Managing Cash Transfer Limits in Odoo

Restricting Cash Transfers in Odoo

Enhancing Financial Control with Cash Transfer Limits in Odoo

Preventing Overspending: Cash Transfer Limits in Odoo

Odoo Cash Management: Set User Based, Daily, Weekly, and Monthly Limits

Preventing Excessive Cash Transfers: User & Duration-Based Limits in Odoo

This module introduces a comprehensive cash transfer limit system for Odoo, focusing on controlling cash transfers based on predefined user-specific, time-based limits (daily, weekly, and monthly). It enhances the security and compliance of cash management by integrating an approval process for transfers that exceed defined limits. Users can submit requests for manager approval, and once approved, the system processes the payment. Administrators can also manage the approval flow and override limits when necessary. Additionally, notifications and alerts are triggered to keep both users and managers informed.

Main Features:

• User-Specific Cash Transfer Limits:
  • This feature allows each user to have a customized cash transfer limit based on their individual requirements.
  • These limits ensure that users cannot transfer more cash than whats allowed, providing an extra layer of security and control over cash flow.
  • Admins can override the limits when necessary, ensuring flexibility during emergencies.
• Time-Based Cash Transfer Limits:
  • You can configure cash transfer limits that reset on a daily, weekly, or monthly basis.
  • This means that users are only allowed to transfer a specific amount within a set time frame. For example, you can set a daily transfer limit that resets every 24 hours, a weekly limit that refreshes every 7 days, or a monthly limit that resets at the start of each month.
  • These time-based limits make it easier to control cash flow and prevent large, unapproved transactions.
• Manager Approval Workflow:
  • For transfers that exceed the set limits, a manager approval workflow is triggered.
  • If a user tries to exceed their allowed transfer amount, they must submit a request for approval.
  • The system automatically notifies the manager, who can then approve or reject the transfer.
  • This feature ensures that high-risk or large transactions are carefully reviewed, adding a layer of security and accountability before processing.
• Cash Reconciliation:
  • The system ensures that only transfers within the approved limits are processed by verifying the users eligibility before bank reconciliations take place.
  • This feature prevents discrepancies between recorded payments and actual bank statements, making financial reconciliation more efficient and accurate.
• Notifications and Alerts:
  • This module keeps both users and managers informed through real-time notifications by mail as shown.
  • Users receive alerts when they are close to reaching their transfer limit, while managers are notified whenever approval is required for a transaction.
  • These notifications help everyone stay up-to-date and prevent any surprises during cash transfers.
  • With email notifications, users and managers are kept informed of the current status of payment requests.
• Admin Override Capability:
  • Admins have the ability to temporarily override cash transfer limits in exceptional circumstances.
  • This provides flexibility in case of emergencies or urgent business needs while maintaining overall control over financial transactions.
• Chatter Logs for Transparency:
  • All actions related to cash transfers, such as approvals, rejections, and limit changes, are logged in an odoo chatter.
  • This ensures transparency and accountability, making it easy to track the history of each transfer and approval process.

Workflow:

• Setting User-Specific Cash Transfer Limits:
  • The system administrator assigns a transfer limit to each user.
  • Each users maximum allowable transfer amount is set based on their role or needs.
• Time-Based Transfer Limits Configuration:
  • The admin configures the time-based transfer limits (daily, weekly, and monthly) within the account.journal model.
  • These limits help control the amount of cash transferred over various periods, preventing fraudulent or unauthorized large transactions.
• Transfer Requests & Approvals:
  • User Initiates a Payment: A user tries to make a cash transfer.
  • Limit Validation: The system checks if the user has exceeded their daily, weekly, or monthly limit.
  • Approval Request: If the limit is exceeded, a "Request Manager Approval" button appears, allowing the user to submit the payment request for manager approval.
  • Manager Approval: The manager receives an email notification with the approval request and can approve or reject the transaction.
  • Payment Confirmation: Upon approval, the system processes the payment, and the user can finalize the transfer.
• Reconciliation of Bank Statements:
  • The user eligibility for making transfers is checked before reconciling the internal transactions with bank statements.
  • Only approved payments that are within the allowed transfer limits are reconciled with the cash, ensuring that all transactions are within legal and financial compliance.

Cash Administrator Group Access Control

• Any user who has access to the group does not have cash transaction limit restrictions. These users can carry out cash transactions without any interruptions or disturbances.

User Cash Transfer Limit Configuration

• The maximum amount a user is allowed to transfer in a cash journal. Users will not be able to perform payments exceeding this set limit.

Configure Daily, Weekly, and Monthly Transfer Limits in Journals

• Daily Cash Transfer Limit:
• Restricts the maximum amount a user can transfer in a single day.
• Example: If the daily limit is set to $100,000, the user cannot transfer more than this amount in 24 hours.
• Once the limit is reached, further transfers are blocked or require admin approval.
• Weekly Cash Transfer Limit:
• Defines the maximum transfer amount allowed over a 7-day period.
• Example: A business sets a weekly limit of $250,000, once this limit is reached, no more transfers can be made until the next week starts.
• Monthly Cash Transfer Limit:
• Sets the maximum cash transfer amount for a calendar month.
• Example: If an organization sets a $500,000monthly limit, users cannot exceed this threshold in total transfers for the month.

Payments Menu under Vendors (Odoo Standard)

Payment Approval Approved Process

Confirm Your Payment via the Button (Odoo Standard)

• You can confirm your payment by clicking this button.

Show User Cash Transfer Limit Exceeded Alert Message

• This message appears when youre trying to make a cash transfer, and the amount exceeds your individual cash transfer limit, which is set at 50,000. When this happens, the system will show a warning message like this, asking you to request manager approval.
• To proceed, you can click the "Submit Cash Limit Request" button to get approval from the manager.

Submit Cash Limit Request Button in Payment Form

• This button sends a payment request for cash limit approval to the designated Cash Limit Approval Manager, as configured in your journal settings.

Send Approval Email and Post in Chatter

Confirm Your Payment via the Button (Odoo Standard)

Show Manager Approval Pending Alert Message

• This message appears when youre trying to post a payment, but the payment hasnt been approved by the manager yet. It means that the required approval process is still pending, and the payment cannot be processed until the manager has approved it.

Payments to Approve Menu Inside of Vendors

Approve and Reject Button on Payment Form

Click to Approve Button

• This button approves your payment request and sends an approval email to the request creator. It is only visible to the designated Cash Limit Approval Manager, as configured in your journal settings.

Send Approve Mail and Post in Chatter

Confirm Your Payment via the Button (Odoo Standard)

Show Amount Change Restriction Alert Message

• This message appears when youre trying to make a payment or transfer with an amount that doesnt match the amount that the manager had previously approved. Once the amount is approved by the manager, it cannot be changed.

Confirm Your Payment via the Button (Odoo Standard)

Payment Moved to "In Process" Stage

Payment Approval Rejection Process

Confirm Your Payment via the Button (Odoo Standard)

Show Daily Cash Transfer Limit Exceeded Alert Message

• This message appears when youre trying to process a payment that exceeds the journals daily cash transfer limit, which is set at 100,000. The system is preventing the transaction from going through to ensure it doesnt surpass the limit.
• To proceed, you can click the "Submit Cash Limit Request" button to request manager approval for the higher amount. The manager can review and approve the request, allowing the payment to be processed.

Submit Cash Limit Request Button in Payment Form

• This button sends a payment request for cash limit approval to the designated Cash Limit Approval Manager, as configured in your journal settings.

Send Approval Email and Post in Chatter

Click to Reject Button

• This button rejects your payment request and sends a rejection email to the request creator. It is only visible to the designated Cash Limit Approval Manager, as configured in your journal settings.

Send Rejection Mail and Post in Chatter

Confirm Your Payment via the Button (Odoo Standard)

Show Disapproved Payment Alert Message

• This message appears when a payment you are trying to post has been rejected or disapproved by the manager. The manager has reviewed the transaction and decided not to approve it.

Show Weekly Cash Transfer Limit Exceeded Alert Message

• This message appears when youre trying to process a payment that exceeds the journals weekly cash transfer limit, which is set at 250,000. The system is preventing the transaction from going through to ensure it doesnt surpass the weekly limit.
• To proceed, you can click the "Submit Cash Limit Request" button to request manager approval for the higher amount. The manager can review and approve the request, allowing the payment to be processed.

Show Monthly Cash Transfer Limit Exceeded Alert Message

• This message appears when youre trying to process a payment that exceeds the journals monthly cash transfer limit, which is set at 500,000. The system is preventing the transaction from going through to ensure it doesnt exceed the monthly limit.
• To proceed, you can click the "Submit Cash Limit Request" button to request manager approval for the higher amount. If the manager approves, the payment can be processed.

Show Approval Manager Not Assigned Alert Message

• This message appears when youre trying to process a payment, but no payment approval manager has been assigned to the journal. Without an assigned manager, the system cannot proceed with the approval process.
• To resolve this, you need to contact your administrator to assign a payment approval manager to the journal so that payments can be processed.

View Models Menu Inside of Bank Reconciliation View (Odoo Standard)

Is Internal Transfers Field on Reconciliation Models Form View

Transactions Button (Odoo Standard)

Create New Reconcile Entry (Odoo Standard)

Click Internal Transfers Button (Odoo Standard)

Show User Cash Transfer Limit Exceeded Alert Message

• This message appears when youre trying to make a cash transfer, and the amount exceeds your individual cash transfer limit, which is set at 50,000. When this happens, the system will show a warning message like this, asking you to request manager approval.

Click Internal Transfers Button (Odoo Standard)

Show Daily Cash Transfer Limit Exceeded Alert Message

• This message appears when youre trying to process a payment that exceeds the journals daily cash transfer limit, which is set at 100,000. The system is preventing the transaction from going through to ensure it doesnt surpass the limit.

Contact / Support
Introducing Probuse Consulting Services Pvt. Ltd.

If you need any help or want more additional features, you may contact us through:
Email: contact@probuse.com
Website: www.probuse.com
Skype: mustufa_probuse