{"id":259335,"date":"2020-07-17T06:04:41","date_gmt":"2020-07-17T06:04:41","guid":{"rendered":"https:\/\/webkul.com\/blog\/?p=259335"},"modified":"2020-08-27T03:37:15","modified_gmt":"2020-08-27T03:37:15","slug":"odoo-accounting-getting-started-with-its-basics","status":"publish","type":"post","link":"https:\/\/webkul.com\/blog\/odoo-accounting-getting-started-with-its-basics\/","title":{"rendered":"Odoo Accounting: Getting Started with its Basics"},"content":{"rendered":"\n<p>Odoo is an open source modular based framework. In the previous version of Odoo, it was also known as OpenErp(5 to 7 version) and TinyERP (1 to 4 version).&nbsp;<\/p>\n\n\n\n<p>Odoo framework includes multiple solutions like E-Commerce, ERP(<strong>Enterprise Resource Planning<\/strong>), CRM, <strong>Accounting<\/strong>, Inventory System, POS(Point of Sale), Manufacturing etc.<\/p>\n\n\n\n<p>To read the introduction of Odoo, you can visit the blog <a href=\"https:\/\/webkul.com\/blog\/introduction-to-odoo-features\/\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener\"><strong>here<\/strong><\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Key roles of Odoo Solutions<\/h3>\n\n\n\n<p>All of these solutions play very important roles in our current industry. When we talk about Sales, Accounting and Inventory systems then these solutions work as a root pillar for every industry.<\/p>\n\n\n\n<p>Currently in all over the world, multiple industries are running with the different areas of domains and these industries also manage their revenues which is very helpful for the GDP growth of their respective countries.<\/p>\n\n\n\n<p>Here accounting plays a very important role to monitor and manage the growth of the industries.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What is Accounting?<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"850\" height=\"260\" src=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/Accounts-without-odoo.png\" alt=\"Accounting\" class=\"wp-image-259538\" srcset=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/Accounts-without-odoo.png 850w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/Accounts-without-odoo-300x92.png 300w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/Accounts-without-odoo-250x76.png 250w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/Accounts-without-odoo-768x235.png 768w\" sizes=\"(max-width: 850px) 100vw, 850px\" loading=\"lazy\" \/><\/figure>\n\n\n\n<p>Accounting is a systematic process to calculate the transactions of the firm to measure the monetary terms and records into the different accounts. Basically, Accounting notified us the profit and loss of the business and also told us the value of assets &amp; liabilities.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>How Accounting Helps Businesses?<\/strong><\/h3>\n\n\n\n<p>A business is a set up of innovative ideas; apart from that, to maintain and know the highs and lows of a business, Accounting plays a great role. In some easy words, accounting helps you to track the income as well expenditure of your business which directly motivates to improvise the ways to lead your business.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>You can evaluate the performance of your business&nbsp;<\/li><li>It helps you to ensure that liabilities of your business are appropriately looked<\/li><li>You can create a budget and project plan for upcoming years<\/li><li>You can also file final statement of your business<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Workflow\/Properties of Odoo Accounting<\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"850\" height=\"260\" src=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/Properties-of-Odoo-Accounting.png\" alt=\"Workflow\/Properties of Odoo Accounting\" class=\"wp-image-259540\" srcset=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/Properties-of-Odoo-Accounting.png 850w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/Properties-of-Odoo-Accounting-300x92.png 300w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/Properties-of-Odoo-Accounting-250x76.png 250w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/Properties-of-Odoo-Accounting-768x235.png 768w\" sizes=\"(max-width: 850px) 100vw, 850px\" loading=\"lazy\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Know the terms Used in the Accounting Workflow<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Terms<\/strong><\/td><td><strong>Definition<\/strong><\/td><\/tr><tr><td><strong>Identification<\/strong><\/td><td>To identify the financial transactions like which transactions belong to business and which are not used for business.<\/td><\/tr><tr><td><strong>Measurement<\/strong><\/td><td>Monitoring value of the identified transactions<\/td><\/tr><tr><td><strong>Recording<\/strong><\/td><td>Record these monitored values to the journals<\/td><\/tr><tr><td><strong>Classification<\/strong><\/td><td>Classified the journals into different segments<\/td><\/tr><tr><td><strong>Summarization<\/strong><\/td><td>Prepare all transactions into a small summary.<\/td><\/tr><tr><td><strong>Interpretation<\/strong><\/td><td>Analyze all the transactions to check the profit, loss and liabilities.<\/td><\/tr><tr><td><strong>Communicating<\/strong><\/td><td>Communicate the financial information to the users.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Accounting in Odoo<\/h3>\n\n\n\n<p>Odoo manages a great solution which helps to maintain the financial transactions. As I mentioned Odoo is a modular based framework which means for every solution or feature Odoo have different modules. Hence, to manage the transactions of your business Odoo has Accounting for your business.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"850\" height=\"260\" src=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/Accounts.png\" alt=\"Odoo Accounting\" class=\"wp-image-259541\" srcset=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/Accounts.png 850w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/Accounts-300x92.png 300w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/Accounts-250x76.png 250w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/Accounts-768x235.png 768w\" sizes=\"(max-width: 850px) 100vw, 850px\" loading=\"lazy\" \/><\/figure>\n\n\n\n<p><strong><em>Let\u2019s get started with the working of Odoo Accounting!<\/em><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Install Accounting in Odoo<\/h3>\n\n\n\n<p>So in order to manage Odoo Accounting first you need to install the \u201c<strong>Invoicing<\/strong>\u201d module in Odoo.<\/p>\n\n\n\n<p>Inside the Odoo app list, you can search for the module \u201c<strong>account<\/strong>\u201d(technical name). Then click on the install button to achieve this feature in Odoo.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1145\" height=\"379\" src=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/1-4.png\" alt=\"Invoicing installation in Odoo\" class=\"wp-image-259338\" srcset=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/1-4.png 1145w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/1-4-300x99.png 300w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/1-4-250x83.png 250w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/1-4-768x254.png 768w\" sizes=\"(max-width: 1145px) 100vw, 1145px\" loading=\"lazy\" \/><\/figure>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>NOTE<\/strong>: Odoo Accounting automatically installs the correct Fiscal Localization Package for your company as per the country selected while creating the database. This way, the right accounts, reports, and taxes are ready-to-go.<\/p><\/blockquote>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"446\" height=\"611\" src=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/2-4.png\" alt=\"Creating Database in Odoo\" class=\"wp-image-259339\" srcset=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/2-4.png 446w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/2-4-219x300.png 219w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/2-4-182x249.png 182w\" sizes=\"(max-width: 446px) 100vw, 446px\" loading=\"lazy\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">How to set-up Odoo Accounting?<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"850\" height=\"260\" src=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/how-to-setup.png\" alt=\"how-to-setup\" class=\"wp-image-259537\" srcset=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/how-to-setup.png 850w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/how-to-setup-300x92.png 300w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/how-to-setup-250x76.png 250w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/how-to-setup-768x235.png 768w\" sizes=\"(max-width: 850px) 100vw, 850px\" loading=\"lazy\" \/><\/figure>\n\n\n\n<p>Once the accounting module is successfully installed in your Odoo instance then you can see the Accounting Welcome page. Here, you will get an onboarding banner which will help you to set-up accounting step by step.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1200\" height=\"234\" src=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/3-4-1200x234.png\" alt=\"Odoo Accounting onboarding banner\" class=\"wp-image-259340\" srcset=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/3-4-1200x234.png 1200w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/3-4-300x58.png 300w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/3-4-250x49.png 250w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/3-4-768x150.png 768w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/3-4.png 1365w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" loading=\"lazy\" \/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\">Company Data<\/h4>\n\n\n\n<p>To set-up your Odoo Accounting you can start with filling Company data. So first click on the \u201c<strong>Let\u2019s Start<\/strong>\u201d button.<\/p>\n\n\n\n<p>You can also set-up company data by going through below path,<\/p>\n\n\n\n<p>Settings \u2192 General Settings \u2192 Manage Companies<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"214\" height=\"62\" src=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/4-3.png\" alt=\"Manage companies\" class=\"wp-image-259341\" loading=\"lazy\" \/><\/figure>\n\n\n\n<p>Or,<\/p>\n\n\n\n<p>Settings \u2192 Users &amp; Companies<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"532\" height=\"141\" src=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/5-4.png\" alt=\"Navigate to the companies\" class=\"wp-image-259342\" srcset=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/5-4.png 532w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/5-4-300x80.png 300w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/5-4-250x66.png 250w\" sizes=\"(max-width: 532px) 100vw, 532px\" loading=\"lazy\" \/><\/figure>\n\n\n\n<p>Once you click on the button you will get a form where you can fill the company data like name, address, email, website, taxID etc.<\/p>\n\n\n\n<p>You need to Fill these details very carefully because these details will be visible in all the Odoo documents like receipts, invoices etc.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"978\" height=\"443\" src=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/6-3.png\" alt=\"create a company in Odoo\" class=\"wp-image-259343\" srcset=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/6-3.png 978w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/6-3-300x136.png 300w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/6-3-250x113.png 250w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/6-3-768x348.png 768w\" sizes=\"(max-width: 978px) 100vw, 978px\" loading=\"lazy\" \/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\">Bank Account<\/h4>\n\n\n\n<p>You can sync all the statements of you bank at Odoo by simply connecting bank from the form<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"621\" height=\"584\" src=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/7-1.png\" alt=\"Adding bank account in Odoo\" class=\"wp-image-259345\" srcset=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/7-1.png 621w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/7-1-300x282.png 300w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/7-1-250x235.png 250w\" sizes=\"(max-width: 621px) 100vw, 621px\" loading=\"lazy\" \/><\/figure>\n\n\n\n<p>Incase, you bank is not listed there or you don\u2019t want to connect your bank to the Odoo database then you can simply click on the \u201c<strong>Create it<\/strong>\u201d button and create your bank account manually,<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"607\" height=\"194\" src=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/8-2.png\" alt=\"add bank\" class=\"wp-image-259346\" srcset=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/8-2.png 607w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/8-2-300x96.png 300w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/8-2-250x80.png 250w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/8-2-604x194.png 604w\" sizes=\"(max-width: 607px) 100vw, 607px\" loading=\"lazy\" \/><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Name:<\/strong> Enter your bank name<\/li><li><strong>Account Number :<\/strong> Enter your bank account number<\/li><li><strong>Bank:<\/strong> Select, Create or edit it to configure your bank details<\/li><li><strong>Code:<\/strong> This code is your Journal\u2019s short Code. By default, Odoo creates a new Journal with this short Code.<\/li><li><strong>Journal:<\/strong> This field is visible only if you have any existing Bank Journal that is not added yet to a bank account. If so, then select the Journal you want to use to record the financial transactions linked to this bank account or create a new one<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Accounting Period<\/h3>\n\n\n\n<p>Add your Fiscal Years opening and closing dates here, it helps to generate reports automatically and your Tax Return Periodicity(monthly, quarterly) in Odoo, also with the help of a reminder to never miss a tax return deadline.<\/p>\n\n\n\n<p>By default, the opening date is set on the 1st of January and the closing date on the 31st of December, as this is the most common use.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"918\" height=\"176\" src=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/10-2.png\" alt=\"Accounting Period\" class=\"wp-image-259351\" srcset=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/10-2.png 918w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/10-2-300x58.png 300w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/10-2-250x48.png 250w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/10-2-768x147.png 768w\" sizes=\"(max-width: 918px) 100vw, 918px\" loading=\"lazy\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Chart of Account<\/h3>\n\n\n\n<p>From this menu you can add your accounts to the chart of accounts.<\/p>\n\n\n\n<p>All the settings related to charts of accounts are available on this page which will help you to review your chart of accounts. To access the specified chart of accounts click on the double arrow button.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1200\" height=\"191\" src=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/9-2-1200x191.png\" alt=\"Chart of Account\" class=\"wp-image-259352\" srcset=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/9-2-1200x191.png 1200w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/9-2-300x48.png 300w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/9-2-250x40.png 250w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/9-2-768x122.png 768w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/9-2.png 1348w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" loading=\"lazy\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Set-up the Odoo Invoices<\/h3>\n\n\n\n<p>To set-up the Odoo Invoices in your Odoo you can go through the below path,<\/p>\n\n\n\n<p>\u201c<strong>Accounting \u2192 Customers \u2192 Invoices<\/strong>\u201d<\/p>\n\n\n\n<p>Then you will see the invoice welcome page where you will find an onboarding banner.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Invoicing onboarding banner<\/h3>\n\n\n\n<p>With the help of invoicing onboarding banner you can setup invoicing setting in Odoo,<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1200\" height=\"231\" src=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/11-1-1200x231.png\" alt=\"Invoicing onboarding banner\" class=\"wp-image-259355\" srcset=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/11-1-1200x231.png 1200w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/11-1-300x58.png 300w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/11-1-250x48.png 250w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/11-1-768x148.png 768w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/11-1.png 1365w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" loading=\"lazy\" \/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\">Invoice Layout<\/h4>\n\n\n\n<p>Customize your invoice\/receipts documents by clicking on the \u201c<strong>Customize<\/strong>\u201d button. Then you will see a layout form where you can customize the layout.<\/p>\n\n\n\n<p>Here you can set up the company logo, Footer for the report, font size, company tagline etc.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"868\" height=\"463\" src=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/12.png\" alt=\"set up company\" class=\"wp-image-259358\" srcset=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/12.png 868w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/12-300x160.png 300w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/12-250x133.png 250w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/12-768x410.png 768w\" sizes=\"(max-width: 868px) 100vw, 868px\" loading=\"lazy\" \/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\">Payment Method<\/h4>\n\n\n\n<p>By clicking on \u201c<strong>Set Payments<\/strong>\u201d you can configure the payment methods.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"206\" height=\"114\" src=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/13.png\" alt=\"set payment method\" class=\"wp-image-259359\" loading=\"lazy\" \/><\/figure>\n\n\n\n<p>With the help of Payment method customers can pay for the invoices.<\/p>\n\n\n\n<p>When you configure a Payment Acquirer with this tool, it also activates the Invoice Online Payment option automatically. It helps users to directly pay online from their Customer Portal.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Sample Invoice<\/h4>\n\n\n\n<p>By clicking on the \u201c<strong>Send Sample<\/strong>\u201d button you can send a sample to check the invoice mail format and also you can make sure that everything is set up correctly.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"845\" height=\"478\" src=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/14.png\" alt=\"Sample Invoice\" class=\"wp-image-259361\" srcset=\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/14.png 845w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/14-300x170.png 300w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/14-250x141.png 250w, https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/14-768x434.png 768w\" sizes=\"(max-width: 845px) 100vw, 845px\" loading=\"lazy\" \/><\/figure>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>Once you are done with all the above mentioned steps then you can feel free to use your Odoo accounting !!<\/p><\/blockquote>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>We Would Love to Hear From You!<\/strong><\/h3>\n\n\n\n<p>Hope you find the blog informative! Please feel free to share your feedback in the comments below.<\/p>\n\n\n\n<p>Also, check&nbsp;<a href=\"https:\/\/store.webkul.com\/Odoo.html\">our store page&nbsp;<\/a>to go through our Odoo modules<em>.<\/em><\/p>\n\n\n\n<p>If you have any doubt or query then <strong><a href=\"https:\/\/webkul.uvdesk.com\/en\/customer\/create-ticket\/\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener\">create a ticket<\/a> <\/strong>or drop us a mail at <strong>support@webkul.com<\/strong><\/p>\n\n\n\n<p>Thanks for paying attention!!<\/p>\n\n\n\n<p>\ud83d\ude42 \ud83d\ude0a<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Odoo is an open source modular based framework. In the previous version of Odoo, it was also known as OpenErp(5 to 7 version) and TinyERP (1 to 4 version).&nbsp; Odoo framework includes multiple solutions like E-Commerce, ERP(Enterprise Resource Planning), CRM, Accounting, Inventory System, POS(Point of Sale), Manufacturing etc. To read the introduction of Odoo, you <a href=\"https:\/\/webkul.com\/blog\/odoo-accounting-getting-started-with-its-basics\/\">[&#8230;]<\/a><\/p>\n","protected":false},"author":259,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2007],"tags":[1267],"class_list":["post-259335","post","type-post","status-publish","format-standard","hentry","category-odoo","tag-odoo"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Odoo Accounting | Getting Started with the basics of Accounting in Odoo<\/title>\n<meta name=\"description\" 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