[MOV] accounting: restructuration of the accounting documentation

This commit improves the structure of the accounting documentation by
- reducing the levels necessary to reach the information
- grouping some docs
- moving content to their parent category page (content in all levels)
- renaming some sections to reflect the structure of the app better

task-3330093

closes odoo/documentation#4478

X-original-commit: 14afa1a1a2
Signed-off-by: Castillo Jonathan (jcs) <jcs@odoo.com>

content/applications/finance/accounting/get_started/avg_price_valuation.rst

@@ -0,0 +1,167 @@
+=================================
+Inventory average price valuation
+=================================
+
+As stated in the :doc:`inventory valuation page
+</applications/inventory_and_mrp/inventory/management/reporting/inventory_valuation_config>`,
+one of the possible costing method you can use in perpetual stock
+valuation, is the average cost.
+
+This document answers to one recurrent question for companies using that
+method to make their stock valuation: how does a shipping returned to
+its supplier impact the average cost and the accounting entries? This
+document is **only** for the specific use case of a perpetual valuation (as
+opposed to the periodic one) and in average price costing method (as
+opposed to standard of FIFO).
+
+Definition of average cost
+==========================
+
+The average cost method calculates the cost of ending inventory and cost
+of goods sold on the basis of weighted average cost per unit of
+inventory.
+
+The weighted average cost per unit is calculated using the following
+formula:
+
+- When new products arrive in a warehouse, the new average cost is
+  recomputed as:
+
+.. image:: avg_price_valuation/avg01.png
+   :align: center
+
+- When products leave the warehouse: the average cost **does not** change
+
+Defining the purchase price
+---------------------------
+
+The purchase price is estimated at the reception of the products (you
+might not have received the vendor bill yet) and reevaluated at the
+reception of the vendor bill. The purchase price includes the cost you
+pay for the products, but it may also includes additional costs, like
+landed costs.
+
+Average cost example
+====================
+
++-----------------------------+---------------+-------------------+---------------+------------+
+| Operation                   | Delta Value   | Inventory Value   | Qty On Hand   | Avg Cost   |
++=============================+===============+===================+===============+============+
+|                             |               | $0                | 0             | $0         |
++-----------------------------+---------------+-------------------+---------------+------------+
+| Receive 8 Products at $10   | +8\*$10       | $80               | 8             | $10        |
++-----------------------------+---------------+-------------------+---------------+------------+
+| Receive 4 Products at $16   | +4\*$16       | $144              | 12            | $12        |
++-----------------------------+---------------+-------------------+---------------+------------+
+| Deliver 10 Products         | -10\*$12      | $24               | 2             | $12        |
++-----------------------------+---------------+-------------------+---------------+------------+
++-----------------------------+---------------+-------------------+---------------+------------+
+
+At the beginning, the Avg Cost is set to 0 set as there is no product in
+the inventory. When the first reception is made, the average cost
+becomes logically the purchase price.
+
+At the second reception, the average cost is updated because the total
+inventory value is now ``$80 + 4*$16 = $144``. As we have 12 units on
+hand, the average price per unit is ``$144 / 12 = $12``.
+
+By definition, the delivery of 10 products does not change the average
+cost. Indeed, the inventory value is now $24 as we have only 2 units
+remaining of each ``$24 / 2 = $12``.
+
+Purchase return use case
+========================
+
+In case of a product returned to its supplier after reception, the
+inventory value is reduced using the average cost formulae (not at the
+initial price of these products!).
+
+Which means that the above table will be updated as follow:
+
++-----------------------------------------------+---------------+-------------------+---------------+------------+
+| Operation                                     | Delta Value   | Inventory Value   | Qty On Hand   | Avg Cost   |
++===============================================+===============+===================+===============+============+
+|                                               |               | $24               | 2             | $12        |
++-----------------------------------------------+---------------+-------------------+---------------+------------+
+| Return of 1 Product initially bought at $10   | -1\*$12       | $12               | 1             | $12        |
++-----------------------------------------------+---------------+-------------------+---------------+------------+
+
+Explanation: counter example
+----------------------------
+
+Remember the definition of **Average Cost**, saying that we do not update
+the average cost of a product leaving the inventory. If you break this
+rule, you may lead to inconsistencies in your inventory.
+
+As an example, here is the scenario when you deliver one piece to the
+customer and return the other one to your supplier (at the cost you
+purchased it). Here is the operation:
+
++-----------------------------------------------+---------------+-------------------+---------------+------------+
+| Operation                                     | Delta Value   | Inventory Value   | Qty On Hand   | Avg Cost   |
++===============================================+===============+===================+===============+============+
+|                                               |               | $24               | 2             | $12        |
++-----------------------------------------------+---------------+-------------------+---------------+------------+
+| Customer Shipping 1 product                   | -1\*$12       | $12               | 1             | $12        |
++-----------------------------------------------+---------------+-------------------+---------------+------------+
+| Return of 1 Product initially bought at $10   | -1\*$10       | **$2**            | **0**         | $12        |
++-----------------------------------------------+---------------+-------------------+---------------+------------+
+
+As you can see in this example, this is not correct: an inventory
+valuation of $2 for 0 pieces in the warehouse.
+
+The correct scenario should be to return the goods at the current
+average cost:
+
++-----------------------------------------------+---------------+-------------------+---------------+------------+
+| Operation                                     | Delta Value   | Inventory Value   | Qty On Hand   | Avg Cost   |
++===============================================+===============+===================+===============+============+
+|                                               |               | $24               | 2             | $12        |
++-----------------------------------------------+---------------+-------------------+---------------+------------+
+| Customer Shipping 1 product                   | -1\*$12       | $12               | 1             | $12        |
++-----------------------------------------------+---------------+-------------------+---------------+------------+
+| Return of 1 Product initially bought at $10   | -1\*$12       | **$0**            | **0**         | $12        |
++-----------------------------------------------+---------------+-------------------+---------------+------------+
+
+On the other hand, using the average cost to value the return ensure a
+correct inventory value at all times.
+
+Further thoughts on anglo saxon mode
+------------------------------------
+
+For people in using the **anglo saxon accounting** principles, there is
+another concept to take into account: the stock input account of the
+product, which is intended to hold at any time the value of vendor bills
+to receive. So the stock input account will increase on reception of
+incoming shipments and will decrease when receiving the related vendor
+bills.
+
+Back to our example, we see that when the return is valued at the
+average price, the amount booked in the stock input account is the
+original purchase price:
+
++-----------------------------------------------+---------------+--------------+-------------------+---------------+------------+
+| Operation                                     | stock input   | price diff   | Inventory Value   | Qty On Hand   | Avg Cost   |
++===============================================+===============+==============+===================+===============+============+
+|                                               |               |              | $0                | 0             | $0         |
++-----------------------------------------------+---------------+--------------+-------------------+---------------+------------+
+| Receive 8 Products at $10                     | ($80)         |              | $80               | 8             | $10        |
++-----------------------------------------------+---------------+--------------+-------------------+---------------+------------+
+| Receive vendor bill $80                       | $0            |              | $80               | 8             | $10        |
++-----------------------------------------------+---------------+--------------+-------------------+---------------+------------+
+| Receive 4 Products at $16                     | ($64)         |              | $144              | 12            | $12        |
++-----------------------------------------------+---------------+--------------+-------------------+---------------+------------+
+| Receive vendor bill $64                       | $0            |              | $144              | 12            | $12        |
++-----------------------------------------------+---------------+--------------+-------------------+---------------+------------+
+| Deliver 10 Products                           | $0            |              | $24               | 2             | $12        |
++-----------------------------------------------+---------------+--------------+-------------------+---------------+------------+
+| Return of 1 Product initially bought at $10   | **$10**       | **$2**       | **$12**           | 1             | $12        |
++-----------------------------------------------+---------------+--------------+-------------------+---------------+------------+
+| Receive vendor refund $10                     | $0            | $2           | $12               | 1             | $12        |
++-----------------------------------------------+---------------+--------------+-------------------+---------------+------------+
+
+This is because the vendor refund will be made using the original
+purchase price, so to zero out the effect of the return in the stock
+input in last operation, we need to reuse the original price. The price
+difference account located on the product category is used to book the
+difference between the average cost and the original purchase price.

content/applications/finance/accounting/get_started/chart_of_accounts.rst

@@ -0,0 +1,189 @@
+=================
+Chart of accounts
+=================
+
+The **chart of accounts (COA)** is the list of all the accounts used to record financial
+transactions in the general ledger of an organization.
+
+The accounts are usually listed in the order of appearance in the financial reports. Most of the
+time, they are listed as follows :
+
+- Balance Sheet accounts:
+
+  - Assets
+  - Liabilities
+  - Equity
+
+- Profit & Loss:
+
+  - Income
+  - Expense
+
+When browsing your chart of accounts, you can filter the accounts by number, in the left column, and
+also group them by :guilabel:`Account Type`.
+
+.. image:: chart_of_accounts/chart-of-accounts.png
+   :align: center
+   :alt: Group the accounts by type in Odoo Accounting
+
+Configuration of an account
+===========================
+
+The country you select at the creation of your database (or additional company on your database)
+determines which **fiscal localization package** is installed by default. This package includes a
+standard chart of accounts already configured according to the country's regulations. You can use
+it directly or set it according to your company's needs.
+
+.. warning::
+   It is not possible to modify the **fiscal localization** of a company once a journal entry has
+   been posted.
+
+To create a new account, go to :menuselection:`Accounting --> Configuration --> Chart of Accounts`,
+click on :guilabel:`Create`, and fill out the form.
+
+Code and name
+-------------
+
+Each account is identified by its **code** and **name**, which also indicates the account's purpose.
+
+.. _chart-of-account/type:
+
+Type
+----
+
+Correctly configuring the **account type** is critical as it serves multiple purposes:
+
+- Information on the account's purpose and behavior
+- Generate country-specific legal and financial reports
+- Set the rules to close a fiscal year
+- Generate opening entries
+
+To configure an account type, open the :guilabel:`Type` field's drop-down selector and select the
+right type among the following list:
+
++---------------+--------------+-------------------------+
+| Report        | Category     | Account Types           |
++===============+==============+=========================+
+| Balance Sheet | Assets       | Receivable              |
+|               |              +-------------------------+
+|               |              | Bank and Cash           |
+|               |              +-------------------------+
+|               |              | Current Assets          |
+|               |              +-------------------------+
+|               |              | Non-current Assets      |
+|               |              +-------------------------+
+|               |              | Prepayments             |
+|               |              +-------------------------+
+|               |              | Fixed Assets            |
+|               +--------------+-------------------------+
+|               | Liabilities  | Payable                 |
+|               |              +-------------------------+
+|               |              | Credit Card             |
+|               |              +-------------------------+
+|               |              | Current Liabilities     |
+|               |              +-------------------------+
+|               |              | Non-current Liabilities |
+|               +--------------+-------------------------+
+|               | Equity       | Equity                  |
+|               |              +-------------------------+
+|               |              | Current Year Earnings   |
++---------------+--------------+-------------------------+
+| Profit & Loss | Income       | Income                  |
+|               |              +-------------------------+
+|               |              | Other Income            |
+|               +--------------+-------------------------+
+|               | Expense      | Expense                 |
+|               |              +-------------------------+
+|               |              | Depreciation            |
+|               |              +-------------------------+
+|               |              | Cost of Revenue         |
++---------------+--------------+-------------------------+
+|Other          | Other        | Off-Balance Sheet       |
++---------------+--------------+-------------------------+
+
+Assets, deferred expenses, and deferred revenues automation
+~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
+
+Some **account types** display a new field **to automate** the creation of :ref:`assets
+<assets-automation>` entries, :ref:`deferred expenses <deferred-expenses-automation>` entries,
+and :ref:`deferred revenues <deferred-revenues-automation>` entries.
+
+You have three choices for the :guilabel:`Automation` field:
+
+#. :guilabel:`No`: this is the default value. Nothing happens.
+#. :guilabel:`Create in draft`: whenever a transaction is posted on the account, a draft entry is
+   created, but not validated. You must first fill out the corresponding form.
+#. :guilabel:`Create and validate`: you must also select a **model**. Whenever a transaction is
+   posted on the account, an entry is created and immediately validated.
+
+Default taxes
+-------------
+
+Select a **default tax** that will be applied when this account is chosen for a product sale or
+purchase.
+
+Tags
+----
+
+Some accounting reports require **tags** to be set on the relevant accounts. By default, you can
+choose among the tags that are used by the *Cash Flow Statement*.
+
+Account groups
+--------------
+
+**Account groups** are useful to list multiple accounts as *sub-accounts* of a bigger account and
+thus consolidate reports such as the **Trial Balance**. By default, groups are handled automatically
+based on the code of the group. For example, a new account `131200` is going to be part of the group
+`131000`.
+
+Create account groups manually
+------------------------------
+
+.. note::
+   Regular users should not need to create account groups manually. The following section is only
+   intended for rare and advanced use cases.
+
+To create a new account group, :ref:`developer mode <developer-mode>` and head to
+:menuselection:`Accounting app --> Configuration --> Account Groups`. Here, create a new group and
+enter the :guilabel:`name, code prefix, and company` to which that group account should be
+available. Note that you must enter the same code prefix in both :guilabel:`From` and :guilabel:`to`
+fields.
+
+.. image:: chart_of_accounts/account-groups.png
+   :align: center
+   :alt: Account groups creation.
+
+To display your **Trial Balance** report with your account groups, go to :menuselection:`Accounting
+app-->Reporting-->Trial Balance`, then open the :guilabel:`Options` menu and select
+:guilabel:`Hierarchy and Subtotals`.
+
+.. image:: chart_of_accounts/trial-balance.png
+   :align: center
+   :alt: Account Groups in the Trial Balance in Odoo Accounting
+
+Allow reconciliation
+--------------------
+
+Some accounts, such as accounts made to record the transactions of a payment method, can be used for
+the reconciliation of journal entries.
+
+For example, an invoice paid with a credit card can be marked as :guilabel:`paid` if reconciled with
+its payment. Therefore, the account used to record credit card payments needs to be configured as
+**allowing reconciliation**.
+
+To do so, check the :guilabel:`Allow Reconciliation` box in the account's settings, and save.
+
+Deprecated
+----------
+
+It is not possible to delete an account once a transaction has been recorded on it. You can make
+them unusable by using the **Deprecated** feature.
+
+To do so, check the :guilabel:`Deprecated` box in the account's settings, and save.
+
+.. seealso::
+   * :doc:`cheat_sheet`
+   * :doc:`../vendor_bills/assets`
+   * :doc:`../vendor_bills/deferred_expenses`
+   * :doc:`../customer_invoices/deferred_revenues`
+   * :doc:`../../fiscal_localizations`

content/applications/finance/accounting/get_started/cheat_sheet.rst

@@ -0,0 +1,253 @@
+:code-column:
+:custom-css: accounting.css
+:custom-js: accounts.js,chart-of-accounts.js,entries.js,misc.js,reconciliation.js
+
+======================
+Accounting cheat sheet
+======================
+
+.. h:div:: intro-list
+
+   .. rst-class:: intro-balance
+
+   The **Balance Sheet** is a snapshot of the company's finances at a specific date (as opposed to
+   the Profit and Loss, which is an analysis over a period).
+
+   * .. rst-class:: intro-assets
+
+     **Assets** represent the company's wealth and the goods it owns. Fixed assets include buildings
+     and offices, while current assets include bank accounts and cash. The money owed by a client is
+     an asset. An employee is not an asset.
+
+   * .. rst-class:: intro-liabilities
+
+     **Liabilities** are obligations from past events that the company will have to pay in the
+     future (utility bills, debts, unpaid suppliers). Liabilities could also be defined as a source
+     of financing which is provided to the company, also called *leverage*.
+
+   * .. rst-class:: intro-equity
+
+     **Equity** is the amount of the funds contributed by the owners of the company (founders or
+     shareholders) plus previously retained earnings (or losses). Each year, net profits (or losses)
+     may be reported as retained earnings or distributed to the shareholders (as a dividend).
+
+What is owned (an asset) has been financed through debts to reimburse (liabilities) or equity
+(profits, capital).
+
+A difference is made between **assets** and **expenses**:
+   - An **asset** is a resource with economic value that an individual, corporation, or country owns
+     or controls with the expectation that it will provide a future benefit. Assets are reported on
+     a company's balance sheet. They are bought or created to increase a firm's value or benefit its
+     operations.
+   - An **expense** is the costs of operations a company bears to generate revenues.
+
+.. h:div:: intro-list
+
+   .. rst-class:: intro-p-l
+
+    The **profit and loss** (P&L) report shows the company's performance over a specific period of
+    time, usually a quarter or a fiscal year.
+
+     * .. rst-class:: intro-gross-profit
+
+         The **revenue** refers to the money earned by the company by selling goods and/or services.
+
+     * .. rst-class:: intro-gross-profit
+
+         The **cost of goods sold** (COGS, or also known as "Cost of Sale") refers to the sale of
+         goods' costs (e.g., the cost of the materials and labor used to create the goods).
+
+       * .. rst-class:: intro-gross-profit
+
+         The **Gross profit** equals the revenues from sales minus the cost of goods sold.
+
+       * .. rst-class:: intro-opex
+
+         **Operating expenses** (OPEX) include administration, sales and R&D salaries, rent and
+         utilities, miscellaneous costs, insurances, and anything beyond the costs of products sold
+         or the cost of sale.
+
+.. h:div:: doc-aside accounts-table
+
+   .. placeholder
+
+.. rst-class:: doc-aside
+
+.. highlights:: Assets = Liabilities + Equity
+
+Chart of accounts
+=================
+
+The **chart of accounts** lists all the company's accounts: both Balance sheet accounts and P&L
+accounts. Every transaction is recorded by debiting and crediting multiple accounts in a journal
+entry. In a way, a chart of accounts is like a company's DNA!
+
+Every account listed in the chart of accounts belongs to a specific category. In Odoo, each account
+has a unique code and belongs to one of these categories:
+
+- **Equity and subordinated debts**
+     - **Equity** is the amount of money invested by a company's shareholders to finance the
+       company's activities.
+     - **Subordinated debts** are the amount of money lent by a third party to a company to finance
+       its activities. In the event of the dissolution of a company, these third parties are
+       reimbursed before the shareholders.
+- **Fixed assets** are tangible (i.e., physical) items or properties that a company purchases and
+  uses to produce its goods and services. Fixed assets are long-term assets. This means the assets
+  have a useful life of more than one year. They also include properties, plants, and equipments
+  (also known as "PP&E") and are recorded on the balance sheet with that classification.
+- **Current assets and liabilities**
+     - The **current assets** account is a balance sheet line item listed under the Assets section,
+       which accounts for all company-owned assets that can be converted to cash within one year.
+       Current assets include cash, cash equivalents, accounts receivable, stock inventory,
+       marketable securities, prepaid liabilities, and other liquid assets.
+     - **Current liabilities** are a company's short-term financial obligations due within one year.
+       An example of a current liability is money owed to suppliers in the form of accounts payable.
+- **Bank and cash accounts**
+     - A **bank account** is a financial account maintained by a bank or other financial institution
+       in which the financial transactions between the bank and a customer are recorded.
+     - A **cash account**, or cash book, may refer to a ledger in which all cash transactions are
+       recorded. The cash account includes both the cash receipts and the cash payment journals.
+- **Expenses and income**
+     - An **expense** is the costs of operations a company bears to generate revenues. It is simply
+       defined as the cost one is required to spend on obtaining something. Common expenses include
+       supplier payments, employee wages, factory leases, and equipment depreciation.
+     - The term "**income**" generally refers to the amount of money, property, and other transfers
+       of value received over a set period of time in exchange for services or products.
+
+Example
+-------
+
+.. h:div:: example
+
+   \*: Customer Refund and Customer Payment boxes cannot be simultaneously selected as they are contradictory.
+
+.. h:div:: doc-aside
+
+   .. highlights:: Balance = Debit - Credit
+
+   .. h:div:: chart-of-accounts
+
+      .. placeholder
+
+Journal entries
+===============
+
+Every financial document of the company (e.g., an invoice, a bank statement, a pay slip, a capital
+increase contract) is recorded as a journal entry, impacting several accounts.
+
+For a journal entry to be balanced, the sum of all its debits must be equal to the sum of all its
+credits.
+
+.. h:div:: doc-aside journal-entries
+
+   examples of accounting entries for various transactions. (see entries.js)
+
+.. _accounting/reconciliation:
+
+Reconciliation
+==============
+
+:doc:`Reconciliation <../../accounting/bank/reconciliation>` is the process of linking
+journal items of a specific account and matching credits and debits.
+
+Its primary purpose is to link payments to their related invoices to mark them as paid. This is done
+by doing a reconciliation on the accounts receivable account and/or the accounts payable account.
+
+Reconciliation is performed automatically by the system when:
+
+- the payment is registered directly on the invoice
+- the links between the payments and the invoices are detected at the bank matching process
+
+.. h:div:: doc-aside reconciliation-example
+
+   .. rubric:: Customer Statement Example
+
+   .. rst-class:: table-sm d-c-table
+
+   +-------------------------+-------------------------+-----------------------+
+   |Accounts Receivable      |Debit                    |Credit                 |
+   +=========================+=========================+=======================+
+   |Invoice 1                |100                      |                       |
+   +-------------------------+-------------------------+-----------------------+
+   |Partial payment 1/2      |                         |70                     |
+   +-------------------------+-------------------------+-----------------------+
+   |Invoice 2                |65                       |                       |
+   +-------------------------+-------------------------+-----------------------+
+   |Partial payment 2/2      |                         |30                     |
+   +-------------------------+-------------------------+-----------------------+
+   |Payment 2                |                         |65                     |
+   +-------------------------+-------------------------+-----------------------+
+   |Invoice 3                |50                       |                       |
+   +-------------------------+-------------------------+-----------------------+
+   |                         |                         |                       |
+   +-------------------------+-------------------------+-----------------------+
+   |Total to pay             |50                       |                       |
+   +-------------------------+-------------------------+-----------------------+
+
+Bank Reconciliation
+===================
+
+Bank reconciliation is the matching of bank statement lines (provided by your bank) with
+transactions recorded internally (payments to suppliers or from customers). For each line in a bank
+statement, it can be:
+
+- **matched with a previously recorded payment**: a payment is registered when a check is received
+  from a customer, then matched when checking the bank statement.
+- **recorded as a new payment**: the payment's journal entry is created and reconciled with the
+  related invoice when processing the bank statement.
+- **recorded as another transaction**: bank transfer, direct charge, etc.
+
+Odoo should automatically reconcile most transactions; only a few should need manual review. When
+the bank reconciliation process is finished, the balance on the bank account in Odoo should match
+the bank statement's balance.
+
+.. rst-class:: checks-handling
+
+Checks Handling
+===============
+
+There are two approaches to managing checks and internal wire transfers:
+
+- Two journal entries and a reconciliation
+- One journal entry and a bank reconciliation
+
+.. h:div:: doc-aside
+
+   The first journal entry is created by registering the payment on the
+   invoice. The second one is created when registering the bank statement.
+
+   .. rst-class:: table-sm d-c-table
+
+   +-------------------------+--------------+------------+---------------+
+   |Account                  |Debit         |Credit      |Reconciliation |
+   +=========================+==============+============+===============+
+   |Account Receivable       |              |100         |Invoice ABC    |
+   +-------------------------+--------------+------------+---------------+
+   |Undeposited funds        |100           |            |Check 0123     |
+   +-------------------------+--------------+------------+---------------+
+
+   .. rst-class:: table-sm d-c-table
+
+   +-------------------------+--------------+------------+---------------+
+   |Account                  |Debit         |Credit      |Reconciliation |
+   +=========================+==============+============+===============+
+   |Undeposited funds        |              |100         |Check 0123     |
+   +-------------------------+--------------+------------+---------------+
+   |Bank                     |100           |            |               |
+   +-------------------------+--------------+------------+---------------+
+
+.. h:div:: doc-aside
+
+   A journal entry is created by registering the payment on the invoice. When
+   reconciling the bank statement, the statement line is linked to the
+   existing journal entry.
+
+   .. rst-class:: table-sm d-c-table
+
+   +-------------------------+--------------+------------+---------------+---------------+
+   |Account                  |Debit         |Credit      |Reconciliation |Bank Statement |
+   +=========================+==============+============+===============+===============+
+   |Account Receivable       |              |100         |Invoice ABC    |               |
+   +-------------------------+--------------+------------+---------------+---------------+
+   |Bank                     |100           |            |               |Statement XYZ  |
+   +-------------------------+--------------+------------+---------------+---------------+

content/applications/finance/accounting/get_started/multi_currency.rst

@@ -0,0 +1,167 @@
+=====================
+Multi-currency system
+=====================
+
+Odoo allows you to issue invoices, receive bills, and record transactions in currencies other than
+the main currency configured for your company. You can also set up bank accounts in other currencies
+and run reports on your foreign currency activities.
+
+.. seealso::
+   - :doc:`../bank/foreign_currency`
+
+.. _multi-currency/config:
+
+Configuration
+=============
+
+.. _multi-currency/config-main-currency:
+
+Main currency
+-------------
+
+The **main currency** is defined by default according to the company's country. You can change it by
+going to :menuselection:`Accounting --> Configuration --> Settings --> Currencies` and changing the
+currency in the :guilabel:`Main Currency` setting.
+
+.. _multi-currency/config-enable:
+
+Enable foreign currencies
+-------------------------
+
+Go to :menuselection:`Accounting --> Configuration --> Currencies`, and enable the currencies you
+wish to use by toggling the :guilabel:`Active` button.
+
+.. image:: multi_currency/enable-foreign-currencies.png
+   :align: center
+   :alt: Enable the currencies you wish to use.
+
+.. _multi-currency/config-rates:
+
+Currency rates
+--------------
+
+Manual update
+~~~~~~~~~~~~~
+
+To manually create and set a currency rate, go to :menuselection:`Accounting --> Configuration -->
+Currencies`, click on the currency you wish to change the rate of, and under the :guilabel:`Rates`
+tab, click :guilabel:`Add a line` to create a new rate.
+
+.. image:: multi_currency/manual-rate-update.png
+  :align: center
+  :alt: Create or modify the currency rate.
+
+Automatic update
+~~~~~~~~~~~~~~~~
+
+When you activate a second currency for the first time, :guilabel:`Automatic Currency Rates` appears
+under :menuselection:`Accounting Dashboard --> Configuration --> Settings --> Currencies`. By
+default, you have to click on the **Update now** button (:guilabel:`🗘`) to update the rates.
+
+Odoo can update the rates at regular intervals. To do so, change the :guilabel:`Interval` from
+:guilabel:`Manually` to :guilabel:`Daily`, :guilabel:`Weekly`, or :guilabel:`Monthly`. You can also
+select the web service from which you want to retrieve the latest currency rates by clicking on the
+:guilabel:`Service` field.
+
+.. _multi-currency/config-exch-diff:
+
+Exchange difference entries
+---------------------------
+
+Odoo automatically records exchange differences entries on dedicated accounts, in a dedicated
+journal.
+
+You can define which journal and accounts to use to **post exchange difference entries** by
+going to :menuselection:`Accounting --> Configuration --> Settings --> Default Accounts` and editing
+the :guilabel:`Journal`, :guilabel:`Gain Account`, and :guilabel:`Loss Account`.
+
+.. example::
+   If you receive a payment for a customer invoice one month after it was issued, the exchange rate
+   has likely changed since. Therefore, this fluctuation implies some profit or loss due to the
+   exchange difference, which Odoo automatically records in the default **Exchange Difference**
+   journal.
+
+.. _multi-currency/config-coa:
+
+Chart of accounts
+-----------------
+
+Each account can have a set currency. By doing so, all moves relevant to the account are forced to
+have that account's currency.
+
+To do so, go to :menuselection:`Accounting --> Configuration --> Charts of Accounts` and select a
+currency in the field :guilabel:`Account Currency`. If left empty, all active currencies are handled
+instead of just one.
+
+.. _multi-currency/config-journals:
+
+Journals
+--------
+
+If a currency is set on a **journal**, that journal only handles transactions in that currency.
+
+To do so, go to :menuselection:`Accounting --> Configuration --> Journals`, open the journal you
+want to edit, and select a currency in the field :guilabel:`Currency`. If left empty, all active
+currencies are handled instead of just one.
+
+.. image:: multi_currency/journal-currency.png
+   :align: center
+   :alt: Select the currency for the journal to handle.
+
+.. _multi-currency/mca:
+
+Multi-currency accounting
+=========================
+
+.. _multi-currency/mca-documents:
+
+Invoices, bills, and other documents
+------------------------------------
+
+For all documents, you can select the currency and journal to use for the transaction.
+
+.. image:: multi_currency/currency-field.png
+   :align: center
+   :alt: Select the currency and journal to use.
+
+.. _multi-currency/mca-payment:
+
+Payment registration
+--------------------
+
+To register a payment in a currency other than your company's main currency, click on the
+:guilabel:`Register Payment` payment button of your document and, in the pop-up window, select a
+**currency** in the :guilabel:`Amount` field.
+
+.. image:: multi_currency/register-payment.png
+  :align: center
+  :alt: Select the currency and journal to use before registering the payment.
+
+.. _multi-currency/mca-statements:
+
+Bank statements
+---------------
+
+When creating or importing bank statements, the amount is in the company's main currency. To see
+additional fields related to foreign currencies, click on the **columns dropdown button**
+(:guilabel:`⋮`) next to :guilabel:`Amount`, and check :guilabel:`Amount Currency` and
+:guilabel:`Foreign Currency`.
+
+.. image:: multi_currency/foreign-fields.png
+  :align: center
+  :alt: The extra fields related to foreign currencies.
+
+When reconciling, Odoo displays both the foreign currency amount and the equivalent amount in your
+company's main currency.
+
+.. _multi-currency/mca-exch-entries:
+
+Exchange rate journal entries
+-----------------------------
+
+To see **exchange difference journal entries**, go to :menuselection:`Accounting Dashboard -->
+Accounting --> Journals: Miscellaneous`.
+
+.. image:: multi_currency/exchange-journal-currency.png
+   :align: center
+   :alt: Exchange rate journal entry.