| Availability |
Odoo Online
Odoo.sh
On Premise
|
| Odoo Apps Dependencies |
•
Invoicing (account)
• Purchase (purchase) • Discuss (mail) |
| Lines of code | 1433 |
| Technical Name |
iou_advance_payment |
| License | AGPL-3 |
| Website | https://brainstation-23.com |
| Availability |
Odoo Online
Odoo.sh
On Premise
|
| Odoo Apps Dependencies |
•
Invoicing (account)
• Purchase (purchase) • Discuss (mail) |
| Lines of code | 1433 |
| Technical Name |
iou_advance_payment |
| License | AGPL-3 |
| Website | https://brainstation-23.com |
IOU Advance Payment
Seamless Employee Cash Advance Management
Overview
The IOU Advance Payment module simplifies the process of managing employee cash advances (IOUs) by providing a complete workflow from request submission to payment posting and accounting entries. Employees can request advances for official purposes such as site visits, travel, or emergency expenses. Managers can review and approve requests, after which the system automatically generates an advance payment and posts accurate journal entries to prepayment accounts.
Screenshots
IOU Request Form
Approval Workflow
Advance Payment
Journal Entry Form
Journal with Debit and Credit
Key Features
📋 IOU Request Management
Create and manage IOU requests with amount, purpose, required date, and expected settlement date.
✅ Approval Workflow
Multi-stage workflow: Draft → Submitted → Approved → Paid with approve, reject, and reset actions.
💰 Automatic Advance Payment
Automatically generates advance payments upon IOU approval with correct vendor and journal settings.
🏷️ Advance Payment Flag
Special flag to distinguish IOU advances from regular vendor payments.
📊 Accurate Accounting Entries
Posts journal entries to Prepayment accounts instead of expense accounts.
🏦 Bank & Cash Integration
Supports bank and cash journals with manual or configured payment methods.
📝 Full Audit Trail
All actions are logged in the chatter including approvals, payments, and journal postings.
🔗 Smart Navigation
Smart buttons to quickly navigate between IOU requests, payments, and journal entries.
Functionality
IOU Request Creation
- Create IOU requests with amount and purpose
- Set required date and expected settlement date
- Link to employee as vendor
- Define payment journal (bank or cash)
- Submit request for approval
Approval & Payment Process
- Manager reviews and approves IOU requests
- System automatically creates advance payment
- Payment posts to prepayment account (not expense)
- Advance payment flag distinguishes from regular payments
- IOU status updated to Paid
Accounting Integration
- Automatic journal entry generation
- Debit to Prepayment account
- Credit to Bank/Cash account
- Full accounting trail maintained
- Smart buttons for easy navigation
Management & Reporting
- List view of all IOU requests
- Filter by status, employee, date
- Track pending and paid advances
- Chatter logs for complete audit trail
Configuration
After installation, configure the module through:
- Ensure employees are set up as vendors in the system
- Configure prepayment account in chart of accounts
- Set up bank and cash journals for payments
- Grant appropriate user access rights
Usage Workflow
- Create IOU Request: Employee creates an IOU request with amount and purpose
- Submit for Approval: Request is submitted to manager
- Manager Approval: Manager reviews and approves the IOU
- Automatic Payment: System generates advance payment automatically
- Journal Entry: Accounting entries posted to prepayment account
- Status Update: IOU status changes to Paid
- Settlement: Employee settles the IOU with actual expenses
Technical Information
- Version: 18.0.1.0.0
- Category: Accounting/Accounting
- License: LGPL-3
- Author: Brain Station 23 PLC.
- Dependencies: account, hr
- Application: Yes
Contact & Support
For support, sales, or any other inquiries, please contact us.
Bangladesh
8th Floor, 2 Bir Uttam AK Khandakar Road,
Mohakhali C/A, Dhaka 1212
+880 1719-304086
Please log in to comment on this module