Odoo Financial Accounting Implementation

ODOO FINANCIAL ACCOUNTING -- A foundational piece of any successful Odoo implementation is configuring and running the Accounting module. Odoo Accounting is as good as accounting modules of traditional ERPs. But it does not have the quality of dedicated accounting software. Odoo connects directly to your bank or paypal account. Transactions are synchronized every hour and reconciliation is blazing fast. It's like magic.

Instantly create invoices and send them with just a click. No need to print them.Odoo can send them for you by email or regular mail.Your customers pay online, meaning you get your money right away.Odoo accounting is connected with all Odoo our apps such as sale, purchase, inventory and subscriptions.

This way, recording vendor bills is also super quick. Set a vendor, select the purchase order and Odoo fills in everything for you automatically. Then, just use the SEPA protocol or print checks to pay vendors in batches.

Note also that this new web client is also mobile responsive, meaning that the Odoo 9 Enterprise web interface adapts natively to small screens of smartphones, which is a real progress for all features.


Until version 8, our Odoo finance experts recommended our customers not to use the Pay Now button on invoices since this invoice payment method could be inconsistent with the reconciliation process through the bank statement. With Odoo 9, when you have already marked as paid some invoices via the Pay Now button, then these transaction lines also present in your bank statement will be ignored because existing.


One of the nice things about Odoo is that you can get up and running fairly quickly without having to spend a lot of time setting up complicated accounting and finance options. Odoo does a pretty fair job of creating a basic chart of account structures as a point to get started and to get familiar with Odoo. When setting up a production system for your company. However, you will want to take time to properly define your accounting requirements.

Financial Accounting with Odoo provides a step by step approach, starting with initial system setup and continuing through closing and reporting procedures. Following this approachto configure Odoo ERP to produce accurate and complete results.

For running Odoo Financial Accounting you must configure accounting module in Odoo. This step include :
  1. Installing the Accounting and Finance application
  2.  Examining the chart of accounts
  3.  Create transactions in accounting
  4. Adding new custom accounts