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Accounting and finance

Finance connected to the transaction

Talk to us about the ledger

An invoice, a vendor bill, a stock movement and an approval are the same event seen from four desks. When they start in one system, the ledger stops being a monthly reconstruction of what everyone else already did.

An Odoo accounting dashboard, one card per journal.
Money in

An invoice that already knows what was sold and shipped

Lines, quantities and taxes carried from the order and the delivery rather than typed again, with what is still owed and how late it is on the same row.

An Odoo customer invoice list with due dates and amounts due.
Money out

Bills checked against the order and the receipt

A vendor bill lands beside the purchase order it belongs to and the goods that actually arrived, so the difference is visible before it is paid rather than after.

An Odoo vendor bill list with references and amounts.
The bank

Statement lines matched, not retyped

The statement arrives, and each line is offered the invoice or bill it probably settles. The work becomes confirming a match rather than hunting for one.

Odoo bank matching, statement lines beside their invoices.
Tax

The rate that applies, decided by configuration

Which tax a line takes follows the product, the customer and where they are — set once in the fiscal setup rather than remembered per invoice.

Odoo tax definitions by name, type and scope.
Performance

A profit and loss you can open on any Tuesday

Income, cost of sales and expense read off posted entries as they stand, each figure openable down to the document that produced it.

An Odoo profit and loss report.
Position

What is owned and owed, as of this morning

Assets, liabilities and equity from the same entries the profit and loss reads, so the two agree because they are one set of books rather than two exports.

An Odoo balance sheet.
In scope

Six areas, one ledger

The parts of finance this work configures, and what each one is responsible for once it is running.

Localized core

Chart of accounts, taxes, fiscal positions and the country-specific reporting the entity is obliged to file.

Bank and cash

Statement import, matching and reconciliation, so the balance in the books is the balance at the bank.

Analytic control

Cost centres, analytic dimensions and budgets, so a figure can be asked which part of the business produced it.

AR / AP

Customer invoices, credit notes, vendor bills, payments and follow-up that goes out without being remembered.

Real-time reporting

Profit and loss, balance sheet, ledgers and aging, read off posted entries rather than assembled at month end.

Stock / finance link

Inventory valuation, landed costs and cost of goods tied to the movement that caused them.

Order to cash

Seven steps, one record

A customer becomes money in the bank through these stages. Each one adds to the record the last one made, which is why the invoice at step five does not need retyping.

  1. 01 Lead An interest, with a name against it.
  2. 02 Quote Priced from the catalogue and price list.
  3. 03 Sale Confirmed, and now an obligation.
  4. 04 Delivery Stock moves, and the cost with it.
  5. 05 Invoice Raised from what was actually shipped.
  6. 06 Payment Matched to the invoice it settles.
  7. 07 Reporting The whole run, readable end to end.
One document

The invoice is the sale, not a copy of it

ERP and business operations

It carries the lines the order carried, the taxes the fiscal position decided and the credits the customer already has. Nothing on it was entered a second time, which is why nothing on it can disagree with the order it came from.

An Odoo customer invoice with its lines, taxes and totals.
The chart

Every account the business will ever post to

Codes, names and types, set from the localisation package for the country and then shaped to how this business actually reports. It is the first decision and the one everything else inherits.

An Odoo chart of accounts with codes, names and types.
The record

Every posting, with the document that caused it

Sales, purchases, bank, cash and point of sale each keep their own journal, numbered in sequence, carrying the reference back to the order or the session behind it.

An Odoo journal entry list by date, journal and status.
Proof

Opening, movement and close, one line per account

The check that the books balance, per account and per period, and the report an auditor asks for before asking for anything else.

An Odoo trial balance with initial, period and end balances.
Filing

The return, assembled from the invoices themselves

Net and tax per rate for the period, built out of the documents that were posted rather than a spreadsheet someone maintained alongside them.

An Odoo tax return showing net and tax by rate.
Cash

What actually moved, not what was earned

Operating, investing and financing, opening balance to closing balance — the report that answers whether the profit on the other page is in the bank yet.

An Odoo cash flow statement.
What we owe

The other side of the ledger, banded the same way

Payables by age and by vendor, so terms are used deliberately rather than discovered when somebody calls.

An Odoo aged payable report banded by age.

Screenshots show the Odoo interface, captured from Odoo's public demo database or published by Odoo S.A. at odoo.com — not Rkieh Productions client systems. Odoo is a trademark of Odoo S.A. Rkieh Productions is an Odoo partner and implements and configures Odoo for its clients; what any given system does depends on edition, enabled modules, hardware and the agreed solution design.

Audit trail

Every figure opens onto the entry beneath it

Warehouse management

A number on the profit and loss opens to the account, the account opens to the entries, and an entry opens to the invoice, bill or session that produced it. Nothing on a report is a figure somebody typed — which is what makes it answerable when a board or an auditor asks where it came from.

An Odoo general ledger by account with debit, credit and balance.
Procure to pay

The same run, in reverse

Buying is the mirror of selling, and it books the same way. The cost that lands on the ledger is the cost of the goods that actually arrived.

  1. 01 Need A shortage, or a request.
  2. 02 RFQ Asked of the vendors that can supply it.
  3. 03 Purchase Ordered, at an agreed price.
  4. 04 Receipt What arrived, counted on arrival.
  5. 05 Vendor bill Checked against both of the above.
  6. 06 Payment Released once the three agree.
  7. 07 Cost / stock Valuation moves with the goods.
Getting paid

Who owes what, and for how long

Sales and CRM

Receivables banded by age, per customer, off the same invoices the sales desk raised. It is the difference between knowing the total outstanding and knowing which conversation to have first.

An Odoo aged receivable report banded by age.
Month end

What closing a period looks like

The close stops being a reconstruction and becomes a checklist, because the entries were already made by the work that caused them.

Reconcile the banks

Every statement line matched to what it settled, so the books and the bank end the period on the same figure.

Post and lock

Entries posted and the period locked, so a closed month stays closed and cannot be edited quietly afterwards.

Run the return

The tax return built from the period's own documents, reviewed against the accounts it draws on.

Book the adjustments

Accruals, deferrals, depreciation and any correction, entered as journal entries that say why they exist.

Publish the reports

Profit and loss, balance sheet and cash flow issued from the same posted entries, so the three agree.

Keep the trail

Every published figure still openable down to its document, months later, without a reconstruction.

Depends on the setup

Where the answer is it depends

Available scope depends on the selected Odoo edition, enabled modules, hardware and final workflow design. Rkieh configures, integrates and customizes the solution around the client's actual operating model.

The localisation package

Which chart of accounts, tax rules and statutory reports you start from is decided by the country of the entity.

Electronic invoicing

Whether invoices must be exchanged in a mandated format, and through which network, is a jurisdiction question.

Edition and modules

Some reporting and automation sits in specific editions and modules; what is available follows what is licensed.

Multi-company

Several entities, inter-company postings and consolidation are a design decision before they are a setting.

Currencies

Which currencies are held, how rates arrive and where the difference is booked are all configured, not assumed.

Who may do what

Approval routes, posting rights and lock-date control follow the roles the organisation actually has.

How we implement it

Seven steps, on our side

Finance is the module where a bad migration is discovered late and costs most, so the opening balances and the parallel run are not optional stages we shorten when a date gets close.

  1. 01 Discover How this business actually books.
  2. 02 Design The chart, the journals, the roles.
  3. 03 Configure Taxes, fiscal positions, approvals.
  4. 04 Migrate Opening balances and open items.
  5. 05 Reconcile Tied back to the old system, line by line.
  6. 06 Parallel run One period booked in both.
  7. 07 Handover Training, and a close done together.
What changes

Four things finance stops doing

Finance can move from retrospective bookkeeping toward timely operational control because sales, purchasing, inventory and approvals are connected to the same source transactions.

Retyping the sale

The invoice is raised from the order, not from a copy.

Reconciling by hand

The statement proposes its own matches to confirm.

Waiting for month end

The reports read posted entries as they stand.

Paying unchecked bills

Order, receipt and bill have to agree before release.