Accounting and Invoicing - Odoo

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Bank Reconciliation

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Learn everything you need to grow your business with Odoo, the best open-source management software to run a company, at https://www.odoo.com/r/NlF. In this video, learn how to reconcile your open items with your payments. Other lessons related to this video: Need more information about Odoo apps? https://www.odoo.com/r/ETl. Discover Odoo, schedule a demo, or start your own Odoo revolution for free (no credit card required), at https://www.odoo.com/r/kASR.

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1. What do the blue lines in the reconciliation matching window represent?

Transactions that have been canceled by the bank due to insufficient funds. Suggestions made by Odoo based on the partner, reference, or amount to help you reconcile faster. New invoices that need to be printed and mailed to the customer immediately.

2. How does Odoo handle a situation where a customer pays a different amount than the invoice due to an early payment discount?

It blocks the reconciliation until the customer pays the remaining difference. It automatically deletes the invoice and marks the loss as "Uncategorized." It recognizes the discount and suggests putting the difference into a specific discount account.

3. What should you do if you encounter a bank transaction and you are unsure which invoice or payment it belongs to?

Select the "To Check" option to investigate it later and keep it visible on the dashboard. Randomly pick any open invoice to finish the reconciliation process as quickly as possible. Delete the transaction from the bank statement so it doesn't affect the balance.

Accounting and Invoicing - Odoo

Bank Reconciliation

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