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How to perform a Payment Clearing Account Reconciliation
Payment clearing account reconciliation inside odoo.
Before starting the reconciliation you have to make sure that Allow reconciliation for the particular general ledger account is enabled
01. Go to Odoo Dashboard> Accounting> Configuration> Char of Accounts
02. Search for the relevant account through the search bar and check whether the Allow reconciliation is enabled
Once you have confirmed the Allow reconciliation set up, you can start the reconciliation process,
01. Go to Accounting> Reconciliation
02. Here you will see all the accounts which are available for reconciliation, so you can go to the relevant account that your going to reconcile
03. For the testing purpose if you remove those two lines which Odoo has suggested, you can find the debit and credit transactions under the Miscellaneous Matching
04. Here the ,
01st Transaction which is on Debit is the customer payment which has been received for the invoice, once an invoice is created inside odoo, the payment also will get applied automatically for the invoice.
02nd Transaction is the entry coming through the bank reconciliation, so while your reconciling the bank feed, the payment is coded to clearing account and now it is available here for accounting reconciliation.
05. Then you can select both transaction and click on Reconcile
06. Now lets see how we can view the reconciled transactions.
i) Activate the developer mode and Go to Accounting> Journal items
ii) Here, through this matching column we can identify the matched transactions through a unique code, both Debit & credit will have the same code.
iii) Below you can find the relevant debit & credit entries which we reconciled above with the similar code- A271
Before starting the reconciliation you have to make sure that Allow reconciliation for the particular general ledger account is enabled
01. Go to Odoo Dashboard> Accounting> Configuration> Char of Accounts
02. Search for the relevant account through the search bar and check whether the Allow reconciliation is enabled
Once you have confirmed the Allow reconciliation set up, you can start the reconciliation process,
01. Go to Accounting> Reconciliation
02. Here you will see all the accounts which are available for reconciliation, so you can go to the relevant account that your going to reconcile
03. For the testing purpose if you remove those two lines which Odoo has suggested, you can find the debit and credit transactions under the Miscellaneous Matching
04. Here the ,
01st Transaction which is on Debit is the customer payment which has been received for the invoice, once an invoice is created inside odoo, the payment also will get applied automatically for the invoice.
02nd Transaction is the entry coming through the bank reconciliation, so while your reconciling the bank feed, the payment is coded to clearing account and now it is available here for accounting reconciliation.
05. Then you can select both transaction and click on Reconcile
06. Now lets see how we can view the reconciled transactions.
i) Activate the developer mode and Go to Accounting> Journal items
ii) Here, through this matching column we can identify the matched transactions through a unique code, both Debit & credit will have the same code.
iii) Below you can find the relevant debit & credit entries which we reconciled above with the similar code- A271
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