[ADD] demo/POC functional documentation
* by-application (odoo-wise) grouping * use part of the accounting TOC defined on pad * support for "internal" tocs & fixup front toc * various changes and improvements to extensions May be missing: inherited document banners?
This commit is contained in:
Xavier Morel
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===============
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Getting Started
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===============
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(copy of planner but add screenshots)
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=============
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Main Concepts
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=============
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.. toctree::
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:titlesonly:
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main_concepts/in_odoo
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main_concepts/memento
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==========================
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The Accounting behind Odoo
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==========================
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This page summarises the way Odoo deals with typical accounts and
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transactions.
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Double-entry bookkeeping
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========================
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Odoo automatically creates all the behind-the-scenes journal entries
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for each of your accounting transactions: customer invoices, point of
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sale order, expenses, inventory moves, etc.
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Odoo uses the rules of double-entry bookkeeping system: all journal
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entries are automatically balanced (sum of debits = sum of credits).
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→ Understand Odoo’s accounting transactions per document. (link to
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memento)
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Accrual and Cash Basis Methods
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==============================
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Odoo support both accrual and cash basis reporting. This allows you to
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report income / expense at the time transactions occur, or when
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payment is made or received.
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Multi-companies
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===============
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Odoo allows to manage several companies within the same database. Each
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company has its own chart of accounts an rules. You can get
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consolidation reports following your consolidation rules.
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Users can access several companies but always work in one company at a
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time.
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Multi-currencies
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================
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Every transaction is recorded in the default currency of the
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company. For transactions occurring in another currency, Odoo stores
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both the value in the currency of the company and the value in the
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currency of the transaction. Odoo can generate currencies gains and
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losses after the reconciliation of the journal items.
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Currency rates are updated once a day using a yahoo.com online
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web-service.
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International Standards
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=======================
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Odoo accounting support more than 50 countries. The Odoo core
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accounting implement accounting standards that is common to all
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countries and specific modules exists per country for the
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specificities of the country like the chart of accounts, taxes, or
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bank interfaces.
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In particular, Odoo’s core accounting engine support:
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* Anglo-Saxon Accounting (U.S., U.K.,, and other English-speaking
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countries including Ireland, Canada, Australia, and New Zealand)
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where cost of good sold are reported when products are
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sold/delivered.
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* European accounting where expenses are accounted at the supplier
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bill.
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* Storno accounting (italy) where refund invoices have negative
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credit/debit instead of a reverting the original journal items.
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Odoo also have modules to comply with IFRS rules.
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Accounts Receivable & Payable
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=============================
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By default, Odoo uses a single account for all account
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receivable entries and one for all accounts payable entries. You can
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create separate accounts per customers/suppliers, but you don’t need
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to.
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As transactions are associated to customers or suppliers, you get
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reports to perform analysis per customer/supplier such as the customer
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statement, revenues per customers, aged receivable/payables, ...
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Wide range of financial reports
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===============================
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In Odoo, you can generate financial reports in real time. Odoo's
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reports range from basic accounting reports to advanced management
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reports. Odoo's reports include:
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* Performance reports (such as Profit and Loss, Budget Variance)
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* Position reports (such as Balance Sheet, Aged Payables, Aged
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Receivables)
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* Cash reports (such as Bank Summary)
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* Detail reports (such as Trial Balance and General Ledger)
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* Management reports (such as Budgets, Executive Summary)
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Odoo's report engine allows you to customize your own report based on
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your own formulae.
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Import bank feeds automatically
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===============================
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Bank reconciliation is a process that matches your bank statement
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lines, as supplied by the bank, to your accounting transactions in the
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general ledger. Odoo makes bank reconciliation easy by frequently
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importing bank statement lines from your bank directly into your Odoo
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account. This means you can have a daily view of your cashflow without
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having to log into your online banking or wait for your paper bank
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statements.
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Odoo speeds up bank reconciliation by matching most of your imported
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bank statement lines to your accounting transactions. Odoo also
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remembers how you've treated other bank statement lines and provides
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suggested general ledger transactions.
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Calculates the tax you owe your tax authority
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=============================================
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Odoo totals all your accounting transactions for your tax period and
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uses these totals to calculate your tax obligation. You can then check
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your sales tax by running Odoo's Tax Report.
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Inventory Valuation
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===================
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Odoo support both periodic (manual) and perpetual (automated)
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inventory valuations. The available methods are standard price,
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average price, LIFO (for countries allowing it) and FIFO.
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→ View impact of the valuation method on your transactions (link to
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memento)
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Easy retained earnings
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======================
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Retained earnings is the portion of income retained by your
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business. Odoo automatically calculates your current year earnings in
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real time so no year-end journal or rollover is required. This is
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calculated by reporting the profit and loss balance to your balance
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sheet report automatically.
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:code-column:
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==============================================
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Accounting Memento For Entrepreneurs (US GAAP)
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==============================================
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.. h:div:: intro-list
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.. rst-class:: intro-p-l
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The **Profit and Loss** (P&L) report shows the performance of the company
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over a specific period (usually the current year).
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* .. rst-class:: intro-gross-profit
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The **Gross Profit** equals the revenues from sales minus the cost of
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goods sold.
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* .. rst-class:: intro-opex
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**Operating Expenses** (OPEX) include administration, sales and R&D
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salaries as well as rent and utilities, miscellaneous costs, insurances,
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… anything beyond the costs of products sold.
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.. rst-class:: intro-balance
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The **Balance Sheet** is a snapshot of the company's finances at a specific
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date (as opposed to the Profit and Loss which is an analysis over a period)
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* .. rst-class:: intro-assets
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**Assets** represent the company's wealth, things it owns. Fixed assets
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includes building and offices, current assets include bank accounts and
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cash. A client owing money is an asset. An employee is not an asset.
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* .. rst-class:: intro-liabilities
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**Liabilities** are obligations from past events that the company will
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have to pay in the future (utility bills, debts, unpaid suppliers).
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* .. rst-class:: intro-equity
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**Equity** is the amount of the funds contributed by the owners (founders
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or shareholders) plus previously retained earnings (or losses).
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.. rst-class:: intro-retained
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Each year, net profits (or losses) are reported to retained earnings.
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.. h:div:: doc-aside accounts-table
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.. placeholder
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What is owned (an asset) has been financed through debts to reimburse
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(liabilities) or equity (profits, capital).
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A difference is made between buying an assets (e.g. a building) and expenses
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(e.g. fuel). Assets have an intrinsic value over time, versus expenses having
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value in them being consumed for the company to "work".
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.. rst-class:: doc-aside
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.. highlights:: Assets = Liabilities + Equity
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Chart of Accounts
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=================
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The **chart of accounts** lists all the accounts, whether they are balance
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sheet accounts or P&L accounts. Every financial transaction (e.g. a payment, an
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invoice) impacts accounts by moving value from one account (credit) to an other
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account (debit).
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.. h:div:: doc-aside
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.. highlights:: Balance = Debit - Credit
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.. h:div:: chart-of-accounts
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.. placeholder
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Journal Entries
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===============
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Every financial document of the company (e.g. an invoice, a bank statement, a
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pay slip, a capital increase contract) is recorded as a journal entry,
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impacting several accounts.
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For a journal entry to be *balanced*, the sum of all its debits must be equal
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to the sum of all its credits.
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.. h:div:: doc-aside journal-entries
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examples of accounting entries for various transactions. Example:
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Example 1: Customer Invoice:
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Explanation:
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- You generate a revenue of $1,000
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- You have a tax to pay of $90
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- The customer owes $1,090
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Configuration:
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- Income: defined on the product, or the product category
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- Account Receivable: defined on the customer
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- Tax: defined on the tax set on the invoice line
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The fiscal position used on the invoice may have a rule that
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replaces the Income Account or the tax defined on the product by another
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one.
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Example 2: Customer Payment:
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Explanation:
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- Your customer owes $1,090 less
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- Your receive $1,090 on your bank account
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Configuration:
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- Bank Account: defined on the related bank journal
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- Account Receivable: defined on the customer
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.. _accounting/reconciliation:
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Reconciliation
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==============
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Reconciliation is the process of linking journal items of a specific account,
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matching credits and debits.
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Its primary purpose is to link payments to their related invoices in order to
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mark invoices that are paid and clear the customer statement. This is done by
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doing a reconciliation on the *Accounts Receivable* account.
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An invoice is marked as paid when its Accounts Receivable journal items are
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reconciled with the related payment journal items.
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Reconciliation is performed automatically by the system when:
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* the payment is registered directly on the invoice
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* the links between the payments and the invoices are detected at the bank
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matching process
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.. h:div:: doc-aside reconciliation-example
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.. rubric:: Customer Statement Example
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.. rst-class:: table-condensed d-c-table
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+-------------------------+-------------------------+-----------------------+
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|Accounts Receivable |Debit |Credit |
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+=========================+=========================+=======================+
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|Invoice 1 |100 | |
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+-------------------------+-------------------------+-----------------------+
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|Payment 1.1 | |70 |
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+-------------------------+-------------------------+-----------------------+
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|Invoice 2 |65 | |
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+-------------------------+-------------------------+-----------------------+
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|Payment 1.2 | |30 |
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+-------------------------+-------------------------+-----------------------+
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|Payment 2 | |65 |
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+-------------------------+-------------------------+-----------------------+
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|Invoice 3 |50 | |
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+-------------------------+-------------------------+-----------------------+
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| | | |
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+-------------------------+-------------------------+-----------------------+
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|Total To Pay |50 | |
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+-------------------------+-------------------------+-----------------------+
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Bank Reconciliation
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===================
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Bank reconciliation is the matching of bank statement lines (provided by your
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bank) with transactions recorded internally (payments to suppliers or from
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customers). For each line in a bank statement, it can be:
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matched with a previously recorded payment:
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a payment is registered when a check is received from a customer, then
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matched when checking the bank statement
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recorded as a new payment:
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the payment's journal entry is created and :ref:`reconciled
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<accounting/reconciliation>` with the related invoice when processing the
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bank statement
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recorded as another transaction:
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bank transfer, direct charge, etc.
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Odoo should automatically reconcile most transactions, only a few of them
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should need manual review. When the bank reconciliation process is finished,
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the balance on the bank account in Odoo should match the bank statement's
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balance.
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.. rst-class:: checks-handling
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Checks Handling
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===============
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There are two approaches to manage checks and internal wire transfer:
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* Two journal entries and a reconciliation
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* One journal entry and a bank reconciliation
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.. h:div:: doc-aside
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The first journal entry is created by registering the payment on the
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invoice. The second one is created when registering the bank statement.
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.. rst-class:: table-condensed d-c-table
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+-------------------------+--------------+------------+---------------+
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|Account |Debit |Credit |Reconciliation |
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+=========================+==============+============+===============+
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|Account Receivable | |100 |Invoice ABC |
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+-------------------------+--------------+------------+---------------+
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|Undeposited funds |100 | |Check 0123 |
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+-------------------------+--------------+------------+---------------+
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.. rst-class:: table-condensed d-c-table
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+-------------------------+--------------+------------+---------------+
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|Account |Debit |Credit |Reconciliation |
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+=========================+==============+============+===============+
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|Undeposited funds | |100 |Check 0123 |
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+-------------------------+--------------+------------+---------------+
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|Bank |100 | | |
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+-------------------------+--------------+------------+---------------+
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.. h:div:: doc-aside
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A journal entry is created by registering the payment on the invoice. When
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reconciling the bank statement, the statement line is linked to the
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existing journal entry.
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.. rst-class:: table-condensed d-c-table
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+-------------------------+--------------+------------+---------------+---------------+
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|Account |Debit |Credit |Reconciliation |Bank Statement |
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+=========================+==============+============+===============+===============+
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|Account Receivable | |100 |Invoice ABC | |
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+-------------------------+--------------+------------+---------------+---------------+
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|Bank |100 | | |Statement XYZ |
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+-------------------------+--------------+------------+---------------+---------------+
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================
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Process overview
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================
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.. toctree::
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:titlesonly:
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process_overview/customer_invoice
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process_overview/supplier_bill
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==================================
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From Invoice to Payment Collection
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==================================
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Odoo provides you easy flow to process various invoices easily and
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collecting its payment with easy steps.
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@@ -0,0 +1,9 @@
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==============================
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From Billing to payment orders
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==============================
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Creating Bills
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==============
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You can create multiple Supplier Bills and instead of paying one by
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one with direct payment button, you can pay later.
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@@ -0,0 +1,37 @@
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========================
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Accounting Terminologies
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========================
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.. glossary::
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Journal
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A journal is like a folder in which you record all transactions
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of the same type: all the statements of a bank account, all
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customer invoices, all supplier bills. It’s used to organize
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similar transactions together.
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Payment Terms
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Payment terms describe how and when a customer invoice (or
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supplier bill) should be pay over the time. Example: 30% direct
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payment, balance in two months.
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Bank Reconciliation
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Bank reconciliation is the process of matching your payment lines
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with existing journal items or creating new journal items on the
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fly.
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Reconciliation
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Journal items reconciliation is the process of linking several
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journal items together like an invoice and a payment. This allows
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to mark invoices as paid.
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Deposit Ticket
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Deposit tickets group several payment orders (usually checks)
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that are deposited together at the bank. This allows an easy
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reconciliation with the bank statement line if the line has one
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line per deposit.
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Reference in New Issue
Block a user