Odoo Accounting allows users to generate various reports, manage budgets, track assets, and perform accounting activities like recording transactions. Key reports include profit and loss, balance sheet, cash flow, and aged receivables/payables. Budgets can be defined based on criteria and compared to actuals. Assets management tracks purchases and sales of fixed assets and computes depreciation.

2. Odoo 13 Accounting | Budget |
Assets | Accounting Reports
Odoo Accounting is used for storing, sorting, retrieving, summarizing, and
displaying the results in several reports and analyses. Odoo Accounting is one
of the required functions for almost any business.
In Odoo Accounting various types of reports can be generated like Profit and
Loss Report, Balance Sheet Report, Executive Summary Report, Cash Flow
Statement Report, Partner Ledger Report, Aged Receivable Report, Aged
Payable Report, General Ledger Report, Trial Balance Report, Consolidated
Journal Report, Tax Report Journal Audit Report, Assets Reports.
In Odoo there are two various methods used to record accounting transactions
like Case basis and Accrual basis accounting.
In Cash Basis Accounting, Revenue is recorded only subsequently payment
received and expenses are recorded at the same time payments are made.
Income or revenue is recorded at the same time payments are received.

3. The cash basis of accounting does not recognize accounts receivable or
accounts payable. In Accrual basis accounting, revenue is accounted for
at the same time it is earned.
This type of accounting includes all-expense and all income. Typically,
revenue is recorded before any money changes hands.
Budget in Odoo 13:
Budgets can be defined based on multiple criteria, such as
departments, cost centers, cost types, commodity groups, users, and
combinations of these. In Odoo Budget management is used to know
your financial status against the planned financial details.
First of all, you can install the Accounting and Finance Module in your
database.

4. -To enable budget management feature in Odoo:
Go to Accounting -> Configuration ->Settings and tick the checkbox of
‘Budget Management’ and ‘Analytic accounting’ then click on the Save
button.

5. Now you can configure the three things to work with Odoo budget
management
1.Budgetary Positions
2.Analytic Accounts
3.Budget
1. Budgetary Positions
Budgetary positions are the general accounts for which you want to keep
budgets like expense or income accounts. After enabling the budget
management feature then you can create the budgetary positions.
Go to Accounting-> Configuration ->Management -> Budgetary Positions

6. Now you have to enter the name of the budget and add the items to select
the account.

7. At that time you can add the following fields in accounts section like code,
name, type, default taxes, tags, group.

8. 2. To set Analytic Accounts
Now let us see the configuration of the budget. At that time you can create an
analytical account by entering the Accounting module.
Select Accounting Menu -> Advisers -> Analytic Accounts -> Open
Charts and click on Create button.

9. 3. To set a Budget
Select Accounting ->Advisers -> Budgets -> Create New Budget
Now you can enter the name of the budget and create budget lines to
click on add an item button.

10. At that time you can select the Budgetary Position related to the budget
lines and set the start date, End date, Paid date, Planned amount,
practical amount and Theoretical amount.

11. Now you’ll need to confirm and approve the budget.

12. Assets:
Odoo 13 Asset management introduces to the purchase of assets. In Odoo
13 Asset management enables the user to track fixed assets like
manufacturing tools, vehicles, land, etc.
The user can purchase, sell and handle depreciation of assets regarding
Odoo. Odoo Asset Management is used to define the category of an asset,
classify assets to compute the depreciation managing different methods, and
create an accounting entry for the depreciation at the end of every financial
year.
First of all, you can create an asset at that time, create the asset type, for that
go to Accounting-> Configuration -> Asset Types.
At that time, you can create the asset by clicking on the create button in
assets.

14. After creating the Asset. Now you can click on the Compute
Depreciation button to check the depreciation board before confirming
the asset.

15. Once we have created an asset, we should confirm it. We can also click on
the Compute Depreciation button to check the depreciation board before
confirming the asset.
>>Now you can sell or dispose of the asset by clicking on the Sell or
Dispose button on the status bar. It will create a journal entry to post the full
expense of the asset.
>>Now you can set to draft the asset by clicking on the button Set To Draft
button.
>>You can pause depreciation of the asset by clicking on the Pause
Depreciation button.
>>Whenever you want to modify the depreciation of an asset, Now click
on the Modify Depreciation button and provide the values accordingly.
>>At that time you can create on the asset model name by clicking on the
Save Model button.

17. Accounting Reports
Now you can see the various kinds of Accounting Report
Method:
1.) Profit and Loss Report
2.) Balance Sheet Report
3.) Executive Summary
4.) Cash Flow Statement Report
5.) Check Register
6.) Partner Ledger Report
7.) Aged Receivable Report

18. 8.) Aged Payable Report
9.) General Ledger Report
10.) Trial Balance Report
11.) Consolidated Journal Report
12.) Tax Report
13.) Journal Audit Report
14.) Assets

19. 1.) Profit and Loss Report
In this type of report, the business that access revenue and expense reports of
a company during an appropriate period of time.

20. 2.) Balance Sheet Report
In this type of report, the companies can obtain all the information about
liabilities, assets, and equity of the balance sheet.

21. 3.) Executive Summary Report
In this type of report, The executive summary analyzes the cash flow,
profit & loss, balance sheet, and performance of the reports.

22. 4.) Cash Flow Statement Report
In Odoo this type of report, is used to displays wherewith changes in
balance sheet accounts and income affect cash and cash equivalents.

23. 5.) Check Register Report
In this type of report, it is a document on which is represented the payment
dates, check numbers, payment amounts, and payee names for all check
payments.

24. 6.) Partner Ledger Report
In this type of report, you can find all the details of current open balances,
Debit & Credit details, and Journal details you have selected with any
customer that will be displayed in the partner ledger.

25. 7.) Aged Receivable Report
In this type of report only introduce receivable invoices. An Aged Receivable
Report is used to displays the unpaid invoice balances on with the duration for
which they have been outstanding. An Aged Receivable Report enables you to
see the balances that are payable to your company by customers.

26. 8.) Aged Payable Report
In this type of report is used to see the balances you payable to other
companies for stocks, inventory, and services your company gets.

27. 9.) General Ledger Report
In this type of report, now you can shows all the transactions in your
organization from all the accounts as detailed below.

28. 10.) Trial Balance Report
In this type of report is used to check the balance state is equal or not. At the
same time, the total debt amount and credit amount of your business in
balance state are equal i.e. balance sheet is agreed. Unless it means that few
errors have obtained while preparing the accounts.

29. 11.) Consolidated Journal Report
In this type of report, you can only run this report whenever your
consolidation handles the Transactions method and this method is not
used the create summary journals run option.

30. 12.) Tax Report:
This type of report illustrates the consolidated tax report on sales and
purchases within the reporting period.
13.) Journal Audit Report
This type of report describes all the transactions of your business according to
accounting journals. At that time, you can choose the journals to be
presented in the report and based on that report is performed.

31. 14.) Assets
This type of report displays a summary of the asset. you can view the
different forms like pivot analysis and the graph view of the asset as shown
below.