Deferred entries consolidation
Allow setting a start date for deferred entries, grouping them by product for better tracking, and handling entries in closed periods by assigning them to the current bill month or pushing them to the first open period
Deferred entries consolidation
Allow setting a start date for deferred entries, grouping them by product for better tracking, and handling entries in closed periods by assigning them to the current bill month or pushing them to the first open period
STORY BEHIND THE FEATURES
ODOO BEHAVIOUR
In Odoo, when an invoice or bill has an accounting date in a specific month (e.g., August 2024), the system automatically creates deferred revenue or expense entries starting from the invoice's initial period (e.g., June 2024). However, if previous periods (like June or July 2024) are already closed, Odoo does not have a mechanism to prevent entries from being posted into these locked periods.
CLUEDOO BEHAVIOUR
Cluedoo introduces enhanced functionality to address the limitations of deferred revenue and expense management in Odoo. It provides two key features: the ability to select the start date for deferred entries and an option to group these entries by product. Users can decide how to handle deferred entries for closed periods, either assigning them to the current bill month (based on the invoice date) or pushing them to the first open period. Additionally, the “Group by Product” option for deferred entries ensures that journal items are organized by product, offering clearer tracking and better categorization in accounting records.
MODULE +
Cluedoo’s new feature streamlines deferred entry management by ensuring compliance with closed-period rules and enhancing the visibility of product-related details. This improvement simplifies reconciliation, minimizes errors, and provides a more accurate and flexible accounting workflow.
CLUEDOO RECOMMENDATION
Install on 100% of the database.
OUR FEATURES AS SOLUTIONS
Consolidate deferred entries in Invoice Date/First Open Period
HOW TO USE THIS MODULE
| Go to Settings > Accounting > Deferred Entry Adjustment, there are 3 options: - En dash (Odoo standard): posting past entries monthly - Consolidate in Invoice Date: posting past entries in the current bill month - Consolidate in First Open Period: posting past entries in the first available month of the periods lock Note: Install fal_account_periods_lock |
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1. Odoo standard Go to Accounting > Invoices/Bills > Fill in the necessary information > Checkbox Deferred Revenue/Expense > Confirm > Deferred Entries smart button will appear |
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Deferred entries are distributed monthly |
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2. Consolidate in Invoice Date Go to Accounting > Invoices/Bills > Fill in the necessary information > Checkbox Deferred Revenue/Expense > Confirm > Deferred Entries smart button will appear e.g. Start Date = 1 June 2024, End Date = 31 May 2025, Invoice Date = 15 December 2024 |
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All the past entries (June-November 2024) will be shifted to the current bill month (based on Invoice Date) which is December 2024 You have the option to Group by Product as well. |
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3. Consolidate in First Open Period 3.1 Go to Accounting > Periods Lock > Click Lock Period to close the months that you want to lock e.g. Periods from Jan to Jun 2024 are CLOSED |
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3.2 Go to Accounting > Invoices/Bills > Fill in the necessary information > Checkbox Deferred Revenue/Expense > Confirm > Deferred Entries smart button will appear e.g. Start Date = 1 Jan 2024, End Date - 31 Dec 2024 |
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All the past entries (Jan-Jun) will be shifted to the first open period (July 2024) You also have the column Product for easier tracking |
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