ODOO in Accounting

Accounting is undoubtedly one of the crucial departments in any kind of industry/company. ODOO/OpenERP assists the companies in all accounting related process, and has numerous specifications which provide end-to-end solutions from simple to complicated functions like: Invoicing, Bank reconciliation, Multi-language support, managing contact registers, etc.

List of features of ODOO ERP in accounting.

In this ODOO module, creation of invoices are possible without spending much time, recurring bills/invoice are managed, payments are easily tracked. Invoices can be automatically created from sales orders and delivery orders.

With ODOO support, supplier invoices are managed easily, and details of on-coming bills are transparent.

Through ODOO ERP for payment follow-ups, reminders can be sent to debtors with easy steps. Bills can be automatically created from Purchase order and Material receipts.

In this ODOO module, balance sheet, cash flow statements, earning reports, etc., can be created easily, and analysis of data is not difficult anymore.

With ODOO ERP, audit differences between your account and your bank statement balances to ease reconciliation either partially or fully, and files can be imported easily.

In the ODOO module contact management feature, information of contacts can be stored, internal notes can be added, and purchase/sales settings can be set to each contact.

Reports of customer statements can be viewed easily. Through customer portal, they can view their payments, invoices, and track order status.

In this ODOO app payments are not restricted to just one option. Multiple payment gateways like: PayPal, Adyen, Ingenico, Authorize.net, etc., are available.

With ODOO ERP, bank reconciliation propositions are generated automatically. 95% of payments and invoices are automatically matched by the ODOO module, thus minimizing the work load.

With the help of ODOO web service API, third party applications can be connected.  Also, this ODOO app supports languages like: PHP, Python, Java, ruby, etc.

For managing budgets and commission plans more effectively, Google spreadsheet can be connected to ODOO SaaS and data can be automatically collected from ODOO.

Using the in-built import export tool in this ODOO module, mass data can be imported and exported through excel sheets.

In ODOO ERP, currency rates are automatically updated every day, and also statements like: VAT statement, Profit & Loss statement, Balance Sheet, Intrastat reports, etc., are available country-specific.

With this ODOO module, assets and depreciation boards can be tracked easily and also amortization entries are generated automatically. ODOO ERP supports tax computations in a wide range, which includes tax on taxes, partial exemptions, percentage, etc.

With ODOO ERP, based on contracts, departments, projects, etc., accounts can be structured. And entries can be automated based on work orders, supplier bills, timesheets, etc.

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