Like Any ERP, Accounting Module is the core module of Odoo ERP. The Odoo 14 Accounting module will be the core module among all the modules in ERP. Whether Sales happens in Sales Module, Purchase happened in Purchase Module, and Manufacturing happened on Production module or Project happens in Project Management Module or Inventory transactions in Inventory module, there will be a general ledger entry happening in Accounts Modules. In short, any transactions or processing, which is having a financial impact happening in any other modules will generate a journal entry in Accounts. These General Ledger generations can be either automate and make it online, which means the moment a document happens in the respective module, then and there the accounting entries get generated in General Ledger, else the process can be a batch process where based on the schedule set, it can be daily, weekly or monthly accounting entries are generated in General Ledger.
When It comes to Odoo 14 Accounting module, there are lots of new features included compared to the older Odoo versions. First of all, the look and feel of Odoo 14 itself is amazing.
Odoo 14 is having a very good dashboard which looks very beautiful, but can be filled with lots of valuable required information. Its really a user-friendly platform. Odoo 14 Accounting Module can be integrated with third-party payment platforms. It is having beautiful reporting methods using Analytical codes. Dashboards are highly customizable, and you can bring what you need from the accounts module into Dashboards. It can configure the taxes which belongs to your country. Payment tracking and allocation is one of the best features. The COA listing and its astonishing drill down facility will help you to dig and find until the transactions level information.
You can track your prepayments, allocations, petty cash, journals, Chart of Account groupings and so on. In short, Odoo 14 is rich in features, easiness of use and gives variety of financial statements and reports.