Short answer: Yes. Odoo handles sales and purchases in any currency, updates exchange rates automatically, books realised exchange differences, adds landed costs such as freight and duties to product cost, and supports several companies in one database. That covers the core needs of most import, export and trading businesses.
What trading companies need
| Need | How Odoo handles it |
|---|---|
| Buy and sell in several currencies | Currency per order, invoice and bank account |
| Exchange rates | Automatic daily rates from sources such as the European Central Bank |
| Exchange differences | Realised differences booked automatically on payment; revaluation of open balances |
| Real product cost | Landed costs: freight, insurance and duties allocated to products |
| Margin per deal | Margin per order, product, customer and supplier |
| Several legal entities | Multi-company with inter-company sales and purchases |
| Documents | Proforma invoices, packing lists and delivery documents per shipment |
Typical setup for a trading company
- Sales, Purchase, Inventory and Accounting as the core
- Currencies, rate provider and bank accounts per currency
- Landed cost rules for each type of shipment
- Multi-company if you trade through several entities
- Approval rules for large purchases
Points to plan carefully
- VAT and customs rules in each country you trade with
- Which company is the seller of record for each flow
- Intrastat or other statistical reporting where required
- Who maintains exchange rates and when
Talk to us
Nexus International Commerce is an independent Odoo service provider based in Nicosia, Cyprus, working with businesses in Europe, the US, the Middle East and Africa. Our team has more than 20 years of experience in IT systems and IT project management. Book a free 30-minute consultation and get a clear recommendation for your business.
Odoo® is a registered trademark of Odoo S.A. Nexus International Commerce is an independent Odoo service provider and is not affiliated with, endorsed by or sponsored by Odoo S.A.