Managing Cash Transfer Limits in Odoo

Restricting Cash Transfers in Odoo

Enhancing Financial Control with Cash Transfer Limits in Odoo

Preventing Overspending: Cash Transfer Limits in Odoo

Odoo Cash Management: Set User Based, Daily, Weekly, and Monthly Limits

Preventing Excessive Cash Transfers: User & Duration-Based Limits in Odoo

This module introduces a comprehensive cash transfer limit system for Odoo, focusing on controlling cash transfers based on predefined user-specific, time-based limits (daily, weekly, and monthly). It enhances the security and compliance of cash management by integrating an approval process for transfers that exceed defined limits. Users can submit requests for manager approval, and once approved, the system processes the payment. Administrators can also manage the approval flow and override limits when necessary. Additionally, notifications and alerts are triggered to keep both users and managers informed.

Main Features:

• User-Specific Cash Transfer Limits:
• This feature allows each user to have a customized cash transfer limit based on their individual requirements.
• These limits ensure that users cannot transfer more cash than whats allowed, providing an extra layer of security and control over cash flow.
• Admins can override the limits when necessary, ensuring flexibility during emergencies.
• Time-Based Cash Transfer Limits:
• You can configure cash transfer limits that reset on a daily, weekly, or monthly basis.
• This means that users are only allowed to transfer a specific amount within a set time frame. For example, you can set a daily transfer limit that resets every 24 hours, a weekly limit that refreshes every 7 days, or a monthly limit that resets at the start of each month.
• These time-based limits make it easier to control cash flow and prevent large, unapproved transactions.
• Manager Approval Workflow:
• For transfers that exceed the set limits, a manager approval workflow is triggered.
• If a user tries to exceed their allowed transfer amount, they must submit a request for approval.
• The system automatically notifies the manager, who can then approve or reject the transfer.
• This feature ensures that high-risk or large transactions are carefully reviewed, adding a layer of security and accountability before processing.
• Cash Reconciliation:
• The system ensures that only transfers within the approved limits are processed by verifying the users eligibility before bank reconciliations take place.
• This feature prevents discrepancies between recorded payments and actual bank statements, making financial reconciliation more efficient and accurate.
• Notifications and Alerts:
• This module keeps both users and managers informed through real-time notifications by mail as shown.
• Users receive alerts when they are close to reaching their transfer limit, while managers are notified whenever approval is required for a transaction.
• These notifications help everyone stay up-to-date and prevent any surprises during cash transfers.
• With email notifications, users and managers are kept informed of the current status of payment requests.
• Admin Override Capability:
• Admins have the ability to temporarily override cash transfer limits in exceptional circumstances.
• This provides flexibility in case of emergencies or urgent business needs while maintaining overall control over financial transactions.
• Chatter Logs for Transparency:
• All actions related to cash transfers, such as approvals, rejections, and limit changes, are logged in an odoo chatter.
• This ensures transparency and accountability, making it easy to track the history of each transfer and approval process.

Workflow:

• Setting User-Specific Cash Transfer Limits:
  • The system administrator assigns a transfer limit to each user.
  • Each users maximum allowable transfer amount is set based on their role or needs.
• Time-Based Transfer Limits Configuration:
  • The admin configures the time-based transfer limits (daily, weekly, and monthly) within the account.journal model.
  • These limits help control the amount of cash transferred over various periods, preventing fraudulent or unauthorized large transactions.
• Transfer Requests & Approvals:
  • User Initiates a Payment: A user tries to make a cash transfer.
  • Limit Validation: The system checks if the user has exceeded their daily, weekly, or monthly limit.
  • Approval Request: If the limit is exceeded, a "Request Manager Approval" button appears, allowing the user to submit the payment request for manager approval.
  • Manager Approval: The manager receives an email notification with the approval request and can approve or reject the transaction.
  • Payment Confirmation: Upon approval, the system processes the payment, and the user can finalize the transfer.
• Reconciliation of Bank Statements:
  • The user eligibility for making transfers is checked before reconciling the internal transactions with bank statements.
  • Only approved payments that are within the allowed transfer limits are reconciled with the cash, ensuring that all transactions are within legal and financial compliance.