| Availability |
Odoo Online
Odoo.sh
On Premise
|
| Odoo Apps Dependencies |
•
Accounting (account_accountant)
• Invoicing (account) • Discuss (mail) |
| Lines of code | 115 |
| Technical Name |
fal_bank_reconciliation_models |
| License | OPL-1 |
| Website | https://cluedoo.com/ |
| Availability |
Odoo Online
Odoo.sh
On Premise
|
| Odoo Apps Dependencies |
•
Accounting (account_accountant)
• Invoicing (account) • Discuss (mail) |
| Lines of code | 115 |
| Technical Name |
fal_bank_reconciliation_models |
| License | OPL-1 |
| Website | https://cluedoo.com/ |
STORY BEHIND THE FEATURE
ODOO'S FUNCTIONS
In traditional accounting systems of Odoo, reconciliation into set counterpart journal typically takes place solely when the paid amount is less than the journal entry amount. Meanwhile, with payments exceeding the journal entry amount, the difference is pushed to open balance, resulting in inaccurate and unorganized bank reconciliations.
CLUEDOO'S FUNCTIONS
Cluedoo offers a feature that provides users with unparalleled flexibility in reconciliation processes. With Cluedoo, users can not only reconcile discrepancies into set counterpart entries when the paid amount is less than the entry amount but also specify acceptable deviations. For instance, users can set a range of acceptance, such as -10⬠to +10â¬, allowing for adjustments within this range to account for rounding issues, especially related to VAT calculations. This functionality addresses common challenges in accounting reconciliation, providing users with greater control and precision in financial management processes.
CLUEDOO RECOMMENDATION
Install this template in 100% of your databases as a useful tool for accurate bank reconciliation and journal entries.
HOW TO USE THIS MODULE
1.
Go to Accounting > Configuration > Reconciliation Models, then select the "Invoices/Bills Perfect Match" rule.
Within this rule, users can set payment tolerance to accommodate underpayments (-) or overpayments (+), either in specified amounts or percentages.
In the "Counterpart Entries" tab, users can specify a designated account where any difference amounts will be recorded.
2.
In this example, we will reconcile a posted invoice with total amount of 169.05$.
Go to Accounting -> Dashboard ->Â In "Bank reconciliation" section, create a new transaction to reconcile the chosen invoice.
Assuming we have an overpayment of 175.05$ (6$ difference), enter a transaction of $175.05 and include details related to the chosen invoice.
Save & Close.
3.
In the Accounting dashboard, under the "Bank Reconciliation" section, select "Reconcile Items."
A new transaction for the specified invoice will be generated, incorporating the $6 difference, which will then be recorded in the designated counterpart entries.
Users can either validate this reconciliation by clicking on "Validate" button, or
âGo to Accounting > Configuration > Reconciliation Models > "Invoices/Bills Perfect Match" rule, select "Run manually".
All transactions adhering to this rule will be automatically validated.
Odoo Proprietary License v1.0 This software and associated files (the "Software") may only be used (executed, modified, executed after modifications) if you have purchased a valid license from the authors, typically via Odoo Apps, or if you have received a written agreement from the authors of the Software (see the COPYRIGHT file). You may develop Odoo modules that use the Software as a library (typically by depending on it, importing it and using its resources), but without copying any source code or material from the Software. You may distribute those modules under the license of your choice, provided that this license is compatible with the terms of the Odoo Proprietary License (For example: LGPL, MIT, or proprietary licenses similar to this one). It is forbidden to publish, distribute, sublicense, or sell copies of the Software or modified copies of the Software. The above copyright notice and this permission notice must be included in all copies or substantial portions of the Software. THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.
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