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odoo accounting v14 pos v15

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Shareholders Equity (common stock) missing from default chart of accounts (United Kingdom)

accounting

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Leon Chadwick

The cheat sheet clearly lists an account and entry on the balance sheet for Common Stock:

www.odoo.com/documentation/18.0/applications/finance/accounting/get_started/cheat_sheet.html

I don't have an account to enter common stock, so I created one with code 310005.
When I generate my Balance Sheet report, the common stock is being reported as "Retained Earnings".

What code range does the UK chart of accounts have setup for the common stock/equity?
Why does the UK defaults not already have this account for common stock (or perhaps it does, but under an obscure name?)

Jacqueline Gleason

Having the same issue and freaking out since this was not the way it was handled in Odoo 16.

Roger Brugger

I hope we soon find a solution for this problem.

Jacqueline Gleason

Nejlepší odpověď

1. To access this, you will need to enable Developer Mode. Then, navigate to your Balance Sheet, and click on the cogs at the end of the header bar. This will open the Accounting Report view of the Balance Sheet.
2. To implement a Preferred Equity account in Odoo 18.0, you first need to add a line to your balance sheet.
3. Name the line "Preferred Equity" and set the level to 5 so that it is indented enough to appear below other equity items, then drag it below Retained Earnings.
4. Next, create a new line and label it "Balance."
5. Set the computation engine to Odoo Domain, and use the formula [("account_id.name", "ilike", "Preferred Equity")] to grab any chart of account that contains "Preferred Equity" in its name. Set the subformula to -sum in order to have a subtotal of the accounts, and set Group By to account_id.
6. After that, update the formula for Current Year Retained Earnings so that Preferred Equity is not counted twice. The formula to use is ["&", ("account_id.account_type", "=", "equity"), ("account_id.name", "not ilike", "Preferred Equity")].
7. Finally click into retained earnings…
8. …update the formula to include the code of the Preferred Equity account. This will ensure that the total equity reflects both retained earnings and preferred equity.

If you need to make a few distinctions for accounts that don't get rolled into REs, each time you add another item to Preferred Equity, you will also need to add an inverse condition to the Retained Earnings formula to ensure it is not counted twice. For example:

["&", "&",
("account_id.account_type", "=", "equity"),
("account_id.name", "not ilike", "Preferred Equity"),
("account_id.name", "not ilike", "Insert Text")
]

You must add another "&" at the beginning for every additional condition you include in the domain.

Thank you.

Roger Brugger

I just share my edits on the above which made everything work for me. Thanks Jacqueline!
See the loom video for more details.

https://www.loom.com/share/e942ea944234487bab4d9bde78b87b3f
Odoo 18 Share capital: Avoiding it to be put under retained earnings 😊

I justed added some steps

I worked with the Odoo dev team for two days on this and have a fix. I believe they are working on a wider update but this will work for now. I'm not elevated enough on support to add pics so it'll just have to be step-by-step for now. See below:
0. You need to define your share capital account correctly. Check on you CoA how you name it. For me it is “Share Capital” – if its a different name – please change below each instance where it says Share Capital to your own name.
1. To access this, you will need to enable Developer Mode. Then, navigate to your Balance Sheet, and click on the cogs at the end of the header bar. This will open the Accounting Report view of the Balance Sheet.
2. To implement a Share Capital account in Odoo 18.0, you first need to add a line to your balance sheet.
3. Name the line "Share Capital" and set the level to 5 so that it is indented enough to appear below other equity items, then drag it below Retained Earnings.
4+5 not used.
6. After that, update the formula for Current Year Retained Earnings so that Share Capital is not counted twice. The formula to use is ["&", ("account_id.account_type", "=", "equity"), ("account_id.name", "not ilike", "Share Capital")].
6. We have changed the above 6.
[('account_id.code', 'in', ['301010'])]
Imporant on the label balance – ensure that its a b not a B.

7. Finally click into retained earnings…
8. …update the formula to include the code of the Share Capital account
[('account_id.account_type', '=', 'equity'), ('account_id.name', 'not ilike', 'Share Capital')]
This will ensure that the total equity reflects both retained earnings and Share Capital.
If you need to make a few distinctions for accounts that don't get rolled into REs, each time you add another item to Share Capital, you will also need to add an inverse condition to the Retained Earnings formula to ensure it is not counted twice. For example:
Not needed:
["&", "&",
("account_id.account_type", "=", "equity"),
("account_id.name", "not ilike", "Share Capital"),
("account_id.name", "not ilike", "Insert Text")

[('account_id.account_type', '=', 'equity'), ('account_id.name', 'not ilike', 'Share Capital')]

9 do the same for previous years retained earnings to remove as well the share capital account
[('account_id.account_type', '=', 'equity'), ('account_id.name', 'not ilike', 'Share Capital')]

10. On Equity add the last part:

UNAFFECTED_EARNINGS.balance + RETAINED_EARNINGS.balance - SC.balance
Note the SC is coming from the ‘Code’ field on Share capital which is called SC
Attention prefix is a “minus”

Visions Africa Ltd

Can I ask how this was resolved? Because share capital can never become retained earnings. I don't know who at Odoo approved this change - complete beginner error???

Now we all need to manually change the system? Doesn't make sense either but I need to do it for our customers. Happy for any solution on this.

Jacqueline Gleason

I'm working with Odoo developers as we speak. I will report back here by EOD. Thanks.

Cybrosys Techno Solutions Pvt.Ltd

Hi,

In Odoo, the Balance Sheet is structured using account tags rather than just account codes. The UK chart of accounts that ships with Odoo follows UK GAAP conventions, so you won’t find a “Common Stock” account like in US accounting. Instead, equity is represented through accounts such as “Called Up Share Capital,” “Share Premium Account,” and “Other Reserves.”

When you created your own account with code 310005, Odoo placed it under Retained Earnings because it wasn’t linked to the proper equity tag. This happens since Odoo uses those tags to decide where accounts appear on the Balance Sheet report.

In the UK CoA, equity accounts usually fall in the 300000–399999 range. To align with UK standards, you should either use existing accounts like “Called Up Share Capital” or assign the correct tags to your custom account. This ensures it shows up under the right Equity section instead of Retained Earnings.

Hope it helps

Leon Chadwick

Autor

The screenshot from Chris Tringham shows a structure of the calculation, where can I access that structure? (I am presuming there is some way to edit it once I know where to look at that)
What will be needed achieve the layout I expect showing common stock as its own line under Equity, as per the cheat sheet (and what I would expect on a set of accounts anywhere)?
Whatever those steps are, will they something all users are expected to setup, or is this some error in the UK defaults as it feels like this should already be in place for me?

Chris TRINGHAM

Hi Leon - I updated my answer - it looks as if this has been changed in v18

Chris TRINGHAM

The code range doesn't really matter, it's the formula (and labels) on the Balance Sheet that control this.

In v17, the "Retained Earnings" line is the sum of the balances of all the Equity accounts:

I assume your new account is of type Equity, so indeed it will be included in Retained Earnings.

You can change the structure of the Financial Reports in the Settings menu (this is v18):

Note that in v18 there are two lines for Retained Earnings, current year and previous years but it does not separate out the Common Stock. In v17 there is one line.

Unfortunately, Odoo documentation is sometimes like that - the "Cheat Sheet" is helpful but doesn't quite match up with current system!

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