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Ametnes Retail ERP - Getting Started with the Accounting Module#

Table of Contents#

Accounting

Introduction#

Welcome to Odoo Accounting! This user manual will help you navigate and understand the basics of Odoo's accounting application. We'll walk through the essential features and concepts you need to get started with managing your company's finances.

Accounting Features#

Odoo Accounting includes all the standard features you'd expect from accounting software: - Managing invoices and payments - Reconciling bank transactions
- Handling budgets - Processing vendor bills

Accessing Odoo Accounting#

Opening the Accounting App#

  1. Log into your Odoo database
  2. Click on the "Accounting" app from your menu left sidebar

Understanding the Dashboard#

When you first open Odoo Accounting, you'll see the main dashboard with a kanban view layout. This dashboard contains tiles representing different journals, allowing you to quickly handle common accounting tasks.

Quick Actions Available#

From the dashboard, you can immediately: - Create new customer invoices - Upload vendor bills - Reconcile bank transactions - Access other frequent accounting workflows

Customer Section#

The "Customers" menu contains everything related to your customers:

  • Invoices: Create and manage customer invoices
  • Credit Notes: Process customer returns and adjustments
  • Payments: Track customer payments
  • Follow-up Reports: Generate reminders for customers with overdue accounts
  • Additional Reports: Various customer-related financial reports

Vendor Section#

The "Vendors" menu mirrors the customer section but for suppliers:

  • Vendor Bills: Record and manage supplier invoices
  • Refunds: Process vendor credits and returns
  • Payments: Handle payments to suppliers
  • Vendor Bank Accounts: Set up payment files

Accounting Section#

This section contains more detailed accounting functions:

  • Journal Items: Individual debit and credit entries
  • Journal Entries: Complete balanced transactions
  • Analytic Items: Track costs by department or project
  • Budget: Manage budgets and forecasts
  • Assets: Handle fixed asset management
  • Reconcile Bank Transactions: Match bank statements with records
  • Lock Dates: Prevent entries after specific dates

Reporting Section#

Access all your financial reports here:

  • General Ledger: View all account balances and transactions
  • Financial Statements: Balance sheet, profit & loss
  • Aged Reports: Payables and receivables aging
  • Deferred Items: Deferred expenses and revenue

Configuration Section#

Set up and customize your accounting system:

  • Journals: Organize different types of transactions
  • Payment Terms: Define customer and vendor payment conditions
  • Taxes: Configure tax rates and rules
  • Chart of Accounts: Manage your account structure

Core Accounting Concepts#

Understanding Journal Items#

A journal item is either a debit or credit entry - simply an amount being added to or subtracted from an account.

Useful Tip: The journal items view becomes very powerful when you group or filter it. For example, you can group by journal entry to see related transactions together.

Journal Entries Explained#

A journal entry is a collection of journal items that must be balanced (total debits must equal total credits). Every business transaction creates a journal entry:

  • Customer invoices create journal entries
  • Vendor bills create journal entries
  • Payments create journal entries
  • Bank transactions create journal entries

Journal Items vs. Journal Entries - What's the Difference?#

You'll see both options in your menu:

  • Journal Items View: Shows detailed information about individual debit and credit lines
  • Journal Entries View: Shows information about the complete transaction as a whole

Both views are useful for different purposes - the journal items view for detailed analysis, and the journal entries view for understanding complete transactions.

Configuration Basics#

What Are Journals?#

Journals are simply collections of journal entries that help keep everything organized. Think of them as filing cabinets for different types of transactions:

  • Customer invoice journal
  • Vendor bill journal
  • Bank transaction journal
  • Manual entry journal

You can see these different journals represented as tiles on your main dashboard.

Essential Configuration Items#

In the Configuration menu, you'll find important setup options:

  • Payment Terms: How long customers have to pay invoices
  • Taxes: Sales tax, VAT, and other tax configurations
  • Chart of Accounts: The structure of all your financial accounts

Most of these configuration topics are covered in detail in other parts of this documentation series.

Reports Overview#

General Ledger#

The general ledger shows all your accounts with their current balances of debits and credits. You can:

  • Expand each account to see the individual journal entries
  • View the general ledger for specific time periods
  • See how individual transactions build up to account balances

Key Financial Reports#

The reporting menu includes essential business reports:

  • Balance Sheet: Shows your company's financial position
  • Profit and Loss Statement: Shows your company's financial performance
  • Aged Payables: Shows what you owe vendors and when it's due
  • Aged Receivables: Shows what customers owe you and how old their debts are
  • Deferred Expenses and Revenue: Tracks prepaid and accrued items

Next Steps#

This manual covers the fundamental navigation and basic concepts of Odoo Accounting. You now understand:

  • How to access and navigate the accounting application
  • The purpose of the main dashboard and menu sections
  • Basic accounting concepts like journal items and journal entries
  • Where to find configuration options and reports
  1. Start Simple: Begin by exploring the dashboard and creating a few test invoices
  2. Learn Navigation: Practice moving between different menu sections
  3. Understand Reports: Look at the general ledger and basic financial statements
  4. Advanced Features: Gradually explore more complex features like analytics and budgets

Getting Help#

  • Each advanced feature mentioned in this guide is covered in detail in other documentation sections
  • Take time to explore each menu section at your own pace