There isn't anything special you have to do in Odoo to close out a month, you choose a calendar date that you want to lock down the GL (first for everyone else, then for you) and complete your standard to-do list.

Note that in Odoo, Accounts Receivable, Accounts Payable, Fixed Assets, Purchases and Sales all post directly to the general ledger. The transactions and/or reports can never be different from the journal entries. There are only two true sub-ledgers - a payments sub-ledger [Payments Menu] and an inventory sub-ledger [Inventory Valuation Report]. This greatly reduces the amount of work needed for the finance team.

EXAMPLE MONTH END CHECKLIST:

1. Lock the GL for non-advisors and review the following:

Cash:
- Bank / Credit Card Reconciliation   *1

Income
- Payment sub-ledger reconciliation
- Create Invoices for any uninvoiced Sales Orders   *2
- Match outstanding Payments / Credits with open Invoices   *2
- Deferred Revenue Entries   *3
- Customer Followup   *3

Expenses:
- Payment sub-ledger reconciliation
- Match outstanding Payments / Refunds with open Bills   *1
- Accrued Vendor Obligations   *4
- Deferred Expense Entries   *3

Assets:
- Inventory sub-ledger reconciliation   *5
- Depreciation Entries   *3

Liabilities and Equity:
- Sales Tax   *6
- Loan Interest

Correcting Entries:
- Reclass balances   *2, write-off bad debts, etc.

2. Lock the GL for everyone and generate Financial Statements

Note:

*1   Odoo provides widgets to help automate these processes.

*2   Odoo provide wizards to make these entries easier to create.

*3   Odoo can automate the creation and/or posting of these entries.

*4   Odoo can automate the creation, posting and reversal of these entries.

*5   Odoo auto-reconciles most entries based on the Receipt + Bill (or Delivery + Invoice) match.

*6   Odoo's integration with TaxCloud or AvaTax (USA) and the standard Tax Reports (outside the USA) help make this process easier.