Odoo Accounting helps companies manage their daily accounting with the utmost ease and simplicity. They even offer a global view of the state of their business at any time.
All financial activities can be managed in one single app, thanks to Odoo Accounting. Automation for primary day-to-day tasks is more than possible – it’s easier than ever! This app is synchronized with 24,000 banks, making it easier to link a payment with a statement, based on the transaction on your bank account. The reconciliation can also be done by importing the statement files (OFX, QIF, CSV, or Coda). And, with the new List view, users have greater visibility on document statuses and next activities.
To facilitate accounting management, Odoo automates a series of tasks, such as the creation of draft invoices based on the sales orders. The manager can validate the invoice if the sales order is correct, instead of creating a brand new one.
Odoo supports all of the main payment gateways: Authorize.net, Ingenico, Paypal, Adyen, etc. Also, it is possible for the company to use an automatic email system to remind customers to pay their delayed invoices. You can also have a clear view of your overdue payments (and the future ones) at any time. Apply ?Automatic Transfers? to specific partners; making intercompany transactions easier than ever before. Our latest version has improved batch payment error reporting, as well. Also, Batch Payments are now compatible with SEPA credit transfers.
This app supports multi-currencies, and the exchange rate is updated daily. This feature works with multiple users, based on access rights. If you want to use Odoo for multiple companies, it is also possible with different journals, based on the different companies, or by departments.
It is possible to analyze your performance through the various reports generated by this powerful app. Odoo integrates all the best practices KPIs (by default) to improve performance. The new design for financial reports in Odoo 14 shows the meaning of each section. There’s also new ?Unrealized Gains and Losses? reports that allow users to generate reevaluation journal entries.
On top of all that, Accounting is fully integrated with the Sales, Inventory, eCommerce, and Purchase apps, and the customer portal! It is, by far, the most seamless, user-friendly Accounting around.