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@ -22,14 +22,14 @@ entries are automatically balanced (sum of debits = sum of credits).
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Accrual and Cash Basis Methods
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Accrual and Cash Basis Methods
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==============================
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Odoo support both accrual and cash basis reporting. This allows you to
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Odoo supports both accrual and cash basis reporting. This allows you to
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report income / expense at the time transactions occur (i.e., accrual basis), or when
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report income / expense at the time transactions occur (i.e., accrual basis), or when
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payment is made or received (i.e., cash basis).
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payment is made or received (i.e., cash basis).
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Multi-companies
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Multi-companies
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===============
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===============
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Odoo allows to manage several companies within the same database. Each
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Odoo allows one to manage several companies within the same database. Each
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company has its own chart of accounts and rules. You can get
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company has its own chart of accounts and rules. You can get
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consolidation reports following your consolidation rules.
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consolidation reports following your consolidation rules.
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@ -51,9 +51,9 @@ web-service.
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International Standards
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International Standards
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=======================
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=======================
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Odoo accounting support more than 50 countries. The Odoo core
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Odoo accounting supports more than 50 countries. The Odoo core
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accounting implement accounting standards that is common to all
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accounting implements accounting standards that are common to all
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countries and specific modules exists per country for the
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countries. Specific modules exist per country for the
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specificities of the country like the chart of accounts, taxes, or
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specificities of the country like the chart of accounts, taxes, or
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bank interfaces.
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bank interfaces.
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@ -61,7 +61,7 @@ In particular, Odoo's core accounting engine supports:
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* Anglo-Saxon Accounting (U.S., U.K.,, and other English-speaking
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* Anglo-Saxon Accounting (U.S., U.K.,, and other English-speaking
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countries including Ireland, Canada, Australia, and New Zealand)
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countries including Ireland, Canada, Australia, and New Zealand)
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where cost of good sold are reported when products are
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where costs of good sold are reported when products are
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sold/delivered.
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sold/delivered.
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* European accounting where expenses are accounted at the supplier
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* European accounting where expenses are accounted at the supplier
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bill.
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bill.
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@ -115,8 +115,8 @@ bank statement lines to your accounting transactions. Odoo also
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remembers how you've treated other bank statement lines and provides
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remembers how you've treated other bank statement lines and provides
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suggested general ledger transactions.
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suggested general ledger transactions.
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Calculates the tax you owe your tax authority
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Calculate the tax you owe your tax authority
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=============================================
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============================================
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Odoo totals all your accounting transactions for your tax period and
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Odoo totals all your accounting transactions for your tax period and
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uses these totals to calculate your tax obligation. You can then check
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uses these totals to calculate your tax obligation. You can then check
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@ -136,7 +136,7 @@ average price, LIFO (for countries allowing it) and FIFO.
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Easy retained earnings
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Easy retained earnings
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======================
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======================
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Retained earnings is the portion of income retained by your
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Retained earnings are the portion of income retained by your
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business. Odoo automatically calculates your current year earnings in
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business. Odoo automatically calculates your current year earnings in
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real time so no year-end journal or rollover is required. This is
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real time so no year-end journal or rollover is required. This is
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calculated by reporting the profit and loss balance to your balance
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calculated by reporting the profit and loss balance to your balance
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