Hi, I'm struggling to implement a group company consolidation within Odoo version 19 using the official documentation that has been made available. Has anyone been able to do this successfully? If so, can you please share how this was done? Thank you so much for your assistance.
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Hello Mark, I can certainly help guide you through the consolidation process in Odoo 19.
First, ensure that all subsidiary companies are properly configured in Odoo with their respective charts of accounts and reporting periods.
Next, set up the consolidation journal. This journal will serve as the destination for all consolidated entries. Make sure it's configured to handle intercompany eliminations correctly.
Then, define the consolidation period within the consolidation module. Align this with your group's reporting cycle (monthly, quarterly, annually).
After that, import the data from each subsidiary into the consolidation journal. Odoo should automatically handle currency conversions based on the rates you've defined.
Finally, perform intercompany eliminations to avoid double-counting transactions within the group. This step is crucial for accurate consolidated financial statements.
For personalized assistance:
https://www.pragtech.co.in/contact-us-mql.html
I'm battling to implement a consolidation using the instructions provided. The instructions do not cover where the group company is created and where the consolidation entries are passed.
Hi Sandeep. Thank you very much for the response. Odoo unfortunately did away with the Consolidation Module with version 18 so this is not available to be used.
Are you reviewing the documentation at https://www.odoo.com/documentation/19.0/applications/finance/accounting/get_started/consolidation.html ?
There is no need to create companies or entries, what you create are ledgers that filter existing data, ideally because it was transacted through different ledgers if it needs to be elimated.
I would also recommend watching https://www.youtube.com/watch?v=IeEyvOr2Kmc
Also note, that answering a question does not notify anything other than OP - I happened to see your answer by change
Thank you, Ray. I am reviewing the documentation at https://www.odoo.com/documentation/19.0/applications/finance/accounting/get_started/consolidation.html. It does not provide any details on how to pass the journals to eliminate intercompany balances (inter-company loan accounts etc.) on consolidation.
Re creating ledgers that filter existing data, how would one pass journals between the different companies to eliminate inter-company entries.
Thank you for sharing the video. I will take a look at this.
The video link you posted is 5 years old and the App it explains is no longer available.
Hello Mark, consolidating group companies in Odoo 19 can be tricky, but it's definitely achievable!
First, ensure that all your subsidiary companies are correctly set up within Odoo as separate companies under the same database.
Next, verify that the chart of accounts is harmonized across all companies. Consistent account structures are crucial for accurate consolidation.
Then, use the "Consolidation" module. Define the scope of consolidation, specifying which companies are included and the consolidation period.
After that, configure the consolidation journals. These journals will record the consolidation entries, eliminating intercompany transactions.
Finally, run the consolidation process. Odoo will automatically aggregate the financial data based on your configurations.
For personalized assistance:
https://www.pragtech.co.in/contact-us-mql.html
The Consolidation App is not available in Odoo 19.0 or Odoo 18.0
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Can you define "struggling" for readers - do you understand how it works? Are you getting an error? Are you getting the wrong totals? Something else?