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Wednesday, 17 August 2016

Odoo Stock Accounting and Inventory Valuation

The article explains, how to work with real-time Stock valuation in Odoo/OpenERP. Connecting the stock module with accounts module enables users to generate accounting entries per stock moves. The Inventory Valuation connected with accounts helps to determine the price of the products more logically.

  1. Warehouse Settings - 
    1. Generate Accounting Entries Per Stock Move
    2. Calculate Landed Cost on products(Optional)
  2. Purchase Settings -Use "Real Price" or "Average" Costing Method
  3. Create Stock Accounts
    1. Stock Valuation Account (Internal Type : Regular, Account Type : Asset) under Current Assets
    2. Stock Control Accounts (Internal Type : View, Account Type : Asset View) under Current Assets
    3. Stock Input Account (Internal Type : Regular, Account Type : Asset) under Stock Control Accounts
    4. Stock Output Account(Internal Type : Regular, Account Type : Asset) under Stock Control Accounts
    5. Expense Account for landed cost (Optional)

  4. Define a new journal - Stock Journal
  5. Configure  Stock Valuation Account, Stock Input Account, Stock output Account and Stock Journal in Product Category Master
  6. Configure Product Type as "Stockable" and Costing Method as "Real Price" in Product Master
  7. Configure
    Inventory Valuation
    Real Time (automated)
  8. Create PO, Receive Product
  9. Check Stock Journal Entries
  10. Check Current Inventory Valuation

Please refer the video for more details..


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