annual budgets for revenue and expense GL accounts.

  • Use standard and custom reports to analyze performance and variance to budget.

  • Upload standard CSV files for quicker budget input.

  • Compare financial reports with multiple budgets.

5. Bank Reconciliation

  • Balance all accounting transactions posted to cash accounts against bank statements in real time.

  • Reconcile foreign currency transactions and auto create foreign exchange adjustment transactions, when appropriate.

  • Maintain a running total of the bank balance as each transaction clears.

  • Provide individual bank reconciliations for each bank.

6. General Ledger

  • Enter and manage journal entries, including automated reversing entries in real time.

  • Report transactions in real time.

  • Enter transactions in a foreign currency, with an exchange rate for conversion to your domestic currency.

  • Set up recurring transactions to automatically create each Accounting period.

  • Maintain a detailed transaction revision history.