Odoo 14 Community Edition

Chart of accounts

The chart of accounts is the index of all the accounts which is used in the various business operations of the company to record their financial transactions. It is an organizational tool that comprises a company’s general ledger and it will allow a company to allocate every transaction which will help you to understand where your business is making and spending money. It will segregate the revenue, expenditure, assets, and liabilities of an organization. In the Odoo platform, you have the feature and it also includes the balance sheet, or profit and loss accounts. Using this customizable feature, you can prepare a chart of accounts as per your business requirements. The chart of accounts menu in the platform can be viewed from the configuration tab of the Invoicing module.

Invoicing -> Configuration -> Chart of Accounts

Odoo 14 Invoicing Module

The image of the Chart of Accounts window is depicted below where you can view all the created accounts along with their code, type, company, and other details. This window can be viewed in both the list and kanban view. The various default and customizable options such as filters, group by, favorite search are also available.

Odoo 14 Invoicing Module

For creating a new Chart of Accounts, you can click on the Create button available on the top left corner of this window. The new one can be defined in the same menu itself by selecting the create button.

Odoo 14 Invoicing Module

Here you can provide the code which is the identification mark of the account, account number, account type, company, let and enable or disable the option Allow reconciliation. Moreover, there is a setup window available under each of the chart of accounts and where you can provide the details to define the accounting aspects of the respective chart of account. The image of the setup window is depicted below.

Odoo 14 Invoicing Module

As we clear on how to configure Chart of Accounts in the platform and now let us discuss the next operation Taxes and its configuration.



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