Batch Payment in Odoo 16 Accounting | How to Group Payments Into a Single Batch in Odoo 16

For any accountant, an important task is to match the batch payment with the bank statement. As different payment methods are used for making the batch payment the accounts wing has to take extra effort to coordinate different payment methods and link payment with the bank statement.
#odooaccounting
With Odoo support, a user can easily reconcile multiple payments with bank statements. In short, with the Odoo batch payment mechanism, a user can process a group of transactions together. #odoo16
This will help to complete the processing of multiple bank transactions in a single step. We can also call batch payment a process of aggregating the bank statements of all the payments made.
This also helps to enter a batch of payments as a single entry in the bank records making it helpful for generating reports. The first options are the customer batch payment. This is called inbound batch type.
The second one is vendor bill batch payment. It is called outbound batch type. Inbound batch type helps us to batch multiple numbers of customer payments. #odoofunctionalvideos
At the same time, the outbound batch payment type helps to make groups of vendor payments. This feature helps us to easily reconcile the batches with our bank statements.
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[@charlesm8944]

Great Explanation!

[@cybrosys-technologies]

Glad you think so!