Odoo Training Part 2 - Your Odoo Development Company - SMB Solutions

Optimizing Sales and Inventory Management: A Comprehensive Workflow Guide

Welcome to our channel! In this detailed guide, we’ll walk you through optimizing your sales and inventory processes using advanced systems and tools. Whether you're managing small-scale operations or handling large inventories, this tutorial will help you streamline your workflow with ease and accuracy.

Key Topics Covered:

1. Inspections and Cost Validation
Conducting thorough inspections for received items and validating all related costs.
Updating landed costs by incorporating freight, clearance, and miscellaneous expenses into the system.

2. Sales Order Management
Step-by-step creation of sales orders, including handling backorders and partial deliveries.
Real-time troubleshooting for managing stock shortages and customer requirements.

3. Payment Processing and Tracking
Recording and reconciling customer payments with accurate references and amounts.
Linking partial payments to outstanding balances for better financial tracking.

4. Local Purchases Integration
Managing local vendor purchases and linking them to customer orders seamlessly.
Tracking expenses like packaging and labor charges to maintain accurate cost structures.

5. Inventory Updates and New Product Entries
Adjusting inventory levels as products are received and orders are fulfilled.
Adding new product details, including descriptions, codes, and pricing, for accurate stock management.

6. Bank Reconciliation Made Easy
Uploading bank statements and matching them with recorded transactions.
Resolving discrepancies in payments and marking orders as fully reconciled.

7. Handling Exchange Rate Differences
Accounting for fluctuations in exchange rates during purchases.
Posting gains or losses under specific accounts to maintain accurate records.

8. Finalizing Sales Invoices
Adding rounding adjustments, discounts, or corrections before generating the final invoice.
Sending professional invoices to customers via email or direct download.

Advanced Insights: Landed Costs Management

Clearance Fees and Freight Costs:

Linking fees like customs clearance or freight charges directly to purchase invoices.
Example: A 100 KD freight cost added to the product’s total landed cost.
Manual Entries for Miscellaneous Expenses:
Managing costs such as labor or packaging charges through manual system entries.
Ensuring these expenses are tied to relevant purchase orders for accuracy.
Tracking and Adjustments:
Linking all landed costs to inventory updates before marking purchases as received.
Creating detailed records to simplify audit trails and ensure compliance.
Practical Applications and Pending Tasks
Completing the first purchase order by reconciling pending invoices and landed costs.
Beginning the second and third purchase orders with a similar structured approach.
Preparing reports for team reviews and stakeholder meetings to ensure smooth operations.

Upcoming Content:

Join us in our next session as we:

Finalize all remaining tasks for the first purchase order.

Dive into advanced techniques for managing multi-order workflows.

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Let’s make managing your business operations simpler, more efficient, and stress-free!

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