Bank Reconciliation in Odoo 10 Community Edition

TOPICS
Introduction
0:00:01
The accounting dashboard
0:00:30
Uploading bank statements to Odoo
0:01:20
The OCA bank statement import modules
0:04:00
Using the reconciliation wizard
0:06:33
Matching the bank fees with write off
0:08:30
Reconcile a partial/deposit payment
0:09:15
Sending money form and respective reconciliation directly in the invoice
0:10:34

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Bank Reconciliation in Odoo 10 Community Edition


While the community edition of Odoo has many built in features, bank reconciliation is a feature that is only available in the enterprise edition of Odoo. In this video you will learn how to reconcile and import your bank statements in the community edition of Odoo using a free OCA module.

Video Length:   14 Minutes

Bank Reconciliation - Odoo Community vs Enterprise

Odoo is very successful for one very important reason. The community version of Odoo is a solid, full-featured business application platform. Several features in Accounting & Finance however are part of the Enterprise edition of Odoo. This includes bank reconciliation features that allow you to automatically import bank statements.

The Odoo Community Association (OCA) adds value

While there are certainly very compelling features to Odoo Enterprise, it is nice to have alternatives for missing features in Odoo community. The OCA has repeatedly delivered important functionality that is not available in the standard community edition of Odoo. Take the time to visit OCA and look at the modules they have to offer. 


Getting started with Odoo Community Modules

This video is for Odoo integrators and those that are comfortable downloading and installing 3rd party community modules. If you are brand new to Odoo or are an end user who is uncomfortable with the technical aspects of installing and configuring Odoo modules you may need some assistance in installing these applications.

Odoo image and text block

Handling Bank Reconciliation in Odoo Step-by-Step

There are several steps you must go through to get bank reconciliation up and going in Odoo. While the video can walk you through the steps in greater detail, the overall process is as follows

  • Download and install the OCA bank statement import module

  • Importing your bank statement information into Odoo Community Edition

  • Using the bank reconciliation wizard to match up your entries

  • Handling the write-offs and other charges

When you are doing a bank reconciliation you are going step-by-step and matching the balances within Odoo's accounting transactions with a corresponding transaction provided in your bank statement. The purpose of this bank reconciliation process is to make sure that all transactions within Odoo match exactly what is expected in your bank statement.  The process then allows you to easily identify these differences and then make the appropriate journal entries to create an accurate adjustment if required. 

NOTE that this feature is not built into Odoo Community. This video demonstrates how you can use a community module to perform bank reconciliation. Bank reconciliation is built-in to Odoo Enterprise.


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