Odoo Accounting Features List
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General Ledger and Configurable Accounting Features
Financial management solution, including capabilities for general ledger and configurable accounting
- Supported:Accounts payable
This includes the automation and tracking of payment to vendors and suppliers, with features such as payment scheduling, check printing, open purchase order alerts, document management, direct ACH bill payment, and vendor records.
- Supported:Accounts receivable
This includes the management and automation of invoices and collections, with features like statements, invoices, receipts, payment reminders, customer records, auto billing, and refund checks.
- Supported:Global Financial Support
Account using multiple ledgers, multiple currencies, and multiple entities
- Supported:Primary and Secondary Ledgers
Record and report across multiple currencies and accounting standards with primary and secondary ledgers
- Supported:Journals and Reconciliations
Automate and synchronize ledgers and processes
- Supported:Configurable Accounting
Configure accounting rules and segments for each chart of accounts
- Supported:Standardized Processes
Centralize financial management to facilitate standardized financial processes
Subledger and Financial Process Features
Revenue management solution including capabilities for subledgers and financial processes
- Supported:Billing Management
Access role-based billing work area, perform discrete and recurring billing
- Supported:Revenue Recognition
Comply with ASC 606 / IFRS 15 by applying standard's 5 steps to customer sales contracts
- Supported:Cash and Asset Management
Manage liquidity and cash requirements, asset transfers, disposals, reclassifications, and financial adjustments
- Supported:Travel & Expense Management
Enter expenses from mobile devices, integrate credit card and travel booking, configure policy enforcement
- Supported:Budgetary Control & Encumbrance Accounting
Control spending at any budget level or time interval
- Supported:Period Close
Sustain fast close with integrated subledgers, intuitive dashboards, embedded collaboration
Inventory Management Features
The ability to track and manage the flow of goods or materials into and out of an inventory.
- Supported:Inventory tracking
The software syncs orders and stock to maintain a real-time picture of inventory and supports multiple methods such as LIFO and FIFO.
- Supported:Automatic reordering
The software can be set up to automatically reorder a good when it falls below a certain threshold.
- Supported:Location management
The software can track multiple goods across multiple locations.
Order Management Features
The ability to process orders, and track them from quote to cash.
Users can set up complex and unique pricing requirements.
- Supported:Order entry
Users can enter an order once, and the data flows to all the necessary units such as fulfillment and billing.
- Supported:Credit card processing
The software facilitates credit card processing.
- Supported:Cost of goods sold
The software calculates the direct costs attributable to a finished product, such as materials and labor, and includes roll-up pricing.
- Supported:Order Orchestration
Define and execute order fulfillment processes for products as well as services on the same order.
Payroll Management Features
Provides for pay calculation and benefit plan administration, in addition to managing direct deposit, salary revisions and payroll tracking.
- Supported:Pay calculation
Pay calculation provides for computation of employee pay with state and federal deductions.
- Supported:Benefit plan administration
Benefit plan administration is administration of health insurance plans and 401k plans, and other benefits.
- Supported:Direct deposit files
Direct deposit is the ability to electronically transfer pay to an employee’s personal bank account.
Reporting & Analytics Features
Users can report on and analyze usage, performance, ROI, and/or other metrics of success.
Users can create, customize and share dashboards, which provide an overview of the most important metrics.
- Supported:Standard reports
The software offers pre-built reports with metrics standard to the category.
- Supported:Custom reports
Users can create custom reports.
This addresses a company’s ability to configure the software to fit its specific use case and workflow.
- Supported:API for custom integration
An API (application programming interface) provides a standard programming interface for connecting third-party systems to the software for data creation, access, updating and/or deletion.
A number of third-party plug-ins are available to expand the core functionality of the software.
This component helps a company minimize the security risks by controlling access to the software and its data, and encouraging best practices among users.
- Supported:Role-based user permissions
Permissions to perform actions or access or modify data are assigned to roles, which are then assigned to users, reducing complexity of administration.
- Supported:Single sign-on capability
The software system supports a centralized authentication mechanism allowing the user to access multiple systems with a single, centrally managed password.
- Supported:Multi-factor authentication
- Supported:User-level audit trail
User-level audit trail
Grants Management Features
Grants management solution for higher education, public sector, or non-profits with capabilities for managing financial awards for program and project funding
- Supported:Award Lifecycle Management
Manage the life of program funding awards from initial funding to close-out
- Supported:Spending Control
Track spending, control cost charges, and identify budget overspend
- Supported:Indirect Cost Management
Apply and report on indirect costs
Project Financial Management Features
Project financial management solution including capabilities for project budgeting, cost control, billing and contract management.
- Supported:Budgeting and Forecasting
Establish project budgets and forecast future project financials
- Supported:Project Costing
Standardize, track, and control costs at all project phases
- Supported:Cost Capture
Capture costs including those for procurement, financials or time and labor, including from external systems
- Supported:Capital Project Management
Track and manage capital asset costs
- Supported:Customer Contract Compliance
Associate projects or tasks with customer contracts, and lines within contracts, to meet billing terms
- Supported:Project Revenue Recognition
Recognize project contract revenue in line with accounting policies and regulations
Project Execution Management Features
Project execution management solution including capabilities for project scheduling, resource management, and team member task management.
- Supported:Project Planning and Scheduling
Interactive Gantt chart for establishing tasks, duration, and delivery schedule
- Supported:Task Insight for Project Managers
Project manager visibility into task progress of team members
- Supported:Project Mobile Functionality
Capabilities for project functions such as updating and monitoring task progress and time cards from mobile devices
- Supported:Project Candidate Search
Search for potential project resources by key criteria including skills, availability, and location
- Supported:Definable Resource Pools
Definable and hierarchical resource pools of potential project resources
- Supported:Talent Profiles
Global employee profiles for skills and competencies leveraging HR data
- Supported:Absence Management
Tracking and accounting for employee absence across project resource responsibilities leveraging HR data
Procurement management solution with capabilities for sourcing, contracting, procure-to-pay and supplier management
- Supported:Bids Analyzed and Compared
Evaluate, compare and recommend across multiple bids in real-time using diverse user selected criteria and graphical analytics
- Supported:Catalog Shopping E-Commerce for Employees
Searchable, browsable catalog for employees to shop for goods and services through a consumer e-commerce look and feel display
- Supported:Contract Authoring
Document authoring with guided navigation, negotiation templates and productivity tools for reviews and collaboration
- Supported:Contract Repository
Secure and searchable contract repository leveraging standard company language components, structures and formats
- Supported:Requisitions-to-Purchase Orders Integrated
Create touchless purchases using purchase orders generated automatically per rules from approved requisitions
- Supported:Supplier Management
Broadly manage and report comprehensive supplier profiles, capabilities and performance; identify bottlenecks; balance allocations, workloads
- Supported:Contract Renewal Automation
Set contracts to automatically renew driven by performance parameters
Risk Management Features
Risk management solution with capabilities for managing controls, assessing control effectiveness, certifying controls, and addressing deficiencies
- Supported:Risk Repository
Identity, document, and manage business risks in a unified repository
- Supported:Control Management
Establish and update risk and controls matrix, control test plans, and instructions
- Supported:Control Efficiency Assessments
Assess control effectiveness on criteria such as geography, business unit, compliance requirements, etc
- Supported:Issue Detection
Detect and create issues as part of the assessment flow
- Supported:Remediation and Certification
Create and update remediation plans and certify controls
Logistics solution with capabilities for transportation planning, transportation execution, trade compliance, customs management, warehouse management and warehouse workforce management.
- Supported:Transportation Planning and Optimization
Plan shipments across all modes of transportation via lowest costs/highest service
- Supported:Transportation Execution Management
Execute and track shipping orders
- Supported:Trade and Customs Management
Manage duties, tax rates, customs documents, and other data required for products shipped in and to specified countries
- Supported:Fulfillment Management
Support for multi-channel demand and execution fulfillment processes
- Supported:Warehouse Workforce Management
Set goals, measure actuals, and analyze productivity for warehousing tasks and activities
Manufacturing solution for managing manufacturing processes and costs.
- Supported:Production Process Design
Define data for plant hierarchy, process standards, work areas, calendars and standard operations
- Supported:Production Management
Centralized critical status information for production supervisors
- Supported:Configuration Management
Capture and process customer configuration orders
- Supported:Work Execution
Monitor procution status, manage work orders for standard and non-standard production, enforce tight controls on serialized products
- Supported:Manufacturing Costs
Estimate, plan and monitor costs and variances by plant. Capture resource costs using standard, actual, LIFO, FIFO or multiple costing methods.
Supply Chain Features
Supply Chain Planning solution with capabilities for planning, performance monitoring, change responses and execution.
Statistically forecast based on historical patterns and sales input, monitor accuracy and estimate new demand
- Supported:Inventory Planning
Establish projected inventory levels, monitor actual levels and compare with projected levels
- Supported:Performance Monitoring
Analyze business metrics and compare actual performance to plans, identify issues, prioritize demands and respond to changes
Product Lifecycle Management Features
Product Lifecycle Management solution with capabilities for innovation management, product development
- Supported:Proposal Management
Capture budget, resource, and benefit expectations for proposals
- Supported:Product Master Data Management
Create, classify, and manage product items, BOMs and product changes
Supported:Business Instant Messaging
Supported:Product & Price List Management
Supported:Point of Sale