Your company will have many regular clients who are trustworthy and who you know in person, giving you the confidence to trust each other in business and in personal matters. These types of interactions may be found in small and medium-sized firms as well as huge and global corporations. One such example of a trust-related feature is the payment, where the client will pay for the invoices both in advance and in full at the conclusion of a term.
The Odoo platform has batch payment features that will let the company post payments in groups and help with efficient operation. The Customers page of the Odoo Accounting module is where you can adjust the Batch payment setup. When you select a menu item, all of the configured Batch payments will be displayed to you. Like with every other menu in Odoo, there are also obvious choices for Filtering and Grouping.
When you wish to generate a new batch payment, you can select the Generate option to see the window shown in the following picture.
You must first establish the Batch Type, Bank information, Payment Method, Date, and Reference of the relevant Batch payment before you may build new Batch payment configuration aspects.
By selecting the Add a Line option from a different menu that is also used to specify the batch content, you may add the invoices for the batch payment. When you select the Add a Line option, a pop-up box, as seen in the picture below, will emerge, displaying every payment that has to be made. The Payment will be displayed based on the batch type that has been configured for the batch payment. All of the payments that the client is anticipated to make to the company will be displayed if it is an inbound transaction. If the transaction is an outbound one, all of the payments that the company must make to the vendor will be displayed. Additionally, the Filters and Group By options under the Add: Payments menu may be utilized to exclude particular payments from the Batch payment that has to be configured. For Odoo's Vendor operations, there is also a Batch payment setup option that will be discussed in more detail in the following chapter.
Once each payment has been selected to be a part of the batch payment, you may confirm the decision, and the batch payment will include each payment. Additionally, upon the confirmation of the Batch Payments, all of the Payments in the Batch have been marked as Sent.
The stage will be changed to "Reconciled" after this batch has been reconciled. The firm will be able to provide the client with full payment of the invoices at the conclusion of a term or based on the customer's financial situation, thanks to the batch payment operations. Now that we have clarity on the component of the Batch payment setting, let's move on to the portion that establishes the Follow-Up Reports of the Odoo Accounting operations.