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odoo accounting and IFRS posting, reporting, rules and regulations

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Re: odoo accounting and IFRS posting, reporting, rules and regulations

by
dominique.k
- 13/07/2023 08:31:55
Hi Joe,

This is an interesting question. My (limited) knowledge on reporting standards, leads me to believe that having a generic IFRS compliance is asking too much to odoo.There is SO much in IFRS, that i don't see how you can have that. Having seen several SME oriented accounting software, I would say that odoo is likewise, well equipped, for simple processes; but beware of complicated processes. e.g. (but not limited to):
- Recognition of work in progress (for MRP, or for long run services e.g. audit, or in the construction industry, or in the travel industry)
- Everything related to consolidated figures (investment in other companies etc..)

and this is just what I have in mind..
So, it strongly depends on the industry, and i believe that in other standalone software, a lot of schedules are kept in Excel, and the entries are manually passed. Odoo is not worse, and at least some could be automated (customisation)

My 2 cents,
Dominique


On Thu, 13 Jul 2023 at 01:48, Joerg Lorenz <notifications@odoo-community.org> wrote:
Dear Community, 

we are currently investigating the possibility of support of odoo community for accounting with IFRS rules and regulations. Best would be, if we would see a layered chart of accounts and accounting rules dependent on the books to reflect.
There are various applications for layered charts of accounts,  like tax related books, valuation of stock and deprecation of inventory,  in several countries in Italy,etc. 

On IFRS: 
Our current findings are that Vauxoo has done a module formerly, but this is for up to V8 and addresses the matter of reporting only, it appears.

What we do not know is if the invoicing rules, inventory deprecation and other postings and acounting posting templates are present to support a full fledged usage of odoo (community) with IFRS.
It would be very helpful if we could get a couple of practical experience reports like "we have done it, it worked on version XY"

It would be terrific if we could connect our client with one of your clients for exchange of experience, where we would be happy to sign an NDA as well.  Also - if appreciated - we would like to turn this job over to an experiences partner, but this could be step 2. 

First we need to convince the client, that odoo-  and in particular the OCA - is stronger and better than the proprietary competing solutions out there. 

Appreciate the power of out community here. Any comment welcome

Thanks, Joe


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