Reconcile Outstanding Payment with Invoices, Bills, Credit Notes, Refunds

by
Odoo

58.94

v 14.0 Third Party 6
Availability
Odoo Online
Odoo.sh
On Premise
Odoo Apps Dependencies Invoicing (account)
Discuss (mail)
Lines of code 706
Technical Name reconcile_outstanding_payment_omax
LicenseOPL-1
Websitehttps://www.omaxinformatics.com
Versions 16.0 15.0 14.0 17.0
You bought this module and need support? Click here!
Availability
Odoo Online
Odoo.sh
On Premise
Odoo Apps Dependencies Invoicing (account)
Discuss (mail)
Lines of code 706
Technical Name reconcile_outstanding_payment_omax
LicenseOPL-1
Websitehttps://www.omaxinformatics.com
Versions 16.0 15.0 14.0 17.0

Supported for Community Enterprise Odoo.sh

Reconcile Outstanding Payments

Overview

This Odoo app helps Accountants to do multiple reconcile outstanding Payments against with multiple Invoices, Credit Notes, Bills, Refunds in the same Wizard/Pop Up. It's also allow to reconcile invoices with credit notes and vice versa & Bills with Refunds and vice versa. Accountants can get all needed information in wizard to easily perform reconciliation process.

Features

* Users can Reconcile/adjust multiple Invoices against with multiple Outstanding Payments/Credits in single operation.

* Users can Reconcile/adjust multiple Outstanding Debits against with multiple Customer Credit Notes.

* Multiple Vendor Bills reconcile with Outstanding debits.

* Multiple Refunds reconcile with related Outstanding credits.

* Reconciliation will be in sequence from top to bottom records.

* Selection option available for payments. Only selected payments will reconcile with related records.

* Selection option available for Invoices,bills,credit notes,refunds. Only selected records will reconcile with outstanding payments.

* Option to set Partial amount. Users can change/update To be Paid Amount value in list of Invoices,bills,credit notes,refunds.

* Remaining Amount available of Outstanding Credits/Debits So Users get the idea of the amount that can be used in transactions.
   The bifurcation for outstanding payments like whether it is a Payment or Credit Note or Bill or refund.
   To be Paid Total Amount : it show the total amount that will be reconcile.

How It Works

Access Rights


We have two option to do it.
OPTION - 1 : "Action Reconcile Outstanding Payment" in Invoice List view and invoice Form view.
Let's Add Outstanding credits for invoices.
We have 4 invoices of customer Deco Addict and its total due amount is $10,000. All invoice are posted and it's payment status is Not Pad.


We have received 3 payments from customer Deco Addict as below.


We have 2 customer-credit-note for Deco Addict as below.


Select invoices which need to reconcile with Payments and Credit notes and open a wizard from Action Menu.


Wizard Explanation


Outstanding credits Section:

 Customer Payments and customer credit notes available in the this list. Firstly Customer Payments will set here with sorting by Date and after Credit-Notes will set with sorting by date(Invoice Date field).
 Delete option available if user want to delete a record from the available outstanding credits list.
 User can Hide/Show the cloumns of Date,Reference,Journal,Payment,Credit Note fields.

 Fields Description
 1. Select: Its optional field. If User want to reconcile only selective records, User have option to do that Otherwise Reconciliation will start from very first line, one by one record.
 2. Number: Its number of the Payment or credit note.
 3. Date : Its Date of Payment. Invoice Date if its Credit note.
 4. Reference: It's Memo of customer-payment or its Customer Reference of credit note.
 5. Journal: Name of the related Journal.
 6. Amount: amount of payment or Credit Note.
 7. Remaining Amount: Remaining amount that will be use for the adjustment against the invoices.
 8. Payment: its indicate that this record is a customer payment.
 9. Credit Note: its indicate that this record is a customer credit note.

To be reconcile with below Invoices Section:

 *Selected invoices from the invoice-list-view will visible here. Its sort by Invoice Date.
 * Delete option available if user want to delete a invoice from the To be reconcile with below Invoices Section.
 *User can Hide/Show the cloumns of Reference, Due Date, Untaxed Amount fields.

 Fields Description
 1. Select: Its optional field. If User want to reconcile only selective invoices, User have option to do that Otherwise Reconciliation will start from very first line, one by one record.
 2. Number: Number of invoice.
 3. Reference: Customer Reference of invoice.
 4. Date: Invoice Date of invoice.
 5. Due Date: Due Date of invoice.
 6. Total Amount: Total of invoice.
 7. Amount Due: Due Amount of invoice.
 8.To be Paid Amount: Its Editalble field. Due amount will set by default. User can change the amount here if needed. validation set here if User update greater amount than due amount.
 To be Paid Total Amount: Its sum of To be Paid Amount column. User can get the idea of total amount of invoices that to be reconcile with payments or credit note.

RECONCILE PAYMENT BUTTON: This button will reconcile the payments/credit note to invoices.


CASE: 1
If user want to auto reconcile all records. Here we have not selected any payment or any invoice in this wizard. Outstanding credits (PBNK1/2023/00001,PBNK1/2023/00002,PBNK1/2023/00003,CN-INV/2023/1,CN-INV/2023/2) will reconcile respectively with Invoices (INV/2023/00001,INV/2023/00002,INV/2023/00003,INV/2023/00004).
* PBNK1/2023/00001 $2,200 will reconcile with INV/2023/00001 $1000, INV/2023/00002 $1200
* PBNK1/2023/00002 $3,200 will reconcile with INV/2023/00002 $800, INV/2023/00003 $2400
* PBNK1/2023/00003 $4,300 will reconcile with INV/2023/00003 $600, INV/2023/00004 $3700
* CN-INV/2023/1 $120 will reconcile with INV/2023/00004 $120
* CN-INV/2023/2 $180 will reconcile with INV/2023/00004 $180


Lets RECONCILE PAYMENT and check the result.

All invoice are now PAID and Amount Due is 0.00.

CN-INV/2023/1 and CN-INV/2023/2 are now PAID and Amount Due is 0.00


PBNK1/2023/00001, PBNK1/2023/00002, PBNK1/2023/00003 are now reconciled.



Let's check reconcile result in invoices.

PBNK1/2023/00001 $2,200
reconcile with invoice INV/2023/00001 with $1000.
$2,200 - $1000 = $1200 Remaining Amount

Remaining amount $1200 of PBNK1/2023/00001 reconcile with invoice INV/2023/00002.



PBNK1/2023/00002 $3,200
reconcile with invoice INV/2023/00002 with $800.
$3,200 - $800 = $2400 Remaining Amount

Remaining amount $2400 of PBNK1/2023/00002 reconcile with invoice INV/2023/00003.



PBNK1/2023/00003 $4,300
reconcile with invoice INV/2023/00003 with $600.
$4,300 - $600 = $3700 Remaining Amount

Remaining amount $3700 of PBNK1/2023/00003 reconcile with invoice INV/2023/00004.



CN-INV/2023/1 $120

reconcile with invoice INV/2023/00004 with $120.


CN-INV/2023/2 $180

reconcile with invoice INV/2023/00004 with $180

We can see here all the records performed successfully.


.........................................................................................................................................................................................

Now Lets Check the feature with Case 2.

CASE: 2

Here We will do reconcile with selective Payments to selective Invoices.
With this option, User can select those payments and invoice which needed for reconciliation.


* Payment PBNK1/2023/00004 4,200.00 will be reconcile with Invoices INV/2023/00006 and INV/2023/00008.

Let's check reconcile result in invoices.

PBNK1/2023/00004 4,200.00
reconcile with invoice INV/2023/00006 with $1500.

reconcile with invoice INV/2023/00008 with $2500.



User Validation

We can see here selected records performed successfully.


.................................................................................................................................................................................................

Reconciliation from the Payments
OPTION - 2 : Action "Reconcile Payment" in Payment List view and Payment Form view
Use can also reconcile the payments to invoices from the Payment view.
User Validation

If user select the already reconciled payment,


If user select draft payment,


If user select sent payment for reconcile with customer invoices,


if user select records with multiple payment currency,


If there is not available any invoice to reconcile,


Lets RECONCILE PAYMENT and check the result.


PBNK1/2023/00004 Remaining Amount is 200 because 4000 amount already reconcile with INV/2023/00006 and INV/2023/00008.

* PBNK1/2023/00005 $1250 will reconcile with INV/2023/00007 $1250
* PBNK1/2023/00006 $550 will reconcile with INV/2023/00007 $550
* PBNK1/2023/00004 $100 will reconcile with INV/2023/00007 $100
Total amount of $1900 will reconcile as we select only invoice INV/2023/00007 and also change-edit the Paid Amount 1900 in the wizard.
Note: INV/2023/00007 due amount is 2000.

Let's check Payments.


Let's check reconcile result in invoice INV/2023/00007.


We can see here selected records performed successfully.



Action Reconcile Outstanding Payment in CREDIT NOTE

Wizard will looks like below screenshot.



Action Reconcile Outstanding Payment in VENDOR BILLS

Wizard will looks like below screenshot.



Action Reconcile Outstanding Payment in REFUNDS

Wizard will looks like below screenshot.



Free Support

    You will get 100 Days free support incase any bugs or issue (Except data recovery).

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