Odoo ERP in Lebanon
Odoo ERP in Lebanon
Odoo is a widely used ERP, running companies of every size across many industries.
Growing companies want an ERP they can extend as the business changes, and Odoo was built that way.
You start with the apps you need and add others later, in the same database.
Odoo Enterprise is a paid product, and its open source base means it can be customized to each company's requirements.
NavyBits worked closely with accountants and auditors in Lebanon to build its own Lebanon localization suite for Odoo, separate from Odoo's standard localization.
The suite follows the standards and practices used in Lebanon for dual currency, CNSS payroll, synchronized books and VAT. It is part of our Odoo implementation work for Lebanese companies.
Why Lebanese companies need the NavyBits localization
Out of the box, Odoo follows international accounting standards. That suits most companies in the world, yet businesses in Lebanon work differently.
Lebanese companies price, get paid and report in more than one currency as a matter of routine.
Accountants and auditors expect to see USD and LBP on every journal entry, with the entry balanced in both currencies.
To handle this, we created the Lebanon Advanced Accounting module, which adapts Odoo ERP to Lebanese practice.
The localization follows standard accounting practice. It is used by companies across Lebanon and reviewed by their auditors and accountants. The same modules also work in other countries where every journal item has to carry two currencies, Ghana for example.
Key features of the NavyBits Lebanese accounting module
Here are some of the main features of the Odoo Lebanon localization 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
Already running Odoo with another partner and missing these features? Our Odoo support team can look at your database and tell you what adding the localization would involve. If you are still choosing a partner, read 5 reasons to choose NavyBits as your Odoo ERP partner in Lebanon.
To see the localization working with your own figures, book a free 30-minute call with our team.