Accounting Management

• General Ledger: The module provides a robust general ledger system that records all financial transactions. It supports multi-currency accounting and can handle complex accounting structures with multiple companies or branches.
  
  
• Chart of Accounts: Businesses can customize their chart of accounts to suit their specific needs. The module supports predefined templates that can be adjusted as required.

Invoicing​

• Customer Invoices: Businesses can create and design their own quotations as well as create and send invoices to customers directly from the system. Recurring invoices and payment reminders can be automated.
  
  
• Vendor Bills: The module allows for the easy recording and management of vendor bills, ensuring timely payments and maintaining good supplier relationships.
  
  
• Credit Notes: Odoo simplifies the process of issuing credit notes and managing returns or refunds.
  

Expense Management

• Expense Reporting: Employees can submit expense reports directly through the system. Managers can review, approve, and reimburse expenses efficiently.
  
  
• Expense Tracking: The module helps in tracking and categorizing business expenses, aiding in better budgeting and cost control.
  

Bank Reconciliation

• Bank Statement Import: Odoo supports the import of bank statements, making it easier to reconcile accounts. The system can automatically match transactions to minimize manual effort.
  
  
• Reconciliation Tools: Advanced reconciliation tools help identify discrepancies and ensure that bank records match the company’s accounting records.

Payments

• Payment Processing: The finance module supports various payment methods including wire transfers, checks, and credit cards. Automated payment processing can reduce the time spent on manual transactions
  
  
• Payment Follow-up: Automated follow-up actions for unpaid invoices help in improving cash flow management.​

Financial Reporting

• Standard Reports: Odoo provides a range of standard financial reports such as profit and loss statements, balance sheets, journals, cash flow statements, partner reports and tax reports.
  
  
• Custom Reports: Businesses can create custom reports to meet specific needs and close off financial periods allowing you to compare reports from different years. These reports can be scheduled and shared with relevant stakeholders automatically.

Tax Management

• Tax Configurations: The module supports multiple tax configurations, including VAT, GST, and other regional taxes. It ensures compliance with local tax laws.
  
  
• Tax Reporting: Automated tax calculations and reporting help businesses meet their tax obligations without errors.

Budgeting and Forcasting

• Budget Planning: Businesses can set up budgets for various departments and projects. The system tracks actual performance against budgeted figures
  
  
• Financial Forecasting: Tools for financial forecasting help in predicting future revenue, expenses, and cash flow, aiding in strategic planning.

Integration with Other Modules

• Sales and Purchase Integration: Seamless integration with sales and purchase modules ensures that all financial transactions are recorded accurately, enhancing transparency and accuracy.
  
  
• Inventory Integration: Integration with inventory helps in tracking the financial impact of stock movements, cost of goods sold, and inventory valuation.

Multi-company and Multi-currency Support

• Multi-company: Odoo supports financial management across multiple companies or subsidiaries within a single system, allowing for consolidated financial statements and reporting.
  
  
• Multi-currency: The module handles transactions in multiple currencies, providing automatic currency conversion and exchange rate updates.