Fiscal Position - Odoo 17 Enterprise Book

Fiscal Position

For various nations, there will be variations in the exchange rates and tax calculation procedures. Odoo17 will assist you in developing the necessary rules to automatically change the taxes and accounts of a nation utilized for business purposes using the fiscal positions. Go to the Accounting module's Configuration menu and select the Fiscal Position button to configure the Fiscal Position. You may find the already configured fiscal positions with the data of their names and companies here, as shown in the image below.

Odoo 17 Accounting

Click on the New button to start a new one. In the provided area, you may enter a name for the Fiscal Position.

Odoo 17 Accounting

To automatically determine the customer's tax rate by location, turn on the Use TaxCloud API. You may see the name of your company in the Company field. Odoo17 will automatically apply this fiscal position based on the place you choose if the Detect Automatically option is turned on. Once you turn on this option, you'll have access to two more choices, namely VAT Required and Country Group. By turning on the VAT Required option, Odoo only considers the partner for this fiscal position if they have a VAT number.

Only if the delivery country corresponds to the group or groups of nations indicated in the Country Group and Country fields will the fiscal stance be applied. The Foreign Tax ID box can be used to specify your company's tax identification number in the region covered by this fiscal situation.

The Tax Mapping tab allows you to add the tax that will be mapped to this financial situation. You can specify the tax you want to substitute in the Tax on Product box by clicking the Add a Line button. The Tax to Apply section allows you to specify the tax that you want to apply to this financial situation.

Odoo 17 Accounting

You can specify the account you wish to use for this fiscal position in the Account on Product and Account to Use Instead sections, respectively, under the Account Mapping tab.

By turning on the Use AvaTax API option, the tax rates can be calculated automatically. You may access the AvaTax tab by turning on this option, as shown in the screenshot below.

Odoo 17 Accounting

You can enter the Avatax Invoice Account (the account that AvaTax taxes will use for invoices) and the Avatax Refund Account (the account that AvaTax taxes will use for refunds) here. The Legal Notes area can be used to specify the legal notations that must be printed on the invoices.

In the Settings menu, you can select your home country for accounting purposes. You can choose your Fiscal Country under the Taxes tab, as seen in the image below.

Odoo 17 Accounting

It is crucial to specify the end of your fiscal year so that Odoo17 can open new entries on that day every year. The Fiscal Period option, which is found in the Settings tab, allows you to specify the end of your fiscal year.

Odoo 17 Accounting

You can enable the Fiscal Years option to configure your company's fiscal year whether it is longer than or shorter than 12 months. Using the external link provided in this section, you can configure new fiscal years.

You can enter a date in the Invoicing Switch Threshold field to specify the date after which invoices will no longer be counted as accounting entries.



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