We have been on v8 for about 5 years. We just moved to v11 and decided to finally start looking into accounting. So far we only used Sales, a little bit of Purchase and Inventory modules. We have always noticed though, that in AR there is always a large value for Unknown Partner. It turns out most of them are Inventory Adjustments made to the stock journal at the end of the year when we take stock of all products by counting them and updating. This is a normal practice but for some reason odoo registered those changes in AR. I just learned that i need to create a new Physical Location and set it as Inventory Loss, but Im not sure about the Stock Valuation Incoming/Outgoing accounts to configure at the bottom. What should those values be?
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If you are using Automated Inventory Valuation and the Invoicing or Accounting apps are installed, Odoo will post accounting entries for inventory adjustments. You can control which accounts are used on the Inventory location for Inventory Loss.
You may not be able to see it initially because it is a Virtual Location, so remove the filter (Internal Locations)
Yes it did, but i didnt use that account, I used new ones I created. The only difference between the one automatically created by odoo and the one I created is that i assigned an Expense type account for Incoming and Assets type account for Outgoing.
If you created a new location I think it doesn't work. You need to update the one that is already there.
It's empty. It opens a view where I can create entries but there is nothing listed in there.
Yes my own created account looks quite the same, except the incoming and outgoing accounts are different. I created an expense account for incoming (type inventory loss) and I used assets as the outgoing. But it does not produce an accounting entries as far as I can see.
I just opened the Odoo default Inventory Loss account, which has no incoming or outgoing accounts set, I set both to the same Inventory Loss account and ran another adjustment test. And still no entries.
If there are no accounting entries at all, can you check that the Product Category is set up with Inventory Valuation as "Automated"?
No, all of our categories have manual valuation.
With Manual Valuation, Odoo does not create accounting entries for any inventory movements
try to look here
Sorry, I understand the example. So now when configuring the incoming and outgoing accounts, which account is incoming and which is outgoing and how does Odoo handle each scenario differently? Because accounting-wise, the account configuration would switch depending on whether we are increasing or decreasing the inventory value, does this mean we have to create 2 Locations of type Inventory Loss; one for excess product and another for missing product?
I just created the location and made an adjustment to inventory and it registers as an inventory reduction in quantity on hand and inventory valuation in Inventory Module. I can also see the adjustment Inventory module Product Movement report as going from an internal type location to a virtual inventory loss type location. I forced the adjustment to today's date April 30, but when i generate my P&L report it doesnt show up as an expense even though the inventory adjustment accounts set as:
AdjustInventory(Deficit)
Incoming-AdjustmentAccount type expense
Outgoing-Inventory account type assets
AdjustInventory(Surplus)
Incoming-Inventory account type assets
Outgoing-AdjustmentAccount type expense
But when I generate the P&L there is no movement in the expenses. So I decided to make a movement in the other direction (adding one) and the results are the same, operation appear in Inventory > Product Movement report but not in P&L.
