Odoo 16 Community Book

Storno Accounting

Storno Accounting is one of the newly introduced accounting features in the Odoo Invoicing module. This accounting method will use negative credit or debit amounts tracked in your account to reverse the original journal entries. This new feature will help you to cancel the files with incorrect accounting data concerned with the recorded amount. Once you cancel the incorrect accounting data, you need to make sure that the actual data is entered correctly.

Odoo creates a copy of the original entry in the Storno Accounting mode. In this mode, the amount mentioned in the reverse entry can be observed in a negative sign.

We are going to explain this feature with an example. While managing a customer invoice, you found that the amount was mistakenly entered as $170 instead of $150. Here, you can create Storno for the original entry. Once you complete the reversal of the original entry, Odoo will help you to create a correct invoice for the amount of $150.

This is the customer invoice for the amount of $170. Under the Journal Items tab, you can observe the items generated for this particular invoice.

Go to the Journal Items option available under the Accounting menu. Here, the journal item posted for the amount of $170 can be found as shown in the image below.

Since it is not the actual amount, you can reverse the journal entry.

Using the Add Credit Note option, you can create a reverse entry for the mentioned amount.

The posted entry will be reversed as soon you click the Reverse button and confirm the customer credit note. When you check the amount in the journal item window, you can observe the amount in a negative sign.

We have reversed the incorrect journal entry, so you can create a new journal entry for the actual amount.

The journal items of the incorrect invoice, Storno, and correct invoice can be seen in the Journal Items option of the Accounting menu, as shown in the screenshot above.