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How to Reconcile a Vendor Deposit directly through Bank Rec ( No Supplier Remittance / Not a Foreign Currency Payment )

You can reconcile a vendor deposit directly through bank reconciliation in Odoo by linking and setting up your bank account with the Odoo accounting module. The module offers reconciliation for Odoo Community and enables easy linking of your invoices and all transaction details with the bank statements. The process of reconciling the bank statement results in credits and debits to the bank account

We have here a sample Purchase Order in that we have already deposited an advance of $1000 




Now, to reconcile your supplier deposit as a spend money transaction,

  1. Go to the relevant bank account on which the payment has been made.
                                                                                                                                                                                                                                                                            
  2. Look for the payment in the feeds accordingly then click "Manual Operations". 
       
  3. Fill in the details in order to record it as Spend Money:
    • Partner: The system will pick the relevant partner if we have already provided it while depositing, if not we can find the partner through the drop-down.
    • Account: GL Account on which the spent money will be recorded
    • Taxes: Tax Rate for your Spend Money. In this case, we will be using No GST(None)
    • Label: You can add the Purchase Order number to add as a description of your "spend money" transaction.
    • Import: Amount to be imported/recorded
    • Analytic: You can provide the relevant analytic account  


  4. Now your feed is ready to be VALIDATED.

Please note that reconciling as a spend money transaction has the below-mentioned limitations. Hence, we would recommend that you choose the stand-alone vendor payment option. 

Below are the limitations, 

1. Payments that involve different currencies. Eg. Paying a USD PO deposit using an NZD bank account. Such scenarios can be done only through a stand-alone vendor payment option as applying the Manual exchange rate feature is not available in the spend money option 

2. Unable to Print and send payment remittance to the supplier


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