Skip to Content
Home └Accounting and Invoicing └Payments and outstanding accounts

Accounting and Invoicing

0 %

Completed

Course content

Payments and outstanding accounts

80 XP
Prev Next
Fullscreen Share

In this video, learn about Odoo's payment statuses and how to manage your payments.

Rating
1 0

There are no comments for now.

Join this Course
to be the first to leave a comment.

1. What are outstanding accounts used for?
They are temporary holding accounts used to mark unpaid invoices and bills for the aged receivables and aged payables reports. They are temporary holding accounts used to record the registered payment of an invoice or bill until the payment can be reconciled with the bank transaction. They are temporary holding accounts used to balance the registered partial payment of an invoice or bill until the full payment is made. They are temporary holding accounts used for batch payments.
2. When is an invoice or bill marked as “Paid” in Odoo?
When any payment is made on the invoice or bill, regardless of the amount. When the full payment or the invoice/bill itself is reconciled with the bank transaction. When the full payment is registered and linked to that invoice or bill. When the full payment is registered.
3. What is the purpose of the “Group Payments” option?
To have all invoices or bills under one single payment. To have only one payment per partner instead of per bill. To group up bills by payment type. To group all reconciled payments into one group and all unreconciled payments into another group.
4. How does using the “Pay” button on an invoice or bill differ from manually creating a payment for the same amount?
The “Pay” button automatically reconciles the payment with the invoice or bill. The “Pay” button automatically reconciles the payment with the bank transaction. The “Pay” button automatically reconciles the payment with the invoice or bill and also automatically reconciles it with the bank transaction. The “Pay” button automatically pays the full invoice or bill amount, whereas manually creating a payment is the only way to register a partial payment.
5. How can I bypass the need for transaction reconciliation in the case of cash payments?
On the Cash journal, set the payment method’s “Outstanding Payments” account to the journal’s main ‘Cash’ account. Then use this payment method when registering the payment. On the Cash journal, set the payment method’s “Outstanding Payments” account to an ‘outstanding’ account. Then use this payment method when registering the payment. Create a manual payment, set the journal to “Cash” and then link that payment to the invoice or bill. On the Cash journal, leave the “Outstanding Payments” account of the blank.