Chat of Account

Shows the Indian Chart of Accounts with the "Tally-wise Reporting" flag. This allows users to precisely control which accounts appear in specific sections of the Tally-style P&L report.

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Profit and Loss

Here, you can see the Profit and Loss Statement before any purchase transactions have been recorded. The report clearly displays Opening Stock, Gross Profit, Closing Stock, and Net Profit, enabling Indian accountants to review financial statements in a format that closely mirrors the familiar Tally presentation. This ensures a smooth transition and greater ease of interpretation for users accustomed to Tally's reporting structure.

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Product Category

Navigate to Product Categories and configure the following inventory settings:
- Inventory Valuation: Automated (Real-Time)
- Costing Method: Average Cost (AVCO)
These settings ensure that inventory transactions are recorded in real time and that stock values are calculated using the average cost method, resulting in accurate inventory valuation, cost tracking, and financial reporting. This configuration is essential for maintaining reliable stock and accounting records.

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Product

Create a new product or open an existing one, and assign it to the Product Category that has been configured with Automated (Real-Time) Inventory Valuation and Average Cost (AVCO). By linking the product to this category, all stock movements and valuation entries will be processed automatically, ensuring accurate inventory tracking and financial reporting.

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Purchase Order Confirm

Create a Purchase Order for the configured product, then review the order details and click Confirm. Once the purchase order is confirmed, Odoo will automatically process the inventory valuation and accounting entries based on the product category settings, ensuring accurate stock valuation and financial reporting.

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Receipt Validate

Now open the corresponding Purchase Receipt generated from the purchase order and click Validate. Once the receipt is validated, the products will be added to inventory, and Odoo will automatically create the necessary stock valuation entries based on the configured Automated (Real-Time) Inventory Valuation and Average Cost (AVCO) settings. This ensures that inventory quantities and accounting records are updated accurately in real time.

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Stock Valuation Journal Entry

Here, you can see the Stock Valuation Journal Entry that was automatically generated when the purchase receipt was validated. The inventory value of ₹10,000 has been posted by debiting the Inventories account and crediting the Closing Stock account. This confirms that the module is correctly identifying and mapping the Closing Stock account according to the configured Tally-style accounting logic, ensuring accurate inventory valuation and financial reporting.

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Bill Validate

Next, create and confirm the Vendor Bill associated with the purchase order. Once the bill is confirmed (posted), Odoo will generate the corresponding accounting entries for the purchase transaction. This step records the liability toward the vendor and completes the financial impact of the purchase process, ensuring that both inventory valuation and purchase accounting are accurately reflected in the books.

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Profit and Loss after Bill

Here, you can see the Profit and Loss Report after the Vendor Bill has been confirmed and posted. The report now correctly reflects the Closing Stock value of ₹10,000, which has been automatically carried forward from the inventory valuation entries. As a result, the Net Profit is also displayed as ₹10,000. This demonstrates that the module successfully integrates inventory valuation with the Profit and Loss statement, presenting financial data in a Tally-style format that is familiar to Indian accountants and ensures accurate financial reporting.

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Sale Order Confirm

Now, create a Sales Order for the configured product and review the order details. Once everything is verified, click Confirm to validate the sales order.

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Delivery Validate

Now open the Delivery Order generated from the sales order and click Validate.
Once validated, the system will confirm that the products have been delivered to the customer and will automatically post the necessary stock moves. This step reduces the inventory quantity and updates the stock valuation in real time, ensuring that both inventory and accounting records remain accurate and synchronized based on the configured valuation method.

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Invoice Confirm

Now create the Customer Invoice from the confirmed sales order and verify all details carefully. Once reviewed, click Confirm (Post) to validate the invoice.
After posting, Odoo will generate the corresponding accounting entries, recording the revenue and receivable amounts. This step completes the sales cycle by ensuring that the delivery, invoicing, and accounting records are fully synchronized, providing accurate financial reporting based on the configured inventory and valuation settings.

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Profit and Loss after Invoice

Here, you can see that after confirming the Customer Invoice, the Profit and Loss Statement is updated accordingly. The report now reflects the impact of the sales transaction, showing Income, Expenses, Closing Stock, and Net Profit values. This confirms that the system is correctly integrating sales, inventory valuation, and accounting entries, and the financial statements are being updated in real time based on the posted invoice.

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