You can get an overview of the financial processes carried out in the organization using Odoo accounting from the Dashboard of the Accounting module. In addition, by using the different tabs, you can get an idea of how operations are performed and what happens to the financial components of each tab. When you use the dashboard for the first time, you will see filtered data based on the configuration defined during platform development. In addition, you can remove the filter if necessary. Also, you can customize the panel with a selection of custom filters, some of which are preconfigured.
The information displayed in the menu can be changed according to your functional needs using the Group By option in the Dashboard. You will also see a table that illustrates the layout of the accounting module and subsequent business financial operations. From there, you can get information about how all functions related to financial management should be organized. The Dashboard of the accounting module with the configuration description window is shown in the following image.
You can set up the first bill for vendors directly from the overview by clicking on it. The Let's Get Started option takes you to a window where you can instantly generate vendor bills based on functional requirements. By selecting Add Bank, which takes you to the same interface where a bank account was created for the company, you can also set up a bank account for company operations. Then you can change the accounting period and the Tax Return Periodicity for various periods, such as quarterly, annually, and on-demand, by selecting the settings button under Accounting periods.
Additionally, the Review button for the chart of accounts displays all currently installed locations with corresponding Charts of Accounts. Additional accounts can also be created or imported if needed. Users can add a starting balance by clicking the Review button below the Chart of Accounts. The credit/debit amount of each account can also be added to make the platform work, and the changes can be saved. For Opening Balance in Journal Entries, the associated Journal Entry will be created. Odoo automatically adds any debit/credit differences to "999999 Undistributed Profit/Loss" for automatic balancing, if any.
You can close the indicated window as needed to see the Dashboard, which is shown in the following image. A number of tabs, such as Customer Invoices, Vendor Bills, Miscellaneous Operations, Bank data, Cash information, and many more, will be presented based on the Dashboard's Favorites as they are set up and used. Furthermore, the Dashboard will include all of the generated Journals and operations. The ones you use frequently can also be added to the Favourites list based on your demands. This will be beneficial for journal filtering, depending on necessity. The following picture shows a useful flowchart of the processes related to how each tab operates. The distinct information on each chart will be displayed to you when your mouse pointer is hovered over it, according to the definition on the chart.
If you want to remove the corresponding tab from the accounting module Dashboard, you can remove it from favorites. In addition, you can see relevant documents for each journal, such as invoices, bills, and credit or debit items, from the overview, as well as create new documents and get reports for documents in each journal. In addition, there is a settings option that will take you to the settings menu in this tab. Each tab has a separate configuration setting, and you usually need to configure the journals for the tab you are configuring. For example, the Customer Invoices tab is currently selected, and the attached screenshot shows its Settings menu. You can learn more about each journal, including its types, by visiting this page. In addition, journal entry setup information, including currency information, short code, Dedicated Credit Note Sequence, and Default Income Account. By selecting the Edit option in the settings panel, you have the option to change all the journal information you need.
Additionally, the specified Journal's Advanced Settings may be configured, allowing you to adjust menu items such as Control Access information such as Allowed Account Types and Allowed Accounts, as well as activate or disable the Lock Posted Entries with the Hash function. Mentioning allowed accounts allows you to record journal entries to those particular accounts only. Also, by enabling the feature Lock Posted Entries, Odoo restricts editing of the posted entries. You may also add the Email Servers from which Accounting emails are sent by utilizing the Configure Email Servers option. Electronic Data Interchange and Electronic Invoicing through Factor-X(IN) can be enabled or deactivated for each Journal.