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By: Antony Francis

Bank Reconciliation in Odoo 13

Functional Odoo 13 Sales

What is bank reconciliation? It is the process of matching the cash account information of an individual with the details in the bank. The main purpose of the bank reconciliation is to compare them both and check if there is any difference between the two. And in case there is any difference, reconcile it, so that the accounting is carried in the proper manner. In a business, all the cash transactions will be recorded in the bank. We have to match it with the cash account so that everything is synced. The reconciliation must be done frequently so as to make company accounts clearer and transparent.

But as we said it is not that easy to make reconciliation with the bank. We need to have all the invoices and all the details of the payments. We must be very careful in doing reconciliation because a small mistake can cause a great loss.

But Odoo 13 enables us to have bank reconciliation in an easy way without much hardship.


We have two formats of reconciliation in Odoo 13

    * By register payment of invoices

    * Reconciling open invoices with bank


We can see each of the cases.

    * Payment registration


First of all, we shall install the accounting module.


In the first case of reconciliation, there are no reconciliation methods, just doing the register payment of the invoice. While registering the payment automatically it is reconciled with the bank.


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Here we can see a sale of $14 is made to the customer. The customer received the goods along with the invoice of $14. Since the products are received, the customer is supposed to pay the amount. 


When clicking on the “register payment”,  a popup window will appear. There we can pay the invoice by clicking the “validate” button.


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To see the payment back and see whether the payment is reconciled click on the “i” button beside the paid invoice.


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From here we shall know the amount is paid and reconciled.

    * Bank statement reconciliation case


Bank reconciliation through bank statements shall be shown with examples.


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Here we can see the customer Deco Addict has paid 750. The invoice is posted but not reconciled with the bank.

Now we shall create a bank statement. For that in the accounting overview under the bank, we shall create the bank statement.


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Clicking on the create button we shall create the bank statement. There we shall fill the invoice details which we want to reconcile. Then click the “Reconcile” button.


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We also have an alternative way to create a bank statement for reconciliation. Just we need to click on the button “Reconcile”.


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Then all the payments that have to be reconciled will appear. We need to just validate it.


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When we click the “validate” button everything will be reconciled.


We also have to set the reconciliation models before making reconciliations. For that go to configuration > reconciliation models. There we can create reconciliations.


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So this is how we create reconciliation models.

This is how bank reconciliation works in Odoo 13 accounting.


Watch Video to know more about Odoo Reconciliation Model




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