Odoo 16 Inventory Valuation | Manual & Automated Odoo 16 Inventory Valuation
8Depending on product configuration, the inventory value is impacted when the product enters or leaves your stock. Based on new stock, the inventory value alters quickly. The total benefit of income, net profit, and sold product price affect inventory calculation. #odoo16
Odoo 16 provides two main preferences for your inventory valuation, and it includes inventory valuation and costing method. Odoo 16 Inventory module is the best method to configure your business's inventory valuation of products. #odooinventory
The costing method is used to value your goods in different ways on Odoo, and the process of recording value automatically or manually to your accounting book is inventory valuation.
These two concepts are easily managed with the Odoo 16 Inventory module,
The user needs to enable accounting options in the Odoo 16 Accounting module to set the accounting move. Select the Settings menu in the
Configuration tab and activate the options below the Accounting section.
The inventory valuation depends on your accounting mode, and it includes two types such as Anglo-Saxon or Continental accounting. Activate the Anglo-Saxon Accounting option to record goods cost sold in your journal entries. #odoofunctionalvideos
On the other side, the cost of goods is taken into account after the product is received in stock at the continental accounting case. Continental accounting is activated after disabling the Anglo-Saxon Accounting option in default. Now, check out inventory valuation details when creating a new product category.
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