In Odoo 13 Analytic Account mainly used for costing purposes. Odoo 13 Analytical Accounting uses businesses to track and record for their budgeting and financial statements.
2. How to Enable Analytical Accounting in Odoo 13
In Odoo 13 Analytic Account mainly used for costing purposes. Odoo 13 Analytical
Accounting uses businesses to track and record for their budgeting and financial
statements.
It is a very flexible term used in majority sectors inside a company. Odoo Analytic
Accounts are used several modules like Project Management, manufacturing- production
management, human resource expenses, administration management, etc.
Analytical procedures are used in the financial audit to assist in the understanding of
business operations and in the identification of potential risk areas that need to be
addressed.
Analytical procedures involve comparisons of different sets of financial and operational
information, to see if historical relationships are continuing forward into the period under
review.
3. Analytic accounting is flexible and easy to use over Odoo applications like sales,
purchase, timesheet, production, invoice, etc. In this Blog, you are going to discuss
“How to Enable Analytical Accounting in Odoo 13”.
Analytical Accounting main purpose is to track expense and revenue accounts by
categories in order to derive profit and loss by activity.
Configuration:
First of all, now you can install the Accounting app in your database.
Analytical accounting tools are similar to, but not the same as, general accounting
software, although some general accounting programs include basic analytical
functionality. Analytic accounting helps you to evaluate costs and revenues
everything the use case.
4. Go to Accounting -> Configuration -> Setting -> and tick the checkbox of
Analytical accounting then click on the Save button.
5. At that time go to Accounting -> Configuration -> Analytic Accounting ->
Analytic Accounts -> and click on the Create button:
6. Type the Analytic Account name, select the customer name if needed and Save the
details. In this Analytical Account, you can point out all the income and expenses.
7. -To Create an Expense Account:
Firstly you have to create an expense product.
Go to Expense module -> Click on the Create button to create expense product.
Now you can check your project tracking sheet via analytic account cost/revenue report
and you can select the [FURN_7777] Office Chair product and link it to the analytical
account discussed above.
8. To Create Customer Invoice with Customer:
Whenever you want to have record a Customer Invoice, go to Invoicing – >
Create a
Customer Invoice.
Now you can enter the following fields like customer details and click on the
button of add an item, at that time you can select the name of your Analytical
account.
Enter the customer details and click on Add an Item. Also, you can choose the
Analytic Accounting option over there.
To Track Costs/Revenue in Accounting
Now you can, go to Invoicing -> Configurations -> Analytic Accounts -> and
choose the account which you have created.
At that time click on the Cost/Revenue button:
9. At the same time, you click on the cost and revenue button to view an overview of
all costs linked to the account.