How to integrate Odoo with Airwallex: Setup steps, payment modules, and multi-currency reconciliation

Key takeaways

• Odoo Enterprise’s direct bank connection feature imports new bank transactions into Odoo every 12 hours by default.¹

• When setting up an integration between Odoo and Airwallex, a business should weigh several factors, including the Odoo edition, how the business hosts Odoo, how its customers pay, and the availability of in-house developers.

• Airwallex sends transactions in multiple currencies into Odoo Accounting and keeps customer payments in the same currency the customer paid in, with no forced conversion.

Businesses that integrate Odoo with Airwallex usually want to do two things: import Airwallex transactions into Odoo Accounting automatically and collect customer payments in several currencies. These features matter especially for companies that sell abroad or pay overseas suppliers. This guide explains the four integration methods, what each costs, how to set up the bank feed and a payment module, and how Odoo matches foreign currency payments to invoices.

What is an Odoo Airwallex integration?

An Odoo Airwallex integration is a connection between a company's Airwallex account and Odoo, the enterprise resource planning (ERP) software that many growing companies use for accounting, sales, and inventory. The integration performs two separate jobs. A bank feed brings Airwallex balances and transactions into Odoo Accounting, and a payment connection lets customers pay Odoo invoices and online orders through Airwallex.

The bank feed adds each transaction as a statement line in an Odoo bank journal, which is Odoo’s record of one bank balance. Each Airwallex currency balance has its own journal. Accountants then match those lines against open invoices and bills. The Airwallex payment module records each successful payment against the right sales order and invoice in Odoo.

Why businesses connect Airwallex to Odoo when Odoo has built-in payment providers

Businesses connect Airwallex to Odoo because Odoo's built-in payment providers, such as Stripe and PayPal, usually pay out in just one currency per account. When a Canadian company invoices a European client in euros, many processors, such as Stripe, convert the payment into Canadian dollars and charge a conversion fee. In contrast, Airwallex keeps the original currency, meaning a payment made in euros arrives as euros in the company’s Airwallex EUR balance, and the business can then pay European suppliers from that balance without a second conversion.

How does Airwallex integrate with Odoo?

Airwallex integrates with Odoo in four ways: a bank feed through Yodlee, a payment module from the Odoo Apps Store, a custom integration built on the Airwallex API, or a middleware platform. Many companies start with the bank feed and add a payment method once they need to collect payments in Odoo.

Bank feeds through Yodlee

A bank feed through Yodlee is the simplest method to integrate Airwallex with Odoo. Yodlee is a financial data provider that passes Airwallex transactions to Odoo. The Airwallex Help Centre lists Odoo as a supported Yodlee platform for businesses registered in the US, Canada, Australia, New Zealand, Hong Kong, and Singapore.² Once connected, Odoo creates a statement line with the date, amount, and counterparty (the other party in the payment) for each transaction, ensuring staff don't have to export and reformat CSV files.

Third-party payment modules from the Odoo Apps Store

Payment modules, or apps, from the Odoo Apps Store can add Airwallex as a payment option at checkout and on customer invoices. Independent developers such as BrowseInfo and Softhealer Technologies publish these modules, which use Odoo's standard payment setup. When a customer pays, the module creates the payment in Airwallex and updates the related sales order, invoice, and payment transaction in Odoo.

Custom integrations with the Airwallex API

A custom integration connects Odoo to the Airwallex API. For example, developers can write a custom Python module that creates an Airwallex Payment Link whenever an invoice is posted in Odoo, or that sends supplier payments from approved Odoo bills. Companies planning a wider systems project can read more about ERP integrations and how payment data reaches the books.

Integration platforms and middleware

Middleware is a cloud service, such as Alumio, that sits between Odoo and Airwallex and moves data from one platform to the other. It receives events from one system, converts the data into the format the other system expects, and saves the records in that system. If Odoo is down for maintenance, the middleware holds incoming events and delivers them later, which is ideal for online sellers with high order volumes.

How to integrate Odoo with Airwallex

Integrating Odoo with Airwallex takes just six steps: confirm eligibility, create bank journals, connect the feed, review the first sync, install a payment module, and test payments. Steps one to four set up the bank feed and work on their own for companies that don't need a payment module.

1. Confirm the Odoo edition and Airwallex account region

The first step in integrating Odoo with Airwallex is for the Odoo administrator to confirm the company runs a supported version of Odoo Enterprise with the full Accounting app, because bank synchronization requires an Enterprise subscription. 

The Airwallex account must be verified and registered in a Yodlee-supported country, such as Canada or the US. Self-hosted servers must also allow outbound connections to Odoo's bank synchronization service at production.odoofin.com.

2. Create a bank journal for each Airwallex currency

Each Airwallex currency balance needs its own bank journal in Odoo because Odoo tracks every bank balance in a separate journal. In Odoo’s Accounting app, the administrator opens Configuration, then Journals, creates a new journal of type Bank with a clear name such as Airwallex CAD, and sets the journal's currency to match the balance. The administrator repeats this for each currency the business holds, such as EUR and GBP.

3. Connect Airwallex through Yodlee in Odoo Accounting

To connect the feed, the administrator opens the Odoo Accounting app, clicks New on the main Accounting Dashboard, selects the Bank card, and searches for Airwallex in the Add a Bank Account window. An Airwallex account admin then signs in, completes two-factor authentication, and approves the connection. Finally, the administrator links each Airwallex currency balance to the matching bank journal from step two.

4. Review the first sync and fetch new transactions

After approving the connection, Odoo imports the first batch of transactions into each linked journal and then syncs on its own schedule. To import new transactions before the next automatic sync, the administrator can click Fetch Transactions on the Airwallex journal’s card on the Accounting Dashboard. Accountants should compare the first imported lines with the Airwallex account to check that the dates, descriptions, and amounts match.

5. Install an Airwallex payment module from the Odoo Apps Store

To install a payment module, the administrator downloads the payment module version built for the company's Odoo release and adds it to the server's custom add-ons folder or deploys it through Odoo.sh. 

With developer mode on, the administrator opens Apps, clicks Update Apps List, searches for Airwallex, and installs the module. In the Airwallex entry under Payment Providers, the administrator then enters the API keys and webhook details from the Airwallex account settings, which sends messages to Odoo when a payment status changes.

6. Test payments in test mode before going live

Testing starts when the administrator sets the Airwallex payment provider to Test Mode and enters Airwallex sandbox credentials. A team member then places a test order in the Odoo store, pays with a test card, and checks that Odoo records a paid sales order and a confirmed payment. Once the test payment also appears in the Airwallex sandbox, the administrator switches to live credentials and sets the provider to Enabled.

How much does it cost to integrate Odoo with Airwallex?

The cost to integrate Odoo with Airwallex depends on the Odoo edition, the integration method, and payment volume. Bank synchronization, Odoo’s feature that imports bank transactions automatically, is included in every Odoo Enterprise subscription. 

Odoo's Standard plan runs on Odoo Online, which doesn't allow custom modules. This means a third-party payment module generally needs the Custom plan hosted on Odoo.sh or on the company's own servers.³ Apps Store payment modules are one-time purchases, and the BrowseInfo module is listed at CA$78.26. A major Odoo upgrade may mean buying the module again for the new version.⁴

On the Airwallex side, the Explore plan has no monthly fee, and currency conversion costs just 0.5% above the interbank rate (the rate banks use to trade with each other) for major currencies and 1% for all others.⁵ Canadian card payments cost 2.5% plus CA$0.30 for domestic cards and 3.5% plus CA$0.30 for international cards. Middleware platforms and custom development may add their own subscription or developer costs.

4 factors to consider when choosing an Odoo Airwallex integration method

The four factors to consider when choosing an Odoo-Airwallex integration method are the Odoo edition and hosting type, where the business is registered, how customers pay, and how much developer time the company has.

Odoo edition and hosting type

The Odoo edition and hosting type the business uses decide which methods are available. Odoo Online on the Standard plan supports the bank feed but doesn’t allow custom payment modules. In contrast, Odoo.sh and self-hosted Odoo Enterprise support every method. Odoo Community has no built-in bank synchronization, meaning Community users need to import statements manually or build a custom API module.

Business location and Yodlee coverage

The business location affects whether the Yodlee bank feed is available. Businesses registered in the US, Canada, Australia, New Zealand, Hong Kong, and Singapore can use it, while businesses registered in the UK or the EU currently can't. Businesses in the UK and EU can still import statement files or build an API-based feed instead.

Payment acceptance needs

How a business accepts payments today decides whether it needs a payment module at all. A business-to-business (B2B) company that sends large invoices with later due dates can use Airwallex Payment Links instead of a module. In contrast, an online store built on the Odoo Website app, the app that builds a company’s online store, needs a payment module to keep checkout and order records inside Odoo.

In-house development resources

The availability of in-house development resources helps a business decide whether to buy a module or build one. Apps Store modules go live quickly, but the business depends on the module developer to release an update for each new Odoo version. A company with Python developers can build its own module on the Airwallex API and control updates, error handling, and the rules the module follows.

How does multi-currency reconciliation work between Odoo and Airwallex?

Multi-currency reconciliation between Odoo and Airwallex, which checks that payments match records, works by matching each Airwallex statement line to the open invoice or bill it pays. Odoo then records any difference between the payment amount and the invoice amount automatically. The two most common differences are exchange rate changes between the invoice date and the payment date, and processing fees taken out of a payment.

Exchange difference accounts for realized gains and losses

When a foreign currency payment is matched to its invoice, Odoo automatically records any exchange rate gain or loss in a separate journal, on accounts set up for exchange differences.⁶ 

For example, a business invoices EUR 1,000 when EUR/CAD is 1.50 and books a CA$1,500 receivable, which is money the customer owes. If the customer pays when the rate is 1.53, the payment is worth CA$1,530, and Odoo posts the CA$30 difference to the exchange gain account that finance chose in the accounting settings.

Reconciliation models for payment fees and recurring transactions

A reconciliation model is a saved rule that tells Odoo how to handle a payment that arrives for less than the invoice amount, such as when a processing fee is taken from the payment. For example, a CA$500 customer payment may arrive as CA$485 after a CA$15 fee. An automated model can match the payment to the invoice and post the CA$15 to a merchant fees expense account. In Odoo 19, finance teams can find these rules on the Accounting Dashboard by opening the bank journal’s menu and selecting Reconciliation, then Models, which includes a default Bank Fees model.⁷

Benefits of an Odoo Airwallex integration

The main benefit of an Odoo Airwallex integration is that Airwallex transactions reach Odoo automatically, saving the time finance teams spend downloading, reformatting, and uploading statement files. Fewer manual imports also mean fewer typing errors and fewer duplicate lines in the bank journals. With current statement lines in every currency, accountants can reconcile throughout the month instead of leaving this work for month-end.

Why Odoo businesses choose Airwallex

Odoo businesses choose Airwallex because Airwallex combines multi-currency accounts, online payments, and global transfers in one platform that feeds into Odoo Accounting. Companies that use Airwallex don't need a separate provider for each region or currency, and every balance reaches Odoo through the same bank feed.

Multi-currency accounts that feed Odoo bank journals

Airwallex Global Accounts let businesses hold 20+ currencies and receive funds from 70+ countries through local account details. International customers can pay by domestic bank transfer instead of an international wire, eliminating fees charged by intermediary banks. Each currency balance then flows into its matching Odoo bank journal.

Online payments that settle without forced currency conversion

Airwallex Payments lets businesses accept cards and 160+ local payment methods from customers in 180+ countries. Each payment settles into the Airwallex balance for the currency the customer paid in, with no forced conversion to Canadian dollars. For example, a company selling in the UK, the EU, and the US can hold GBP, EUR, and USD revenue and pay local suppliers from the same balances.

Frequently asked questions about integrating Odoo with Airwallex

Can I refund Airwallex payments from Odoo?

Yes, Airwallex payments can be refunded from Odoo when the installed payment module (an add-on that adds a feature to Odoo) supports Odoo's refund function. In that case, a credit note, which is a document that reduces what the customer owes, sends the money back to the customer's original payment method through Airwallex. For payments taken through standalone Payment Links, the finance team issues the refund through the Airwallex web app and records it in Odoo with a credit note.

Can I add Airwallex Payment Links to Odoo invoices?

Yes, Airwallex Payment Links can be added to Odoo invoices. A business can create each link in Airwallex, or a developer can set up the Airwallex API to generate a link when an invoice is confirmed. With some customization, the link can then be added in Odoo’s invoice email template and the customer portal, which lets customers easily pay by card or other supported local payment methods.

Can I pay Odoo vendor bills through Airwallex?

Yes, Odoo vendor bills can be paid through Airwallex with a batch transfer file or a custom API integration. Accounts payable teams export open bills from Odoo and upload the file to Airwallex, which pays suppliers over local payment networks. Companies with developers can also connect Odoo's bill payment workflow to the Airwallex API for even easier payment processing.

Why do duplicate Airwallex transactions appear in Odoo?

Duplicate Airwallex transactions can appear in Odoo when a manual statement upload includes the same dates as the bank feed. Both the upload and the bank feed create statement lines, resulting in the same transaction showing up twice in the journal. Accountants can simply delete the unreconciled duplicates and set an accounting lock date before the feed's start date to prevent repeats.

Which other accounting software integrates with Airwallex?

Airwallex integrates directly with Xero, QuickBooks Online, NetSuite, Microsoft Dynamics 365 Business Central, and Sage, according to the accounting software integrations page. The NetSuite integration with Airwallex adds hourly bank feeds, coded card expenses, and bill sync. Through Yodlee, Airwallex also sends transactions to Zoho Books, FreshBooks, and Fiskl.

Sources

1. https://www.odoo.com/documentation/19.0/applications/finance/accounting/bank/bank_synchronization.html

2. https://help.airwallex.com/hc/en-gb/articles/10945423898511-Yodlee-integration-for-Bank-Feed

3. https://www.odoo.com/pricing-plan

4. https://apps.odoo.com/apps/modules/16.0/bi_airwallex_payment_gateway

5. https://www.airwallex.com/en-ca/pricing

6. https://www.odoo.com/documentation/19.0/applications/finance/accounting/get_started/multi_currency.html

7. https://www.odoo.com/documentation/19.0/applications/finance/accounting/bank/reconciliation_models.html