Budget Management Using Odoo 15 | Odoo Accounting

April 18, 2022

Budget management is essential for companies to improve profit, reduce costs, and increase investment. By analyzing the budget report on a regular basis gives you a complete overview of the financial situation and of the company and performance.

A budget overview can identify the current capital and give you an estimate for the expenditure. You can control the company’s finance and to ensure the company can fund the current commitments by the proper budget management.

In Odoo, by enabling the budget option from the settings, you can view the Odoo budget management menu from the accounting, and you can create a budget by clicking on create button. You can view the existing budget from either the list or kanban view in the budget menu. And you can also filter the Drafts and to Approve budgets separately.

Enable odoo budget management from the accounting configuration as shown below to configure budget management.

Budget Management Using Odoo 15

From the accounting dashboard, click on the budget from the drop-down a page will open as shown below,

odoo accounting

Click on create button to create a new budget, and the list view shows the already created budget.

odoo 15 accounting

  • Enter the budget name and select the period of the budget,
  • You can add budget lines by clicking on adding a line. You can select an already created budgetary position, or you can create a new budgetary position.
  • Click on the Create and Edit button, and a wizard opens as shown below to configure the Budgetary position shown below.

Budgetary position

  • Enter the budgetary position name and select the account of budgetary based on the nature of that budgetary position. If your budgetary position is based on income, then select an income account.
  • From the budgetary lines, each line has a start date and end date. You can select your date period as the start and end date. You can also select the Planned Amount for each budgetary position
  • Based on the actual amount, the theoretical amount will automatically be calculated. Based on the customer invoice creation, budget lines are automatically reconfigured. Let’s look at how budgets and invoices are linked. You can create new invoices from the Accounting menu. Select any customer and product, enter the amount, and click on the confirm button. After the confirmation, go to the budget menu and select the newly created budget from the menu. A budget overview can identify the current capital and give you an estimate for the expenditure.

    Click on the entries button to show created journal entries from the budget lines.

budget management IN ODOO


  • Let’s look at the relationship between budget and vendor bills. First, go to the accounting tab, and create the vendor bill shown under the vendor menu. Then click on confirm button and then click on the register payment button. After this, go to the budget menu, then you can see that limit of the budget became exceeded, and you have to manage the expense.
  • You can easily analyze the budget by using a Budget analyst report. From the dashboard of the accounting module, select The budget analysis then a report view will popup as shown below,                                                                                                                                                  best budget app

    Click on the budget that you want to get complete details. And there are filtering and grouping option to filter the budget.

Are you planning a new ERP Software installation? If so, and you’ve heard of Odoo, and are interested in Odoo ERP platform but don’t know how to do it yourself or have the time and resources to do it, then you need professional help.

Bassam Infotech has implemented scores of Odoo ERP all around the world. In addition, we have also developed and delivered our own customized Odoo applications with minimal Odoo implementation cost.

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Bassam Infotech is a company of Official Odoo Certified Experts with 24 years of expertise. We are a one-stop shop for all your business needs, including Odoo Implementation, customization, integration, and support. We’re available by phone or email, with a 24-hour response time in case you need immediate Odoo ERP support. For more details, Call us on +91 88912 49995 or +91 70250 75566 email us at info@bassaminfotech.com or fill out the form to get a free consultation

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