3. Fiscal year Define
Accounting >> Periods >> Fiscal Year >> Create >> Fill up Basic information >> Click
“Create Monthly Periods”
Fiscal year is the
length of time for a
accounting time.
Generally it is one
year length.
4. Create Chart of Accounts
Accounting >> Accounts >> Accounts >> Create
Only check “Allow
Reconciliation” option for
Payable and Receivable
accounts. Like Notes
Payable, Accounts
Receivable.
5. >>>
Create Chart of Accounts according to the list
Internal Type (IT): IT is how the
system recognize a particular
account.
Account Type (AT): AT is how the
user want to represent a particular
account in the financial statement.
We can create AT in the system but
cannot configure IT any more.
Your Company Name is the name of
your company define during
company creation.
Code consists
with parent
account code .
Ex. 111 Current
Assets: 11 is for
Assets and 1 Is for
current asserts
8. Things to Mind
Fiscal year define >> Create Chart of Accounts >> Define
Journals. These three are basic requirement for ERP system.
Without configuring these, we can not proceed to any other
module in Odoo.
These three tasks must be do sequential because each one is
dependent to the preceded one.
In Odoo there are some mapping journals with same debit and
credit account. These are called mapping journal. For example
sales journal, purchase journal, cash journal.