A business needs accounting because it gives a clear financial picture, which facilitates strategic planning and well-informed decision-making. It guarantees adherence to tax and regulatory requirements, preventing fines and preserving stakeholder trust. Furthermore, by recognizing possibilities and hazards, precise accounting promotes openness, increases investor trust, and supports sustainable growth.
To improve the effectiveness of bills and invoices, Odoo added new functionality to the Odoo 18 accounting module. Within the Accounting Settings, you may access the Accounting Firms Mode. It will assist in altering the firm method and altering the encoding of bills and invoices. Users can manually add a sequence number to the bills and invoices by using this feature. Additionally, a new field called "Total Tax Included" will be added. Thirdly, users have the option to add default invoices and bill dates.
Let's see how these are used in this blog.
There are four options in Accounting Firms mode: Disabled, Customer Invoices, Vendor Bills, and Customer Invoices and Vendor Bills.
Select the Disabled option if the user does not wish to add these settings. Select Customer Invoices if the accounting firm's mode is limited to adding invoices. Select the Vendor Bills to add those modifications. Additionally, by selecting Customer Invoices and Vendor Bills, you can enter both invoices and bills.
Here, the Accounting Firms Mode is chosen for both bills and invoices. Then save the configuration.
Let's create a new Invoice. For that, click on the Customers menu in the Accounting module. Then a list will appear. The list shows, invoices, Credit Notes, Payments, Products, and Customers. So choose the Invoices. All the previously added invoices will show. The list view of invoice adds the details like Sequence Number, Customer, Invoice Date, Due Date, Tax Excluded Price, Total, and Status. To add a new one, click on the New button, and it is possible to upload a new one by clicking on the Upload button.
While checking the sequence number of the invoices it's clear that which had an order. This means the first created invoice sequence number is INV/2025/00001. And the sequence number for the second invoice is INV/2025/00002. So as shown it's clear that the sequence number of the third one should be INV/2025/00003. So the first use of Accounting Firms Mode works here.
Click on the New button and add a new Invoice.
Here as shown in the above image, users can manually add the sequence number for the invoice. So its possible to change the sequence order. For example, here the user adds the sequence for the invoice as INV_Deco Addicts/2025/0001.
The second alteration was the addition of a new field called ‘Total (Tax Inc.)’ by Odoo. A sum can be placed there, and the total amount inside the invoice line should match the amount added.
An order line without a product will be inserted automatically if the user enters a sum in the Total (Tax Inc.). The total (Tax Inc.) amount will then automatically match the amount displayed on the order line. In this case, the user entered $1000 for Total (Tax Inc.). 15% is the default corporation tax. Thus, $869.57 is the price that is not subject to taxes. Additional information, including the total cost, the 15% tax amount, and the untaxed amount, is displayed at the bottom of the invoice.
The third update is on the Invoice Date. There is no need to add the Invoice date manually, which will automatically update as the current date.
While checking on the Bills, these configurations are also visible inside the bills. Click on the Vendors menu, then a list view will appear. Bills, Refunds, Payments, Products, and Vendors are shown in the list. Choose the Bills from there.
The sequence number of the Bill, Vendor, Bill Date, Due Date, Reference, Tax Excluded, Total, and Status are shown. Click on the New button to add a new bill.
While checking the form to add the new bill, the users can add the sequence number as their own wish. So it's possible to change the usual order of the bill sequence and can customize the sequence.
The Bill Date is automatically updated as the current date. It's possible to edit the Bill Date, if necessary.
Then the Total (Tax inc.) field is also added inside the bill. Users can use this field to encode the turtle amount of the bill. Odoo will automatically generate one invoice line with default values to match it.
Scroll down the Untaxed Amount, tax amount of Tax 5%, and the Total. It's clear that the total amount is matched with the amount which the user added inside the Total(Tax inc.) field.
By using the Accounting Firms Mode in doo 18 it's very easy to customize the invoices and bills.
To read more about What is Continental Accounting in Odoo 18?, refer to our blog What is Continental Accounting in Odoo 18?