Home › Curriculum › Functional Apps › Accounting setup: localisation, journals and defaults
Accounting and Invoicing · 16 min · 19–20Accounting setup: localisation, journals and defaults
Fiscal localisation, company data, opening balances, journals and default accounts, payment providers and terms.
In this lesson
- Company and fiscal localisation
- Journals, terms and default accounts
- Opening balances and Odoo 20 changes
Key points
- Company data and fiscal localisation first; hard to switch later
- A bank journal per real account; meaningful sequences
- Default accounts on product categories and partners
- Opening: trial balance, open AR/AP per partner, bank, stock; then lock
Real-world example
A Lagos startup imported its opening trial balance as one line per account, including receivables, so the aged receivable report showed one giant 'unknown customer'. The consultant reversed it and imported open invoices per customer instead; collections finally had a usable list.
Questions and answers
Where do you set a product category's income account?
Inventory/Sales → Configuration → Product Categories (Account properties).
What should a bank journal's name and sequence reflect?
The real bank account (for example 'GTBank Ops' with prefix BNK1).