Odoo ERP Offers the Following Accounting Features to its Users:
Management of Invoices:
Odoo ERP allows the generation of invoices for sales, making printing or sending invoices to customers easier.
Customer and Vendor Management:
Management of Customer and Vendor profiles becomes easier with Odoo. Their details get updated easily across third-party software directly from Odoo.
Easy Recording of Documents:
Odoo records documents like invoices from vendors, contracts, and proof of payments for future use in generating reports.
Management of Recurring and Batch Payments:
For regular merchants of a business, Odoo can set recurring payments at specified intervals and pay them timely. Multiple invoices from the same vendor can be grouped in a batch and settled together.
Odoo has a scheduler feature that can set bills for settlement in the future. This feature can help avoid delays in bill settlements.
Integration with Bank Accounts:
You can link your Odoo account with your bank account and reflect transactions directly into it.
Automation of Actions to Perform in Case of Payment Issues:
Odoo can manage follow-ups on late payments and send payment reminders.
Generate Reports for Accounting, Sales, and Taxes:
Businesses need to reconcile their data from time to time. Odoo helps enterprises in the analysis of data by generating various reports. These reports can easily be fetched to other Odoo apps for data warehousing.