Odoo Accounting


Odoo is an amazing ERP software than cover a lot of different area to manage a company. With Odoo you can manage your company on this different domains : Sales, Invoicing, Accounting, Inventory, Purchase, HR, Maintenance, Repair, Subscription, Rental, Point of Sales, E-commerce, CRM, Project, Manufacture, PLM, Helpdesk, Field Services, Social Marketing, Marketing automation...

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Odoo Accounting

Odoo Accounting is one the module existing in Odoo. It is very powerful. You can manage all your company's accounting really easily. 

It will be linked with all the other modules that you have in Odoo and generate a big part of the accounting automatically

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​Odoo accounting features

Account Receivable

Create invoices easily

You can create your customer invoices really easily directly from the Odoo Accounting module or from a Sale Order. Odoo will manage Taxes, Payment Terms, discounts and price lists. It will help your business to invoice easily.

Configure advanced payment term

You can create advanced payment term like payment in multiple times with different delay.

Easy payment reconciliation

You can easily create a payment on the customer invoices directly or reconcile directly the payment received from your bank statement. It is very easy and it will save you a lot of time.

Receive Payment

Online Payment

We can configure your payment acquirer and your customer will be able to pay online directly.

Aged receivable balance

With the Aged Receivable balance, you have a clear and accurate view of your overdue payment.


You will configure your follow-up flow and the system will guide you to do your follow-up. You can also automatize this process and Odoo will send follow-up email for you.

Customer Portal

Your customers can access to their invoices, check the status and even paid online directly.

Account Payable

Automatic Vendor Bill completion

Odoo Accounting will digitalize your vendor bill and automatically extract the information with an amazing Artificial Intelligence.

Employee expenses

Employees can create expenses. The expense will follow a validation process and then you can easily do the payment for them.

Control vendor bills

Odoo accounting is linked with Odoo Purchase. You can control the vendor bill received regarding the purchase order and also regarding the real quantity received.

Pay your bills

Automate wire transfers

You can paid your vendor bill and generate easily a payment file with all the expected payment date in.

Print checks

You can print your check directly from Odoo accounting.

Bank and Cash

Bank synchronization

Your bank statements are directly imported in Odoo Accounting and you can do your bank reconciliation easily.

Cash registers

You can track all your cash transaction with opening and closing.


Reconciliation Model

You can create reconciliation models that will suggest you how to reconcile. You can even automatize your reconciliation.

Outstanding payment

You can easily track your payment and reconcile them with your bank statements. You can control your outstanding payment at any moment.



Odoo supports all currencies and you can connect with multiple sources to get the rate updated daily. Odoo accounting will manage automatically your transaction in different currencies and write the exchange difference.

Multi Companies

You can integrate all your subsidiaries in the same accounting software. You can create consolidate report even if the chart of accounts are different on each company. Odoo Accounting can also automatized you inter-company flows with specific rules. You can manage all your business at the same place.

Legal Statement

Profit & Loss

You can run your profit & Lost report in real time. Odoo accounting can also help you to configure your accounting to have an accurate profit and lost report by month.

General Ledger

You will access a very powerful general ledger and be able to navigate easily.

Tax Report

You get your tax report ready depending on your country You manage your sales tax easily.

Cash flow statement

You can easily follow your cash flow.

Balance sheet

You don't need to close and open your fiscal years. Your balence sheet report is very easy to navigate and search.

Analytic Accounting

Analytic account

You can create your own specific analytic account in order to be able to follow your profitability and budget regarding your own analysis axis.

Budget Management

You can define budgets for Expense and budget for Sales and you can track it day after day and manage the finance of your company.


Recurring invoices

Manage subscriptions and recurring revenues. The recurrent invoice is generated automatically, send to the customer. You can even save his credit card information and charge the customer directly. 

Deferred revenues

If your subscription is for a long period, you can generate automatically deferred revenues and spread your income on multiple years.


Asset Management

You can track your asset and configure the depreciation. The amortization entries will be generated automatically.

Your bank statement are directly imported in Odoo Accounting and you can do your bank reconciliation easily.

Inventory valuation

If you use the inventory module in Odoo, you can activate the automatic inventory valuation. With this option, your inventory valuation is automatically updated from the inventory. 

Odoo Accounting : How to configure it ?

Configure Odoo Accounting

To configure Odoo accounting, you need to configure correctly all this settings :

  • Import chart of account : Odoo has already a predefined chart of account but you need to match with your existing chart of account.
  • Fiscal year: If your fiscal year is not the same than the normal year, you can specify your yearly end date.
  • Product categories : On product category, you can configure the default income and expense account for all products in this category. You can also configure information regarding the inventory automatic valuation
  • Payment acquirers: You can configure how you will get paid. There are several payment acquirer already installed like PayPal or Stipe.
  • Journals: You have to configure all the journals you have.
  • Taxes: When you install your fiscal localization, Odoo will install all the default taxes for your localization. But you need to verify that it's correct.
  • Fiscal positions: If you are selling in multiple county, you need to configure fiscal positions in order to impact the good income account and to apply the good taxes.
  • Invoice payment terms: You can define What are the terms for your customer payments.
  • Bill payment terms: You can set your default payment terms for your suppliers.
  • Follow-up: You can configure the default follow-up process. You customize emails and letter that will be sent to your customers in late.
  • Bank accounts synchronization: You can configure the bank synchronization in order to get all your bank statements synchronized with Odoo every day automatically.
  • Currencies: Activate the currencies you need and set the automatic update for the rates.
  • Assets models: Define default depreciation model and accounts.
  • Default terms and conditions: Define default terms and conditions that are automatically added to your sale order and invoices
  • Online payment: You can allow your customer to pay online directly with your payment acquirers
  • Batch payment: Activate or not batch payment that allow you to group your payment on batch.
  • SEPA: Configure your SEPA information to be able to generate your SEPA Wired transfer to do in a file directly from Odoo
  • Invoice template: Customize your PDF Invoice as you want to match your requirements
  • OCR for vendor bill : This accounting software can read automatically your vendor bill and prefill the header and lines of the vendor bill
  • Check: Configure the format of check you want to print directly from Odoo to pay your suppliers
  • Analytics account and budget: Create the analytic account you want to manage your company and define budget to control your expenses

Import data

When everything is configured as well you must import the following data to go live :

  • Assets: Import all your asset and define the residual value to depreciate and the number of amortizations left
  • Deferred revenues: Import your deferred revenues
  • Deferred expenses: Import your deferred expenses
  • Balance journal entry or all the journal entries

Odoo accounting Training

It is important in term of project management to train your employees as well. We advice these trainings:

Invoicing and Account receivable

Demonstrate how the account receivable is working in Odoo, then ask the users to do exercises in a staging branch.

Ask them to:

  • Create an invoice for $1,000 directly from accounting and to register a payment.
  • Create a sale order for $500, then confirm the sale order, deliver the product and create the invoice from the sale order. Register a payment on this invoice.
  • Create a sale order for $1,500, then confirm the sale order and create a down payment for 50% of the amount. Deliver the product and create the final invoice from the sale order. Look at the partner ledger and find the $1,500
  • On the accounting side, create manually a statement with 4 lines $1,000, $500 and 2 times $750. Confirm the statement and launch the bank reconciliation screen. Reconcile all the lines with payments or invoices.

Account payable

Demonstrate how the account payable is working in Odoo, then ask the users to do exercises in a staging branch.

Ask them to:

  • Create a vendor bill for $250 and register a payment.
  • Create a vendor bill for $100, don’t create a payment.
  • Create a purchase order for $200, receive the products and create the vendor bill from the purchase order. Confirm the vendor bill.
  • Create a purchase order for $300, receive the product. Go on accounting, create a vendor bill and find the purchase order to link the vendor bill with the purchase order.
  • On the accounting module, create manually a bank statement with 4 lines $250, $100, $200 and $300. Confirm the statement and launch the bank reconciliation screen. Reconcile all the lines with vendor payments or vendor bills.

Asset and depreciation

Demonstrate how asset and automatic depreciation is working, then ask the users to do exercises in a staging branch.

Ask them to:

  • Create a vendor bill for a Computer for $2000, make sure the account is a current asset account type.
  • Create an asset and link with this vendor bill. Define the depreciation account and the amortization expense account. Confirm the asset and look at the generated draft journal entries.


Demonstrate how the profit and lost and the balance sheet are working, then ask the users to do exercises in a staging branch.

Ask them to:

  • Run the profit and lost for this month and to compare with the previous month
  • Run the balance sheet at the end of the previous month

Fiscal Position

Demonstrate how the fiscal position is working, then ask the users to do exercises in a staging branch. I advise you to customize it with the fiscal position they have.

Ask them to:

  • Create a new income account specially for a new fiscal position. If you already have an income account called "ABC", ask them to create a new income account called "ABC fiscal position B".
  • Create a new tax specially for a new fiscal position with the name TAX 1% and apply a tax at 1%.
  • Create a new fiscal position with:
    • A rule to replace the income account ABC by ABC fiscal position B
    • A rule to replace the tax by TAX 1%

Odoo Accounting : Who can help you ?

An Odoo Partner

Odoo partners are in general really good technically and very good to customize the software as well. But they are not accountant and they are often limited with their accounting knowledget

We Doo Accounting

We are the solution you need. We are accountant and we know Odoo as well. We will do your accounting directly in your Odoo and help you to optimize your use of Odoo.

Your Accountant

Your accountant is really good in accounting know your business. The problem is he use to work with only certain software. He will ask you to extract your data from Odoo to import in his software. And he will never learn Odoo and do your accounting in Odoo directly.


Odoo is a complete ERP software covering many business areas, including sales, accounting, inventory, HR, CRM, and more.

It includes accounts receivable and payable management, automatic completion of supplier invoices, bank synchronisation, multi-currency support, legal declarations, asset management and stock valuation 

Configuration involves setting up the chart of accounts, fiscal year, product categories, payment acquirers, journals, taxes, tax positions, bank account synchronisation, and more

Training covers invoicing and accounts receivable, accounts payable, asset and depreciation management, financial reporting, and tax position management.

How can We Doo Accounting help with Odoo ?

We Doo Accounting offers expertise in both accounting and Odoo. They provide accounting services directly in Odoo and help to optimise its use