The Missing Statement of Account in Odoo

These businesses faced common pain points:

Extracting a complete picture of account activity required navigating multiple reports, leading to inefficiency and confusion.

Standard reports often lack clear labeling, making it difficult for non-accountants to understand the nature of transactions (invoices, payments, credit notes, etc.).

Generating and sending account summaries to customers and vendors was a time-consuming manual process, involving individual emails and potential for errors.

Businesses lacked the ability to tailor reports with specific information or branding elements to enhance communication and professionalism.

Generating reports in customer-specific currencies was not readily available.

Recognising these challenges, Numla developed a custom Statement of Account report within Odoo, extending the platform’s reporting capabilities to meet the specific needs of our Irish clients. This solution delivers:

Provides a single, comprehensive overview of all account activity, including invoices, payments, credit notes, and aging balances.

Uses clear labels and intuitive formatting to ensure easy understanding for all users, regardless of accounting expertise.

Enables scheduled, automatic email delivery of statements to customers and vendors, with options to exclude specific recipients or send manually as needed.

Allows businesses to personalise reports with their branding, add custom fields, and tailor email templates for a professional touch.

Generates statements in the customer's preferred currency for improved clarity and convenience.

The impact of Numla's Statement of Account report has been significant:

Automated reporting minimises errors associated with manual data extraction and reconciliation.

Clear, detailed statements reduce discrepancies and minimise customer or vendor disputes.

Automation frees up valuable staff time previously spent on manual report generation and communication.

Transparent and easily understandable statements foster trust and improve customer and vendor relationships.

Clear aging information facilitates timely payment collection and better cash flow management.

Provides management with a clearer, more accessible overview of customer and vendor account health.

Numla's custom Statement of Account report empowers Irish businesses using Odoo to overcome the limitations of standard reporting and unlock the true potential of their financial data. By providing clarity, efficiency, and automation, this solution helps businesses strengthen relationships, optimise cash flow, and drive growth.