Can Odoo handle multi-currency accounting properly or does it need heavy customization?
We invoice clients in 3 different currencies. Does Odoo actually handle multi-currency accounting out of the box or is that usually something that needs custom work?
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It's handled natively, exchange rates can update automatically and it tracks currency gain and loss on its own. For most businesses invoicing in a few currencies, standard Odoo just works out of the box. Customization usually only comes up for specific regional compliance stuff or unusual revaluation rules, not basic multi-currency invoicing.
Team
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We run 2 currencies and it's handled everything fine without touching any code, just had to set the exchange rate update frequency properly in settings.
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One thing to watch for though, realized vs unrealized currency gains on the balance sheet still need a proper month end close process, it doesn't just sort itself out automatically.