Accounting and Finance

Last updated: november 21, 2019

Accounting and Finance

Customer Invoice to Payments

Depending upon your business and the application you use, there are various approaches to automate the customer invoice creation in Odoo. In usual scenario, draft invoices are made by the framework (with data originating from different reports like sales order or contracts) and accountants simply have to approve/validate the draft invoices and send the solicitations in batch (by customary mail or email).

One can either create a customer invoice directly from the dashboard via clicking on NEW INVOICE button or via going to the CUSTOMERS section in the accounting tab and selecting INVOICE option

Upon,clicking the NEW INVOICE button, you will be navigated to a new window with a creation form like below.

The field includes the following attributes:

Customer: You can find a contact by its name, TIN, Email or Internal Reference.

Delivery Address: Delivery Address for Current Invoice.

Payment Terms: If you use payment terms, the due date will be automatically computed at the generation of accounting entries. If you keep the payment terms and the due date empty, it means direct payment. The payment terms may compute several due dates, for example 50%now,50%in one month.

Or else one can also set the Payment terms via defining a date.

Invoice date: Keep it empty to use the current date.

Sales Person: Under the field, one can assign the sales person authorized for deal.

Journal: Defines the Journal authorized for the deal.

Company: Company related to this Journal.

Currency: Currency used for the transaction.

Under Invoice Lines Tab, one can add the products the customer desires to buy, description if any under the label section, the account you configured for the deal, and more.

After entering all the details,

You can register send the invoice and later register the payment.

click VALIDATE, you can see that the invoice has been paid for.

And upon clicking the green little icon, you get acquainted with more information about the payment. One can see that this payment invoice has been reconciled together. And, in case if one needs to un reconcile, all they have to do is click UNRECONCILE.

In case, the invoice payment is partial, you get the payment information citing amount due.

Via clicking the PREVIEW button on top you get to see the website view of the invoice.

Now if you go to Accounting> Journals> Sales, you can see the journal entry that was automatically created for the invoice.

Upon clicking them, you have a journal entry with debit and credit balanced.

Now if you go to Customers-> Payments

You can see the Invoice Payment details such as date, invoice name, journal, payment method, customer, amount, status and the company.

From here, you can access the corresponding journal items and also the invoices.

Upon clicking the Journal Items, you can see that the client paid a certain amount and that amount is debited in the bank account, and also it is credited in the account receivable.

And there is a balance between the CREDIT and DEBIT.


Aged Receivable Balance

So as to get a rundown of invoices, one can go for Aged Receivable report, under reporting menu.


Reporting > Partner Reports > Aged receivable.

Anytime while you're glancing through the report, you can print straightforwardly to Excel or PDF and get precisely what you see on the screen.

To view all Journal Enteries,


Got to Accounting-> Accounting->Journal Entries

This is where you can create the journal entries manually.

As you see in the above image, by default the filters would be MISSCELENEOUS OPERATIONS.

To create a new journal entry, click the button CREATE.



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