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A month-end close that does not depend on manual reconciliation

We review how information reaches accounting, where time is lost every month and which system fits, before proposing any software.

Take the assessment (9 min)

34 questions, result at the end, free of charge.

Open lever-arch file with documents and dividers
5 dimensionsLevel, gaps and first step when you finish

Accounting system: definition and use

An accounting system, or financial ERP, records journal entries, receivables and payables, taxes, fixed assets and period closes under the Peruvian chart of accounts and rules.

When it is well connected, every sale, purchase or payment creates its entry at the time it happens. Accounting stops keying in and starts reviewing.

Signs your accounting needs attention

  • The monthly close takes more than ten days
  • Posted entries are deleted instead of reversed
  • SPOT deductions and withholdings are tracked in spreadsheets
  • Exchange differences on dollar payments are adjusted by hand
  • Analytic reporting by cost centre or project does not tie to the books
  • Auditors ask who changed what and there is no way to show it

Who it is for and when it does not fit

A good fit for

  • Companies with in-house accounting and a close that runs past ten days
  • Finance managers who receive sales and purchasing figures in spreadsheets
  • Groups with several legal entities in soles and dollars
  • Companies preparing for an audit or a bank loan

Not a fit when

  • An outside firm keeps all the books and only receives vouchers: sorting out how documents are sent comes first
  • The problem sits in purchasing or sales: the assessment starts with that process
  • The current system meets the requirements and the delay comes from permissions or habits: it is tidied up without migrating

Cost of a manual close

Reconciliation hours repeat every month and appear in no report. Work out the cost with your own figures.

Example: a three-person closing team at S/ 35 an hour. Replace the values with yours.

Hours a month78 h
Cost a monthS/ 2,728
Cost a yearS/ 32,735

The estimate shows what the manual task costs today. It is not a savings promise.

How it works in Odoo 20

Entries, period locks and reversals

In Odoo 20 every invoice, payment or manual entry starts as Draft and becomes Posted when confirmed. A posted entry is not deleted: it is corrected with the Reverse Entry button, which creates the opposite entry with its reference.

The close is protected from Accounting › Lock Dates: sales, purchases, tax return and a hard lock that nobody can lift.

Journal entry states

  1. Draft
  2. Posted
  3. Reversed
  4. Period locked
Odoo 20 Lock Journal Entries dialog with sales lock, tax return lock and hard lock
Odoo 20 Lock Journal Entries dialog with sales lock, tax return lock and hard lock
Odoo 20 Lock Journal Entries dialog with sales lock, tax return lock and hard lock
Odoo 20 Lock Journal Entries dialog with sales lock, tax return lock and hard lock
Odoo 20 Lock Journal Entries dialog with sales lock, tax return lock and hard lock
Odoo 20 Lock Journal Entries dialog with sales lock, tax return lock and hard lock
Lock dates by type of transaction
  1. Sales lock
  2. Tax return lock
  3. Hard lock
Real screenshot of standard Odoo 20, demo instance with test data.
Posted journal entry in Odoo 20 with Peruvian chart of accounts lines and the Reverse Entry button
Posted journal entry in Odoo 20 with Peruvian chart of accounts lines and the Reverse Entry button
Posted journal entry in Odoo 20 with Peruvian chart of accounts lines and the Reverse Entry button
Posted journal entry in Odoo 20 with Peruvian chart of accounts lines and the Reverse Entry button
Posted journal entry in Odoo 20 with Peruvian chart of accounts lines and the Reverse Entry button
Posted journal entry in Odoo 20 with Peruvian chart of accounts lines and the Reverse Entry button
Posted entry on the Peruvian chart of accounts
  1. Reverse Entry
  2. Posted status
  3. Journal items
Real screenshot of standard Odoo 20, demo instance with test data.
DMG-RT method

The method applied to accounting and the month-end close

Diego Muñoz leads every assessment: process and data first, then the tool, in short phases you approve.

  1. Walk through the close

    We follow a real month with the person who closes it: where each figure comes from, what is reconciled and how long each task takes.

  2. Data and permission review

    We check the chart of accounts against actual use, the opening balances and who can delete or edit entries.

  3. Requirements and options

    Every spreadsheet and manual adjustment becomes a requirement. With that list we compare your current system with two or three options.

  4. Phased plan with one indicator

    We propose short phases tied to one indicator, such as days to close, measured before and after.

See the full method

Layered diagram: bank, reconciliation and accounting

Deliverables

  • Map of the current close with time per task
  • Prioritised requirements list, including every spreadsheet that holds up accounting today
  • Role-based permission matrix and rules for correcting entries
  • Comparison of options with three-year total cost

Prerequisites and outputs

Prerequisites

  • Peruvian chart of accounts (PCGE) checked against actual use
  • Opening balances reconciled by account, customer and supplier
  • Journals by document series and bank account
  • VAT (IGV), SPOT and withholding taxes with their accounts
  • Permission matrix: who posts, who reverses, who locks

Outputs: financial statements, entries and PLE files

  • Trial Balance and General Ledger by period
  • Balance sheet and profit and loss under local accounting standards
  • Exchange difference and regularisation entries
  • Audit trail of every change to posted entries
  • PLE 5.1, 5.3 and 6.1 files from the General Ledger

Key settings

Standard Odoo 20 settings that change how the process behaves. They are set during the configuration phase, based on the assessment answers.

  1. Lock dates

    Where Accounting › Accounting › Lock Dates

    One lock each for sales, purchases and tax return, plus a hard lock that cannot be lifted. After filing, nobody posts in that period.

  2. Deferred entry generation

    Where Settings › Accounting › Deferred expense entries

    «On bill validation» creates the deferral entries when the bill is posted and asks for a periodicity. «Manually & Grouped» leaves them for the close.

  3. Fiscal years

    Where Settings › Accounting › Fiscal Years

    Allows fiscal years longer or shorter than twelve months, such as a new company’s first year.

Before
Odoo 20 deferred expense setting with manual generation
Odoo 20 deferred expense setting with manual generation
After
Odoo 20 deferred expense setting generating on validation, with the periodicity field shown
Odoo 20 deferred expense setting generating on validation, with the periodicity field shown
Before
Odoo 20 deferred expense setting with manual generation
Odoo 20 deferred expense setting with manual generation
After
Odoo 20 deferred expense setting generating on validation, with the periodicity field shown
Odoo 20 deferred expense setting generating on validation, with the periodicity field shown
Before
Odoo 20 deferred expense setting with manual generation
Odoo 20 deferred expense setting with manual generation
After
Odoo 20 deferred expense setting generating on validation, with the periodicity field shown
Odoo 20 deferred expense setting generating on validation, with the periodicity field shown
Deferrals: «Manually & Grouped» versus «On bill validation»Real screenshots of standard Odoo 20 in the demo instance. The setting was not saved.

What almost nobody uses

Standard features that come installed and are rarely configured. Each one shows where it sits in the menu and in the source code.

  • Recurring entries

    Where Journal entry › Other Info › Auto-post

    Monthly, quarterly or yearly, with an end date. It covers rent, insurance and fixed accruals without separate templates.

    Code account/​models/​account_move.py:297

  • Deferral from the bill line

    Where Vendor bill › line › Start Date and End Date

    With both dates on the line, Odoo spreads the expense over the months of the period. An annual policy is entered once.

    Code account_accountant/​models/​account_move.py:617

  • SUNAT transaction type on the entry

    Where Journal entry › Other Info › PLE Transaction Type

    Flags the opening or closing entry for books 5.1, 5.2 and 6.1 without changing the entry.

    Code l10n_pe_reports/​models/​account_move.py:45

Online assessment

Assessment dimensions

This analysis reviews the monthly close, the origin of entries, reconciliations, the treatment of SPOT and withholdings and analytics by project or cost center. The questions describe observable situations in the accounting area, ordered from no control to recording measured in the system.

What you receive

When you finish you receive a level per dimension and the list of gaps in your accounting. Each gap comes with the first action that can be verified at the next close.

17 scored questions and 12 context questions (type of operation, size, current system). Context questions are not scored: they let us read the result against similar operations.

Take the assessment (9 min)
  1. Monthly closing calendarIt looks at whether the month-end close follows tasks with an owner, a lock date and accruals booked on time.
  2. Entry origin and traceabilityIt looks at whether each entry comes from the operating document, is corrected by reversal and records who made it.
  3. Bank and subledger reconciliationIt looks at whether ledger balances agree with banks, receivables, payables and exchange differences, with open items identified.
  4. SUNAT withholdings and filingsIt looks at whether the system identifies SPOT deductions, withholdings and perceptions, and whether monthly returns and books are filed with proof.
  5. Chart of accounts and project analyticsIt looks at whether the chart of accounts follows the Peruvian general chart with creation rules and whether each cost and revenue carries its cost center, project or job.

Market options

We choose with your requirements in hand. Odoo is one of the options we implement; when another fits better, we say so.

Odoo

Accounting with Peruvian localisation: PCGE, VAT, SPOT deductions, withholdings, analytic accounting and bank reconciliation in the same database as purchasing and sales.

Odoo 20 technical modules

  • account_accountant
  • l10n_pe
  • l10n_pe_reports
  • account_asset

We implement it.

Other options

International financial ERPs for groups with several companies or countries, and local accounting packages when the need is mainly tax compliance.

  • SAP S/4HANA Finance
  • Oracle NetSuite
  • Microsoft Dynamics 365 Business Central
  • Sage Intacct
  • Starsoft
  • SIGO / Concar (soluciones locales)

International financial ERPs and local accounting packages; the order shows no preference.

Selection criteria

  • Close in working days with your actual entry volume
  • SPOT, withholdings and exchange rates without side spreadsheets
  • Reversal and period locks instead of deletion
  • PLE export tested with one month of your data

Limits of the standard product

  • Consolidation of several companies with intercompany eliminations

    How it is handled

    Covered with multi-company and group reports; if more is needed, with a consolidation tool

  • Board-specific report layouts

    How it is handled

    They are configured as accounting reports under Configuration, without development

  • Inflation adjustment or IFRS other than the local basis

    How it is handled

    Handled with multiple ledgers or adjustment entries; there is no automatic calculation

Peruvian localisation

  • PCGE chart of accounts and SUNAT table 10 document types
  • SPOT deductions with certificate number and date on the vendor bill
  • VAT withholdings with their certificate
  • SUNAT exchange rate for dollar transactions

From assessment to implementation

01

Close assessment

Walk-through of a real month, map of tasks and times, and a requirements list.

02

System selection

Comparison of two to four options using your data and chart of accounts.

03

Implementation with Odoo

Chart of accounts, Peruvian taxes, analytics, banks, permissions and the close, in phases you approve.

04

Tidy up your current system

If the system works, we adjust permissions, lock dates and tax rules without migrating.

Diego Muñoz, process and technology consultant
Scope, in Diego’s words

I implement accounting with Odoo and its Peruvian localisation: chart of accounts, VAT (IGV), withholdings, analytic accounting and the close. If your case calls for another platform, I compare market options against your requirements and help you choose.

Systems that connect with accounting and the month-end close

Accounting receives entries from every module: invoices, payments, expenses, payroll and stock moves. The links lead to each system’s assessment.

Accounting and financial ERP

Before you start

Clipboard with a ticked checklist

Yes. The assessment measures how information reaches the accountant. The bottleneck is often before them, in the spreadsheets they receive.

Not necessarily. If your current system covers your requirements, the recommendation is to organise it. A change is proposed only when the fit-gap analysis justifies it.

Reconciled opening balances are migrated and, if needed, open documents too. Earlier history stays available in the source system.

The online assessment and the 30-minute review are free. The full assessment and implementation are quoted by phase.

Only Diego Muñoz, to prepare the review. They are not shared with third parties.

Start with the online assessment

At the end you see your level and where to start. If you like, we review it in a 30-minute video call with Diego Muñoz.

Take the assessment (9 min)Message on WhatsAppBook 30 minutes

WhatsApp +51 919 488 260 · damunoz@dmunozgroup.com