Bank Reconciliation Model
by CLuedoo https://www.cluedoo.com/shop/lic-clu-set-invc-0027-bank-reconciliation-models-extend-to-over-paid-6278$ 197.15
| 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://www.cluedoo.com/shop/lic-clu-set-invc-0027-bank-reconciliation-models-extend-to-over-paid-6278 |
| Versions | 17.0 18.0 |
| 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://www.cluedoo.com/shop/lic-clu-set-invc-0027-bank-reconciliation-models-extend-to-over-paid-6278 |
| Versions | 17.0 18.0 |
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.
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