Online Synchronization

Online Synchronization in Odoo 16 Accounting is a relevant feature that admits its users to keep their books or records up to date and synchronized with their external accounts. It automatically imports and synchronizes data from external accounting systems. It also allows users to map their accounts and automatically generate transactions, such as invoices, payments, and journals. The feature also supports double-entry bookkeeping, allowing users to keep their books balanced and accurate. Additionally, you can easily reconcile your bank accounts to ensure all their transactions are accounted for.

This powerful feature helps you to synchronize your Odoo Accounting data with an external system and enables you to keep your accounting data up-to-date and accurate, making it easier to share data with other systems. The Online synchronization feature works by establishing a connection between two systems, such as Odoo and an external accounting system. Once the connection is established, the two systems can exchange data in real-time. This means that when an entry is made in one system, it will be automatically updated in the other.

This feature permits you to configure options for how data is exchanged between the two systems. For example, you can select which fields are synchronized and which fields are excluded. You can also configure how data is handled in the event of conflicts between the two systems.

The Online Synchronization feature is the best suitable way to record every synchronized time with the bank account and Odoo. it allows you to sync your local Odoo database with your Odoo cloud instance. This feature is designed to make the process of transferring data between multiple databases easier and more reliable. The Synchronization feature works by periodically sending data from the local Odoo database to the Odoo cloud instance, and then downloading any changes from the Odoo cloud instance. This ensures that both databases are up to date and that any changes made in one database are reflected in the other.

In order to use the Synchronization feature, you must first set up the connection and authentication between their local database and the Odoo cloud instance. This is done in the Configuration section of the Odoo interface. Under the Banks section of the Configuration tab, you can access the Online Synchronization menu as shown below.

Odoo Accounting Book

Once a connection is established, you can configure the synchronization parameters, such as frequency and the data to be synced.

Odoo Accounting Book

The Online Synchronization window permits you to add a bank account by selecting the ADD A BANK ACCOUNT menu available on the top left. Next moment, you will depict another window with all the banks of operation described as shown below.

Odoo Accounting Book

You can select the bank accounts from the list that you already have described for your company operation. After choosing the required bank, click on the Connect button to sync with the respective bank account.

In case your required bank is not there in the list, you are able to create a new one with the help of the ‘Create it’ option displayed in the bottom right corner of the window. Upon selecting this button, you will meet with a pop-up menu where you can create a new bank account.

Odoo Accounting Book

With this window, you can create a new bank account by providing the required pieces of information such as Account Number, Bank, Bank Identifier Code, and Journal

The very convenient Odoo instance provides almost all the prominent banks serving worldwide in the list of bank accounts for smooth functioning and also provides you the option to create custom bank accounts with your preferences.

Once the bank is created and connected with Odoo, the bank statements will be automatically fetched from the bank server to Odoo at a particular interval of time say in every 4 hours or in every 12 hours, which can be set in the scheduled action for the online synchronization. So under online synchronization, it will record all the synchronized time with the bank, including its state like whether connected, error or not connected, etc, and the latest refresh date and time.

So the feature is very convenient to view and manage the synchronization process in real-time. Users can view logs of any synchronization activities and also view the status of the synchronization process. This helps users to identify and troubleshoot any errors that may be encountered during the synchronization process.

Overall, the Online Synchronization feature in Odoo 16 Accounting is a useful tool for managing data between multiple databases. It provides users with a reliable and secure way to transfer data between multiple databases, helping to reduce manual processes and data errors.

So far, we have been discussing the different features available under the Accounting Configuration menu and the tools described under the Configuration tab of the Accounting module. Now let us discuss the different Payment configuration options available in the Odoo 16 Accounting module in detail.



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