Financial Transparency with Odoo:
Restoring Data Integrity

Client:

Berchtold Medical

Industry:

MedTech Manufacturing

Core technologies:

Odoo V16. / Odoo.sh

Country:

Germany

Client Overview

Our client, a growing German medical device manufacturer, relied on Odoo for their daily financial operations. While the system worked well for routine tasks, an internal audit uncovered inconsistencies in their historical records, particularly in opening balances and year-over-year reporting.

These challenges trace back to their initial Odoo implementation, where gaps in data migration and key accounting configurations setup created lingering discrepancies. Needing to resolve these issues without disrupting operations, they partnered with Glorium Technologies to realign their financial data, refine their system configuration, and strengthen reporting for future audits.

Challenge

During an internal audit, the client discovered inconsistencies in their historical financial data. While day-to-day operations in Odoo were running smoothly, older records from the initial migration and setup had gaps that made it difficult to trust older reports:

Chart of Accounts Setup: The Chart of Accounts wasn’t set up with a clear logic, making it hard to reconcile balances or generate accurate reports. Account types were not aligned with audit requirements and accounting best practices, leading to errors in financial statements
Imported Opening Balances: The initial import of balances lacked clarity and consistency. This made it nearly impossible to trace where discrepancies came from, especially in the Profit & Loss and Balance Sheet
Limited Audit Trail: Over time, manual fixes were made (particularly in Accounts Payable, Receivable, and Inventory) without proper documentation. This left gaps in the audit trail, making it tough to track past transactions
Missing Year-End Closing Procedures: There was no formal procedure for closing the books at year-end. As a result, retained earnings and other balances weren’t properly carried forward, creating confusion between fiscal years
Audit Delays: As a result of these legacy data challenges, external auditors required additional clarification, which delayed the fiscal year-end closing

Glorium Technologies’ role was to support the client by reviewing the full accounting history in Odoo and aligning it with best practices.

Why They Chose Glorium Technologies

The client partnered with Glorium Technologies for our:

Deep expertise in Odoo accounting module configurations and German localization
Hands-on experience in Odoo data migration and firm reliance on best practices for system setup and resolving legacy data issues
Collaborative approach, working alongside their team and auditors to rebuild trust in the system

Solution

Glorium Technologies approached the challenge with a structured audit, combining technical configuration analysis with accounting best practices to restore financial accuracy without disrupting operations:

Full System Review

We conducted a detailed analysis of the key settings, financial data, and reports within Odoo, focusing on critical pain points:

Misaligned Chart of Accounts (CoA) structure
Incomplete or unclear opening balance entries
Gaps in year-end closing procedures
Manual corrections lacking traceability

Root Cause Identification

Discrepancies were traced to early-stage setup decisions:

Opening balances imported with inconsistent logic or unclear journal entries
Account types and journal defaults are misaligned with Odoo best practices and German HGB requirements
Lack of structured workflows for year-end closing and retained earnings transitions

Strategic Cleanup and Optimization

We executed a targeted remediation plan:

Re-imported opening balances using structured templates (e.g., 31.12 cutoffs)
Reconfigured account types, journal settings, and CoA hierarchy for accurate reporting
Used clearing accounts for AP/AR/Stock imports and reconciled using Odoo’s built-in tools for accuracy and traceability.
Automated year-end workflows to ensure proper retained earnings transitions

Strategic Cleanup and Optimization 1

Strategic Cleanup and Optimization 2

Legal Compliance & Reporting

Aligned Odoo with HGB standards for audit readiness:

Configured legal financial reports with properly grouped accounts
Validated P&L and balance sheet accuracy for auditor approval
Improved documentation for transparent audit trails

Legal Compliance & Reporting1

Legal Compliance & Reporting2

Training, Handover, and Support

Throughout the project, we worked closely with the client’s finance team and external auditors:

Training on reconciliation and closing procedures
Documentation for future migrations and fiscal transitions
Handover support to maintain clean reporting in 2025 and beyond

Training, Handover, and Support

Results

100% Audit-Ready Financials

Resolved all discrepancies in the general ledger, enabling accurate 2023 and 2024 year-end closure and a clean start for 2025.

Compliance Achieved

German HGB-compliant reports are generated seamlessly, with full traceability for auditors.

Compliance Achieved

Sustainable Processes

Replaced manual workarounds with a robust CoA and journal configurations, ensuring long-term accuracy and reducing the risk of errors.

Sustainable Processes

Restored Confidence

The finance team regained trust in Odoo’s reporting capabilities, with clarity on historical data and future-proof workflows.

Restored Confidence

Implementation Approach

Our process prioritized minimal disruption while ensuring long-term stability:

Phase 1: Discovery (3 Days)

Reviewed audit findings, legacy data, and pain points with stakeholders
Mapped gaps between the existing setup and Odoo best practices

Phase 2: Remediation (2 Weeks)

Reconfigured journals, CoA, and legal reports
Cleaned and re-imported historical data with correct mappings

Phase 3: Validation & Training (2 Weeks)

Tested reports with auditors and adjusted templates
Trained teams on reconciliation and closing procedures

Phase 4: Go-Live & Support

Monitored first month-end close post-fixes
Provided ongoing tuning for analytical reporting needs

Business Value

Clear, Trustworthy Financial Reporting
We helped the client clean and organize their historical data. Their financial reports now reflect the real state of the business. No more unexplained balances – everything adds up, and the numbers make sense
One System, Full Control
With Odoo now correctly set up, the client manages all financial reporting in one place. No need to switch between tools. With this, we achieved faster data sharing with accountants and auditors, smoother tax prep, and fewer back-and-forth emails at closing time
Faster Month-End, Fewer Headaches
Thanks to corrected journal entries and a standardized year-end process, month-end closings are now quicker and more accurate, freeing up the finance team to focus on strategy, not fixing past mistakes
Ready for Audits, Ready for Growth
The system now follows Odoo best practices and meets German accounting standards (HGB), reducing audit risks and laying a solid foundation for confident scaling
Empowered Finance Team
Instead of troubleshooting inconsistencies, the team can now focus on using Odoo’s reports to make informed decisions