How To Set Up Odoo CE Accounting Module

Ever since Odoo 11 Community Edition (CE) has removed the Accounting module, there is hardly a place to find the information on how to have at least a working and acceptable Accounting module.

In view of the importance of Accounting feature being the brain of an ERP system, i'm concern that Odoo CE may be slowly dying off because of a sub-par Accounting features, and therefore decided to write a series of the blogs to share my experience on how to have an Accounting system that is on par with any other Accounting software in the market.

• Read this blog on how to configure Profit & Loss and Balance Sheet Reports in the Odoo CE.

• Read this blog on how to have a world class Accounting module for Odoo CE.

• Read this blog on how to use Analytic Account and Analytic tags to keep track of business expenses, cost and profits, by project, cost center or department.

The following are the Free version of Accounting Modules available for Odoo CE V12. With these modules, you may have a working Accounting module from invoicing, payment to bank reconciliation, and financial reports.

Having said that, most of these Free Modules need some level of customization for localization and rather far away from a world class Accounting system, if you do not purchase other paid Accounting modules in the Odoo App Store.

• account_standard_report - reports for GL, Partner Ledger, Balance Sheet, P&L, etc.

• accounting_pdf_reports - pdf reports for GL, Partner Ledgers, Balance Sheet, P&L, etc.

• account_fiscal_year - configure for accounting fiscal year

• om_account_accountant - enable standard accounting module

• om_account_asset - asset management for depreciation.

• om_account_budget - budget management

• account_lock_to_date - lock the accounting period for financial closing.

• account_payment_netting - contra payment for both customer & vendors

• account_debitnote - enable debit note for the invoice and vendor bill.

• account_financial_report - advanced accounting reports.

• account_banking_reconciliation - bank account reconciliation with the bank statement.

• account_invoice_fixed_discount - enable fixed discount (amount) in the invoice.

• account_voucher - this is the standard Odoo module for sales receipt and purchase receipt for cash payment and non-trading related payment.

I hope this will help anyone who is new to the Odoo Accounting Module for Community Edition. On the other hand, some of the modules are available only up to the V12.

Accounting module for Odoo CE.

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