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How to book expenses in odoo ?

How to book expenses in odoo ?
Author

Neenu RobinJuly 1, 2019

 

The Odoo Expense Management app can effectively manage expenses in a company. Expense Management made many companies to increase their revenues and reduce their loses. Moreover, expense management has the chief goal of streamlining the process by which expenses incurred by employees are reliably and accurately remitted to employers. If these information's are not loaded correctly companies might faces loses.

Odoo Expense Management

Creation of different types of Expenses (Expense Products)

Odoo manages expense types as expense products. Expense products are listed under the configurations of Expense Management App.

Expenses → Configurations → Expense Products →Create

Creation of different types of Expenses in Odoo Expense Management

Enter the details of the expense products. Under the invoicing tab, select Delivered quantities .

 

Details of the expense products. Under the invoicing tab of Odoo expense management

Re-invoicing Expense

Re-invoicing is required when the particular expense is for a customer, like any of our employees visited the customer site for any customer requested services. Thus, in such cases companies can re-invoice the amount to customer.

If the expense is for our own company purpose, then set ‘no’ to re-invoice expense.

At cost means the company is invoicing the exact expense  amount to the customer and Sales price means the company can add a profit margin to the expense cost and invoice it to customer.

Setting of Cost

Setting of cost will depends on the nature of the expense. Some time some companies will fix a particular amount to reimbursed. For an example,

Travel with Personal Car:
Cost: 0.30 (the price per mile reimbursed by the company is fixed)
But sometimes employees need to report the real cost per expense. Like restaurant bill and hotel bills. In such cases kept the cost as 0.

Odoo Expense Management

Creation of an Expense

To create an expense select Expenses to Submit under My Expenses

Firstly, go to Expenses → Expenses to Submit → Create

Creation of an Expense in odoo expense management

 

Enter the expense details in the window.

 expense details in Odoo expense management

File Attachment

Odoo Expense management has the feature of attaching any documents related to the expense. Simply take an image of the document and attach it to the expense.

File Attachment feature in Odoo Expense management

Currently the Documents Tab showing 0. Currently no files attached. To attach a file select document tab and Create.

Document → Create

Document attachment in Odoo expense management

Enter the attachment name,upload file and then save it.

Then select Submit to manager button. Then the expense will sent to manager for approval.

The employee can check the list expenses he submitted and its current status.

 list of expenses to submit in Odoo expense management

 

Expense Approval / Refusal

Once the employee submit the expense for approval, then the manager can either approve the expense for reimbursement or refuse it. Manager can select all the expense by a particular employee and approve it altogether.

Expense Approval / Refusal in Odoo expense management

Once the manager approved and post the expense the employee can see the change of status in real time.

change of status

Status of the expense changed to posted.

Once the approval done by manager the accountant can reimburse the amount to employees.

The amount paid will automatically posted in the invoice management. No need of posting expense manually  to the account management module. The status of the expense will changed to paid.

status of the expense changed to paid.

When creating an expense there is an option for selecting Sales Order.

option for selecting Sales Order

Once the expense posted the entry will generated in the sale order for the customer automatically.

expense posted in odoo expense management

Then we can invoice the expense directly from the sale order to the customer.

invoice the expense from the sales order to the customer

Odoo Expense Management with analytic accounting

Analytic account used for analysing cost of a company, re invoice time to a customer, analyse performance of a service or a project.

When creating an expense we can associate an analytic account related to it.

Associate an analytic account

Once the expense submitted, approved and reimbursed to the employee, a new entry will generated in the analytic account related to the customer.

Analytic accounts are visible under the configuration of invoicing app.

Visibility of Analytic accounts

Invoicing → Configurations → Analytic accounts

Once an expense posted with an analytic account, a new entry will generated in the analytic account associated to it.

The total expense amount associated with this project displayed:

The total expense amount associated with project

The total amount is negative to show that the expense amount not invoiced to customer.

total amount is negative

Once the invoice generated and payment done, the balance amount will be zero.

 invoice is generated and payment is done the balance amount will be zero

For the detailed view of Odoo Expense Management:

 

Odoo_ERP_Services

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