Accounting is the most important part of any organization. With accounting, any business can easily gauge the economic activities and come up with reports that can be shared with the stockholders.
With Business growing exponentially, having a system that is completely integrated with sales and inventory is a must for business to survive.
Odoo is a versatile product and offers features for almost all the process related to the business. Accounting is no different. With the Accounting, Odoo Solution business can easily solve all their accounting problems and control each transaction using the automated features of the solution. Other important features that Odoo Accounting Solution are General Ledger Management, Cash and Asset Management, Bank Reconciliation, Cost Centre and KPI, Extensive Reporting and much more
General Ledger Management
General Ledger contains all the information about all transactions that take place within the organization. With General Ledger Management, business can easily work on other facets of accounting. All the information can be inputted and formatted according to the company's policy.
Controlling and Budget Management
With Odoo Accounting solution, Business can control resources with minute details. They also provide budget management so that the business doesn’t go off track from their budget. With complete control, business can easily flourish with the help of the Accounting Odoo.
Cash and Asset Management
Cash and Asset Management is another important feature of Accounting Odoo Solution. Both tangible and intangible assets can be controlled using the cash and asset management. All cash flows, i.e. inflow and outflow are monitored using Odoo Accounting solution.
With tons of information at the disposal, accountants can easily forecast the financial growth or investment in the business. Odoo Accounting Solution provides the necessary tools and information for financial forecasting. With forecast, business can take the right course of action, increasing its odds of success.
Compliance refers to the rules and regulations that govern the working environment of the organization. With Compliance Management, business can easily set quality, financial bars and other compliance rules for better functioning of the systems.
Bank Reconciliation is matching general ledger of the company with the bank statements. With Odoo Accounting, business can complete the bank reconciliation process every month and save precious time.
Online Invoicing and Expenses
With everything moving online, business can easily create invoices online and also track expenses. This way the stakeholders can get the payment way faster and contribute to the growth of the organization. Smooth transactions and expenses are achieved using the Online Invoicing and Expenses.
Cost Centre and KPI
Keep track of all the cost center elements of the business such as Research and Development, marketing or other forms of activities that do not add profit to the business, directly or indirectly.
With all the information available at the dashboard, business can easily improve on the past performance and create interesting reports.
Reporting is the basic form of providing information to other stakeholders. With tons of information available through the dashboard, accountants can easily create extensive reporting, which in turn can help the managers to take strategic actions.