Operating internationally means dealing with multiple currencies. Odoo Multi-Currency Accounting simplifies this complexity with automatic exchange rate updates, real-time currency conversion, and proper handling of foreign exchange gains and losses. Whether you're invoicing in euros, paying suppliers in yen, or reporting in dollars, Odoo maintains accurate records in every currency.
What is Odoo Multi-Currency Accounting?
Odoo Multi-Currency Accounting is a feature set that enables businesses to transact in any currency while maintaining accurate books in their base currency. It includes automatic exchange rate updates from multiple sources, real-time conversion on transactions, unrealized and realized gain/loss tracking, and multi-currency financial reporting.
Odoo Multi-Currency Accounting Features
Automatic Exchange Rates
Daily rate updates from major financial data providers.
Real-Time Conversion
Transactions are converted to base currency automatically.
Currency Gain/Loss
Automatic calculation of realized and unrealized exchange differences.
Multi-Currency Invoicing
Invoice customers in their preferred currency.
Currency Revaluation
Period-end revaluation of foreign currency balances.
Multi-Currency Reports
View financial reports in any currency.
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Benefits of Odoo Multi-Currency Accounting
Accurate Financials
Proper currency handling ensures accurate profit reporting.
Customer Convenience
Invoice customers in their currency for better payment experience.
Supplier Flexibility
Pay suppliers in their preferred currency.
Compliance
Meet accounting standards for foreign currency transactions.
Odoo Multi-Currency Accounting Use Cases
International E-commerce
Sell globally and accept payments in local currencies.
E-commerceImport/Export Business
Handle multi-currency purchases and sales.
TradingMulti-National Companies
Manage subsidiaries operating in different currencies.
EnterpriseFreelance Global Work
Invoice international clients in their currency.
FreelanceOdoo Multi-Currency Accounting FAQ
Odoo can fetch rates automatically from the European Central Bank, Open Exchange Rates, or other providers. You can also enter rates manually.
Related Topics
Go Global with Odoo Multi-Currency
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