Journals are the necessary and fundamental documents that include essential data and information about the transaction of a company operating in accordance with the date on which the transaction is carried out. Every precise information on the transaction involving the Account Names, Date, Amount, and even if they are registered as debit or credit are notified. With Odoo Accounting, you will be able to view pre-configured journals that are suitable for almost all industries. Also, the platform allows you to define new journals if required. Here in the Odoo platform, you have five types of journals for the purpose of listing the same sort of transaction in one single journal. When we list the five journals in Odoo, this can be listed as

  • Sales
  • Purchase
  • Bank
  • Cash
  • Miscellaneous

Sales Journal

The Sales journal type records every single sales-related transaction. The Odoo platform allows you to configure multiple sales journals based on the requirements. For example, if you are required to record transaction details of the sales from wholesale and retail separately, it can be done separately. This will record the customer invoices.

Purchase Journal

You can utilize the Purchase journals record for collecting all purchase-associated transactions. As like in the Sales journals, different purchase journals can also be created to post received vendor bills.

Bank Journal

The next type, the Bank Journal, records every bank transaction details. You can post your bank statements and can effectively track customer bank payments, vendor bank payments, and every other transaction documented by your related bank account.

Cash Journal

Now, in the case of a Cash journal, we can record all the cash transactions. In this journal type, you will be able to keep a record of petty cash and daily cash transactions. It can also track details of received customer cash payments.

Miscellaneous Journals

Now the last journal type, Miscellaneous journals are very useful for keeping records of types of transactions that are not included in the four journals we described earlier( Sales, Purchase, Bank, and Cash). The journal type can consider inventory valuation, inventory adjustments, exchange difference, opening balance, and many others that don't fit into the other four journal types. The journal type is very comfortable for posting miscellaneous entries, even for the payroll or all of your corrections. The Miscellaneous journals do not carry any advanced settings. The Odoo platform allows you to set up a sequence number for these five journal types, so it will be easy to identify.



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