Odoo Accounting - Invoice & Financial Management
Comprehensive invoice, payment and accounting management system for businesses
The Invoicing (Accounting) module is a complete invoice, payment and accounting management system in Odoo. This module provides full functionality from creating customer invoices, registering payments, bank reconciliation to generating financial reports.
With high automation capabilities, multi-currency support and deep integration with other modules, Accounting helps businesses manage finances efficiently and comply with accounting regulations.
Feature Overview
The Accounting module provides a comprehensive financial management solution with main feature groups:
Main Feature Groups
| Feature Group | Description | Module Count |
|---|---|---|
| Core Accounting | Invoices, payments, reconciliation, basic reports | 7 modules |
| Bank Statements | Import and process bank statements from multiple formats | 6 modules |
| Tax Automation | Tax automation with AvaTax, external tax | 5 modules |
| Electronic Invoicing | PEPPOL e-invoicing, EDI, UBL/CII | 4 modules |
| Document Processing | OCR and AI data extraction from invoices | 4 modules |
| Fleet & Vehicles | Tax and accounting management for fleet | 3 modules |
| Payment Methods | Online payment, QR codes, SEPA | 5 modules |
| International Compliance | ISO 20022, SAFT, international compliance | 3 modules |
| Budget Management | Purchase budget management | 1 module |
| Tax Management | Tax categories, Python tax, tax updates | 4 modules |
| Professional Tools | Professional accountant tools | 4 modules |
| Data Migration | Import from Winbooks, bank sync | 2 modules |
| Credit & Debit | Credit and debit note management | 1 module |
| Testing & Dev | Testing and development module | 1 module |
Basic Accounting Terminology
Accounting Terms
| English | Vietnamese | Description |
|---|---|---|
| Customer Invoice | Hóa đơn bán hàng | Invoice issued to customers |
| Vendor Bill | Hóa đơn mua hàng | Invoice received from suppliers |
| Credit Note | Phiếu ghi có | Invoice adjustment for reduction |
| Payment | Thanh toán | Money payment transaction |
| Reconciliation | Đối chiếu | Matching payments with invoices |
| Journal Entry | Bút toán | Accounting record |
| Journal | Sổ nhật ký | Transaction recording book |
| Account | Tài khoản | Accounting account |
| Tax | Thuế | Value Added Tax |
| Due Date | Ngày đến hạn | Payment deadline |
Invoice Status
Invoice Status
| English | Vietnamese | Description |
|---|---|---|
| Draft | Nháp | Newly created invoice, not posted |
| Posted | Đã ghi sổ | Invoice recorded in accounting books |
| Cancelled | Đã hủy | Invoice has been cancelled |
Payment Status
| English | Vietnamese | Description |
|---|---|---|
| Not Paid | Chưa thanh toán | Invoice not yet paid |
| In Payment | Đang thanh toán | Payment in progress |
| Partially Paid | Thanh toán một phần | Partially paid |
| Paid | Đã thanh toán | Fully paid |
Main Menu Structure
The Accounting module is organized by main functional groups:
Steps
1. Customers: Manage customer invoices and payments from customers
2. Vendors: Manage vendor bills and payments to suppliers
3. Accounting: Journal entries, bank reconciliation, account management
4. Reports: Financial reports and invoice analysis
5. Configuration: Configure journals, accounts, taxes, payment terms
Basic Workflow
Customer invoice processing workflow:
Steps
1. Create customer invoice in Draft status
2. Review and post invoice (Post) - creates automatic journal entry
3. Send invoice to customer via email or print PDF
4. Register payment when receiving money from customer
5. System automatically reconciles payment with invoice
6. Invoice changes to Paid status
Key Features
Key points
• Automatic journal entry creation when posting invoices
• Automatic bank reconciliation with AI matching
• Multi-currency support with automatic exchange rate updates
• Flexible tax management with multiple tax types
• Real-time financial reporting
• Integration with Sales, Purchase, Inventory
• Multi-company support in same database
• Electronic invoice export and PDF printing
User Groups
User Permissions
| Group | Permissions |
|---|---|
| Sales Staff | Create/edit customer invoices, view payments |
| Accountant | Create/edit invoices, register payments, bank reconciliation, view reports |
| Financial Manager | Full access: system configuration, journal management, tax configuration, reports |
Integration with Other Modules
Accounting integrates deeply with business modules:
Key points
• Sales: Automatically create invoices from sales orders
• Purchase: Automatically create bills from purchase orders
• Inventory: Automatic cost of goods sold recording
• Point of Sale: Sync revenue from POS
• Expenses: Record employee expenses
• Assets: Fixed asset management and depreciation
Best Practices
Steps
1. Post invoices promptly to keep accounting accurate
2. Use payment terms to automatically calculate due dates
3. Reconcile bank statements regularly (weekly or monthly)
4. Review invoices carefully before posting as they cannot be edited after
5. Use Credit Notes instead of deleting posted invoices
6. Backup data regularly before closing accounting periods
7. Configure automatic reconciliation rules to save time
System Requirements
To use the Accounting module:
Steps
1. Install account module (installed by default)
2. Configure company information and tax ID
3. Set up journals for sales, purchases, bank
4. Configure chart of accounts
5. Set up taxes according to local regulations
6. Configure currencies and exchange rates if using multi-currency