Mastering Your Order-to-Cash in Odoo

The Order-to-Cash (O2C) process is the lifeblood of any business, encompassing the entire cycle from a customer's initial order to the final receipt of payment. This critical workflow involves a series of interconnected stages: the creation and approval of a sales quote, the verification of product availability, order fulfillment, shipping, invoicing, and, finally, payment processing. An efficient and accurate O2C cycle is paramount for maintaining healthy cash flow, ensuring customer satisfaction, and supporting sustainable business growth.

Weekly Checklist

• Check for late inventory movements (especially receipts and deliveries).
• Check for late manufacturing orders.
• Check for "To Invoice" sale orders and create invoices.
• Check for "Waiting Bills" purchase orders and create any required bills.
• Check for unreconciled posted customer payments and reconcile with the correct invoices.
• Check for unreconciled posted vendor payments and reconcile with the correct bills.
• Check banks online synchronization to ensure they are still connected.

Monthly Checklist

• Check for late inventory transfers and re-plan scheduled dates (Could be a weekly item):
• • Deliveries
  • Receipts
  • Internal transfers
  • Vendor returns
  • Customer returns
• Import bank statements and reconcile them with payments/transfers.
• Create entries for bank charges.
• Clean any existing negative stock.
• Check for stock report and match with stock on hand.
• Process adjustments for discrepancies.
• Match stock report with stock valuation and balance sheet.
• Reconcile any remaining employee expenses.
• Process monthly adjustments for accounting.
• Add monthly lock date to accounting.
• Create monthly accruals entries  at end of month.

Yearly Checklist

• Create fixed assets entries (until the process is automated).
• Create adjustment entries for bad debts (from invoices).
• Create other adjustments per CPA input.
• Create year end profit/loss transfer to retained earning entry.
• Create accrual entries at year end for closing.