check f-up terms

_______________________________ 

-put the f-up steps

- put negative number (-) if want to 
f-up before the overdue date.

can generate a manual action like calling the customer

_______________________________ 

-call the client activity is now displayed in the customer f-up

-classify the customer as normal, good or bad debtor

Create  a batch PMT

_______________________________ 

-select batch type: Inbound

-select bank and batch PMT method

-select the related PMTs to process and save

Print the PDF of the batch PMT

_______________________________ 

-copy the total

-create a BNK statement from the dashboard

-put the amount of the transaction and balance / save

-reconcile selecting the batch PMT

Create the INV with the discount PMT terms

_______________________________ 

-register the PMT and have the discount

-INV will be on PMT

can see the reconciliation option in the Bank Journal

_______________________________ 

-the reconciliation is done automatically, same info in the INV

can set other PMT methods

_______________________________ 

-if wanted, can set other ACCs incoming and outgoing PMTs

-select three dots for displaying the outstanding PMT ACCs.

to synchronize add the bank you want

_______________________________ 

-select type of account in the bank's interface

-confirm the consent

go to Config. / Online Sync.

_______________________________ 

-must have active credentials

-can also create the records

when creating a record put date, label and amount

_______________________________ 

-after entering info will be ready to reconcile

-if select BNK Sync in the BNK journal settings import file option will not display but only Sync

-an import will be available from the toggle menu

Check the items to reconcile

_______________________________ 

-see in left items to reconcile

-at the right is the counterpart

-the label makes easier to identify the corresponding INV

click on the INV link if want to check details

_______________________________ 

-if OK press validate

click on interests for bank loans

_______________________________ 

-can match existing entries or click in manual operations

if there is a PMT without correlation, it will be posted in the suspense account

_______________________________ 

-can search the related value

-may check the transaction later

-you can decide to tolerate a MIN difference in the INV PMT

change to list view to group by

_______________________________ 

-can search for the related partner in the filter

-there are reconciliation models to be considered:
match invoices, suggest counterpart or generate that counterpart

Group and filter taces

_______________________________ 

-activate or deactivate taxes

-set the distribution of INV and credit notes

tax grids generated in journal items

_______________________________ 

-now taken the tax transit account

- the purpose of the cash basis transition account is to temporarily hold the tax balance between the invoice confirmation and payment

-tax grids generated when tax is not cash basis

-for cash basis taxes grids do not display

When paid, INV gets in PMT 

_______________________________ 

-cash basis button generates

- in journal entry 

-transition ACC gets in debit vs VAT credit

Apply the tax to convert from left to right

_______________________________ 

-can apply to an individual or a group of countries

-states inside a country can also be selected

create a miscellaneous journal for taxes

_______________________________ 

-set as the tax closing default journal

-configure tax accounts

-there is a default tax receivable and payable

report can be presented in excel pdf or XML

_______________________________ 

-once complete the report click on closing entry

-report generated with all payable and receivable

new entries could be set with a warning for the next open period

_______________________________ 

-Tax Return Periodicity  under “Settings” configures Odoo to compute my tax return correctly

-the selectable fiscal periods in “Tax Report” lets me create a tax report for the selected period.

Product = (Price + Extra tax) X Sales tax

_______________________________ 

-set fix price

-in advance options change the sequence. If higher sequence, the tax will be applied before others.

-select to affect base of subsequent taxes

drag and drop taxes according to their priority

_______________________________ 

-add tax in the product

-taxes will be applied

Activate Avatax and put credentials

_______________________________ 

-go besides to a customer and validate it

in ACC / product category set Avatax category

_______________________________ 

-Set fiscal position and its ACCs in Avatax tab 
-for v16 click Avatax API checkmark

-in a SO the fiscal position will display in the other info tab

can compute the taxes using Avatax

_______________________________ 

-it triggers in the user portal or sending the RFQ via email

-other lines can be added (i.e. a discount negative) in the INV

-again click on compute taxes using Avatax

-AvaTax does NOT automatically calculate the tax when you validate a delivery order.  AvaTax calculates the tax in this cases:

• when a quotation is confirmed into a sales order.
• when you validate a draft invoice.
• when a customer views their subscription in the customer portal.
  

Go to Config. / Asset Models

_______________________________ 

-set duration and method (i.e. Straight Line)

-set the ACCs.

-go to Fixed asset ACC to set it

in Automation tab select the Create and validate option

_______________________________ 

-manage items check can be activated to generate two assets if 2 items are crated in a vendor bill

-in the product line must be set the respective fixed asset ACC

-the asset gets generate by confirming the vendor bill

click on the asset smart button and enter the asset

_______________________________ 

-see all related info included the related purchase

-a fractionary of every month is displayed as (3/36) in the case of a 36 months DEPR.

-in the journal entries button are the related entries 

-each entry debit / credit can be displayed

Select journal items in a vendor bill

_______________________________ 

-select cut off option

-select the recognition date (i.e. 3 months ago) and say 50% of the total amount to split the expense in two equal parts.

-create the journal entries  

Activate Analytic ACC

_______________________________ 

-select analytic plan in the configuration

-set domain (i.e. vendor bills)

-set if optional or mandatory

can choose financial ACC and product category

_______________________________ 

-select Analytic account button

-create the Analytic ACCs / those will display in the smart button

-can select the color

-Plans for Analytic ACC could be: 
-regional or company departments among others

Activate Budget management in settings

_______________________________ 

-go to budgets in ACC

-create budget and edit

-will have analytic ACC ad budgetary position

Budgetary position is a set of ACCs

_______________________________ 

-the combination of analytic ACC and bud. pos. builds the budget

-There are displayed three amounts
-planned (forecast), Practical (real) and Theoretical (up to date)

-The achievement is given in percentage

-expenses must be written in negative number

-enter in the analytic ACC to see the details clicking on the green tiny smart button at the right

-for income there could be bug. pos. but  no Analytic ACC. In that case when click there will be displayed only journal items.

In the ACC. menu / budget analysis you will view the budgets grouped by year. 

-This can be displayed in pivot table. If click in a number details will be shown.

Activate Intercompany Transactions

_______________________________ 

-activate sales and purchase for inventory movements

-create dedicate purchase and sales journal

-Type sales or purchase accordingly,  ACC and short code

-Can dedicate other income or expense ACC

-push journals up to see them at the top of the dashboard

create INV

_______________________________ 

-when switching company there will be one bill to validate in the other side

Products set with product category

_______________________________ 

-in a PO and SO Standard price, FIFO and AVCO behave different

if all products bought at $10 all have same cost

1. Standard price (10)
2. FIFO (10)
3. AVCO (10)

_______________________________ 

-when all are bought at 20
1. Standard price is now 20 (10+10)
2. FIFO is now 30 (10+20)
3. AVCO is now 30 (15+15)

-when one product is sold
1. Standard price is now 10 (0+10)
2. FIFO is now 20 (0+20)
3. AVCO is now 15 (0+15)

CONTINENTAL ACC: 

costs of goods sold are immediately registered in profit and loss

Reference: Odoo YouTube Channel

_______________________________ 

-up to the accountant to move it on the balance sheet as long as it is not sold

- when product sold impacts the P&L
-product from PO received and journal entry gets posted
-when bill is created,  then entries get posted
- when product is delivered entry gets posted in the valuation as a 3rd instance
-4th INV entry gets posted when INV validated

in CONTINENTAL not necessary to put automatic accounting entries: all info already in the INVENTORY app

Journal entries created with the continental method when receiving and delivering products, creating a bill from a P.O., or confirming an invoice.

Realized Gains/Losses: 

choose the service to update currency

Reference: Odoo YouTube Channel

_______________________________ 

-choose the currency in the Vendor bill

the PMT will occur days after the bill date

_______________________________ 

-two info on PMT appear

-one of them shows the regular bill entries, the other the exchange difference

-see reconciled entries in reconciled entries button

Unrealized Gains/Losses: 

Reference: Odoo YouTube Channel

_______________________________ 

-unrealized concerns open items in the balance sheet s.a. INVs & BLLs not paid yet or BNK ACC in a foreign CURR. As CURR vary all those open AMNTs in books need to be revalued again at the end of the fiscal year / subperiod.  Depends on company's size and preferences

select the report in Reporting Menu

_______________________________ 

-see ACCs columns to adjust; balance in foreign CURR; operation rate, current rate and the adjustment. 

-can filter by date range or XCH rates
-XCH rates in the filter can be updated manually

The final step for closing the fiscal year is to allocate the unallocated current year earnings so they are reported as zero in the current one balance sheet but adding the value in the next year.

_______________________________ 

-in ACC settings can change if fiscal year is closed in December 31st or other date, and even customize if the fiscal period is i.e. 6 months.

-lock dates can be set for some users or for everyone.

-can lock the tax return date

-Only Chef accountant with ACC admin rights can close the fiscal year

in the balance sheet there are current year not allocated earnings

_______________________________ 

-click there to dive in the details of the P&L