What is in Odoo 14 Accounting?
Accounting software built by accounting experts. Odoo 14 is launched on 30th September 2020 with great feature and functionalities. Odoo 14 Accounting has many exciting features combining with inbuilt Robotic Process Automation (RPA) and Document Management System. Here are some of the new features of Odoo 14 Accounting
1. List view with Bills due date with colour indicators and next activity (Call, Mail, etc.)
2. AI and Documentation Management
a. On scanning vendor bills, the system automatically captures Supplier, Date, Currency, Total and Subtotal, Invoice reference, Tax and Bank Account
b. Multiple Invoice in single PDF can be split into individual invoice
c. General documents can be sent it to workspace wise by single click
d. AI for Expenses - Nature of expenses will be captured automatically like Food bill, Taxi Bill, etc.
a. Odoo Spreadsheets - Create your own formula and save the report generated from Odoo.
b. Budget template - Monthly and quarterly budgets can be created in no time
a. Unrealised currency gains/losses Report
b. Enter the conversion rate applicable in last date of the Month/year and all the payables and receivables changes according to the current rate entered.
c. If you would like post, just create entry and select the income and expenses account that you need to post and validate.
d. You can give the reversal date as well, which odoo reverse the journal automatically
a. Disallowed expenses category and report - You can specify % of expenses allowed as per the Tax authorities against each expense.
6. Payment refactoring
a. Bank transactions in Real-time. All the bank transactions are synchronised and posted in Bank suspense account.
b. On reconciliation, the same will posted in Bank account
c. Payment configuration can be made as outstanding receipts and payments which can be used for Bank Reconciliation.
d. Bank Reconciliation has two buttons. One for Customer/Vendor matching the other one for Manual operations (Used for Bank charges or Internal transfer)
7. Implementing Legacy accounting
a. If new accounting date started, all the previous invoices status moved to “Invoice App Legacy”
b. Set the date in “Invoicing Switch Threshold” – All the previous transactions are archived and you can import new opening balance and start fresh accounting.
c. Update the sequence Number or Re-sequence made easy
8. New auditor Role and Preview of Journal Entries