Platform
Web + Mobile Support
Industry
E-commerce
Country
India
Service
FinTech
Efficient invoicing and seamless financial management
Automating invoicing, tax calculations, and payment tracking with Odoo and improving cash flow and financial visibility for retail businesses.
A mid-sized retail company faced invoicing delays, tax compliance issues, and financial inefficiencies. By implementing Odoo 18, they automated invoicing, payment tracking, and tax calculations, resulting in improved cash flow and seamless financial operations. With Odoo’s advanced features, such as AI-powered reconciliation, multi-currency support, and real-time reporting, it streamlined its accounting processes.
Integration with sales, inventory, and procurement ensured synchronized data, offering a comprehensive view of financial health. This solution not only improved accuracy but also made compliance effortless, enabling the client to stay on top of its financial obligations while focusing on business growth. Moreover, features like automated invoicing, multi-currency support, and expense tracking made control over finance a breeze.
Client problem statement
Real-time financial tracking and automated reporting
A mid-sized retail company was struggling with invoicing delays, tax compliance issues, and financial inefficiencies due to manual processes and a lack of integration. To address these challenges, they implemented Odoo 18’s automated accounting features, streamlining invoice creation, payment tracking, and tax calculations. This solution automated key financial operations, reducing errors and improving cash flow visibility.
Real-time synchronization between accounting, sales, inventory, and procurement ensured data consistency and faster decision-making. Odoo’s AI-powered bank reconciliation and tax automation also simplify compliance. With customizable financial reports and automated payment reminders, the company achieved greater financial transparency and smoother operations, driving business growth and efficiency.
Challenges
Manual data entry and frequent errors from offline, traditional accounting systems lead to inefficiencies, delays, and incorrect financial records.
Complex tax calculations, including VAT/GST, were manually performed, leading to inconsistencies and time-consuming reporting.
Lack of integration between accounting, sales, inventory, and procurement systems created siloed data and delays in accessing real-time financial information.
The company faced delayed payments, which resulted in cash flow issues and difficulty tracking overdue invoices.
Financial reporting was inconsistent and lacked proper tracking, making it difficult to make informed business decisions.
Solution
Implemented Odoo 18’s accounting app to automate invoice creation, bank reconciliation, and journal entries, reducing human errors and streamlining data entry.
Configured Odoo’s tax rules and automated VAT/GST calculations, ensuring accurate tax compliance and audit-ready reports without manual intervention.
Integrated Odoo’s accounting app with sales, inventory, and procurement systems, enabling real-time data synchronization for accurate and up-to-date financial reporting.
Enabled automated payment follow-ups and real-time cash flow tracking through Odoo, providing better visibility and timely action on overdue payments.
Used Odoo's customizable financial reports like P&L, balance sheets, and cash flow statements to provide a clear, structured, and consistent overview of the company’s financial health.
Features
Simplify accounting and invoicing with Odoo features to drive efficiency
Invoice generation
Automatically create invoices from sales orders and contracts, with support for recurring billing. Streamline your invoicing process and improve cash flow efficiency.
Bank reconciliation
Auto-match transactions with bank statements, ensuring fast and accurate bank reconciliation with minimal manual effort.
Tax automation
Automate currency conversions and regional tax calculations (VAT, GST, etc.) to maintain compliance and save time on complex tax reporting tasks.
Payment tracking
Support multiple payment gateways with automated reminders for overdue invoices, ensuring timely payments and enhancing cash flow management.
Data synchronization
Seamlessly sync financial data with inventory movements and purchase orders for real-time updates, providing accurate and timely financial insights.
Design
streamlined retail accounting processes with an intuitive design
Tools & Technologies
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Python
-
PostgreSQL
Odoo 18
Razorpay
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