How to Manage Opening Balance in Odoo 16 Accounting | Odoo 16 Functional Videos

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At the year-end, we will have to transfer the closing balance of the current year as an opening balance to the new financial year.

In odoo 16 we used a journal and journal entries for setting the opening balance. First, create an equity account for opening balance and a journal entry to bring account balances into the new financial year as opening balance entries.

The date of the journal entry should the beginning of the fiscal year or quarter. #odoo16 #odooaccounting #odoofunctionalvideos

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