· Integrate bank accounts to fetch transaction data directly into Odoo.
Integration Between Odoo ERP and Financial/Banking Systems
What is the purpose of this integration?
The main goal is to automatically import bank transaction data into the Odoo system, allowing for:
· Automatic matching of bank transactions with invoices or payments
· Reducing manual data entry
· Real-time updates of bank balances within Odoo
Examples of integration methods:
· Local and international bank accounts via formats like MT940 or CAMT
· Direct API integrations with banks that support it, such as:
o Al Rajhi Bank
o National Commercial Bank (NCB)
o Alinma Bank
o Or international banks like HSBC, Barclays
Automated functionalities:
· Daily import of bank statements
· Matching deposits and withdrawals with customer or vendor invoices
· Displaying bank balances in Odoo’s financial reports
Benefits:
· Faster and easier bank reconciliation
· Up-to-date financial reporting
· Reduced human errors
· Support for audit readiness and financial transparency