Odoo FAQ
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In Odoo 15 accounting module a new feature is introduced called as 1099 report which helps to export a CSV file containing all the information you need to e-file 1099s through a 3rd party service. By default, this wizard displays all liquid journal items posted in an account under Balance Sheet -> Assets. For generating a CSV file of 1099 reports Go to -> Accounting -> Reporting -> Management -> 1099 Report. You can use the wizard to pick the start date and end date, also you need to select journal items and click on Generate button, after clicking, it will automatically check selected journal items and then generate a 1099 report CSV file.
In Odoo 15 Accounting module a new field named Foreign Tax id is added in the Fiscal Position which helps to provide the tax id of your company in the region mapped by the fiscal position.
When a PO is confirmed, a smart tab receipt will appear. Also, the receipt date can be confirmed using ‘Ask confirmation’ in the PO. Click on receipt and validate it thus, the purchased product will move to the warehouse location
Odoo 15 Enterprise’s French fiscal localization comprises the FEC Import feature to make the induction of new users easier and enables the importing of your accounting data from FEC files from earlier software. To enable this feature go to Accounting -> Configuration -> Settings -> Accounting import -> FEC Import, after enabling this feature from the settings the user can access it from the configuration menu of the accounting module. When clicking on the FEC import a wizard will popup from where one can import the FEC file.
The general ledger shows the accounting transactions of each account in debit and credit. While the Partner ledger shows the accounting transactions of each partner in debit and credit value.
Odoo 15 provides a reporting menu itself to take the wide range of reports necessary for the business including profit & loss report, balance sheet, partner ledger, general ledger, executive summary, cash flow statement, check register, aged payable, aged receivable reports, trial balance, tax report, Intrastat report, analytic report, budget analysis, invoice analysis, etc.
There are three depreciation methods used in asset management: Straight-line: it depreciates the total value among the period Decline: the depreciation will be the product of the total amount and a declining factor. For every year the product amount will decline. Declining then Straight Line: this will be the combination of the above. It will first follow a declining method and once it reaches the straight-line value then it depreciates the straight line thereafter.
Asset model created to use that model for managing assets easily rather than separately creating one by one. Asset models can be created from Accounting -> configuration -> Asset models. Now assign this model to the chart of account ‘fixed asset’ to create in draft. So when you create a purchase bill, you can add the fixed asset account to the bill, which will create an asset based on the model specified in the account.