Accounting Integration

Accounting Integration

Connect OpenEduCat modules with Odoo Accounting for automated invoice generation, payment tracking, and financial reporting.

Time Required: 25-40 minutes for initial setup Module: Account (Odoo Core), OpenEduCat Fees Permissions: Accounting Administrator, System Administrator

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Table of Contents

1. Overview
2. Prerequisites
3. Initial Accounting Setup
4. Chart of Accounts Configuration
5. Journal Configuration
6. Product and Fee Account Linking
7. Fee Invoice Flow
8. Payment Processing
9. Bank Reconciliation
10. Multi-Company Setup
11. Troubleshooting

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Overview

The accounting integration enables:

• Automated Invoice Generation - Fee plans create invoices automatically
• Real-time Payment Tracking - Payments update fee status instantly
• Proper Revenue Recognition - Income recorded when earned
• Tax Compliance - Automatic tax calculation and reporting
• Financial Consolidation - Unified view of all financial data

Integration Architecture

OpenEduCat Fees Module
        |
        v
    Fee Plan Created
        |
        v
    Invoice Generated (account.move)
        |
        +---> Journal Entry Created
        |         |
        |         +---> General Ledger Updated
        |
        v
    Payment Registered
        |
        v
    Bank Reconciliation
        |
        v
    Financial Reports

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Prerequisites

Before configuring integration:

• Odoo Accounting module installed
• Company information configured
• Fiscal year established
• Administrator access to both Accounting and OpenEduCat
• Tax rates defined (if applicable)
• Bank accounts set up in Odoo

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Initial Accounting Setup

Step 1: Configure Company Settings

1. Go to Settings > General Settings > Companies
2. Select your institution
3. Configure financial settings:

Field	Description	Example
Currency	Primary operating currency	USD, EUR, INR
Fiscal Country	Country for tax rules	Your country
Chart Template	Accounting standard	Generic, country-specific

Step 2: Set Fiscal Year

1. Go to Accounting > Configuration > Fiscal Years
2. Create or verify fiscal year:

Field	Description	Example
Name	Fiscal year name	FY 2024-25
Start Date	Year begins	2024-07-01
End Date	Year ends	2025-06-30
Company	Institution	Your Institution

Step 3: Configure Accounting Settings

1. Go to Accounting > Configuration > Settings
2. Configure key options:

Setting	Recommendation	Purpose
Default Sale Tax	Set appropriate tax	Auto-apply to invoices
Default Purchase Tax	Set appropriate tax	Auto-apply to bills
Currency Exchange	Enable if multi-currency	Foreign student fees
Analytic Accounting	Enable	Department tracking
Budget Management	Enable	Financial planning

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Chart of Accounts Configuration

Education-Specific Accounts

Create accounts for educational operations:

Revenue Accounts (4xxx)

Code	Name	Type	Purpose
4001	Tuition Fee Income	Income	Regular tuition
4002	Registration Fees	Income	Enrollment charges
4003	Examination Fees	Income	Assessment fees
4004	Laboratory Fees	Income	Lab course charges
4005	Library Fees	Income	Library services
4006	Activity Fees	Income	Extracurricular
4007	Hostel Fees	Income	Accommodation
4008	Transport Fees	Income	Bus service
4009	Late Payment Fees	Income	Penalty charges

Receivable Accounts (1xxx)

Code	Name	Type	Purpose
1200	Student Fee Receivable	Receivable	Outstanding fees
1210	Deferred Admission Fee	Receivable	Advance payments

Liability Accounts (2xxx)

Code	Name	Type	Purpose
2100	Deferred Fee Revenue	Liability	Advance fees received
2110	Refundable Deposits	Liability	Security deposits

Create New Account

1. Go to Accounting > Configuration > Chart of Accounts
2. Click Create
3. Configure:

Field	Description
Code	Account number
Name	Account name
Type	Income, Expense, Asset, Liability, Equity
Allow Reconciliation	Enable for receivables
Deprecated	Leave unchecked

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Journal Configuration

Create Fee Income Journal

1. Go to Accounting > Configuration > Journals
2. Click Create
3. Configure:

Field	Value	Purpose
Name	Student Fees	Journal name
Type	Sales	For customer invoices
Short Code	FEE	Journal code
Default Account	4001 Tuition Fee Income	Default revenue
Sequence	FEE/%(year)s/	Invoice numbering

Create Payment Journals

Cash Journal

Field	Value
Name	Cash - Fee Collection
Type	Cash
Short Code	CASH

Bank Journal

Field	Value
Name	Main Bank Account
Type	Bank
Short Code	BNK
Bank Account	Link to bank account

Online Payment Journal

Field	Value
Name	Online Payments
Type	Bank
Short Code	ONLINE
For Payment Gateway	Link to provider

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Product and Fee Account Linking

Fee products must link to correct income accounts.

Step 1: Access Fee Products

1. Go to OpenEduCat > Configuration > Fee Products
2. Or Invoicing > Products > Products
3. Filter by category: Fee Products

Step 2: Configure Product Accounts

For each fee product:

Field	Configuration
Income Account	Select appropriate revenue account
Expense Account	Not needed for fee products
Tax	Set applicable tax (or none)

Example Product Configuration

Tuition Fee Product:

Field	Value
Name	Tuition Fee
Type	Service
Can be Sold	Yes
Income Account	4001 Tuition Fee Income
Customer Tax	None (or applicable tax)

Lab Fee Product:

Field	Value
Name	Laboratory Fee
Type	Service
Can be Sold	Yes
Income Account	4004 Laboratory Fees
Customer Tax	None (or applicable tax)

Step 3: Link Products to Fee Elements

1. Go to OpenEduCat > Fees > Fee Terms
2. Open fee term
3. In Fee Elements, link products:

Element	Product	Account (via product)
Tuition	Tuition Fee	4001
Lab Fee	Laboratory Fee	4004
Library	Library Fee	4005

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Fee Invoice Flow

Automatic Invoice Generation

When fee plan lines are invoiced:

Fee Plan Line (op.fees.plan.line)
        |
        | get_invoice() method
        v
Invoice Created (account.move)
        |
        | move_type = 'out_invoice'
        | partner_id = student's partner
        v
Invoice Lines (account.move.line)
        |
        | product_id from fee element
        | account_id from product
        | price_unit from fee amount
        v
Journal Entry
        |
        | Debit: Accounts Receivable
        | Credit: Fee Income Account

Invoice States

State	Description	Next Action
Draft	Invoice created	Review and confirm
Posted	Invoice confirmed	Awaiting payment
Paid	Payment received	Complete
Cancelled	Invoice voided	Recreate if needed

Manual Invoice Creation

If needed outside fee plan:

1. Go to Invoicing > Customers > Invoices
2. Click Create
3. Select student as partner
4. Add fee products as lines
5. Confirm invoice

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Payment Processing

Register Payment from Invoice

1. Open posted invoice
2. Click Register Payment
3. Configure payment:

Field	Description
Journal	Cash, Bank, or Online
Payment Method	Manual, Check, Transfer
Amount	Full or partial
Payment Date	Date received
Memo	Reference number

4. Click Create Payment

Automatic Reconciliation

When payment is registered:

• Invoice status updates to Paid (or Partial)
• Fee plan line paid_amount computed
• Student fee record updated

Payment Matching

For bank statement imports:

1. Go to Accounting > Bank > Bank Statements
2. Import statement
3. Match payments to invoices:
   • Auto-matching by reference
   • Manual matching for exceptions

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Bank Reconciliation

Daily Reconciliation Process

1. Import Bank Statement

   • Go to Accounting > Bank > Bank Statements
   • Import or manually enter transactions

2. Match Transactions

   • System suggests matches
   • Review and confirm
   • Handle exceptions manually

3. Reconcile Outstanding Items

   • Match fee payments to invoices
   • Clear reconciled items

Fee Collection Reconciliation

Bank Entry	Odoo Match
Online payment reference	Auto-match to invoice
Bulk deposit	Manual match to multiple invoices
Parent name	Match by partner search

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Multi-Company Setup

For institutions with multiple campuses or entities:

Configure Inter-Company

1. Go to Settings > Users & Companies > Companies
2. Create company for each entity
3. Configure:

Field	Description
Name	Campus/Entity name
Currency	Operating currency
Parent Company	If subsidiary
Chart of Accounts	Own or shared

User Access

1. Assign users to companies
2. Set allowed companies per user
3. Configure default company

Cross-Company Fees

For students enrolled across entities:

• Invoice created in enrollment company
• Inter-company transactions if needed
• Consolidated reporting at parent level

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Troubleshooting

Invoice not creating from fee plan

Problem: “Create Invoice” fails.

Solutions:

1. Verify fee element has product assigned
2. Check product has income account
3. Confirm student has partner record
4. Verify accounting configuration complete

Wrong account on invoice

Problem: Revenue going to wrong account.

Solutions:

1. Check product income account setting
2. Verify fee element product link
3. Update product and regenerate invoice

Payment not updating fee status

Problem: Fee shows unpaid after payment.

Solutions:

1. Verify payment is posted (not draft)
2. Check payment linked to correct invoice
3. Confirm reconciliation complete
4. Recompute fee plan amounts

Bank statement won’t reconcile

Problem: Transactions not matching.

Solutions:

1. Check reference numbers match
2. Verify amounts match exactly
3. Search by partner name
4. Create manual match if needed

Multi-currency issues

Problem: Currency conversion errors.

Solutions:

1. Verify currency rates updated
2. Check invoice currency setting
3. Confirm company default currency
4. Review exchange difference handling

Tax calculation wrong

Problem: Incorrect tax on fee invoice.

Solutions:

1. Check product tax configuration
2. Verify customer tax settings
3. Review fiscal position mapping
4. Check tax exemption rules

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Configuration Checklist

Initial Setup

• Company settings configured
• Fiscal year created
• Accounting settings enabled

Chart of Accounts

• Revenue accounts for each fee type
• Receivable account for student fees
• Deferred revenue account (if applicable)

Journals

• Fee income journal created
• Cash collection journal
• Bank journal linked
• Online payment journal (if applicable)

Products

• Fee products created
• Income accounts linked to products
• Tax settings configured

Fee Integration

• Fee elements linked to products
• Fee terms configured
• Invoice generation tested

Payments

• Payment methods configured
• Bank statement import tested
• Reconciliation process verified

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Related Topics

• Fee Collection
• Online Payments
• Budget Management
• Financial Reports
• Cash Flow Management