Odoo ERP in Lebanon
Odoo is the fastest growing ERP software in the world right now, with more than 8 million users, in multiple industries and companies of all sizes.
It's easy to understand why Odoo ERP is expanding.
Successful businesses look for a powerful ERP, recommended by Gartner, and with the ability to expand, grow and adapt to their business needs.
Odoo ERP is not free, but it's open source enabling companies to customize it according to their requirements.
NavyBits worked closely with accountants and auditors in Lebanon to create a unique module for Odoo Lebanon Localization.
This module follows the standards and practices in Lebanon.
Why do you need NavyBits Odoo ERP Lebanon Localization
Out of the box, Odoo follows the international standards in accounting. While this is acceptable for the majority of businesses, in Lebanon businesses have different behavior.
It is the norm in Lebanon to have multiple currencies and to accept payment in multiple currencies and to require reports in multiple currencies.
Accountants and auditors expect to see USD and LBP at every journal entry and expect to see balanced entries for both currencies.
To accomplish this, we created Lebanon Advanced Accounting module that adapts Odoo ERP to Lebanon Localization.
This localization contains standard accounting practices, and it was reviewed and accepted by Lebanese accountants and auditors.
Top features of NavyBits Odoo Lebanese Accounting module
Below is a partial list highlighting the top 10 features of the Odoo Lebanon ERP customization developed by NavyBits:
- Lebanese Chart of Accounts
- Support for Second Currency
- Second currency recorded at the account move level
- Financial reports in your currency of choice
- Customization of your documents layouts
- Closing Entries as required in Lebanon
- Interest calculation for the company shareholders as mandated by Lebanese law
- Correct computation of fixed assets depreciation as per the Lebanese Ministry of Finance table
- Ability to record exchange rate at each transaction
- Ability to write the value in Letters on invoices
- Separate rates for VAT and other invoice lines