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Accounting Quiz

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1. Where can you record a vendor bill in Odoo?
Sales → Orders Accounting → Customers → Invoices Accounting → Vendors → Bills Inventory → Products
2. Where do you configure default taxes for products in Odoo?
Sales → Configuration → Pricelists Accounting → Configuration → Taxes Inventory → Settings CRM → Opportunities
3. How do you record a customer payment in Odoo after receiving money?
Create a delivery order Go to Sales → Quotations and cancel it Go to Accounting → Customers → Payments Modify the journal directly
4. In Odoo, how does the reconciliation process work for bank statements?
Reconciliation must be done manually for every payment Odoo automatically reconciles payments with open invoices using smart matching. You can only reconcile customer payments, not vendor payments Reconciliation is only available in the Sales module.
5. What happens automatically in Odoo when a customer invoice is validated?
The system deletes the sales order A delivery order is triggered immediately. Journal entries are posted to the general ledger. A new journal is created for the invoice
6. When would you typically use a credit note in Odoo Accounting?
To cancel a vendor bill To record an incoming payment To refund a customer for an already invoiced amount To convert a sales quotation into a sales order
7. What does setting a payment term of “15 Days” on a customer invoice mean?
The invoice must be paid in 15 installments The invoice will expire in 15 days The due date of the invoice will be 15 days from the invoice date The invoice can be paid in 15-day intervals
8. In Odoo Accounting, what happens when a customer makes a partial payment on an invoice?
The system automatically cancels the invoice The payment is ignored until the full amount is received The invoice remains open with the residual amount due The invoice is automatically marked as paid