Features & Benefits Of Odoo 17 Accounting Software

By Author: Alex Forsyth
Total Articles: 118
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The Accounting Software of Odoo ERP 17 provides robust financial management tools for streamlined bookkeeping and real-time insights, offering user-friendly interfaces and comprehensive reporting for enhanced accuracy and informed decision-making, ultimately optimising overall financial performance. Explore its features & benefits here. 

Accounting transactions are crucial for organisations to handle their money coming in and going out efficiently. They help in planning budgets, making purchases, and assessing sales. However, mistakes in accounting documents may need fixing, and it's important to keep all data secure for future reference.

With Odoo 17 Accounting Software, financial or accounting tasks are automated, making the processes smoother. The software streamlines accounting procedures and keeps track of corporate workflows. This automation boosts productivity, reducing the time spent on accounting tasks. By using the updated Odoo ERP 17 Accounting module, you can manage payments, journal entries, taxes, bank accounts, and more through ...
... user-friendly features.

Why Choose Odoo 17 Accounting Software

Odoo 17 Accounting stands out as the top accounting software by overcoming the limitations of traditional systems. With its latest version, Odoo provides businesses with a flexible and responsive solution for managing finances. Odoo 17 Accounting introduces real-time features, giving users immediate insights into their financial data. This promotes a proactive and dynamic approach to financial management. From automatic real-time reconciliation and user-friendly bank synchronisation to easy-to-understand dashboards and collaborative tools, Odoo empowers organisations to make quick and accurate decisions. It sets a new standard for efficiency and transparency in the world of accounting software.

Let's explore the features that make migrating to Odoo 17 Accounting worthwhile. 

Country-Specific Financial Packages:

In Odoo, fiscal localisation packages are modules designed for specific countries. They come pre-configured with taxes, fiscal positions, chart of accounts, and legal statements tailored to the regulations of each country. With Odoo 17 Accounting Localisations, 9 new countries have been added, bringing in over 400 new features.

Efficient Document Management:

The integration of the Documents App with Accounting in Odoo allows you to send multiple PDF documents via email. Upon activation of the feature on the journal, Odoo will automatically separate vendor bills from the PDF files. Take advantage of keyboard shortcuts for a quicker document-splitting process:

Ctrl + K for an overview
Shift + Arrow to navigate between different pages
'S' to split or unsplit documents

Streamlined E-Invoicing:

Odoo has officially integrated with the PEPPOL network, reaching the P access point. This integration enables users to send invoices, bills, and credit notes directly through the platform. Simplify the invoicing process by registering on the Pan-European Public Procurement Online (PEPPOL) network. This ensures compliance with electronic invoicing regulations in various countries. 

Efficient Bank Reconciliation:

Say goodbye to manual bank statement imports with Odoo's Smart Bank Reconciliation. It seamlessly integrates with 28,000 banks worldwide, making the process hassle-free. 

OCR & AI Magic - Experience a 95 percent automatic match of transactions with financial records, reducing the need for manual intervention.

Zero Data Entry:

Thanks to advanced AI-powered invoice data capture, with a recognition rate of 98 percent, users only need to validate the invoices.

Mobile-Friendly Accounting:

Odoo 17 Accounting app is now mobile-friendly. Capture expense receipts with photos, and let Artificial Intelligence fill in the relevant details.

Payment Scam Protection:

Odoo verifies vendor bank account numbers to ensure safe transactions. If a vendor is deemed risky, the system generates a warning during transfer creation.

Branch Management Made Easy:

Efficiently manage accounting for business units or branches within multi-company hierarchies. Enjoy different tax reports, diverse branding components (pdf & invoice layout), enhanced access rights granularity, and seamless integration with the existing company and environment.

From Peppol e-invoicing to creating vendor bills through OCR from scanned documents, smart reconciliation, and simplified tax returns, Odoo Accounting has a lot more to offer.

Alex Forsyth is an expert Odoo ERP consultant associated with an official Odoo gold partner in Australia, Envertis Software Solutions. In this article, the author has outlined the key features and benefits of the new and advanced Odoo 17 Accounting application or module.