Thank you Janeesh, But my accounting team want to see opening balances month wise. Can you help me, how i have to show that. I have installed indian accounting system. but in that some accounts are not available those are opening balance, Closing balance, Opening stock, Closing stock. Do you know how to configure openerp with these accounts.

Samba, in that case you will need a reporting engine or a view model (same as OpenERP/Odoo used for analytic view) that will generate the information you need. The data is there, it just need some processing, e.g. taking the sum of all confirmed transactions from the beginning of fiscal year up to a certain date. Note that since OpenERP/Odoo does not have monthly or periodical balance aside from the start of Fiscal Year, the balance of each month/period may change if the there is any transaction being confirmed or cancelled in that and the preceeding months/period. If your accounting team requires that month/period balance to be static, then only generate/check the report after the said month/period and all preceeding month/period been closed, which also mean that no transaction can be made on those months/periods anymore.