A Robust Tool For Managing Accounts and Finance Operations - Odoo Community Mobile

Odoo Accounting Software

Odoo ERP is a complete business management software that is capable of covering all business functions from sales, invoicing, purchases, customer relationship management, inventory, project, and so on.  This software solution is available on-premise, on the cloud as well as one can get the mobile apps of every Odoo module. 

Similarly, when it comes to managing accounting operations, businesses often face a lot of challenges such as keeping a tab on cost and income, managing budgets, tracking expenses, and so on. As we know the revenue of a business directly depends on the cost and earning difference, i.e., the cost should be lower than the earning. To ensure the business is spending less and making more, the Odoo accounting app helps businesses track and control their expenses or costs.

As we know that Odoo has been serving a wide array of business sectors for a very long time, it's been more than a decade. It has helped companies control their costs, and increase their revenue by tracking business performance regularly. All things considered, Odoo ERP implementation is a proven solution for improving operational efficiency and overall business productivity. One can clearly see that Odoo has made business operations management and tracking a lot simpler than ever. Also, this open-source ERP is one of the easiest-to-use enterprise management software.

Fulfill Every Account and Finance Needs

Odoo accounting app is one of the most effective and powerful tools that is designed to enhance business productivity. This app automates the accounting tasks and lets you track the enterprise's cash flow. We all know that every business have its accounting needs and they need to handle their customer, vendor, expense, and other accounts effectively. If companies manage their accounting operations using old or manual methods, then it is a high probability to have inaccurate accounting data and reports. This is the reason, most businesses start using robust solutions like accounting management Odoo apps.

Moreover, if someone is using outdated and complicated accounting software, it also affects the company's financial operations adversely. On the contrary, the Odoo accounting app is a fully-fledged solution for all your account requirements including customer invoice management, vendor bill management, tracking expenses or costs, managing budgets, and more.

Furthermore, the major benefit of using Odoo is that it automatically connects multiple apps to facilitate smooth inter-departmental communication. In other words, the Odoo accounting app is integrated with purchase, sales, point of sales, inventory, payroll, and eCommerce apps. All things considered, you can now easily manage all accounting tasks such as invoice creation, vendor bill management, journal entry, bank reconciliation, report generation, budget management, and so on. Moreover, functionality like validating multiple invoices at once, multi-currency support, multi-company support, etc. makes Odoo more useful for enterprises. Also, this open source solution is not only for a specific industry or a specific size of business, one can use Odoo regardless of the size of the business and type of industry.

Prominent Features Of Odoo Accounting App

Clean and Intuitive Dashboard

Once you implement Odoo accounting software, it will let you have a dynamic dashboard so that you will get a complete overview of every accounting operation at a glance. In other words, get a complete informative summary of your bank, cash, stock journal, customer invoices, vendor bills, inventory valuation, and so on. From the accounting dashboard, you can directly jump into the respective operations and now you do have to search & navigate through multiple tabs. The ease of use is the USP of Odoo ERP software. Moreover, you can filter the dashboard as per your requirements such as you applying the sales filter, purchase filter, and more to see any specific operations.

Easily Manage Invoices and Bills

This open-source accounting solution has features to create, track, and manage vendor bills and customer invoices in the most effective manner. Effectively control supplier bills and customer invoices to get a clear forecast of future payments to receive and bills to pay. All things considered, one can manage their account's payables and receivables effectively. Also, this app facilitates on-time invoice payment. This means getting paid faster than ever by enabling auto follow-ups for payments. Besides, it has features to create and handle credit notes and refunds to give and receive refunds effectively.

Bank Synchronization

It is one of the most essential and effective features for every company as it enables automatic bank synchronization. This accounting feature of Odoo enables companies to synchronize with their banks and easily import all bank statements immediately into your Odoo database. Odoo can already be synchronized with more than 24,000 thousand banks across the globe. Also, if your bank is not on the list, the expert Odoo team can customize the system and let you connect your business with your bank.

Automated Reconciliation

Another smart feature of accounting management odoo apps is the automatic reconciliation of your invoices with your banks. This feature seamlessly automates the reconciliation process and helps you get all your bank statements imported into your system's database. This enables businesses to reconcile all the accounting records properly and ensures that all Journal entries are balanced.

Dynamic Financial Reporting

Get in-depth financial statements and reports of all accounting operations. In other words, you will get a comprehensive overview of every account and finance operation of your company. View and analyze financial reports like general ledger, profit & loss, balance sheet, trial balance, tax reports, age payable & receivable, cash flow, and many more. Easily generate and filter out your reports as per your business needs. This accounting app makes the analysis and comparison of data simpler than ever.

Powerful Localization Tools

One of the best and most useful Odoo accounting tools is the localization tool. It enables companies to define the taxes in accordance with the regions. This will help companies to work across the globe without facing any accounting regulations restrictions. Moreover, enterprises can create fiscal years and positions as per locations to track financial operations efficiently.

running Odoo's localization tools is one of the most intelligent tools, it helps in defining the taxes according to the regions. Get country-specific statements that will further help you handle your business operations globally.

Integration with Other Apps

No, you do not have to record your transactions manually, it will be done automatically with the help of the integration of the accounting app with other apps like expenses, sales, payroll, point of sale, and inventory. You can effortlessly track all the expenses and re-invoice them quickly in batches. Also, synchronization of every transaction of your inventory helps you keep your inventory valuation status up to date. Integration with the POS app will allow automatic transaction recording in the accounting app.