How to track costs of purchases, sales, expenses in Odoo
In Odoo Analytic Account mainly used for costing purposes. Odoo 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 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. 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 track and analyze project expenditure in Odoo”.
Enable Analytical accounting
Now activate the analytical accounting.
To Create an Analytical account
Now you have to create an analytical account on which you can point all your expenses.
Go to Accounting module -> Configuration -> and click on create button.
To Create a Project:
Now, you have to create a project. Whenever you tick the checkbox of the analytic accounts project creation activity automatically create an analytic account. You are creating a project with the name “AGR-S0036” which consists of its own tasks and general activities.
View an analytic account is created at the same time and the project has no credit and debit now.
To create an Expanse account:
Firstly you have to create an expanse product.
Go to Expanse module -> Click on create button to create expanse product.
Now you can check your project tracking sheet via analytic account cost/revenue report and you can select the Air flight ticket product and link it to the analytical account discussed above.
To Create a Purchase and Sales Order linked to the analytical account
In the purchase module, creates a purchase order for the software product. Now, you can link the product’s cost with the analytical account. Determine the order line and select the correct analytical account. Then confirm the sale. Now you can accept the delivery order and enter the invoice. At the same time, the invoice is entered the cost price will be booked in the analytical account.
To track costs in accounting
Now that everything is booked and points to the analytical account. Simply open it to check the costs related to that account.
Go to Accounting module, click on advisers.
At the same time, you click on the cost and revenue button to view an overview of all cost linked to the account.