This is the third article in our four-part series exploring the new accounting features in Odoo 19. Having covered automated e-invoicing, self-billing, bank reconciliation, and payment processing, we now turn our attention to the significant improvements in expense management and VAT processing. Odoo 19 introduces a range of new tools and enhancements designed to provide greater control over employee expenses, simplify VAT compliance, and streamline period-end closing procedures.
Advanced Expense Control and Virtual Cards
Odoo 19 takes expense management to the next level with the introduction of advanced expense control features and the integration of virtual cards. The new Odoo Expense Credit Card, powered by Stripe, allows businesses to issue virtual and physical cards to employees, providing a seamless and controlled way to manage company spending. This eliminates the need for employees to use their own money for business expenses and simplifies the reimbursement process.
One of the most innovative features is the automated creation of expenses from card transactions. When an employee uses their Odoo Expense Card, the transaction is automatically recorded in Odoo, and an expense is created. This eliminates the need for manual expense reporting, saving time and reducing the risk of errors.
Simplified VAT Period Management and Checks
Odoo 19 introduces a new Tax Return Dashboard that centralizes all tax-related deadlines and obligations, providing a clear and concise overview of a company’s tax situation. This new feature is designed to simplify VAT compliance and reduce the stress of tax season.
The Tax Return Dashboard includes a list of automated validation checks to ensure the accuracy of tax filings. These checks help to identify potential errors before the tax return is submitted, reducing the risk of penalties and audits. The system also sends email reminders for upcoming tax deadlines, ensuring that businesses never miss a filing.
Conclusion
Odoo 19’s new expense management and VAT processing features provide businesses with a powerful and intuitive solution for managing employee spending and ensuring tax compliance. By leveraging automation, virtual cards, and a centralized tax dashboard, Odoo empowers businesses to achieve greater control over their finances, reduce administrative overhead, and minimize the risk of errors. In our final article, we will explore the advancements in closing, auditing, and advanced analytics.
Odoo 19: Mastering Expense Management and VAT Processing