Effective financial management is a crucial aspect of running a successful business. As a business owner, you need to keep track of your transactions, expenses, and income accurately to make informed decisions and comply with regulatory requirements. Odoo is a popular open-source Enterprise Resource Planning (ERP) software that offers basic accounting features in its Community Edition. However, to utilize Odoo 16 Community Edition’s complete accounting functionality, you will need to enable some additional options. In this blog, we will explore how to activate Odoo 16 Community Edition’s full accounting capabilities, empowering you to manage your finances effectively.
Steps for Enabling Full Accounting Features in Odoo 16
Whenever you open the Invoicing module, you get only 4 menus. To enable some more menus, you need to perform some steps. Before that, you can refer to the below image and find that the invoicing menu has only four menus: customer, vendors, reporting, and configuration.
Follow the following steps to enable the full features of Accounting:
Step 1: Click on the Settings menus in the window below:
Step 2: Scroll down to the Developer Tools in Settings and Click to Activate the Developer Mode:
Step 3: Click on the Groups in Settings as shown in the below image:
Step 4: Once you click on the Group you can see the following screen:
Step 5: Then in the search bar, type “/Full Accounting” It will give you the following screen:
Step 6: Now Select the Given option you will get the following screen:
Step 7: Click on Add a Line you will get the following screen:
Step 8: Once clicked on Select the user will be added.
Step 9: Go to Invoicing and Refresh. You can see that the options in the menu have increased.
It has two additional options: dashboard and accounting.
Now you have successfully enabled full Accounting Features in Odoo 16.
Odoo comes in two flavors: Community Edition and Enterprise Edition. The Odoo 16 Community Edition is open-source and free, whereas the Enterprise Edition requires a membership. Odoo’s Community Edition contains basic accounting functions such as invoice creation and management, journal entry management, and payment tracking. However, you may need to enable other options. You can refer to the steps given in the blog and enable the full accounting features in Odoo 16.
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