Payments and Outstanding Accounts in Odoo 17 Accounting

In Odoo, we have multiple statuses to help keep track of our payments. The 'Paid' status means the customer has already submitted the payment, it is recorded in the system, and the corresponding payment is matched to the invoice.

1. Payments and outstanding accounts Enterprise

2. Introduction Enterpr ise In Odoo, we have multiple statuses to help keep track of our payments. The 'Paid' status means the customer has already submitted the payment, it is recorded in the system, and the corresponding payment is matched to the invoice. If the status is 'In Payment,' the invoice has been sent and is waiting for payment, meaning the invoice is still expecting payment. The 'Unpaid' status indicates that no payment has been received for the invoice, while 'Partially Paid' means that only a portion of the total invoice amount has been paid. 'Outstanding Accounts' are used when manually registering the payment instead of the actual bank account.

3. Enterprise If we want to register full payments for multiple invoices and bills at once, we can select them and click "Register Payment". Then, we have the option to group payments. This way, we will have one payment per partner instead of one payment per invoice or bill.

4. Enterprise If we want to register payments one at a time instead of in bulk, we have two options: Directly from the invoice or bill. Click on the "Register Payment" button when we open an invoice or bill. Edit any of the information as needed.

5. Enterprise The benefit of this method is that the payment is automatically reconciled with the bill or invoice. We can see a payment banner showing ‘IN PAYMENT’, and also view journal entry information from an icon below containing a button to unreconcile.

6. Enterprise The reconcile is just between payment and the invoice or bill. 2) Register the payment manually. Payments menu is available under Customers and Vendors menu. Depending on if its an incoming or outgoing payment we want to register, from there we can create a new payment.

7. Enterprise For example when we confirm a customer payment, and look at an invoice for this partner , we can see a banner telling us that we have outstanding credits that we can allocate to mark the invoice as paid.

8. Enterprise A t the bottom of the invoice, there is a list of outstanding credits from which we can select the one we wish to allocate to this invoice.

9. Enterprise After adding the outstanding credits, we can access detailed information about the payment journal entry by clicking on the information icon. This provides details such as the amount, memo, date, and journal. To access further details, click on 'view' to navigate directly to the payment itself.

10. Enterprise On the payment, we have a smart button that connects to the invoice or bill, as well as another smart button that takes us to the journal entry for the payment.

11. Enterprise In the Journal Entry, we can see that the outstanding account is reflected in the journal items.

12. For More Info. Check our company website for related blogs and Odoo book. Check our YouTube channel for functional and technical videos in Odoo. Enterprise www.cybrosys.com