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What happened to Anglo Saxon accounting in v19? It is in the documentation but not on demo.odoo.com or and any of the Enterprise Runbots?
You also cant seem to asign a different stock valuation account based on the product categrory like previous versions?
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There is no longer a configuration option to activate / deactivate Anglo Saxon. Instead you choose the Inventory Valuation Method.
Perpetual (at invoicing) = Anglo Saxon.
You can now review the Stock Variation Account for each Product Category, the Stock Account is where you define the Valuation Account.
For full details, please review this video:
https://youtu.be/jqMwAkv1f3g?si=SC1VRBjItt01GBEk
Hi,
Anglo-Saxon accounting is a method where the cost of goods sold (COGS) is recognized when products are sold or delivered, rather than when they are received into stock. This approach aligns with accrual accounting principles and is particularly useful for businesses that manage inventory and sales separately.
Hope it helps.
It actually deals with stock on both the timing of COGS as well as the timing of recognizing inventory valuation.
That is why, in previous versions when you enable Anglo Saxon, you specify both Interim receipt and Intermin delivery accounts, which are still there in Odoo 19 Chart of Accounts, but the setting is missing to use it.
I think this change is not correct, Odoo was first started as I know around 2010, and after 15 years still doing changes in the core of accounting, this is unacceptable, as a certified SAP and Microsoft ERP consultant I can say that; such concepts cannot be changed in every patch/version. now by this change:
When you deliver goods to a customer (without invoicing yet),
→ there’s no journal entry, so inventory doesn’t decrease in the balance sheet.
When you receive goods from a vendor (without the bill yet),
→ there’s no journal entry, so inventory doesn’t increase in the balance sheet.
𝗥𝗲𝘀𝘂𝗹𝘁
Your stock valuation reports show correct physical quantities and value,
but your balance sheet doesn’t reflect that movement until the invoice or bill is posted.
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Thanks for your reply but I already checked all of that. I'd actually appreciate an answer from Odoo as it clearly is an omission in the build. I am VERY familiar with Anglo Saxon - been using it for a long time and yes, I am an Odoo 18 certified consultant in case you wondered.
Here is the v19 documentation of where to find the setting
demo.odoo.com (in debug)
This is the section it should be in according to the documentation for v19 (which in this regard is the same as it was in v18)
Hey Ray,
I'm sorry but that doesnt make sense at all. You cannot recognise inventory valuation at invoice stage. You need to recognise it at receipt level as the invoice in most cases comes later then the stock you receive. This is actually according to GAAP, which clearly states it should be recognised when you physically receive it, hence why you have GRNI (good received not invoiced) accounts (now missing from Odoo 19 but still clearly in the v19 documentation)
In V 19 Community Edition the perpetual (at invoicing)/Anglo Saxon is not working perfectly too. I can not do inventory adjustment or update quantity on hand for products/goods belong to product category that have perpetual inventory valuation. I am afraid this is a bug.
>> You cannot recognise inventory valuation at invoice stage.
We disagree. (and Auditors who used to work for several of the Big 4 who I have discussed this with do not have a problem with us doing this and accruing for balances to be invoiced in the following period).
The actual governing principle for inventory recognition (under both GAAP - ASC 330 and IFRS - IAS 2) is not "physical receipt" but the transfer of control and the risks and rewards of ownership.
Source:
https://www.ifrs.org/issued-standards/list-of-standards/ias-2-inventories/
https://www.fasb.org/page/document?pdf=ASU+2015-11.pdf&title=UPDATE%202015-11%E2%80%94INVENTORY%20(TOPIC%20330)
GAAP and IFRS only state that inventory received or delivered by recognized in the same accounting period in which the exchange of goods happens. Our accrual entries correctly account for expected cost of goods or expected accounts payable in the event the customer invoice or vendor bill is posted in a subsequent period.
I guess most of Indonesian clients will also surprise for this. and worry they will move. Please dont change something that have been settled for them, give the option. Trust me this will be a big issue. I love Odoo.