Odoo accounting is an excellent platform for accounts payable operations. First, it includes features that allow you to digitalize your business bills, categorize your payments, and deposit each bill’s ticket for accurate reconciliation.
Odoo’s accounts payable tool includes employee expense tracking, supplier bill validation, and expense forecast features. These features help you pay your bills correctly and also monitor your expenses. You also have batch check printing and wire transfers options to make your AP operations more convenient.
Honestly, Odoo accounting does make accounts receivable operations easier than you can find with a host of other more expensive software. The AR’s aged receivable balance and customer reports help you monitor your AR operations effortlessly.
Odoo accounting’s follow-up tools also come in very handy in reducing the awkwardness of credit collection. Each of your clients also gets to have a customized portal. And from this portal, they can monitor their orders with your business, check each invoice and complete each order’s payment with their credit cards or by scanning QR codes generated by the system.
Cash and Bank
Odoo accounting’s cash and bank management feature empowers users for error-free reconciliation. In addition, its direct reconciliation proposition ensures that your payments (online, cash, and bank) are rightly matched with your invoices.
The software supports more than 15,000 banks and allows for automated bank feed, accurate register management, and multiple-format statement transfer. You also have system-generated reconciliation reports to help you during auditing.
Analytic accounting hasn’t been more simplified than in the Odoo accounting software. With this feature, you can manage more than one analytic account, automate their structures, integrate and rightly distribute your entries across your accounts.
The Odoo accounting app features an all-encompassing revenue tool to help you identify, manage and grow your business assets.
Odoo takes account reporting a notch higher by ensuring that you can generate reports and synchronize them across multiple company profiles. From its customizable dashboard, you can automate the calculation of your P and L, annotate each report and set your users’ lock entry.
Odoo accounting also features an elaborate tax management tool that enables you to generate audit, journal, cash, and accrual tax reports. You also have access to a general ledger, balance sheets, and cash flow statements unique to your country of operation.