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Odoo Masterclass for Accountants 10 October 2025

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1. What is the fundamental mindset shift required when moving from traditional accounting software to Odoo?
A) Learning new debit and credit rules B) Understanding where transactions begin (from accounting to operations) C) Memorizing more complex journal entry formats D) Becoming faster at data entry
2. In traditional standalone accounting systems, who typically initiates most transactions?
A) Sales department B) Operations manager C) The accountant D) External auditors
3. What is a "Genesis Transaction" in the context of ERP systems?
A) The first transaction entered into the system B) The transaction that originates in operational modules and flows to accounting C) Year-end adjusting entries D) Opening balance entries
4. In Odoo, where does a sales transaction typically begin?
A) With the accountant creating a journal entry B) With a customer quotation/sales order in the Sales module C) With the Finance Director's approval D) With a manual invoice created by accounting
5. When inventory is moved in Odoo, what happens in the accounting module?
A) Nothing - accountants must manually record the movement B) Stock valuation entries and COGS are automatically posted C) Only a notification is sent to the accountant D) Entries are queued for monthly batch processing
6. Which operational module would generate payable and expense entries in Odoo?
A) Sales module B) Manufacturing module C) Purchasing module (Purchase order → Vendor bill → Payment) D) Projects module
7. At the Product level in Odoo, which accounts can be configured?
A) Only the income account B) Only expense and inventory accounts C) Income account, expense account, inventory valuation account, and stock input/output accounts D) No accounts - all must be set at category level
8. What is the purpose of the Product Category in Odoo's accounting configuration?
A) It's purely for organizing products visually B) It acts as a parent configuration that products inherit accounting rules from C) It replaces the need for individual product setup D) It only affects inventory management, not accounting
9. Which costing methods are supported in Odoo for inventory valuation?
A) FIFO only B) LIFO only C) FIFO, Average Cost, and Standard Price D) Only manual cost entry
10. How does the accountant's role transform in an ERP system like Odoo compared to traditional accounting software?
A) From strategic planning to data entry B) From data entry/bookkeeping to system architect and financial controller C) From full control to no involvement D) From financial reporting to sales forecasting