News & Events
Inter-Company Transactions in Odoo
May 24, 2022
Intercompany transactions are a very important aspect in a multi-company configuration of an ERP. One company might purchase from another company or vice versa. We can easily manage this type of transaction using B2B transactions in Odoo. It can achieve the same on the Odoo community edition, also using custom-developed modules. Let us look at the feature available in Odoo Enterprise.
Intercompany TransactionsInitially, we need to enable the intercompany transactions in our database.
- To do this, go to Settings and search for "Intercompany Transactions".
- Enable the option and click on the "Synchronize invoices/bills" option.
- Then click the Save button to save the changes made to the settings.
- After enabling this option, the intercompany transactions between the companies should work with no issues.
- Let us try creating a new invoice from one company to another company.
Creating New InvoiceHere we are creating a new invoice from the company ‘My Company (Chicago)’ against the company ‘My Company (San Francisco)’ as a customer. We perform the first level of invoice verification and then invoice confirmation. Once the invoice become confirmed, we can change the company to ‘My Company (San Francisco)’. Since it created the customer invoice in the other currency, it will be the supplier invoice in "My company (San Francisco)" As you can see from the image, the system has automatically created a vendor bill in the Payment Reference field, and the Invoice number of the other company. This can reduce lots of manual work and also help to make sure that no entries go missing. As you can see in the image, the system automatically created a supplier invoice. The intercompany transaction feature available in the Odoo is really helpful to record the transactions between multiple companies, helping the organisation to reduce the manual data entry and to make sure that no particular entry is missed. Once a record is created in one company against another company, Odoo will automatically create the opposite record automatically. Even though this feature is only available for the enterprise version by default, the same can be achieved in the community version also by developing custom modules. If you have any specific requirements for the same, you can contact Bassam Infotech.Request Your Free Quote
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