The Reporting feature offered by Odoo 16 Accounting can assist you in getting advanced reports of the overall operations done using the module. You will get designated platforms in the Reporting menu for analyzing multiple accounting functions separately. Odoo never disappoints you in delivering the best result in business management. In order to run your business successfully, it is essential to analyze the performance of various departments regularly. Reports will benefit every organization to get an idea of the operational stage that the company has reached. Rather than illustrating the operations of a company in graphs, a good report will assist the company in analyzing each stage of company operations with its future possibilities.
The management of finance is a vital factor of any kind of business, and people started to look for efficient tools and solutions to make the entire process of accounting management easier and more effective. The analysis can be easily done with the help of the Reporting function available in each module of Odoo ERP. Users will be able to generate appropriate reports using the tools offered by the system. Advanced views and sorting tools will be available in reporting to make sure that the user is satisfied with the generated result. When it comes to Accounting, an accounting report will provide an overview of the organization’s financial performance in different aspects. You may get a quick grasp of how each accounting operation is performed and progressing using these reports.
Being a comprehensive business management software, Odoo gives a variety of reporting features and tools by considering the needs and convenience of the business enterprises. You can find a dedicated menu for generating your company’s financial reports in the Accounting module. Here, we will be looking at the Invoice Analysis and Product Margins available in the Odoo Accounting reports.
Invoice Analysis
Invoice Analysis report is one of the major types of accounting reports you can find in the Odoo Accounting module. This platform can be accessed from the Management tab of the Reporting menu.
All invoices that have been generated in the Accounting module and those that are in the draft stage of creation can be analyzed using this platform. This report includes all bills concerned with customer-related operations in the sales process of goods and services in Odoo.
Odoo offers Graph and Pivot views for the reports. In Graph view itself, you can alter the view between Pie, Bar, and Line charts. You can use these views to view the invoice analysis reports according to your convenience. It is possible to customize the analysis report using the available filtering and grouping options.
As you can see in the image above, the default Filters include My Invoices, To Invoice, Invoiced, Customer, Vendors, Invoices, Credit Notes, Invoiced Date, and Due Date.
In the Grouping option, we have Salesperson, Sales Team, partner, Product Category, Status, Company, Date, and Due Date. The filters and group by options can aid in getting required data related to the invoices generated in the Accounting module.
The above-shown screenshot is the bar chart of the Invoice Analysis report. When you choose more than one filter or grouping option, the report will be shown in different colors based on the situation. Additionally, you will get Stacked, Cumulative, Descending, and Ascending options in the Line and Bar charts to make the report useful.
As Measures, Odoo gives Average Price, Product Quantity, Total, Untaxed Total, and Count for the analysis. In addition to the graphical view, you can analyze the invoice report in the Pivot view. The grouping operation can be carried out within the pivot table itself.
You can expand and depreciate the table view using the + and - icons available as shown in the image above. To create customized filters and grouping options, you are allowed to use the Custom options offered in the respective menus. Set suitable measures for the reports using the Measure.
The Invoice Analysis reporting is an excellent tool available in Odoo Accounting for the requirement of effective accounting management and monitoring. Now, let’s look at the product margin feature available in the Reporting menu.
Product Margins
We can define product margin as the profit that a company makes from sales of a product that you have either manufactured at your company or purchased from another vendor. An effective product margin analysis will help the company to get accurate information on the sales of the product. The company can decide whether to continue or stop selling the product based on the sales using Product Margin. In Odoo, we calculate product margin using the following mathematical formula.
Product Margin= (Selling Price - Cost of Production)
Selling Price
The sales can be considered as profitable for your business when the margin rate becomes positive. It will happen when the selling price is higher than the cost price. In case the selling price is lower than the cost price, the product margin will result in a negative and your business will lose money.
By considering the necessity of product margin analysis in business management, Odoo offers a dedicated reporting option for Product Margin in the Accounting module.
As shown in the image above, you can find the Product Margins option under the Management tab of the Reporting menu. Once you click on this option, Odoo will open a new pop up window for you.
In the specified fields, you can add General Information on Product Margins, such as From, To, and Invoice State. You will get a drop-down menu to select a suitable invoice state. The invoice state can be set as Paid, Open and Paid, or Draft, Open and Paid. Now, you can select the Open Margins option. This will show the product margin report of the selected date.
The report displays the Name of the product, Internal Reference, Average Sale Unit Price (Average price in customer invoices), Invoiced in Sale (Sum of quantity in customer invoices), Turnover (Sum of multiplication of invoice price and quantity of customer invoices), Sale Gap (Expected sale- turnover), Total Cost (Sum of multiplication of invoice price and quantity of vendor bills), Purchased (Sum of quantity in vendor bills), Total Margin (Turnover- standard price), Expected Margin, Total Margin Rate, and Expected Margin Rate.
You can access the Filtering and Group By options on this platform to create more specific reports. According to requirements of the user, Odoo allows customization in both Filter and Group By options.
As you can see in the screenshot above, Services, Products, Published, Available in PoS, Can be Sold, Can be Purchased, Can be Recurring, Can be Rented, Can be Expensed, Favorites, Warnings, and Archived options will be available as default filters.
You can use Product Type, Product Category, and PoS Product Category as default Grouping option.
It is possible to select a number of products from the list using the tick box available in the display. By selecting certain products, you will be able to get an Action button on screen as depicted below.
The Action button encompasses Export, Archive, Unarchive, Delete, Get Pictures from Google Images, Generate Pricelist, and Compute Price from BoM options.
Apart from the list view, Odoo offers a graph view also for analyzing the Product Margin. It will provide Line, Pie, and Bar charts of the reports.
You can generate Product Margin analysis reports based on your requirement using the suitable filter, grouping, and measures.
Here, you will get Base Unit Count, eBay Fixed Price, Quantity on eBay, Quantity Sold, Supplementary Units, Total Margin, Volume, Weight, and Count as Measures for the report.
To get a better understanding about the progress of product sales in your company, Product Margin can help you to a great extent. This will benefit you in improving the sales strategies for future sales operations.