Odoo COST ACCOUNTING
Management control plays a crucial role in optimizing performance for any business. At We Doo Accounting, our deep understanding of effective management needs is reflected in our ability to assess, anticipate, and guide your company's financial strategies.
Cost accounting - Control your profitability with precision
General accounting tells you what you've spent and what you've earned.
Cost accounting tells you how, where and why you generated those results.
At We Doo Accounting, we help ambitious companies to implement solid, pragmatic cost accounting with Odoo, turning their figures into strategic decisions.
What is cost accounting?
Cost accounting, also known as management accounting, is an accounting system for analyzing a company's costs and performance. It aims to provide internal information useful for decision-making, and will be used to analyze and steer the company. The approach is based on cost center, product, service, project or activity, rather than balance sheet, income statement and tax return.
Cost accounting is not compulsory, but it is very useful for steering the company's performance (financial, technical, human, social) and linking strategic decisions to operational execution.
Don't confuse general accounting with cost accounting
General accounting and cost accounting are sometimes mistakenly equated, but they have very different rationales.
| ANALYTICAL ACCOUNTING | FINANCIAL ACCOUNTING |
|---|---|
| Analyzes the costs and profitability of activities or products. | Provides an overview of the company's financial situation. |
| Used by management and internal managers. | Intended for external parties (shareholders, creditors, tax authorities). |
| Flexible, not governed by strict standards. | Governed by accounting standards (GAAP, IFRS, etc.). |
| Adaptable frequency: monthly, weekly, daily. | Standard frequency: annually or semi-annually. |
| Detailed and cost-specific data. | General financial data. |
| Cost calculation methods (full cost, variable cost, etc.). | Double-entry bookkeeping. |
| Focuses on cost analysis and profitability. | Focuses on financial statements (balance sheet, income statement). |
| Internal reports (dashboards, cost analyses). | External reports (balance sheet, income statement). |
| May include forecasts and forward-looking analysis. | Based on past transactions (historical). |
| More complex, requires detailed analysis. | More standardized, generally less complex. |
| Enables comparison between players in the same market. |
However, despite these distinctions, well-established general accounting is the cornerstone of effective management accounting.
Without accurate, well-organized financial data, it is difficult, if not impossible, to carry out relevant analyses and make informed business management decisions.
Why implement cost accounting in your business management?
Implementing cost accounting doesn't mean adding unnecessary complexity.
It's about giving your company the means to better decide, better control and better succeed.
Ask yourself the real question:
➡️ How much is the absence of reliable cost accounting costing you today?
Delayed decisions, misallocated resources, misaligned sales prices... This invisible cost can represent tens or even hundreds of thousands of euros a year.
Strengthen your corporate strategy
- Base your strategic decisions on a clear vision of your profitability by segment.
- Align your resources with your real, not assumed, growth drivers.
Accelerate your performance
- Continuously monitor your profitability indicators and strategic KPIs.
- Quickly identify areas for improvement and take action without waiting for the annual closing.
Empower your teams and increase transparency
- Make each department responsible for its own costs and performance.
- Foster an internal culture of responsibility and optimization.
Adapt faster to market changes
- Understand the immediate impact of changes on your costs and profitability.
- Adjust your offers, your prices, your strategy without waiting to be confronted with losses.
Plan better, pilot with anticipation
- Build accurate budgets based on actual costs.
- Develop more reliable financial forecasts.
- Correct your trajectories before deviations become critical.
Control your costs, boost your profitability
- Distinguish between fixed and variable costs by activity.
- Identify inefficient expense centers.
- Optimize your processes to reduce costs without undermining your operations.
Decide faster and more accurately
- Analyze your costs by product, service, customer or project.
- Clearly identify what's profitable... and what's not.
- Base your pricing, sales and investment decisions on fact, not intuition.
Is cost accounting in Odoo possible ?
Of course you can!
Odoo offers an integrated solution that combines cost accounting with other modules such as sales, purchasing and inventory management. This gives you a global view of your business and makes it easy to track costs and performance.
Highly customizable, you can tailor reports and dashboards to your specific needs, enabling you to track the key performance indicators (KPIs) that are relevant to your business.
With Odoo and its integrated cost accounting management, excessive use of sub-accounts becomes unnecessary, simplifying the general chart of accounts and avoiding its overload, common in software that doesn't offer cost accounting.
With Odoo, you can generate analytical reports in real time. This enables you to make informed decisions quickly, based on the latest data.
Odoo's user interface is intuitive, making it easy for users to get to grips with, even those with no in-depth accounting training.
It also enables you to track costs by project, department or cost center, which is essential for effective cost accounting. This helps you identify profitable areas and those requiring improvement.
Also, Odoo automates many accounting tasks, reducing the risk of human error and freeing up time to focus on data analysis rather than manual data entry.
Why call on We Doo Accounting to set up your ODOO cost accounting ?
At We Doo Accounting, we don't just produce accounts : we help you understand where and how your company creates (or loses) value.
With Odoo, we set up a customized cost accounting system, adapted to your structure and your challenges.
Our approach is practical and results-oriented :
Analysis of your business model
We analyse your activities, products, customers and projects to understand how they generate value.
Definition of a customized analytical structure
Cost centers, multiple analytical axes, automatic allocation rules: we build a system aligned with your strategic challenges.
Full settings in Odoo
We integrate your cost accounting directly into your Odoo environment to guarantee automated, reliable data entry.
Support for operational use
Train your teams, create customized reports, set up management alerts.
Monitoring and upgrading your analytical system
As your business evolves, so must your cost accounting structure. We offer ongoing support to adjust and improve your cost accounting in line with the evolution of your business and changes in the market...
Time savings
By trusting us to set up your cost accounting, you free up time to concentrate on your core business. So you can concentrate on growing your business.
A team of experts
At We Doo Accounting we have a team of cost accounting experts who understand the specifics of your industry. Our in-depth knowledge enables us to provide advice tailored to your needs.
When you call on We Doo Accounting for your cost accounting, you benefit from expertise, customized solutions and ongoing support, while optimizing your financial management.
Business expertise :
Our knowledge of SMEs, ETIs and international groups enables us to speak your language and adapt our tools to your operational reality.
Odoo expertise :
We harness the full power of Odoo to make your cost accounting fluid, reliable and useful.
Strategic vision :
Cost accounting is not an end in itself. It is there to support your management decisions and your growth.
our assets
FAQ : Our control management
What does controlling involve at We Doo Accounting ?
Controlling at We Doo Accounting involves in-depth monitoring and analysis of your finances, helping to optimise your business performance through bespoke dashboards, detailed reporting, and budget forecasting
How can your controlling services help my business ?
Our services provide a better understanding of your company's financial situation, facilitate strategic decision-making, and help plan and anticipate future financial needs.
Do you use specific tools for management control ?
We use Odoo to strengthen management control and reporting, offering customised and integrated solutions that adapt to your specific needs.
What types of financial analysis do you offer ?
We offer detailed financial analyses that provide a clear view of your economic situation, helping you to make informed strategic decisions.
How can We Doo Accounting help optimise my company's resources ?
We identify and maximise your company's performance assets, helping to optimise the use of resources for sustained growth.
Do you offer strategic advice on financial management ?
We offer relevant strategic advice based on our financial analysis and in-depth understanding of your business to drive growth
Our other prestations