Enable Dark Mode!
what-is-odoo-14-analytic-account.jpg
By: Cybrosys Technologies

What is Odoo 14 Analytic Account

Functional Odoo 14

In a company, it is important to generate reports to manage a business in a successful way. We have to manage different reports on different operations to analyze the performance of the company. Generating reports on accounting related operations and financial transactions is the key to the success of a business firm. 

Analytic accounting is an application that can help the business to analyze accounting documents, interpret their results and generate reports. IT will also support reinvoicing and cost management. 

Analytical accounting tool helps to do all analysis and report generation activities based on the chart of accounts of the company.

In this blog, we can take a glance at the key benefits of Analytic Accounting and how to use Odoo 14 Analytic Accounting. 

Advantages of Analytical Accounting

- Department level cost analysis

- Profitability of a new line of product

- The cost of a new project

- Cost analysis based on time spent

- Helps you to avoid the creation of more accounts in the chart of accounts

- Can create an analytic account for different projects

How to configure analytic accounting?

To do this, first, enter the dashboard of the accounting module and go to Configuration. 

Here, we can click on Settings and go to the settings.


what-is-odoo-14-analytic-account


In the module settings page, we have to scroll down and go to Analytics

Here, we can find Analytic accounting and Analytic tags. 

We can activate these two options.


what-is-odoo-14-analytic-account


We have saved the changes before moving forward.

Now we have to go to the configuration again and choose the analytic account.


what-is-odoo-14-analytic-account


The below-given screenshot gives you a glimpse of the analytic account page.


what-is-odoo-14-analytic-account


Set aside your worries about the existing accounts. It is simple and effortless to create a new analytic account. 

Using the Create button gives us a new window


what-is-odoo-14-analytic-account


Here we can add different details like analytic account name, reference, customer details, group details, category, and other details,

On this page, we can also find the budget items including budget details along with budgetary position, start date, and end date. 

In the above image, the group helps us to add multiple analytical accounts and get the analysis for multiple accounts.


what-is-odoo-14-analytic-account


Look at the above image and we can see that I have named the analytic account as Cybrosys Library. The reference has been given as Cybro 1 and customer Azure Interior. I have selected the group as a Department. We can also create a new group apart from selecting a group from the list. In order to do this, you have to create a group.


what-is-odoo-14-analytic-account


It is possible to complete this task with the help of the given pop-up window.

After completing this we can go ahead to create vendor bills. This can be chosen from Vendors. Here we can find the option bills.


what-is-odoo-14-analytic-account


These are the existing vendor bills and now we can choose to create a new bill.


what-is-odoo-14-analytic-account


We have to add the necessary information here.


what-is-odoo-14-analytic-account


Here, we have selected the vendor, delivery address, product, label, and unit price. For analytic accounts, we have chosen the analytic account we created earlier. After adding all information we can confirm the operation.


what-is-odoo-14-analytic-account


After confirming the operation we will have to choose the Register Payment button and then go to the Analytic Items option there. 

Analytical Items

For this, we have to go to Configuration> Management> Analytic Items


what-is-odoo-14-analytic-account


Here, we can create new analytic items. It is somewhat similar to journal items. But, here we can find only the items which will be part of the Analytic Account.


what-is-odoo-14-analytic-account


In the above image, we can find our analytic items along with the recently created item. We can click on the first item.


what-is-odoo-14-analytic-account


Here, we get a window where all information regarding the analytical item is available.

Now, it is time to move to analytical reporting.


what-is-odoo-14-analytic-account


Analytical Report

We can now move on to the Analytical report. Here, we can view the analytical accounts and the balances. Here, the accounts will be listed on the left and balance on the right-hand side.


what-is-odoo-14-analytic-account


Here, we can check the analytic report for a specific period. We have options like a month, a quarter, or a year and this option can be selected from here.


what-is-odoo-14-analytic-account


As you see, the above drop-down menu is given to help you in checking the period. 

We can also choose a particular analytic account.


what-is-odoo-14-analytic-account


Odoo 14 also helps us to filter the accounts and reports. This option helps us to


what-is-odoo-14-analytic-account


Among the options, we can find Hierarchy and subtotal. 

On choosing the option we will get


what-is-odoo-14-analytic-account


Here, on the left side, we can find different groups including the custom group we created earlier. 

On clicking on the custom group we can find the Analytic account we created, ie, Cybrosys Library. On clicking the option we will get the details of the account which was created by us.


what-is-odoo-14-analytic-account


The balances for each group are displayed on the right-hand side.

We can also find a group named Accounts without a group

This is the account where all ungrouped accounts will be listed.


what-is-odoo-14-analytic-account


Here we can find different accounts and balances. Under this group, we will get the individual balances of an account. 

Profit and Loss

Now we can move ahead and check Profit and Loss under the Reporting tab. Profit and loss being an important part of the report generation will help you to identify the actual benefit of the product.


what-is-odoo-14-analytic-account


This is the profit and loss page

We can choose our analytic account from the analytic then check all expenses and depreciation related to this account


what-is-odoo-14-analytic-account


With this feature, the user will be able to trace all expenses and depreciation related to all your analytic accounts. The tool provides you support for viewing the operating cost and income on the account as well. 

Comparison


what-is-odoo-14-analytic-account


Comparison of business performance for different periods is the best way to plan strategies. Analytic accounts also offer this support.

Apart from managing analytic accounts, we can also create Analytic tags. This can help your business scale fresh heights. This feature is part of Odoo Accounting and it will surely help to manage different accounting-related features.

If you have any doubts regarding Odoo 14 Analytic Accounts you can visit www.cybrosys.com


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




0
Comments



Leave a comment

 
whatsapp
location

Calicut

Cybrosys Technologies Pvt. Ltd.
Neospace, Kinfra Techno Park
Kakkancherry, Calicut
Kerala, India - 673635

location

London

Cybrosys Limited
Alpha House,
100 Borough High Street, London,
SE1 1LB, United Kingdom

location

Kochi

Cybrosys Technologies Pvt. Ltd.
1st Floor, Thapasya Building,
Infopark, Kakkanad,
Kochi, India - 682030.

location

Bangalore

Cybrosys Techno Solutions
The Estate, 8th Floor,
Dickenson Road,
Bangalore, India - 560042

Send Us A Message