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It facilitates businesses in maintaining a check on bank balances, accounts receivable, and accounts payable. Odoo 12 accounting software can micro-manage every financial activity of a business. Unsupported banks can use OFX, QIF, CSV or Coda files to import statements easily. Businesses can get their bank statements synced with their bank accounts automatically with Odoo 12 Accounting Software. The feature is added to prevent an accountant from manually entering the data and achieve maximum accuracy.ĭocument Management- The recently added DMS (Document Management Module) feature facilitates accountants to search for new documents through tags and folders.īank Synchronization: Odoo’s recently collaborated with 15,000 banks from the US, Canada, and New Zealand. OCR Feature for Maximum Accounting Efficiency: Recently updated Odoo 12 Accounting software has OCR (optical character recognition ) feature to scan receipts and bills. Latest Additions in Odoo 12 Accounting Software It also suggests outstanding payments automatically at the time of creating an invoice so as to prevent accountants from reconciling it later.Īutomatically proposes follow-ups letters, emails, and tasks to ease the credit collection process. Odoo automatically creates draft invoices by evaluating sales orders, timesheets or delivery orders. Odoo speeds up the bank reconciliation process to transport bank statements from your bank to the Odoo bank account.
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It enables businesses to create cash reports, financial reports, management reports, performance reports in real-time. The accounting software provides multiple currency support in more than 50 countries to facilitate the smooth exchange of services. It facilitates users to receive instant access to their account details on-the-go using smartphones or tablets. Robust software efficiently supports and manages transactions of multiple companies. Odoo 12 Accounting supports accrual and cash basis methods to report income or expense at the time of evaluating transactions. The double-entry bookkeeping software is put into practice to stabilize journal entries. Oddo creates an additional entry of every transaction like invoices, the point of sales (POS), customer invoices and more. Let’s Explore Some Benefits of Accounting with Odoo 12 Accounting Software Businesses can also customize their dashboard data with shows charts and KPIs important to them. Odoo allows businesses to easily create these reports using internal data. Odoo synchronizes directly with your bank accounts to get bank statements imported automatically in Odoo in every 4 hours.īusinesses constantly monitor their accounting reports to evaluate profit and loss, cash flow, tax audit statements, and more. Odoo Accounting module makes it easier for businesses to reconcile their invoices with banks and other systems in real-time. It supports main payment gateways like, Ingenico, Paypal, Adyen, etc.
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With Odoo accounting module businesses can even process their payments through payment gateway connectors, credit cards, debit cards, wire transfers and more. The software also facilitates accountants to split an invoice into multiple payments or payments into multiple invoices.
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Odoo Accounting software enables businesses to manually create and send invoices through an invoicing app or a sales app. Let’s explore some basic features of Odoo Accounting The software is connected to sales, Odoo Invoicing, manufacturing, inventory, subscriptions, POS, eCommerce, sales, expenses, and more for providing complete accuracy. With Odoo 12 Accounting businesses can record their transactions process payments create, send, and reconcile invoices and audit statements. Every business needs a secure accounting software that can enable them to monitor their progress, record assets and liabilities, maintain ledgers to evaluate the economic position of a company.