Accounting is probably the most vital and essential issues with every business. Proper accounting management may have a direct effect on the company profit and will reduce losses. Managing the accounting tasks of an company is not too easy particularly if it is done manually. Manual accounting management can also increase the probability of errors which enables it to adversely affect the corporation revenue as well as the overall business performance. Now, here comes the role of the ERP for managing accounts. And in it, Odoo ERP stands apart to be the top ERP solution for accounting management.
Odoo’s latest version, Odoo 15 has a separate, new, and improved Accounting module for automating and efficiently managing the accounting calculations, creating this faster, easier and reducing the probability of errors and data redundancy.
Here are definitely the features in the Odoo 15 Accounting module, outlined by a professional in Odoo in Australia.
Dynamic accopunting management:
Odoo version 15’s Accounting module assists in clean and dynamic accounting management. The dashboard in this module has easier and advanced accounting management features. The dashboard guides a gamers with the accounting procedures and provides grouping and filtering options. With this feature, it is possible to manage the taxation statements and even configure the accounting periods. You can also record the first balances and place up the charts of accounts. Considering the reviews in the accounting charts, you can even set the default taxes for sales and buying transactions. In simple words, you may say that this well-organised dashboard gives use of most from the accounting operations.
Easy integration using the other modules:
For managing the accounting tasks, you’ll need different data from your other modules at the same time. And this new Accounting module of Odoo 15 allows simple and fast integration with all the other modules.
Customer accounting management:
At the ‘Customers’ tab in this Accounting module, you may efficiently manage your customers’ invoices, payments, credit notes, batch payments, direct debit mandates, check in reports, products and customers. The customers’ list can be updated and new clients can be included with the list at the same time. The follow-up reports from the customers as well as the invoices might be easily executed.
Vendor accounting management:
The financial tasks and also the accounting operations which might be related to the vendors’ accounting may be also managed easily through this new and advanced Odoo 15 Accounting module. Depending on the products delivered and ordered from and to the vendors, vendor bills may be now automatically generated. Also, in case you want to switch any goods, you are able to choose the refund options and ask for to refund the exact amount. Making payments and tracking the status with the same can be made easy using this Odoo 15 accounting module. You can update the seller list too.
Dynamic financial statements:
At the ‘Accounting’ tab of the new module, users will also have a take a look at various financial statements. Ledger and journal entries associated with sales, purchases, cash, back payments, etc., may be easily viewed and checked with this particular. You can also create automatic transfer entries which enable it to view the automatic transfers made before too. You may also create multiple budgets and will check and track the budgets periodically. Managing deferred revenues and expenses is usually done through Odoo 15 Accounting module likewise.
To conclude, Odoo version 15’s Accounting module is usually considered because perfect and comprehensive solution for digitising accounting operations. With the advanced top features of this module from the ERP, managing your company accounts might be a piece from the cake.