In Odoo, a Branch is part of the same legal company, while a Company is a separate legal entity.

• Branch shares the same chart of accounts, currency, and taxes with the parent company — ideal for multiple offices or stores in one country.
• Company has its own accounting, taxes, and currency — required for legally independent or foreign entities.

Use Branch for centralized management within one fiscal system.

Use Company when operations differ by country, tax ID, or legal structure.

Read more.

Hi,

Branch on Accounting

Under accounting, we can use multiple journals for all kinds of accounting operations.

Branch features can be used inside the accounting module by installing the multi-branch application. This application allows the user to set branches for journals and use separate journals for each company branch. On creating a new customer/vendor

Payment the user’s default branch will be selected as the payment branch. The journal for the payment will be set according to the chosen branch for the payment. The same strategy will be used if the user creates a new invoice/vendor bill.

To know more about multi-branches in odoo please refer the blog:

https://www.cybrosys.com/blog/multi-branch-operations-setup-management-with-odoo

Regards