Accounting: certification questions & answers

Accounting

1. Q1 Invoice: 2 lines, same account, same tax → journal items Confirmed

   Answer 4 (2 income + 1 tax + 1 receivable)

   Why / where Income lines aren't merged

2. Q2 Fiscal position by country automatically Confirmed

   Answer Set the country on the fiscal position + Detect Automatically

3. Q3 Progressive (accelerating) depreciation Likely

   Answer Asset model with Declining method and a negative declining factor

4. Q4 Follow-up level actions Confirmed

   Answer All: email, letter, SMS (and WhatsApp in v19)

5. Q5 Change income/expense account per partner Confirmed

   Answer Fiscal positions (account mapping)

6. Q6 Defined on the partner (Accounting tab) Confirmed

   Answer Payment method, preferred sending method, invoice follow-ups

7. Q7 PO line highlighted red Confirmed

   Answer It will exceed the analytic budget if confirmed

8. Q8 Inter-company invoices ↔ bills Likely

   Answer Enable Inter-company transactions; set Generate Bills and Refunds on the companies involved

9. Q9 Pay an invoice with installment terms in full Confirmed

   Answer Enter the full amount in the payment wizard ("full amount" option)

10. Q10 Make payments create journal entries immediately Confirmed

    Answer Put an outstanding receipts/payments account on the journal's payment method

11. Q11 Spelled-out total on the invoice Confirmed

    Answer Settings > Total amount of invoice in letters

12. Q12 Account in a foreign currency Likely

    Answer Invoice in the account currency; journal items also stored in company currency

13. Q13 No currency on an account Confirmed

    Answer Usable in any currency

14. Q14 Auto-update currency rates Confirmed

    Answer Daily / weekly / monthly

15. Q15 Bank statement format NOT importable Confirmed

    Answer XBRL (CSV, XLSX, OFX, QIF, CODA, CAMT are fine)

16. Q16 Journal types you can lock specifically (v18) Confirmed

    Answer Sales and Purchase (+ tax-return lock, everything/hard lock)

17. Q17 Lock date only for vendor bills Confirmed

    Answer Lock Purchases date

18. Q18 Tax rounding Confirmed

    Answer Per line or globally, depending on configuration

19. Q19 Change a posted entry's number Confirmed

    Answer Single: reset to draft and edit. Mass: developer mode > Resequence action

20. Q20 Financial budgets (v18) Confirmed

    Answer Create a budget on the Profit & Loss report to compare

21. Q21 Journal types besides Miscellaneous (v18) Confirmed

    Answer Bank, Cash, Credit Card, Sales, Purchase

22. Q22 Cancel all journal entries before a date Verify in Odoo

    Answer Set the date in Invoicing Switch Threshold (Accounting settings)

23. Q23 Bill dated before the tax-return lock date Verify in Odoo

    Answer Odoo posts it but moves the accounting date to the first open period

24. Q24 Correct something after "Lock Everything" Confirmed

    Answer A user with rights can grant a temporary lock-date exception (themselves or others, for a duration)

25. Q25 Can accounts belong to several companies (v18)? Verify in Odoo

    Answer Yes. Odoo 18 lets one account be shared across companies

26. Q26 Stock valuation accounts are set on Confirmed

    Answer Product category

27. Q27 Landed costs work with Confirmed

    Answer FIFO and AVCO (not Standard)

28. Q28 Expense product taxes Confirmed

    Answer Both tax-included and tax-excluded work