Odoo Accounting Features
What are the features of Odoo Accounting?
General Ledger
- Journal Entries
- Tags / Dimensions
- Audit Trail
Accounts Receivable
- Invoice Customization
Accounts Payable
- Payment Processing
- Purchase Orders
Other Functionality
- Reconciliations
Reporting & Analytics
- Financial Statements
- Custom Reporting
- Dashboards
Platform
- Customization
- User, Role, and Access Management
- Performance and Reliability
- Output Document Generation
Integration
- Data Import and Export Tools
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Odoo Accounting Categories on G2
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General Ledger
Journal Entries | Based on 28 Odoo Accounting reviews and verified by the G2 Product R&D team. Increases user efficiency by auto-populating based on previously entered information. Schedules future entries. Allows Journal Entries to be uploaded from an external source. | 81% (Based on 28 reviews) | |
Tags / Dimensions | Based on 25 Odoo Accounting reviews and verified by the G2 Product R&D team. Ability to tag all transaction in the general ledger with customizable dimensions, classes, categories, etc. These dimensions should be available on any transaction in any module in the system and available to be reported upon. | 80% (Based on 25 reviews) | |
Audit Trail | Based on 25 Odoo Accounting reviews and verified by the G2 Product R&D team. Automates chronological tracking of transactions that have affected a specific operation, procedure, event or record | 77% (Based on 25 reviews) |
Accounts Receivable
Invoice Customization | Based on 28 Odoo Accounting reviews and verified by the G2 Product R&D team. The layout of the invoice template is fully customizable and you can add or remove fields. | 73% (Based on 28 reviews) | |
AR Automation | Based on 23 Odoo Accounting reviews and verified by the G2 Product R&D team. Automation helps the user be more efficient by populating default customer data, setting up systematic payments from clients and automatically matching customer receipts to outstanding transactions. | 73% (Based on 23 reviews) | |
Collections Automation | Based on 19 Odoo Accounting reviews and verified by the G2 Product R&D team. The system automates the dunning process to help drive collections | 79% (Based on 19 reviews) |
Accounts Payable
AP Automation | Based on 23 Odoo Accounting reviews and verified by the G2 Product R&D team. Steamlines data entry by auto populating recurring or predefined vendor values | 78% (Based on 23 reviews) | |
Payment Processing | Based on 25 Odoo Accounting reviews and verified by the G2 Product R&D team. Ability to manage, track and report on numerous payment types. Customize and automate complex purchase to pay work flow. | 79% (Based on 25 reviews) | |
Purchase Orders | Based on 25 Odoo Accounting reviews and verified by the G2 Product R&D team. Software supports purchase orders and provides purchasing personnel, management and accounts payable with visibility needed to streamline the procure to pay process | 90% (Based on 25 reviews) |
Other Functionality
Inventory Tracking / Ordering | Real time inventory tracking. Maintains accurate "On Hand" infomation by matching reserved inventory requested on purchase and sales orders. 20 reviewers of Odoo Accounting have provided feedback on this feature. | 83% (Based on 20 reviews) | |
Inventory Pricing and Costing | Ability to establish multiple price levels. Update pricing on a per item or global inventory basis. Choice between multiple costing methods such as Average, LIFO, FIFO and Specific Unit. This feature was mentioned in 22 Odoo Accounting reviews. | 80% (Based on 22 reviews) | |
Inventory Reporting | See feature definition | Based on 21 Odoo Accounting reviews and verified by the G2 Product R&D team. Customizable reporting allows insight into usage of inventory and services. | 73% (Based on 21 reviews) |
Multi-Entity / Consolidation | Based on 18 Odoo Accounting reviews and verified by the G2 Product R&D team. Multi-ledger and multi-tenant architecture. Automated consolidations, inter-entity transactions and eliminations | 78% (Based on 18 reviews) | |
Recognition Rules | Based on 20 Odoo Accounting reviews and verified by the G2 Product R&D team. Automates recognition of revenue and expenses by defining recognition rules. | 83% (Based on 20 reviews) | |
Reconciliations | Based on 25 Odoo Accounting reviews and verified by the G2 Product R&D team. Transactions are imported from source systems and automated matching reconciles majority of transactions. Includes user flexible, user defined matching and grouping rules to help reduce the time needed to produce accurate reconciliations. | 77% (Based on 25 reviews) | |
Payroll | Based on 15 Odoo Accounting reviews and verified by the G2 Product R&D team. Payroll module or integration to an external payroll provider which automates the recording of payroll | 87% (Based on 15 reviews) | |
Time and Expense | As reported in 15 Odoo Accounting reviews. Automated time and expense capture, tracking, approval, reimbursement and reporting | 84% (Based on 15 reviews) |
Reporting & Analytics
Financial Statements | Based on 28 Odoo Accounting reviews and verified by the G2 Product R&D team. General reporting offered covers all of the standard financial statements and meets the basic needs of the business | 80% (Based on 28 reviews) | |
Custom Reporting | Based on 25 Odoo Accounting reviews and verified by the G2 Product R&D team. Reports created by the user to cater to specific requirements. If you can build it in Excel, you can build it in the custom report writer | 81% (Based on 25 reviews) | |
Budgeting / Forecasting | Based on 17 Odoo Accounting reviews and verified by the G2 Product R&D team. Create and revise an unlimited number of budget, plan and forecast scenarios. | 82% (Based on 17 reviews) | |
Dashboards | Based on 25 Odoo Accounting reviews and verified by the G2 Product R&D team. An easy to read, often single page, real-time user interface, showing a graphical presentation of the current status and historical trends of an organization's Key Performance Indicators (KPIs) to enable instantaneous and informed decisions to be made at a glance | 79% (Based on 25 reviews) |
Platform
Customization | Based on 26 Odoo Accounting reviews and verified by the G2 Product R&D team. Allows administrators to customize to accommodate their unique process. Includes ability to create custom objects, fields, rules, calculations, and views. | 79% (Based on 26 reviews) | |
Workflow Capability | Automates a process that requires a series of steps that typically require intervention by several different users. Administrators can write rules to determine who and when a user needs to complete a step. Also includes notification of users when they need to take action. 18 reviewers of Odoo Accounting have provided feedback on this feature. | 86% (Based on 18 reviews) | |
User, Role, and Access Management | Based on 27 Odoo Accounting reviews and verified by the G2 Product R&D team. Grants access to select data, features, objects, etc. based on the users, user role, groups, etc. | 81% (Based on 27 reviews) | |
Internationalization | As reported in 19 Odoo Accounting reviews. Enables users to view and transact business with the same content in multiple languages and currencies. | 84% (Based on 19 reviews) | |
Performance and Reliability | Based on 27 Odoo Accounting reviews and verified by the G2 Product R&D team. Software is consistently available (uptime) and allows users to complete tasks quickly because they are not waiting for the software to respond to an action they took. | 86% (Based on 27 reviews) | |
Output Document Generation | Based on 24 Odoo Accounting reviews and verified by the G2 Product R&D team. Allows administrators to create templates that enable users to quickly generate dynamic documents in various formats based on the data stored in the application.
| 80% (Based on 24 reviews) |
Integration
Data Import and Export Tools | Based on 26 Odoo Accounting reviews and verified by the G2 Product R&D team. Ability to input, modify and extract data from the application in bulk through a structured file. | 83% (Based on 26 reviews) | |
Integration APIs | Based on 16 Odoo Accounting reviews and verified by the G2 Product R&D team. Application Programming Interface - Specification for how the application communicates with other software. API's typically enable integration of data, logic, objects, etc with other software applications. | 86% (Based on 16 reviews) | |
Breadth of Partner Applications | As reported in 20 Odoo Accounting reviews. To what extent are there partner applications readily available for integrating into this product? Partner applications typically provide complementary, best of breed functionality not offered natively in this product. | 81% (Based on 20 reviews) |
Cash Flow
Track Cash Flow | Based on 17 Odoo Accounting reviews and verified by the G2 Product R&D team. Check cash on hand at the beginning of each month and view each day’s incoming and outgoing funds. | 86% (Based on 17 reviews) | |
Income and Expenses | Based on 20 Odoo Accounting reviews and verified by the G2 Product R&D team. Add one-time or recurring cash flow items and add line items for each payment or deposit. | 82% (Based on 20 reviews) | |
File Exports | Based on 24 Odoo Accounting reviews and verified by the G2 Product R&D team. Timesheets, projects, tasks, income or expenses can all easily be exported to pdf, xls or csv for simpel cash clow analysis. | 84% (Based on 24 reviews) |
Budgeting & Forecasting
Budgeting / Forecasting | Based on 17 Odoo Accounting reviews and verified by the G2 Product R&D team. Create and revise an unlimited number of budget, plan and forecast scenarios. | 82% (Based on 17 reviews) | |
Data Import | Based on 17 Odoo Accounting reviews and verified by the G2 Product R&D team. Import trial balance, monthly P&L, balance sheets, and other types of financial data | 84% (Based on 17 reviews) | |
Versioning | Based on 15 Odoo Accounting reviews and verified by the G2 Product R&D team. Keeps track of all versions of a budget and allows users to compare versions | 80% (Based on 15 reviews) | |
Historical Data | Based on 17 Odoo Accounting reviews and verified by the G2 Product R&D team. Forecasting is based on past transactions and historical financial or operational data | 87% (Based on 17 reviews) |
Revenue
Revenue Types | Based on 21 Odoo Accounting reviews and verified by the G2 Product R&D team. Supports multiple types of revenues, such as recurring and transaction based | 85% (Based on 21 reviews) | |
Revenue Allocation | Based on 19 Odoo Accounting reviews and verified by the G2 Product R&D team. Allows users to allocate revenues to various business entities or departments | 87% (Based on 19 reviews) | |
Scheduling | Based on 15 Odoo Accounting reviews and verified by the G2 Product R&D team. Automatic scheduling to ensure that revenue is recognized at the proper time | 80% (Based on 15 reviews) |
Payroll
Direct Deposit | Automatically deposits paychecks into employees' bank accounts. This feature was mentioned in 12 Odoo Accounting reviews. | 86% (Based on 12 reviews) | |
Check/W-2 Printing | Allows administrators to print valid paychecks and W-2 forms. | Not enough data | |
Tax Calculation | As reported in 14 Odoo Accounting reviews. Calculates taxes due and may include resources or tools for federal and state tax compliance. | 83% (Based on 14 reviews) | |
Reporting and Dashboards | Based on 18 Odoo Accounting reviews and verified by the G2 Product R&D team. Access pre-built and custom reports and dashboards to track payroll costs and for compliance purposes. | 87% (Based on 18 reviews) |
AI
Data Extraction | Uses AI to automatically input data from receipts, invoices, and other documents | Not enough data | |
Invoice Processing | Uses AI to generates, send, and track invoices | Not enough data | |
Expense Management | Uses AI to categorize expenses, detect anomalies, and provide insights on spending patterns | Not enough data | |
Fraud Detection | Uses AI to detect unusual patterns and flag potential fraudulent activities in real-time | Not enough data | |
Tax Compliance | Uses AI to assist in calculating taxes, ensuring compliance with changing tax regulations, and automate the preparation of tax returns | Not enough data | |
Support Chatbots | Uses AI and NLP-powered chatbots to provide customer support and assist with queries regarding financial data and reports | Not enough data | |
Bank Reconciliations | Uses AI to match transactions recorded in the accounting system with those in bank statements | Not enough data | |
Report Generation | Uses AI to generate detailed financial reports, dashboards, and visualizations to provide insights into the financial health of the business | Not enough data | |
Customizable Alerts | Uses AI to set up alerts for various financial activities, such as payment due dates or low cash balances | Not enough data | |
Predictive Analytics | Uses AI to analyze data to identify trends and make predictions | Not enough data |
Mobile Applications - Accounting
Cloud Integration | Enables synchronization of accounting data across devices in real-time | Not enough data | |
Notifications | Send push notifications for important updates, such as due dates, invoice statuses, or tax deadlines | Not enough data | |
UI | Simplifies interfaces to be user-friendly and tailored for smaller screens, such as mobile phones and tables | Not enough data | |
Offline | Allows users to view and update certain data without an internet connection | Not enough data | |
Expense Tracking | Allows users to capture and upload expense receipts directly from mobile devices | Not enough data | |
Invoice Management | Enables creation, editing, and sending of invoices | Not enough data |
