Accounting
The Accounting module is the financial hub of Odoo 19. It manages invoices, payments, bank reconciliation, reporting, and configuration — all from one place.
What the Accounting module does
The Accounting module handles the complete financial lifecycle of your company. It covers customer invoices and vendor bills, payment registration, bank reconciliation, budget management, asset depreciation, and a full suite of financial reports. All payment data from other Odoo modules — Sales, Purchase, Expenses — flows into Accounting automatically.
Key menu areas
The module is organised into five main menu areas. Customers covers invoices, credit notes, payments, and follow-up reports. Vendors covers bills, refunds, and vendor payments. Accounting covers journal entries, ledgers, assets, budgets, and reconciliation. Reporting covers profit and loss, balance sheet, cash flow, and tax reports. Configuration covers the chart of accounts, journals, taxes, and payment terms.
First-time setup sequence
When setting up Accounting for a new company, follow this sequence: (1) Configure accounting periods and fiscal year under Accounting Periods. (2) Review and complete the Chart of Accounts. (3) Set default taxes for sales and purchases. (4) Add the company bank account. All four steps are accessible directly from the Accounting Dashboard.