An accounting journal is a record of transaction exchanges requested by date, these transactions are recorded in the name of journal entries. Each journal entries show account names and their credits and debit values.
❖ An accounting journal is a record of transaction exchanges requested by date, these
transactions are recorded in the name of journal entries.
❖ Each journal entries show account names and their credits and debit values.
❖ In Odoo we can create different types of journals.
❖ These are the basic five types of journals in Odoo. Each journal types have different rules
❖ However, one can also add different journals in Oodo.Go to Accounting > Configuration >
Accounting > Journals.
❖ Upon clicking Journals, you will be navigated to a new window, where Odoo enlists with
different Journal Types like Customer Invoices, Vendor Bills, and more.
❖ Upon clicking the create button, you can add a new accounting journal in Odoo.
❖ Then from product page, setting newly created account as income account for that product.
❖ The creation form includes:
Journal Name: The field defines the name of the accounting journal.
Type: There are five types of journals in Odoo.
● Sale: Select Sale for customer invoice journal.
● Purchase: Select Purchase for Vendor Bills
● Cash: Select cash for journals that are used in customer or vendor payments.
● Bank: Select Bank for journals that are used in customer or vendor payments.
● General: General for miscellaneous operations journals.
❖ Under Journal Entries Tab:
Short Code: Odoo will create a sequence number for each journal we create. Journal entries of
this journal uses this short code as the prefix of generating sequence.
Next Number: The next sequence number will be used for the next invoice.
Default Debit Account: It is the default account for debit amount.
Default Credit Account: It is the default account for credit amount.
❖ Communication type - You can set here default communication,that will appear on
customer invoices, once validated, to help the customer to refer to that invoice for making
❖ Communication Standard - Models for different references,By default it will be odoo
❖ Account Type allowed : Account type allowed for this journal
❖ Accounts Allowed : Accounts allowed for this journal
❖ Lock posted entries with Hash : If it is enabled the invoice/accounting entries get hash as
soon as validated and cannot edit anymore
❖ Configure email server - You can configure email server for this particular journal
❖ Let’s create a new one with Type, short code and company
❖ Let’s create journal entries for this journal from Accounting > Journal Entries > Create
❖ As a result we will get a popup like below.
❖ This is the only way to delete a COA once the transaction has been recorded.
❖ We can use this journal for creating invoice and so on.
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