Odoo Localisation: New Accounting Features In Australia

PEPPOL Integration

The A-NZ PEPPOL BIS Billing 3.0 is available on Odoo. Our users in the A-NZ region can now format, generate, and export files such as customer invoices and credit notes that comply with PEPPOL directly from Odoo.

Standardised Taxation Formats

Odoo has heard you and gone back to refine the format of your taxation documents. In clicks, Odoo users in Australia can now generate exportable pdf taxation papers, including invoices, vendor bills, and credit notes, with more precise indications.

New Stock Valuation Configurations

The Australian default chart of accounts has been reviewed in relation to product category. 

On top of that, you can now keep your books with Anglo-Saxon accounting on Odoo by default. With this new setup, Odoo can accurately recognize both cost and income for businesses that deliver goods once invoices are validated and those that do not invoice at the same time as the delivery of the goods.

Exchange Difference Accounts

Also, Odoo users in Australia can now record gains and losses from currency exchange differences in the bifurcated accounts, as mandated by the ATO. Apart from a more precise presentation of your forex profits and losses for international transactions, this feature will also greatly help manage your assets and liabilities denominated by foreign currency.

Other Localised Features

From Odoo 16 onward, we will be hosting our services in Oceania with a new server in Australia for an even shorter loading time. 

All taxes, tax groups, and fiscal positions have also been cleaned up for enhanced data organisation and management.

Companies can now also add their Australian Business Number (ABN) and Australian Company Number (ACN). 

Another important update is the newly localised fiscal period — the last day of your fiscal period is automatically set to June 30 once you install the localisation module. 

Odoo is also integrated with the digital payment gateway, AsiaPay, to channel your profits from different payment platforms. The "Buy Now, Pay Later" scheme is also available in Australia with Afterypay, humm, and Zip Pay, and Paypal in 4. 

Other existing features you will want to take advantage of are the ABA file export for batch vendor payments and Odoo's eftpos integration with Stripe.

More to Come in the Future

And we don't stop there. 

Our functional team is working towards turning Odoo into a PEPPOL access point and SMP and facilitating the reception of bank sync via Open Banking standards to serve Australia even more efficiently.

Before that, we are actively working on internalising payroll to minimise the need for third-party integrations as much as possible. You can also expect an Odoo integration with Starshipit to manage your couriers, for instance, the Australian Post, LMX, and DHL, by Odoo 17. Stay tuned for more updates in Odoo Australia!

Watch the webinar and demo hosted by our Senior Functional Consultant, Yatin Gupta, to learn more about the new features; schedule a meeting or contact us via Live Chat with the floating icon below!