Odoo is the world's easiest all-in-one management software. It includes hundreds of business apps:
CRM | e-Commerce | Accounting | Inventory | PoS | Project management | MRP | etc.
If I create a PO of Office rent for 1 year,then paid upfront (for all 12 months)
Is there away for odoo to create an accounting entry every month with the cost of rent (1 month)? I'm new to odoo and I'm not really sure how to do it or if this is the corrent way to record prepaid office rent, any help is appreciated
YOu need to make the difference between the periodic expense recognition into your books AND the fact that you paid in advance for 12 months.
At he time you paid:, the entries are:
Debit the OWNER'S ACCOUND FOR THE TOTAL PAYMENT
CREDIT BANK ACCOUNT
Then, your monthly recording of the expense (which you can do using the recurring process from Odoo,) will be:
Credit the owners'account (balance sheet account; like a supplier)
Debit the profit and loss account (P/L) which might be named "office rental"
This is excatly what you need to set up in Odoo for the recurring entry
At the end of the year the owner's account should show a NIL balance and you office rental account will show a total expense for the 12 months.
About This Community
This platform is for beginners and experts willing to share their Odoo knowledge. It's not a forum to discuss ideas, but a knowledge base of questions and their answers.Register
Odoo Training Center
Access to our E-learning platform and experience all Odoo Apps through learning videos, exercises and Quizz.Test it now
|Asked: 5/29/16, 11:23 AM|
|Seen: 470 times|
|Last updated: 6/1/16, 6:59 AM|