Double-entry bookkeeping

• Odoo automates journal entry creation for all accounting transactions
• Follows the double-entry bookkeeping system for accuracy and consistency
• Ensures each transaction has corresponding debits and credits across different account

Accrual and cash basis

• Supports both accrual and cash basis accounting methods.
• Provides flexibility to report income and expenses based on transaction occurrence or payment receipt.
• Aligns accounting practices with operational needs and reporting requirements.

Multi-company and Multi-currency environment

• Manages several companies within a single database.
• Maintains separate charts of accounts for each company.
• Handles transactions in multiple currencies, automating exchange rate calculations and generating currency gains/losses.

Branch management

• Hierarchical multi-company structures facilitate branch management.
• Allows posting journal entries for each branch while maintaining centralized control.
• Streamlines administrative tasks like setting lock dates at the main company level.

International standards and Compliance

• Supports over 70 countries with central accounting standards.
• Accommodates country-specific requirements through dedicated modules.
• Ensures compliance with regional regulations, including taxes and chart of accounts.

Accounts receivable and payable

• Tracks customer and vendor balances through linked transactions.
• Offers comprehensive reports like the Partner Ledger for insights into receivables and payables.
• Empowers businesses to manage cash flow and credit control effectively.

Advanced Reporting and Bank Synchronization

• Provides advanced reporting functionalities, including tax reports.
• Automates bank transaction imports through bank synchronization.
• Offers real-time visibility into financial health, streamlining reconciliation processes.