Finance and accounting are the backbone of every successful organisation. They ensure that decisions are based on facts, not assumptions, and that growth happens with control. Yet, many companies in Latvia still rely on fragmented systems and manual reporting, making compliance time-consuming and prone to error.

With the release of Odoo 19, finance teams can finally bridge the gap between automation, compliance, and strategic insight. The new version brings intelligent tools powered by AI, stronger localisation features, and an intuitive user experience — transforming accounting from a back-office function into a strategic partner for decision-making.

Odoo 19 introduces an era of intelligent accounting. The system now learns from user behaviour to automate repetitive tasks and suggest the next logical actions.

• Smart bank reconciliation: Odoo’s new reconciliation engine analyses transaction history, learns from past matches, and automatically proposes links between bank lines and accounting entries.

• Automated data capture: Bills, receipts, and vendor documents can be processed using the improved OCR engine, converting scanned data directly into accounting entries with minimal validation.

• AI-assisted insights: With the new Odoo AI Agent, accountants can ask natural-language questions like “Show me unpaid supplier invoices this month” or “What’s our cash flow trend for Q3?” and receive instant, data-driven responses.
• Enhanced dashboards: Customisable KPI widgets and analytical views turn the finance app into a real-time performance centre.

The result is a shift from manual data entry to strategic financial management, empowering teams to focus on what matters — forecasting, profitability, and compliance.

Finance leaders face increasing regulatory complexity — from local tax obligations to international standards. Odoo 19 helps companies stay compliant without extra spreadsheets or manual exports.

• Automated tax returns: The accounting app now supports integrated tax declaration flows, helping users file reports on time and verify them with built-in validation rules.

• Localisation packs: Odoo continues to expand its list of certified country localisations, including predefined charts of accounts, tax codes, and fiscal positions for each jurisdiction.
• Audit trail & traceability: Every transaction now includes improved tracking metadata, ensuring transparency for auditors and regulators.
• Multi-company & multi-currency management: Cross-border operations are easier than ever, with consolidated reporting, currency revaluation tools, and intercompany transaction automation.

For Latvian companies, compliance is further strengthened by local accounting modules developed by Midis, ensuring alignment with national VAT rules, banking formats, and electronic invoicing standards.

Beyond compliance, Odoo 19 enhances day-to-day finance operations with speed and clarity.

• Faster period closing: Automated reconciliation and validation reduce the month-end closing process from days to hours.
• Smart expense management: Mobile expense capture, employee cards, and automated accounting entries simplify reimbursements and internal controls.
• Real-time reporting: Dashboards and drill-down analytics allow management to monitor profitability, liquidity, and outstanding receivables in seconds.
• Scalable collaboration: With role-based permissions and integrated communication tools, CFOs, accountants, and department heads can collaborate directly inside Odoo.

Finance teams become proactive rather than reactive, with data-driven insights at their fingertips.

Implementing a financial system is not just a technical project — it’s an organisational transformation. Midis follows a structured, seven-phase approach to ensure success:

1. Initiation & analysis: Assess current workflows, reporting needs, and compliance gaps.
2. Planning: Define project scope, chart of accounts structure, and localisation configuration.
3. Execution: Implement Odoo 19 modules, set up bank integrations, and automate key processes.
4. Testing & data migration: Validate reports, ensure reconciliation accuracy, and migrate historical data.
5. Training & go-live: Empower users with hands-on training tailored to finance roles.
6. Support & optimisation: Continuous improvement through monitoring, feedback, and updates.
7. Maintenance: Regular updates, localisation improvements, and version upgrades.

By following this lifecycle, companies not only deploy software but also achieve measurable results — shorter closing cycles, fewer errors, and full audit readiness.

Midis is the first official Odoo partner in Latvia and an Odoo Silver Partner with over eight years of implementation experience. Our team includes certified Odoo experts who specialise in finance and localisation for Baltic businesses.

We’ve developed solutions such as the Latvian accounting localisation, integrations with DPD, Omniva, and Paysera, and custom modules like POS for Tiki Taka Pay and VOIP integration — making Odoo not only compliant but also fully adapted to local needs.

With Midis, clients receive end-to-end implementation: from requirement analysis to deployment, training, and maintenance. Our goal is not just to deliver a system, but to ensure that Odoo 19 truly becomes the backbone of your financial management and decision-making.

Odoo 19 represents a new chapter for finance and accounting: automation powered by intelligence, compliance guaranteed by localisation, and efficiency supported by an integrated ecosystem.

For Latvian businesses, this means faster decisions, simplified reporting, and peace of mind during every audit season.

With the right implementation partner, such as Midis, Odoo 19 becomes more than an ERP — it becomes a strategic advantage.