A Complete Guide to Payment Methods and Payment Types in Odoo 18

Introduction

Whether you’re running an eCommerce store, a service-based company, or a subscription business, handling payments efficiently is at the core of financial success. With the release of Odoo 18, managing various payment methods and transaction types has become more streamlined, powerful, and flexible than ever.

In this article, we’ll explore:

• The difference between payment methods and payment types

• How to configure and use them

• Online payment acquirers in Odoo

• Best practices for managing payments in Accounting, Sales, and eCommerce

 

Payment Terminology in Odoo

Let’s clarify two terms that are sometimes confused:

• Inbound (customer payments)

• Outbound (vendor payments)

• Internal (bank-to-bank transfers)

 

Built-in Payment Types in Odoo

Odoo 18 handles three core types of payments:

1. Inbound Payments

Used when a customer pays you:

• Customer invoice payment

• eCommerce purchase

• Subscription renewal

• POS sale

📌 You’ll encounter this in:

• Accounting > Customers > Payments

• Sales > Invoices

• Website > Checkout Flow

2. Outbound Payments

Used when you pay a vendor/supplier:

• Supplier bills

• Employee reimbursements

• Loan repayments

📌 You’ll see this in:

• Accounting > Vendors > Payments

• Purchase Orders > Bills

3. Internal Transfers

Used for:

• Transferring between bank accounts

• Moving cash between locations

📌 Found under:

• Accounting > Accounting > Internal Transfers

 

Configuring Payment Methods in Odoo

To define or edit a payment method, go to:

Accounting > Configuration > Journals

Select or create a journal (e.g., Bank, Cash, Stripe)

Each journal has:

• A journal type (Bank, Cash, Miscellaneous)

• Linked payment methods (e.g., manual, SEPA, Credit Card)

• Associated accounts for reconciliation

 

Enabling Online Payment Acquirers

To receive payments from customers online (e.g., through your website or invoice portal), you need to set up payment acquirers.

Go to Website / Invoicing > Configuration > Payment Acquirers

Odoo 18 supports:

🔐 Most acquirers support:

• 3D Secure

• Webhooks

• Refunds

• Tokenization (for subscriptions)

 

Payment Integration Across Odoo Apps

Odoo’s power lies in its tight integration across modules. Here’s how payment methods/types work across the ecosystem:

Advanced Payment Features in Odoo 18

 

Multi-currency Payments

• Set journal currency

• Gain/loss recognition at reconciliation

Partial Payments

• Register a payment for a portion of an invoice

• Remaining balance stays open

Batch Payments

• Pay multiple vendor bills in a single transaction

• Available in Accounting > Vendors > Batch Payments

Payment Matching & Reconciliation

• Odoo’s smart reconciliation tool auto-suggests matches based on references, amounts, and due dates

• You can match manually or through uploaded bank statements (CSV, OFX, CAMT.053)

SEPA & Bank Integrations

• Odoo supports SEPA Direct Debit/Transfer for EU banks

• Bank Synchronization APIs available for automatic bank feeds

 

How to Register a Payment Manually

For Customers:

1. Go to Accounting > Customers > Invoices

2. Open an invoice

3. Click Register Payment

4. Choose:

   • Payment Method (e.g., Stripe, Bank)

   • Amount

   • Date

   • Journal

For Vendors:

1. Go to Accounting > Vendors > Bills

2. Open a bill

3. Click Register Payment

 

Payment Reporting

Access payment-related reports via:

• Accounting > Reporting > Payments

• Customer Statements

• Aged Receivables / Payables

• Bank Reconciliation Status

These give you a clear overview of:

• Total cash flow

• Payment delays

• Unpaid invoices

• Refunds and chargebacks

 

Security and Compliance

Odoo supports:

• PCI-compliant acquirers (Stripe, PayPal, etc.)

• 2FA for payment authorizations

• Secure storage of tokens for subscriptions

• Audit trails for every payment action

 

Best Practices

Final Thoughts

Odoo 18 empowers businesses of all sizes to handle complex payment workflows with ease. Whether you’re accepting payments from global customers or managing multi-currency vendor payouts, Odoo’s unified system simplifies the entire process.

By using the right mix of payment types, methods, and automation, you not only improve operational efficiency but also deliver a better experience to your customers.

About us

We are Timus Consulting Services, a fast-growing, premium Governance, Risk, and compliance (GRC) consulting firm, with a specialization in the GRC implementation, customization, and support.

Our team has consolidated experience of more than 15 years working with financial majors across the globe. Our team is comprised of experienced GRC and technology professionals that have an average of 10 years of experience. Our services include:

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2. GRC Training
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Our team

Our team (consultants in their previous roles) have worked on some of the major OpenPages projects for fortune 500 clients across the globe. Over the past year, we have experienced rapid growth and as of now we have a team of 15+ experienced and fully certified OpenPages consultants, OpenPages QA and OpenPages lead/architects at all experience levels.

 

Our key strengths

Our expertise lies in covering the length and breadth of the IBM OpenPages GRC platform. We   specialize in:

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Connect with us

Feel free to reach out to us for any of your GRC requirements.

Email: Business@timusconsulting.com

Phone: +91 9665833224

WhatsApp: +44 7424222412

Website:   www.Timusconsulting.com