Odoo Purchase Training - SMB Solutions - Your Odoo Partner

Welcome to our channel! In this comprehensive guide, we dive deep into managing financial records with precision and efficiency using accounting software. Whether you’re a seasoned professional or just starting out, this walkthrough will enhance your skills in handling purchases, inventory adjustments, landed costs, and reconciliation processes.

Key Topics Covered:

1. Invoice Entry and Duplication Check:
Ensuring accurate validation of invoices, payments, and bills with no duplication.
Separating and reconciling entries while maintaining consistency in amounts.

2. Purchase Workflow:
Step-by-step guidance on entering new purchases, vendor selection, currency specification, and product creation.

Real-time troubleshooting for product naming and stock updates.

3. Invoice and Payment Reconciliation:
Assigning invoice, accounting, and due dates based on vendor details.
Linking advanced payments and updating payment references for smooth tracking.

4. Exchange Rate Adjustments:
Resolving exchange rate discrepancies and posting adjustments under "gain on exchange" accounts.

5. Inventory and Sales Adjustments:
Editing product details, ensuring accurate sales prices, and aligning stock quantities with invoices.

6. Bank Reconciliation:
Uploading and linking bank statements to payments, marking transactions as fully paid.
Resolving discrepancies for partial payments during reconciliation.

7. Expense Categorization and Landed Costs:
Clearance Certificate and Landed Costs:

Treating clearance certificates as landed costs and linking them to purchase invoices.
Example: Clearance fees of 30 KD linked to the first purchase invoice (V1).
Handling Expenses Without Vendor Invoices:

Managing costs like forklift and labor charges (e.g., 60 KD for unloading containers) as manual entries.

Linking Landed Costs to Invoices:

Accurately associating costs like freight, clearance, and inspection with specific purchase orders.

Handling Bank Charges or Miscellaneous Expenses:

Recording small fees under accounts like "Bank Charges" for detailed tracking.

8. Process Documentation for Landed Costs:

Creating and validating landed costs before marking purchase orders as received.
Reconciliation to ensure no missing costs and preparing for subsequent purchase orders.

9. Practical Insights and Pending Items:

Finalizing the first purchase order (V1) by adding missing invoices.
Starting the second purchase order with the same systematic approach.
Preparing for upcoming meetings to address questions and streamline operations.
Upcoming Content:

Stay tuned for our next session, where we will:

Complete the first purchase order by integrating all landed costs.
Begin the process for the second and third purchase orders.
Dive deeper into advanced reconciliation techniques.

If you’re looking to master financial workflows and streamline your accounting processes, subscribe to our channel and join us for actionable tips and real-world solutions. Let’s make financial management easier, transparent, and error-free!



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