Managing the budget is an essential part of running a business. Budgets make people intentional the way money is spent as well as organize and prioritize for work to meet financial goals.

You can plan the desired financial outcome as well as measure your actual performance against the plan. Odoo has budgets with Analytic and General Accounts.

We have to install relevant apps to use budgeting. The main module is the accounting app. Find the app module to install the Finance and Accounting app. You have to configure as well. Choose the Accounting module with Configuration and go to Settings to enable the Budget management feature.

The Budgetary Positions

The Budgetary position has the lists of accounts to keep your budgets like expense or income accounts. They have to be defined so Odoo would know which account needs the budget information.

Budgetary positions act as a type of restriction to be recorded in the ‘practical amount’ column in a budget.

Every budgetary position must have the number of accounts from the general ledger assigned. The Analytical account of Odoo needs to know the expenses or costs relevant to a specified budget.

We have to link our expenses and invoices to a defined analytical account. We have to create an analytical account while entering the Accounting module click menu. The Analytic Accounts must be kept under Configuration, then create a new account by setting a budget.

We can then set our targets for a budget. If we expect to gain 1000 with this project, we can not spend more than 700. For setting targets, enter the accounting app with Accounting and click Budgets to create a new Budget.

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What does ODOO mean?

ODOO is a business administration software, that is used to direct the fundamentals of a management, such as finance management, material management, human resources, manufacturing, billing, management of projects and also several necessaries. Most of the companies are using ODOO because it provides a clear sight of your business.

Payslip generation is one of the actions easily achieved by ODOO. Let’s look into this in detail.

Generating Payslip in ODOO

Payslip is created naturally in ODOO. Initially, you have to add the employee details like salary structure, the contract that the employee is working in, payroll and employee module, then the payslip will be automatically generated.
Each employee has their own contract. So the foremost thing is to build the contract of an employee. Then look over for the active contracts. Active contracts of an employee define the working plan, time span of your work, basic salary and also other essential requirements.

Firstly, for generating payslip of an employee, you have to construct two basic things,

• Contract of the employee
• Salary structure

Employees can have one contract or more than one contract, generally decided by the management. The salary structure consists of a group of things that includes many salary rules. Based on these rules salary computation should be made. All these configurations are made under the payroll settings.

Contract creation in ODOO

Making a contract is the prime thing a company should do when assigning an employee. These configurations are made under the employee module. The employee module includes,

• Contract type
• Monthly payments
• Contract name
• Name of the employee

Working plan, salary structure, basic pay, time plan and payment schedule are subject to contract type. Salary journal is the compulsory field in the payslip which contains the accounting details. Once the contract form is filled press the status button to make it done.

Salary structure in ODOO

For calculating the payslip of an employee salary structure should be made by the organisation. This determines the payment of an employee. Salary structure usually consists of a set of rules and we can also make some additional rules for certain employees.

Salary rule in ODOO

Based on the salary rule, computation of the payment should be made. These rules are formed using the employees monthly wage, start and ending day of the contract, basic allowance and deduction, scheduled pay, gross and net salary. A unique code is shown on the payslip that is used for some future reference.

About Payslip

Generally, payslip is like a file that is enclosed with employee details like payment, record of earned money, insurance, taxes and so on. Employees payslip can be generated in accordance with the salary structure mentioned in the contract. The generated payslip can then be verified and transferred into PDF and need to be approved by the higher officials. Journal entries are also made by the managers during the verification of the payslip. This information later will be used for payment by the authority.

Payslip Batches

Under the menu of employee payslip, payslips can be created. This menu can be noted in the right window.

To enable a batch of employee payslip, choose the menu payslip batches.

Tags: Finance Management, Payroll Management, HR Management, University & School Management

Let us observe how Odoo develops the working horizon of Human Resource Management. You could simply handle your workers:

Using Odoo ERP, you can simply scan and assemble the main points through several organisational departments. This set privileges over the knowledge distribution among HR professionals and the general public. The HR Management (HRMS) in Odoo takes care of minute features of human relations. Pop-up notification for brand new requests for appraisal software making inner communication the environmental friendly, clear, and allocation

The Monitoring Time & Attendance

Odoo traces info about employee details specifically in the working hours. Odoo is simple to type the knowledge based on shopper, mission, duties and titles. You can enter statistics to file as well as analyze timesheets and verify every worker’s attendance. The integrated accounting could automatically post reviews for time spent on real-time information and task offering.

Leave Management

Odoo is easy for the duty of go away software. When the worker completes the request software, Managers get enabled with the choice of viewing them and determine to refuse or approve the day without work requests. If the superior approves the request, a timed notification is distributed to the worker and their calendar gets robotically up to date.

Streamline the expense administration

The employees of Odoo can submit their expense details. Managers can verify all particulars of the bill and approve or reject it in a single window. After they get accredited, expenses get up to date in the Odoo Accounting.

The Employee’s Evaluation

Odoo upholds the motivational process in a company by performing common evaluations of your employee’s efficiency. This makes well-timed access to human resources by bringing advantages among each enterprise and employees.

The Recruitment

The implementation of Odoo in Human Resource makes the job posting not a tedious process. This allows job postings in a few clicks and retains monitoring of submitted applications. Odoo could simply supervise and handle your applicant pipeline.

Explore the options of Odoo HR Management

To Manage

The employee profile creation

Collect all pertinent details about the worker in one place.

The Contract management

Observe your workers job titles, standing, contract dates and schedules.

The Timesheet Management

The weekly and monthly timesheets are created with the observation of time spent by your staff on specific tasks assigned.

The Attendance Monitoring

Observation of workers attendance, the HR managers report workers daily and monthly attendance with menu entry and state.

The Leave Administration

Managing holidays, sick days and authorized leaves.

Get Dashboards

Get the dashboard per supervisor.

Collaboration

The Enterprise Social Network:

Follow up the workers and paperwork, be part of the dialogue teams, share records data and chat in the actual time.

The Gamification:

Designing objectives, challenges, and rewards with targets as well drive engagement and reward the workers efficiency.

The Integrations

The Recruitment

Managing your Recruitment

Manage your job applications and vacancies

• Make candidates into staff with only one click.
• Tracking job offers- Observe which channel drives most applications and collect them in Odoo.
• Customization of the recruitment process – Create the personal hiring methods to define your phases and interviewers.
• Simple software administration- Observe candidates, index resumes and search profiles.
• The Integrated Surveys- Defining your personal offline and online surveys.
• Full built-in with Odoo Apps.

The Expenses:

• Ease to handle employee expenses and bills.
• Saves time on the expense reviews: Everything falls in a single place.
• Stop the use of dropping receipts: Uploading all receipts to the expense file.
• Sharing the workload between departments: Avoid wasting the time.
• The Full built-in with Odoo Apps.

The Appraisals:

• Setting up periodical worker analysis: You can strengthen your organization’s key asset of workers.
• Building the proper appraisal.
• Designing your survey: Use templates to create all of them.
• The complete built-in with Odoo Apps.

The Odoo HR all of your HR processes could turn simpler. The odoo HRMS is the most superior system for all enterprise types.

We offer Odoo service throughout the nations for varied sorts of industries. We will make it for you if you’re in search of an Odoo ERP implementation service or single module.

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It would be a mess to manage a school, college, university or any other educational institution, if you don’t have a proper education management system or technical support as a good database to store information, starring the concerns, doing accounting and so on.

Technical back support would be an inevitable entity in the administration of any educational institutions. The open-source enterprise resource planning would not make the administration task easier, it would save the resources like money and time for yielding good results and better production.

Paper works get piled up and are taken into consideration by the Open Source ERP. This comes as an integrated package to multitask different activities like management of Students, Employees, Books, Library records, Assignments, Parent details, Admission Process, Exams, Results and Reports, Attendance, Events, Timetable, Transports, Fees to other miscellaneous reports.

Unearthing features of using this ERP would save our natural resources. The computer-generated records supplements the use of paper derived from trees, the natural resource gives better air quality in return. The one point access meditates to manage a wide set of activities efficiently.

The Odoo Open ERP Education Management System has a better user interface, attributes, features and provides a core function to manage the administrative activities of an educational institution in the workplace.

Odoo open source ERP School Management module would help schools and colleges to manage their daily activities.

Tags: School Management ERP, College Management ERP, University Management ERP

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Are you an accountant looking for an incredible tool to help you handle your daily business in a modern and intuitive software? During this talk, you will learn how Odoo can be used by an accounting firm to manage their different customers, completely paperless, and offering them added value to their services.

Over the past year, Odoo has put a lot of effort into making Odoo Accounting an indispensable tool for accountants. A whole new bunch of features will be available in Odoo 13 thanks to a collaboration with different accounting firms.

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Manage your shop and restaurant with intuitive and user-friendly software. Keep an eye on stocks with automatic inventory adjustments and automate your resupply process, thanks to Odoo’s integrations. Turn people into loyal customers via discounts, loyalty programs, and dozens of other unique features, all gathered in one app: Odoo Point of Sale.

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The comprehensive open-source enterprise resource planning (ERP) software is Odoo. It is made up of an integrated suite of business modules, that has e-commerce, customer relationship management (CRM), accounting, billing, project management, inventory management, warehouse management, manufacturing, financial management and purchasing. These aim to seamlessly and efficiently communicate with each other to exchange information.

Odoo has 30 main modules that are regularly updated. More than 16,000 plugins or third-party apps are available in its app store. Due to the modular system, customers start with a subset of tools and add modules as needed.

Previously known as OpenERP, the Odoo is available on-premise or cloud that can be used by businesses of all sizes. Due to its open-source, Odoo software seems highly customizable. The developers could access the code and modify it to make changes in the module based on the organization’s requirements. Odoo could integrate with other systems like external shipping systems and payment processes like eBay, Amazon, UPS, FedEx and QuickBooks.

The Features

Odoo has an open-source solution with modules or features that can be modified at the code level to meet the specific demands of a user. It has tools that address Point of Sale, Sales Invoicing, Email Marketing, Subscriptions Management and so on. The modules represent the ERP’s functionality and are available with the Odoo version:

Use of E-commerce

Using the integrated e-commerce platform, sales and inventory are easily maintained through automatic stock adjustments and reporting. The dedicated customer portals would keep customer data organized with order tracking and claims. This allows customers to download invoices, delivery orders, and view pending shipments from a single location.

The CRM

The Odoo offers an intuitive user interface designed for dashboard and sales that renders a broad overview of the sales activities. This supplies best practises and useful tips to enable customers to configure and deploy their CRM. The Odoo’s mobile user interface accommodates members of the distributed sales team without an internet connection.

The Inventory

Odoo has a unique double-entry inventory management to allow full tracking of products and materials from the supplier to the customer. Customers pack and deliver orders with or without barcode scanners. The Odoo prepares delivery orders for customers based on availability.

The Manufacturing

Companies use Odoo to manage the assembly and manufacturing operations. Odoo triggers the quality checks for the manufacturing department.

The Accounting

The Odoo can automate an entire invoicing process, which enables customers to save time on data entry. The users get instant access to all accounting features on their mobile devices. Companies can automatically track assets with few clicks along with depreciation boards, amortization entries as well as manage all events associated with assets.

The Employees

The Odoo employee module would gather in one database all the information related to the employees, job title, record each employee’s status, contract type, dates and schedules. Customers would create weekly, monthly timesheets and travel the duration of time spent by employees per project.

Integration or Implementation

The deployment of Odoo is achieved in three different ways:

Customers would implement the software themselves. Customers implement the software with Odoo’s help by purchasing Success Packs, which is recommended for companies with less than 50 users.

Customers could implement with the help of Odoo partners, which is recommended for organisations of more than 50 users.

The success packs have a package of premium services overseen by the consultant. In the implementation phase, customers will be assigned an Odoo project manager to analyze the requirements and configure the Odoo apps based on their needs.

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Manage your warehouse and locations with intuitive and user-friendly software. Keep an eye on stocks with automatic inventory adjustments and automate your processes, thanks to Odoo’s integrations. From packing items to multi-warehouse management, Odoo Inventory makes your life easier.

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Today the Enterprise Resource Planning or the ERP software is a prerequisite to every business. The possibility of cloud storages and servers paved way for the innovation of cloud based ERP packages. But, is cloud based ERP a reality in the true sense? On observing further, not all ERPs which proclaim to be cloud based are truly cloud oriented programs. The basic advantage as proclaimed for using a cloud based ERP is the mobility in your business functionality, thus removing the need for company maintained computing and storage devices. The software computing and storage is in Cloud which frees a business for using a standard, stationary device for accessing the data. In short, if an ERP system is dependent on a certain device, it cannot be called a cloud ERP.

Is SaaS Synonymous to Cloud Implementation?

SaaS or Software-as-a-Service solutions are used interchangeably to mean cloud deployment. Upon observing closely, the SaaS solutions are deployed by the host but need not necessarily be cloud based solutions. Also, accessing the service via different smart devices or mobile devices becomes difficult at times. Sometimes, the applications require tweaking to suit your data access needs before it can be accessed via the mobile devices used in your business. That does not mean there are no true cloud-based solutions. Any ERP solution which works across the platform and devices can be called a cloud based ERP. On the other hand, SaaS ERPs are useful for a small business even if the mobile access is not possible immediately. This move has helped the small businesses move away from the proprietary ERP solutions.

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