The operations related to the financial management of the company can be tricky, but with proper recording and a systematic way of managing the burden can be lessened. Odoo 15 provides a reliable and efficient accounting management system.
Odoo V15 Accounting Module is a complete package that helps you to manage all the accounting-related activities. The major aspect of the Accounting module is its reliability and real-time operations. From managing the customers, creating invoices, and sending them, the Odoo Accounting module helps you to efficiently manage the customers.
Create an Invoice : To start you can build an invoice design that is unique to your company’s theme and nature. Odoo makes it simple to access invoices. There are a variety of formats and designs available, and you can quickly personalize your invoices using Odoo’s extensive invoice design and customization options.
To design and create a completely customized invoice that is unique to your organization, for this go to the Accounting module’s Invoicing tab under the Accounting module’s Dashboard and configure the Company data to include in the invoice. Following the setups, you may proceed to the Designing a New Invoice phase, as shown in the screenshot below.
Odoo makes creating invoice layouts simple. It is an important aspect of invoice management since the layout frequently indicates a corporation or a business and its professionalism in invoice management.
With the invoice layout choices provided In the screenshot below, Odoo will allow you to create professional-level invoices with an easy going manner.
This is the area where you can customize the invoice’s layout according to your business needs. On the setup page, there are a number of advanced pre-installed features. To begin with, you have a variety of alternatives for laying out the plan. Light, Boxed, Bold, and Striped are some of the alternatives.
With this tool, you can design the appearance of your documents by selecting which layout template, paper format, colors, font, and logo you want to use.
From the right side of the screen, as seen below, you can observe the Invoice alter in real time.
To construct the right invoice layout according to your firm, choose between the layouts and keep an eye on the real-time changes.
Font : When you decide on a layout style, now you need to decide on a font for the invoice to be printed in. To create your invoice layout, you have a variety of fonts to pick from the font section. You can choose from the drop down list of the font according to your choice.
Company Logo : After you’ve chosen a font, head to the company area and pick and upload your firm’s logo, which will appear on the invoice. When you click on the camera icon it will take you to the downloaded images from your system and you can select the logo from there.
Colors : Choose a color from the color area, and that color will be the color that the content is shown in. The invoice number, as well as other information, will be displayed in the color of your choice. You have hundreds of color selections to choose from, as you can see in the screenshot below.
You can choose the color from the color section.
Layout Background : Choose the layout background from the drop-down options. To change the background of your invoice’s layout, click the layout background button as you can see in the screenshot below.
Company Tagline : Enter the Company tagline after selecting the layout background. Your company’s slogan will appear on the invoice as a result of this. For reference you can see in the screenshot below.
Company Details : Now you have to fill the company information in the company details option.
Footer : After that, you can add a footer to the invoice, which will be presented as a footer.
Paper Format : You can choose paper format from this section of the invoice layout. You can choose the paper format from the drop down menu of this. For reference you can see in the screenshot below.
When you finish the configuration of the invoice you can click the Download PDF preview button to get a preview of it. Because the invoice is generated automatically by Odoo, you should double-check the information you submitted in the settings section.
Invoices : Invoices are sent to the customer. You can find the invoices under the Accounting module of the customer tab. You can select the invoice from the down down menu of the customer tab. When you click on the invoice, a list of the invoices page will be displayed.
The list of the invoices along with their details such as Number, name of the Customer, Invoice Date, Due Date, Tax Number, Next Activity scheduled, Tax Excluded amount, Total amount, Total in Currency, Payment Status, and Invoice Status. The total of the Tax Excluded amount and Total amount is displayed at the bottom. Using different Filters such as My Invoices, Draft, Posted, Cancelled, To Check, SDD Mandate, Unpaid, Paid, Overdue, Invoice Date, and Due Date you can display particular invoices. You can also display invoices based on different groups such as Salesperson, Status, Sales Team. Electronic Invoicing State, Preferred Payment Method, Invoice Date, and Due Date. You can upload invoices straight from the system by clicking on the UPLOAD button.
You may utilize the Filters and Grouping options to give yourself the most flexibility in reading invoices while also reducing clutter.
If you want to create a new invoice, you can click on the “Create button”, and a new window will appear. For reference you can see the screenshot below.
Customer : Insert the name of the customer to whom the invoice will be sent at this provided field.
If you want to search more customers then you can click on the search more option and the list of the customer will open, for reference you can see the screenshot below.
You can select from the list, and if the client is new, click the CREATE button to begin the process of creating the customer. You can add the Invoicing Date after you’ve added the customer, as seen below.
Delivery Address : Here you can enter the delivery address for the current invoice.
Payment Reference : You can enter the payment reference to set on the journal items.
Invoice Date : Insert the invoice date in this provided field. Here you can choose the billing date. Invoice management is heavily influenced by the invoicing date. Based on the invoice dates, Odoo estimates invoice-to-customer interactions.
Due Date : Enter the due date when the invoice must be paid or the Terms at which the invoice must be paid. You can also ask for immediate payment, by selecting the option from Terms. Due Dates allows you to efficiently collect revenues on time, and you can use Odoo’s powerful follow-up features to automatically follow up on your customers on invoice dues.
Journal : At the space provided, enter the journal entry label under which the invoice will be added. Along with the journal enter the currency that is being used for the transaction.
Invoice Lines : At the Invoice Lines menu enter the details of the products such as the name of the Product, Label, Account, Analytic Account, Intrastat, Quantity of the product, Unit of Measure, Price of the product, Tax imposed on the product, Product Country and Subtotal amount. You can add multiple products by clicking on the Add a Line option. The total Untaxed Amount, Tax amount, and Total amount including the tax is displayed at the bottom. The Terms and Conditions of the company can be added at the space provided. For reference you can see the screenshot below.
Journal Items : At the Journal Items menu, you can add details regarding the journal entry of the invoice. These details include the name of the Account, Label, Debit amount, Credit amount, and Tax Grids. The fields will be automatically filled according to the product details added to the Invoice Lines menu. You can configure and alter the entry simply by clicking on them. To add a new entry, click on the Add a Line option. You can view the total debit and credit amount at the bottom.
Other Info : At the Other Info menu, you can include other details of the Invoice and Accounting. This information includes Customer Reference, name of the Sales Person, name of the Sales team, bank account number to which the invoice will be paid at Recipient Bank field, Referrer, name of the Company, Incoterm in case of international transaction, Fiscal Position, name of the arrival country at the Intrastat Country field, whether the entry should be automatically posted at its the date and whether the details should be rechecked.
After filling all the details you can click on the confirm button. And now you can move to the next stage of the invoicing process, for reference you can see the screenshot below.
After confirming the invoice you can click on the “Register Payment” button. When you click on the Register payment, a new window will open. For reference you can see the screenshot below.
Now you can click on the “Create Payment” button.
To ensure that you receive payments on time, Odoo allows you to add payment terms with your invoices. Odoo makes it simple to set up payment arrangements.
This is how you can manage Invoices in Odoo V15 Accounting Module. If you like to read more blogs written by us click on the Planet-Odoo