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accountingreconciliationquickbooks18.0
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Jacqueline Gleason

Are there any other businesses on here that enter and match (or reconcile in Odoo speak) transactions on a weekly or as needed schedule? If so, have you found a way to then do a bank statement reconciliation at the end of the month in a similar manner to QB? I’ve been running a trial balance report for the month and comparing opening/closing balance and credits/debits to the bank statement, but I’d love to find a more formal, documented way to do it within Odoo 18.


Thank you.

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Cybrosys Techno Solutions Pvt.Ltd
Best Answer

Hi,


To achieve a formal bank reconciliation in Odoo 18 similar to QuickBooks, despite weekly transaction matching, create a "dummy" bank statement at month-end. This statement includes the opening balance, total matched deposits, and total matched withdrawals from Odoo, mirroring the bank statement. Use Odoo's reconciliation feature to match these summary lines to existing journal entries.


Document the process with a checklist and record reconciliation details (date, reconciler, explanations) in the bank statement's "Internal Notes," attaching supporting documents. Utilize Odoo's trial balance and journal audit reports. If possible, automate with bank feeds and matching rules. This provides a documented, integrated reconciliation process within Odoo, ensuring accuracy and an audit trail.


Hope it helps



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