Odoo 17 Accounting Reports
Accounting reports are essential for providing insights into a business's financial performance, stability, and decision-making. Key reports include the Income Statement (Profit and Loss Statement), Balance Sheet, Cash Flow Statement, Budget vs. Actual Reports, Aging of Accounts Receivable/Payable, Financial Ratios Analysis, Audit Reports, Management Reports (Custom Reports), and Tax Reports.
* Income Statement: For the purpose of making well-informed decisions, the income statement summarizes revenues, costs, and losses.
*?Balance Sheet: A balance sheet gives a quick overview of the financial situation of a business.
*?Cash Flow Statement: The inflow of funds and the withdrawals of cash are shown in the cash flow statement.
*?Budget vs. Actual Reports: Evaluate financial planning effectiveness.
*?Aging Reports: Categorizes receivables and payables based on transaction time.
*?Financial Ratios Analysis: Provides a deeper understanding of financial performance.
*?External Audit Reports: Improve the dependability and trustworthiness of financial data via external audit reports.
*?Customized Management Reports: Aids internal decision-making.
*?Tax Reports: Ensures compliance with tax regulations.
This Article will provide an exclusive overview of various reporting options available in the ‘Reporting’ menu of the Odoo 17 Accounting Module.
Balance Sheet Reporting
The Balance Sheet report provides a single point of view for an organization's asset, liability, and equity details. Users can create customized reports using additional features from Odoo. The balance sheet can be accessed by selecting a specific date from the calendar icon on the screen. To generate a Balance Sheet report in Odoo, navigate to the Accounting module. Access the Reporting Menu, typically labeled "Reports," and select the "Balance Sheet" option.
Profit and Loss Reporting
An organization's revenue, costs, profit, and loss during a certain time period are summarised in income statements, which are essential financial reports. Unlike the balance sheet, the closing balance of the selected period is not carried over to the following accounting period in the ‘Profit and Loss’ reporting platform
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Cash-Flow Statement
Categorized into operations, investment, and financial activities, the Cash Flow Statement offers a thorough financial summary of cash inflows and outflows. It is a crucial part of Odoo's financial management system, enabling companies to track and examine cash flow inside the company. Proper cash flow reporting helps businesses make informed decisions about liquidity, budgeting, and financial planning, ensuring a smooth financial landscape.
Executive Summary
An Executive Summary platform, available through the Reports menu, compiles balance sheet, profitability, and cash flow reports for a certain time frame.
Furthermore, indicators like Return on Investment, Net Profit Margin, and Gross Profit Margin are explained on the Performance page. In the Position tab, users can analyze the Average Debtor's Day, Average Creditor's Days, Short-Term Cash Forecast, and the ratio of Current Assets to Liabilities.
Tax Report
The Tax Reports platform, accessible through the Reports menu, can produce comprehensive reports on sales and purchase taxes. The return tax for the chosen period can be reported by using the ‘Closing Entry’ button, as shown in the screenshot below.
General Ledger
Every financial transaction made by your company over the course of a fiscal year is documented in the General Ledger reports, which show all transactions from every account in your system for a given period of time. Account names, Date, Communication, Partner, Currency, Debit, Credit, and Balance are all included.
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Trial Balance
A trial balance is an accounting report that displays the results of all entries posted through various journals, typically generated at the end of the financial year and is used for auditing operations. It offers credit and debit information from the journal entry's beginning balance, chosen month or year, and ending balance.
Journal Report
You may create accounting reports for different journals in your Accounting module using the Journal Reports platform. These reports provide information on the Name, Account, Label, Debit, and Credit of the related journal entries.
Partner Ledger
The reporting platform for Partner Ledger shows the journal entries for partners' accounts receivable and payable, together with their amounts, currencies, balances, matching numbers, references, and due dates. The Reconcile button on the report can be utilized by users to reconcile these accounts.
Aged Receivable
Within the Reporting menu, the ‘Aged Receivable’ platform facilitates the generation of reports detailing partner receivable balances as of a specified date. The screenshot below displays all of the information in the report, including the Due Date, Amount, Currency, Account, Expected Date, Receivable Amount at Date, Older, and Total.
Aged Payables
Delayed payment reports, which result from an organization's inability to pay bills by the deadline, are shown on the Aged Payable platform. If a company doesn’t meet the payment conditions, it will be included in the Odoo Accounting Aged Payable report.h
These reporting details can be altered into another perspective using the various filter options such as Date Range, Account, Partners, and other filter options placed at the top of the page. Then, it is also possible to download and print the PDF and Excel document formats of the reporting window using the relevant buttons.
Invoice Analysis
Viewing firm invoice reports for a particular accounting period is possible by selecting the Invoice Analysis option from the Management section of the Reports menu. A graphical or pivot table format may be used to construct the report, which includes measures like Average Price, Product Quantity, Total in Currency, Untaxed Total, and Count, as shown below.
Analytic Reporting
Odoo's accounting module offers an ‘Analytical Reporting’ window in its ‘Reporting’ menu, which uses analytical accounts to track and analyze financial transactions based on specific criteria like departments, projects, or business units. This allows businesses to gain insights into their operations' performance. Key features include creating and defining analytical accounts for various business dimensions, allocating costs to specific accounts, providing pre-built reports for analyzing financial data, and supporting budgeting and forecasting functionalities. These tools help businesses plan and monitor their financial performance against predefined targets, enhancing their overall financial performance.
Audit Trail
Accounting features such as audit trail reporting are essential for monitoring adjustments and actions pertaining to financial transactions, entries, and configurations. Maintaining accountability, transparency, and adherence to financial standards are contingent upon it.
To access the detailed dashboard or reporting of your company’s audit trials, you must activate the ‘Audit Trail’ option from the ‘Settings’ window of the ‘Configuration’ menu, as shown below.
These are the major reporting sections available in the Odoo 17 Accounting Module. Reports are crucial for real-time financial management within a company. This section outlines the reporting features provided by the Odoo Accounting module in relation to various financial operations.
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