In recent years, Odoo has worked with accounting specialists to provide users with the best possible accounting modules. Comprising the features enabled by Odoo accounting, minimal data entry time, simple setup and configuration, numerous third-party payment integrations, automated tracking methods, complete customer billing, instant cash flow billing and efficient tax management combined with coherent reporting, asset accounting and spreadsheets were inevitable.
Accounting in Odoo is sufficient for any organization to meet its accounting needs. The Odoo platform’s accounting module provides descriptive and analytical reporting capabilities.
In this blog, We will discuss in detail the reporting aspects of Odoo 14 accounting. The reporting function of Odoo is used in the Accounting module more than any other module.
Odoo 14 allows users to create a variety of financial reports. It provides options for dealing with customers and vendors, advanced analysis and reporting capabilities make the latest version of the Odoo accounting module very user-friendly.
The most important financial reports of Odoo 14 are as follows,
- Balance Sheet
- Chart of Account
- Aged Payable
- Profit and Loss
- General Ledger
- Executive Summary
- Aged Receivable
- Cash Flow Statement
- Tax Report
- Bank Reconciliation
The Odoo 14 accounting module can be seen as a practical tool for managing the assets and liabilities of the company. Features such as direct bank coordination, the ability to create and manage real-time reports, ledgers, charts, accounts, payments, multiple currencies, the implementation of payment terminology and much more, make the provided module for accounting of the company’s financial operations a reliable tool for them.
Advantages of Odoo 14 Accounting Reports :
- The big advantage is that if your business operates in many different currencies you have a simple reporting system with up-to-date real-time data to inform you about your gains and losses and adjustments you have made. One of the most useful currency-related updates is the new report on unrealized gains / losses, which has the power of a real time balance sheet.
- Using tables and reports, users can create complex reports with current data.
- Various audit reports such as General Ledger, Trial Balance, Consolidated Journal, Tax Report and Journal of Audits can be created.
- Users can report any inadmissible expenses. Users can specify expenses that are not deductible in the tax result, but are deductible in the accounting result.
- You can select the Pivot view to create your report with filters.