Since 2005, Odoo- the leading enterprise ERP is making its services and product quality better with continuous enhancements, new additions, and unnecessary features deletions. In the series of changes, the company has recently rolled out its stable Odoo 13 enterprise version with lots of new features to its major modules such as accounting, document management, IoT, and OCR module.
In this blog, we will shed light on the accounting module, its features and the long-awaited positive changes made to it. They are:
What the heck accounting module is?
For the accounting firms or individual accountants, the accountants often remain entangled in certain manual tasks that eat up a lot of time and effort, which in turn, don’t let them perform to the peak efficiency. That’s where the accounting software comes under Odoo ERP software is an incredible tool that allows the accountants to do more in less time by handling daily business activities through a range of tools. Odoo has put a lot of effort into making the accounting module seamlessly manage different customers, invoicing, reconciliation, bills, and pretty more.
A bunch of features that are making the accounting an indispensable tool:
It’s time-savvy
The module with intuitive and modern UI is easy to set up and enable the mobile extension for all accounting services. The automated alerts, bank statements syncing, and automated reconciliation reduce data entry needs, thereby making things done in minimum time.
Invoicing
The full-featured and easy-to-create invoices support advanced payment terms such as cash discounts or partial reconciliation. Besides, the automated suggestions for outstanding payments eliminate the reconciliation needs.
Easy payments
The support for online payment for the credit cards, automated follow-ups for the credit collection process and the capability of the customers tracking the payment through the customer portals enable accounting firms to get paid at speed. Additionally, the aged receivable report illustrates the overdue payments and advanced customer statements help in understanding every customer use case, which helps in taking the right decisions.
Account payables
It allows the firms to digitize the vendors’ bills through OCR and AI technology, stay certain for the correct bill payment with the continuous comparison of Purchase Order, the Vendor Bill, and the Receipt, and forecast the expenses with future bills estimation.
Bill payment- a matter of a few clicks!
The multiple ways to pay the bills- print checks in batches for the proposition received for supplier bills to pay, automate payments to suppliers according to schedule with SEPA, and the deposit tickets track make the work easier.
Are you thinking of excellent Odoo Accounting Software for your business? Odoo is the best choice for your business as you can leverage the benefits of other Odoo modules as well. Odoo is a complete suite of business applications which is cost-effective and booming in the market.
We at SerpentCS, enjoy implementing Odoo ERP for our customers. Get in touch with us if you need more information about Odoo.SerpentCS is the best odoo ERP services provider. Odoo Gold Partner, Served 172+countries.