How to Setup Company Data in Odoo 17 Accounting App
- 1. How to Setup Company Data in Odoo 17 Accounting App Enterprise
- 2. Introduction Enterprise The Accounting module in Odoo 17 is a comprehensive tool designed to manage all financial aspects of a business. It provides a range of features that help with everything from day-to-day bookkeeping to advanced financial analysis. In addition to the general Accounting features, it allows the things like Invoicing, Tax Management, Financial Reporting, Compliance and Localization, etc for the company. Configuring company data in Odoo Accounting is an essential first step to ensure that your financial records align with your business structure and local regulations.
- 3. Enterprise Setting up the Company Information We can configure multiple company details for a single database of a company in Odoo 17. There are two methods to do this. The first way is to click on the Update info button under the Companies section from the Configuration Settings.
- 4. Enterprise On clicking this, we’ll be directed to the page where company data is saved. The second method is to directly access the menu Settings ->Users & Companies -> Company. Here, we can retrieve comprehensive details for each company, encompassing information such as Company Name, Partner and Branches. The default view will be the tree view. Here, there is only one company detail given. We can create multiple companies separately or as branches.
- 5. Enterprise On clicking the New button, we’ll be able to give detail for a new company.
- 6. Enterprise Give the Company name as needed. Then, under the ‘General Information’ tab, give the company Address details such as Street, Street2, City, State, ZIP, etc. And the Tax ID, Company ID and Currency can also be set. Also, fill in the details like Phone, Mobile, Email, Website on the right side. Fill in the field Parent Company if the company under creation is to be set as a branch company. The account details of Social media platforms can be filled so that those will be shown to the website for the users. Under the ‘Branches’ tab, we can configure the branch companies. This can be done by clicking the ‘Add a line’ button shown there.
- 7. Enterprise Here, we’ve created two branches DEF Company and GHI Company for the newly created ABC Company. The ABC Company has 2 branches and the Your Company has no branch so far.
- 8. Enterprise Thus, the whole setup can be seen as On clicking on the current selected company name(here, Your Company) from the top right next to the logged person, we can just click on the needed company from the hierarchical view so that the whole operations can be switched for that selected company.
- 9. Enterprise Now we have the capability to generate Accounting periods, Bank accounts, Charts of Accounts, and Taxes specifically for the "Your Company" directly from the Accounting dashboard in Odoo 17. To establish a Chart of Accounts, the users can select the Review button located beneath the Chart of Accounts section, as illustrated in the accompanying screenshot.
- 10. Enterprise On clicking that ‘Review’ button, the page to set the chart of accounts will be seen. Click on ‘New’ to create new chart of accounts and give the details such as Code, Account type, Allow reconciliation, Opening debt, etc.
- 11. Enterprise Furthermore, you have the capability to oversee comprehensive user data for the accounting module in the Settings window. Go to the menu within the Users & Companies -> Users, where records of all users are accessible. In the Users window, detailed information about each user, including Company, login, Status, Language, Name, and more, is readily available. New users can be created using the ‘New’ button and giving the necessary information for them.
- 12. Enterprise Give the necessary information for the new user such as their Name, Email, and other relevant details. Ensure that the user's email address corresponds to the email domain configured for the company or branch. As a single user can access multiple companies also. For that, the multi company setup is there to fill.
- 13. Enterprise Along with that, we can specify the access rights and permissions for the users. In odoo, we can set these permissions for each module, features and records. These roles can be set for each user separately. For example, here the user can be assigned with any of the roles for the Accounting module.
- 14. Enterprise By following these steps, you can ensure that your company data is accurately configured in Odoo 17's Accounting module, providing a solid foundation for managing your business's finances.
- 15. For More Info. Check our company website for related blogs and Odoo book. Check our YouTube channel for functional and technical videos in Odoo. Enterprise www.cybrosys.com