An organization’s expenses are crucial to keeping track of how much money is spent on various operations. Managing a worker’s daily spending is a worrying process. However, the Expenses module in Odoo makes it easier. This module will help your enterprise in nicely dealing with all fees and lowering losses.
Having a selected approach for dealing with your spending will save time and effort in the long run. With the Odoo Expenses module, all of the company’s expenses can be managed on a single platform.
With Odoo Expenses, you can track expenses such as trip expenses, office supply costs, and purchases, among others. This module allows users to create, manage, analyze, and document cost reports.
Click the ‘Expenses’ module icon to manage expenses. By opening the expense module, you can get all-expense details. Dashboard in the expense module lets employees submit receipts and all-expense details for approval. Using the dashboard, you can create an expense report.
The dashboard displays the expense description, the employee’s name, Paid by, Analytical Account, Taxes, and amount and status of the expense.
This is a list of expenses that must be reported. Also, you can get full information on ‘All My Expenses’ and ‘My Reports’ under the ‘My Expenses’ menu.
All expenses recorded in the system are shown in this menu. Here, the manager can see all requests for expense approval. The following list contains the expenses that have been submitted for approval.
Click on any of the records to see details for each expense. Employees can attach expense receipts to the manager’s report using the ‘Attach Receipt’ option.
By clicking Create Report, the management or responsible officer to whom you are submitting the report can approve, decline, or reset the draft report.
Upon approval of the expense report, the payment procedure can begin.
Fill in all the details. Then, click on the REGISTER PAYMENT button to register payment.
Upon receiving the payment, the expense report’s status will change to “Paid,” as shown below.
The payment will be credited to the employee’s account.
Make a New Expense
Click on CREATE to create a new expense in the system.
You will need to enter details such as the Product, Unit Price, Quantity, Taxes, Bill Reference, Date, Employee name, Analytic Account, Company, and Who paid. You can also attach the receipt to the record.
The ‘My Reports’ area allows you to manage all of your spending reports. Click on the ‘Create’ button to create reports.
When creating an expense report, specify the type of expense, employee name, manager name, paid by, and company name.
On the ‘Expense’ page, you can add the spending data you’ve made to submit to the manager. You can add expenses to your report by selecting the ‘Add a line’ option.
Choose the appropriate expense or create a new one using ‘Create Report’. After adding the expense line to the expense report, you can submit it to your manager for approval.
You can submit the expense report draft to the manager by clicking the ‘Submit To Manager’ button. The manager can accept, deny, or rest the expense report draft.
Reports on Expenses
Expense Reports include Reports to Approve, Reports to Post, Reports to Pay, and All Reports.
It will display a list of all expense reports that still need to be approved. A manager can pick reports from this list, review them, and take actions based on the reports that employees have submitted for management approval.
Posting of Reports
After receiving manager approval, all reports must be uploaded. An expense report waiting to be posted is listed in this field.
Then click on POST JOURNAL ENTRIES button.
All of the Reports
In this area, you can view all the Expenses reports. Using the dashboard, you can see the status of your reports and take action as needed.
In the Expenses module, you can enable options to create expenditures from incoming emails, digitize receipts using OCR and artificial intelligence, and reimburse expenditures in payslips.
In this menu, you can customize the expense products. If you want to create a new expense product. Click on the ‘Create’ option.
Fill in all mandatory data, then click on the save button to save this product.