Needless to say, users are still talking about the features of various Odoo modules introduced in the Odoo 15 version. We are very sure that this buzz will remain for some time.
Today, in this blog, we are going to discuss one of the most advanced modules of Odoo that plays a vital role in streamlining the accounting processes of your company. Yes, we are talking about Odoo Accounting.
We give you an insight into the analytic accounting feature of the Odoo accounting module, which is introduced in the Odoo 15 version. So, let's unfold it.
Analytic Accounting in Detail
It is widely used by large companies to fulfill their crucial operations such as analysis of the company's cost, reinvoice time to a customer, and analysis of the performance of a project, services, and products. In addition, it helps analyze where the funds of your company are spent and where it comes from.
There are different aspects of analytic accounting that can be activated from the setting option of Accounting's Configuration tab. It is quite easy to track the costs and profit of a project or particular department once you enable the Analytic Accounting option. With the Analytic Tags, you can easily tag the analytic entries while assisting you in handling the analytic distributions.
There is a Reporting tab given in the Accounting that you can use to view the analytic accounts. It includes the name of the Account, Reference, and customer. It also has accurate data on Debit, Credit, and Balance. Moreover, the selection of the accounts will allow you to view more information about the analytical accounts and edit them as per your requirements as shown below.
If you want to create a new analytical account you will need to click on the Create button. After clicking the Create button, just enter the name you want to give for your analytical account. After that, add the name of the customer and group in the given field respectively.
It is very easy to create and maintain the analytic account groups in the Odoo 15. You will find an option for the Analytic groups from the the Configuration tab. Select a group from the existing list to gather more information about these groups. To create an analytical group, simply press the Create button and fill in the details like Name of the Group, Name of the Parent Group, Name of the Company, and depiction of the group you have created as highlighted in the screenshot given below.
How To Generate Analytic Report?
It is very easy to generate an analytic report depending upon the tasks done in analytic accounting. Select the Analytic Report option from the Reporting menu that will allow you to generate the Analytic Report. Besides, you can show the Hierarchy and Subtotals with the help of the filtering feature. It also makes it easy for you to view the analytical accounts. On top of that, it is effortless to save the report in PDF and copy it into an excel sheet by clicking the PDF and XLSX buttons.
Analytic Accounting is very useful when planning a budget. With the Analytic Account, you can easily analyze the performance of the services and the product, which you generally sell to your regular customers.