Using Fiscal Positions for Flexible Account Postings in Odoo
Often times you will need to change which accounts you need a transaction to post to based on the customer, region or another aspect of the transaction. In this video you will learn how to use Odoo's Fiscal Positions to get flexibility over your account postings.
What is the Purpose of Fiscal Positions in Odoo?
When developing a robust chart of accounts it is common for business owners and those in the finance department to wish to use a variety of accounts to track income and expenses. For example, some companies may wish to break out their income by regions or by a given customer segment. Other times you need to use different accounts to track taxes for easier reporting and management. Fiscal positions allow you flexibility in which accounts you post transactions.
Using Fiscal Positions in Odoo to Map Accounts & Tax Postings
In this video we examine several real world uses for Fiscal Positions. For example, suppose you have a company that has started doing business in a new region. For several reasons this is a good case study for why you might use Fiscal Positions. For one, we would like to see our income breakdown in the new region for reporting purposes. Secondly, we will most likely need to keep the taxes separate for these transactions as well. Fiscal Positions allow us to accomplish this.
Understanding Odoo's Accounting & Finance
Implementing a successful Odoo implementation requires that you understand all aspect of Accounting & Finance. Often times Fiscal Positions can get overlooked and then much effort is spent attempting to configure accounts & products. Make sure you understand all the available tools including Analytic Accounting and how Odoo reports accounts before moving into a live installation of Odoo. Testing account postings and double checking all transactions is just as important as testing code and other aspects of an Odoo installation.