What's new in OpenERP 6.0 Accounting ?

Hello !!

I am back after a long time to discuss on the OpenERP and specially new features & enhancements in the Accounting system in new version. There are lots of improvement s to make it more simple to explore, user friendly and easy to use. There are small but important changes are terminology of the accounting terms, mature reports, easy predictable navigation of menus, and fully utilization of new features built for the OpenERP Framework Version 6.0.

If I list out some of the important developments and enhancements, it will be as follows:

1. Re-structuring of Menus - now its very easy to predict and find the desired menus.
2. Inbuilt multi-company feature - no need to install any module.
3. Inbuilt multi-currency feature - no need to install any module.
4. New legal reports - Profit & Loss account and Balance Sheet.
5. Common Filter system for all Accounting Reports - filtering on dates, periods, journals, etc..
6. Simplified entry system for accountants - Sales, Purchase, Payment and Receipt Entries.
7. Improved Tax calculations.
8. Cash Register.
9. Easy to Tracking Invoices and Accounting Entries.

New menu structure of Account application.

Easy and simplified Menu arrangements

Legal Reports - Profit and Loss account, Balance sheet
Profit and Loss Account

Profit and Loss Account Report

Balance Sheet Report

Balance Sheet

Reporting and common filters

Now you can see common report filter on all accounting reports, which will give you the facility to filter on the chart of account, Fiscal Year, Journals, Periods, Start and End Dates, also provide you the facility to change the display of reports like sorting on Date, Partners, Journals and Reports formats and other parameters. 

Common Filters for All Accounting Reports

Simplified Entry System

Now it is very easy to do Sales, Purchase, Bank / Cash Payment and  Bank / Cash Receipt just in one click, you can also add the tax and due dates while dealing with the Sales and Purchase receipt, also no need to remember outstanding bills and amount for any customers or suppliers, payment and receipt will automatically detests them. 

Sales Receipt

General Sales Entry with TAX

Sales Payment

Payment from Customer against the Outstanding Invoice

Cash Register

Now its possible with the OpenERP 6.0 to maintain the cash book like the Bank statements. Open / Close a cash box daily, weekly or monthly based on the needs.

Open Cash box with Initial Balance

Cash box with Initial Balance

Cash Transactions

Cash Transactions

Closing Cash Box

Closed cash box verified with the closing Balance

So, this way we have a complete track on the cash box, from the next statement . No need to enter the opening balance manually, the closing balance of previous statement will be carry forward to the next statement, also you can modify the carry forwarded balance too.