Since Odoo 14, the accounting journals have in their configuration an Incoming Payments part and an Outgoing Payments part, with bank accounts to be used temporarily, until payments/receivables are reconciled.
Thus, when an invoice is collected, it may appear as In Process of Collection, rather than Collected. If we collect it by bank, we will have to reconcile it to Collected using a bank statement (which can be in standard Norma 43), but, in the case of cash collection, we will have to reconcile it by creating a statement manually, something we can do from the Cash tab of the dashboard.
This operation is very useful for cash management in shops, which want to close and control the daily cash flow, but for other companies, for which the cash figure does not require such a strict control, it is too demanding.
Odoo 14
In Odoo version 14 we can get rid of this operation by configuring the Outstanding Receipts and Outstanding Payments accounts with the same Cash Account that we have in the Accounting entries tab.
Odoo 15/16
In Odoo version 15 & 16, Outstanding Receipts and Outstanding Payments have been separated into two tabs, and fields for these temporary accounts have been created in the Accounting Settings:
Thanks to these options, it is not necessary to put these accounts in each Journal, so that in Incoming and Outgoing Payments we will see something as terse as this, which may prevent us from seeing the power of the new changes:
If we click on the Incoming Payments line that says Manual (in Odoo 15 we don't need to click on Edit first), we will see that all the options available for a single record are opened, much more powerful than the ones we had in Odoo 14. In Payment Account we have the account for this Cash Journal, in which we can put the same Cash Account we have in the first tab, of Accounting Entries:
We hope it has been helpful. We look forward to hearing from you.
Cash Receipts without reconciliation in Odoo