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Accounting basics
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- Quiz
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- Quiz
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Invoicing
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Payments
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- Bank and cash
- Taxes
- Accounting management
- Reporting
- Inventory valuation
- End of period
Inventory valuation
In this video, learn how about the different ways to value inventory, including through manual vs automated valuation methods and through standard cost, AVCO, and FIFO costing methods.
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1.
What are the three costing methods in Odoo?
2.
What is the difference between manual and automated inventory valuation?
In manual, accountants must make periodic journal entries to update the value of the inventory account, but in automated, they do not.
In manual, users have to manually validate deliveries and receipts of products each time products enter and leave the warehouse, but in automated, they do not.
In manual, users have to manually validate customer invoices and vendor bills, but in automated, they do not.
In manual, accountants have to make periodic inventory updates to match the value of the inventory account, but in automated, they do not.
