You CAN code your transactions directly to Expense Accounts.
Reconciliation works the same way EVEN IF some of your Employees DO NOT submit Expense Reports.
Let's take this sample Expense Report:
Note: The OTHER INFO tab is where the employee, manager OR finance team member would set the correct corporate Credit Card.
And this sample Bank Statement (this will be imported, but it works the same way with online synch):
Since only James has submitted an Expense Report, Odoo has no knowledge of the transactions Jim has made with his card until the credit card statement is imported.
After import, you visit the Bank Reconciliation screen and start encoding:
For the first transaction, the service charge (the top line), we code this directly to the Expense Account (the bottom line).
All you have to do is choose the account and, if required, modify the LABEL (which will match the label on the credit card statement by default). Since Odoo had no record of the transaction in the system, Odoo will create BOTH the Payment and the Expense AND reconcile the two.
Next, we can just reconcile the transactions Odoo already knows about (via the Expense Report):
For the next five transactions (three shown here) notice how the lines are BLUE? This means Odoo ALREADY has a record of the Payment (because it has a record of the Expense from the Expense Report) so doesn't need to create anything - just reconcile.
Now for the Payments that were NOT in Odoo:
It works the same as the BANK FEE - Odoo doesn't know about the Payment until it sees it on the Credit Card Statement, so when you specify the account it will create both the Payment and Expense.
Almost done. If you setup RECONCILATION MODELS, you don't even have to choose the account or mess with the label, you just click the button that represents the Expense Type (setup enough models for your most common Expenses).
Now open the Statement and enter your starting and ending balances:
Odoo will calculate the Computed Balance and if it matches, you just click VALIDATE.
Done! No Vendor Bills, no goofy workarounds.
Hi Guys,
I can appreciate this is old discussion but I'd like clarification on the above. I tried to get my reconciliation work for company credit card for weeks. I have a credit card journal for my credit card statement. I create an expense any time I make a payment by company credit card (expect if company invoice => vendor bill). I have a reco model very loose matching only amount by i have no hit. When I post my expense odoo it is marked as paid and there is a outstanding payment sitting in vendor bill. When I load my statement I get no match but I can see the outstanding payement in the reco tab and do manual reconcilliation. Anyone can help me on this ?