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By: Manu menonn

How to Link and Setup Bank Account with Odoo 15 Accounting

Odoo 15

It is important to have a detailed overview of your bank account and transactions at all times. With Odoo, you can easily manage and have an explicit overview of your bank transactions and other essential details. You can easily manage and overview multiple bank accounts easily with Odoo so that you don’t miss out on any Transactions. 

This blog will give you an idea of how to link and set up your Bank Account with the  Odoo 15 Accounting module

Odoo 15 Accounting module is equipped with advanced features and tools for efficiently and effortlessly managing complex banking procedures. You can easily configure the details on Odoo. 

From the Dashboard of the Accounting, the module goes to the configuration tab, and under the drop-down option go to the Bank section as shown below. 


Click on Add a Bank Account from the option to add your bank account to Odoo. A Configuration tab to set up your bank detail will open as shown below.


Scroll down to see more banks. If your Bank is in the List click on it and then use the CONNECT button to connect to the selected Bank. Another configuration tab will open up as shown below to configure the Bank details. 

If you cannot find your Bank in the List then Create and Add it to Odoo. To do this go to the Bottom of the Configuration tab and click on the ‘Create it’ button as shown below


In the module click on the Create it button and a configuration page for creating and adding your bank and account to Odoo will open up as shown below.


Enter your Bank Account number and In the Bank section Type in the name of your bank and if your bank is not on the list then a create and Edit button will appear as shown below.


Click on it and a Configuration tab will open up as shown below


Enter the Name of your Bank in the Name field and the Unique Bank Identification Code. Add the ABM code and the Bank Address along with the Phone number and Email. After the configuration click on the SAVE button and the Bank will be saved with Odoo for advanced accounting management. Similarly, you can add any number of Bank accounts to Odoo.

Cash register management

The cash register is a Journal for entering records about receiving and payment transactions. It will help to calculate the total money in both ways, calculating the total values. 

To configure this feature go to your accounting module and then to Journals from the Configuration tab.


In the Journal tab, you can configure the Default Debit Account and the Default Credit Account. And you can configure the currency in the Journal as well. 

Using the Feature

To register cash payments you have to go to your Accounting module and form the Dashboard go to Cash and Register transactions. Give the details on the start and ending balance. Then register the transactions specifying the customers that are linked to the transaction. 

Foreign currency and Banking in Odoo

Odoo is equipped with an advanced Multi-currency Feature that allows you to easily manage your business with Foreign money transactions. Odoo by default stores the Currency details of the Company based on the default currency of the company and if you are running a company abroad then Odoo will store the value of the currency of the respective country and also in the default company currency.

To activate the multi-currency feature go to the Currencies under settings in the Configuration tab of your Accounting module as shown in the screenshot given below.


Click on Allow multi-currency options and provide a Currency Exchange gain or loss account and then click on Apply. 

Configuring currencies is extremely easy in Odoo. You can easily set up and configure the feature. Go to Currencies under the configuration tab. All of the currencies in the system are created by default but you have to activate the currencies that you like to support. After the Configuration of the currencies that updates on the rates and other such essential details on the currencies can be configured for ease of use. 

Create and manage bank accounts with foreign currency 

For configuring a new bank account in the Odoo Account module you can go to the Accounting or Bank Account under Configuration from your Accounting dashboard and create a new one as shown in the screenshot given below 


You don't have to worry about the Documents and the Odoo system will automatically create the documents for you. After the procedure, the system will take care of everything all you have to do is type in the billing details, and once the bill is ready to be paid click on Register payment to record a payment as shown in the screenshot given below.


Which will take you to a tab as shown in the screenshot given below


And validate the bill, that’s all you have to do in this process and the rest of the procedures are automated with Odoo. Odoo will automatically analyze the foreign exchange rates and reconcile the information on the payments according to the rates of the currencies. With the up-to-date information on the currencies, Odoo can automatically compute the values of the Currencies and apply the information accordingly.

Odoo is filled with features to help you sort out business management easily and efficiently. With the advanced support of their Accounting module of Odoo, you can easily manage the most intricate of Accounting data efficiently and effortlessly. With the highly advanced and automated nature of the Odoo system, you can easily manage your business and companies abroad.

One of the biggest advantages of using the Odoo Accounting module is that the advanced module lets you manage your bank account from anywhere around the world. With Odoo linked to your Bank account essentially opens the doors for the Accounting module to communicate with the bank statements and most of the functions under this feature are completely automated and this makes the Odoo Accounting module an efficient and effective tool for your business.


Every aspect of banking can be carried out through Odoo effortlessly no matter how complex the Process is. With the advanced support of advanced Security features such as Number verification and authentication, Odoo will make sure that you have complete control over your Bank transactions wherever you are. Odoo has the ability to detect suspicious transactions and block them in your business and will send the information on your phone number for you to overview to take the decision. This is why Odoo asks for your Phone number while synchronizing with your Bank. With this, you can have an active view of your employee transactions using your company bank account.

If you need any assistance in odoo, we are online, please chat with us.


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