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Odoo Accounting Reviews & Product Details - Page 2

Odoo Accounting Overview

What is Odoo Accounting?

Odoo Accounting helps companies manage their daily accounting with the utmost ease and simplicity. They even offer a global view of the state of their business at any time. All financial activities can be managed in one single app, thanks to Odoo Accounting. Automation for primary day-to-day tasks is more than possible - it’s easier than ever! This app is synchronized with 24,000 banks, making it easier to link a payment with a statement, based on the transaction on your bank account. The reconciliation can also be done by importing the statement files (OFX, QIF, CSV, or Coda). And, with the new List view, users have greater visibility on document statuses and next activities. Accounting Automation To facilitate accounting management, Odoo automates a series of tasks, such as the creation of draft invoices based on the sales orders. The manager can validate the invoice if the sales order is correct, instead of creating a brand new one. Payment Odoo supports all of the main payment gateways: Authorize.net, Ingenico, Paypal, Adyen, etc. Also, it is possible for the company to use an automatic email system to remind customers to pay their delayed invoices. You can also have a clear view of your overdue payments (and the future ones) at any time. Apply “Automatic Transfers” to specific partners; making intercompany transactions easier than ever before. Our latest version has improved batch payment error reporting, as well. Also, Batch Payments are now compatible with SEPA credit transfers. Multi-Adaptations This app supports multi-currencies, and the exchange rate is updated daily. This feature works with multiple users, based on access rights. If you want to use Odoo for multiple companies, it is also possible with different journals, based on the different companies, or by departments. Performance Reports It is possible to analyze your performance through the various reports generated by this powerful app. Odoo integrates all the best practices KPIs (by default) to improve performance. The new design for financial reports in Odoo 14 shows the meaning of each section. There’s also new “Unrealized Gains and Losses” reports that allow users to generate reevaluation journal entries. On top of all that, Accounting is fully integrated with the Sales, Inventory, eCommerce, and Purchase apps, and the customer portal! It is, by far, the most seamless, user-friendly Accounting around.

Odoo Accounting Details
Languages Supported
Arabic, Bulgarian, Catalan, Czech, Danish, German, Greek, English, Estonian, Basque, Persian, Finnish, French, Gujarati, Hebrew, Hindi, Croatian, Hungarian, Indonesian, Italian, Japanese, Georgian, Central Khmer, Korean, Latvian, Lithuanian, Macedonian, Mongolian, Dutch, Norwegian, Polish, Portuguese, Romanian, Russian, Slovak, Slovenian, Spanish, Albanian, Serbian, Swedish, Telugu, Thai, Turkish, Ukrainian, Vietnamese, Chinese (Simplified)
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Product Description

The accounting software for businesses of any size. Elegant, user friendly and full featured

How do you position yourself against your competitors?

Odoo Accounting helps you to manage your daily accounting easily and have a global view of the state of your business at any time. We offer a wide range of financial reports and tools like double-entry bookkeeping, accounts receivable & payable, multi-currency management, tax calculation, automatic bank feed import, accrual & cash basis methods and more.


Seller Details
Seller
Odoo
Year Founded
2005
HQ Location
Brussels, Belgium
Twitter
@Odoo
53,396 Twitter followers
LinkedIn® Page
www.linkedin.com
5,288 employees on LinkedIn®
Description

Odoo is an open-source enterprise resource planning (ERP) platform that offers a comprehensive suite of business applications designed to streamline operations across various functions. With modules for accounting, inventory management, sales, CRM, HR, project management, and more, Odoo enables businesses of all sizes to integrate their processes into a single system. Known for its flexibility, scalability, and user-friendly interface, Odoo can be customized to meet specific business needs, helping companies increase productivity and reduce operational costs.


Fabien P.
FP
Overview Provided by:
CEO & Founder at Odoo

Recent Odoo Accounting Reviews

SV
Sourabh V.Small-Business (50 or fewer emp.)
3.0 out of 5
"Great accounting software"
Additional ease of use and implementation is easy
Verified User
A
Verified UserMid-Market (51-1000 emp.)
5.0 out of 5
"Accounting Software for Non Accountants"
Dashboard for users which tell me all in one page which is unmatched productivity
Ahmed s.
AS
Ahmed s.Small-Business (50 or fewer emp.)
5.0 out of 5
"Odoo"
Accounting entries made easy. And it provides instant information It provides easy-to-understand financial reports for decision-making.
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Odoo Accounting Media

Odoo Accounting Demo - Odoo Accounting Dashboard
Odoo Accounting Dashboard
Odoo Accounting Demo - Odoo Accounting Invoices Analysis
Odoo Accounting Invoices Analysis
Odoo Accounting Demo - Odoo Accounting Profit and Loss
Odoo Accounting Profit and Loss
Odoo Accounting Demo - Odoo Accounting Overview
Odoo Accounting Overview
Odoo Accounting Demo - Odoo Accounting Payment Acquirers
Odoo Accounting Payment Acquirers
Odoo Accounting Demo - Odoo Accounting Invoice Overview
Odoo Accounting Invoice Overview
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62 Odoo Accounting Reviews

4.3 out of 5
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62 Odoo Accounting Reviews
4.3 out of 5
62 Odoo Accounting Reviews
4.3 out of 5

Odoo Accounting Pros and Cons

How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Cons

Overall Review Sentiment for Odoo AccountingQuestion

Time to Implement
<1 day
>12 months
Return on Investment
<6 months
48+ months
Ease of Setup
0 (Difficult)
10 (Easy)
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G2 reviews are authentic and verified.
Firas F.
FF
Senior Consultant
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Organic
Business partner of the seller or seller's competitor, not included in G2 scores.
What do you like best about Odoo Accounting?

Multiple everything ( currency, company, financial years, inventory, pricelist, chart of account, etc) makes it super software. The flat chart of accounts make it a uniquely flexible structure. The auto-generated journal entries, the ability to view results before posting. Intra-company transactions. Powerful VAT engine. Advanced Payment terms, Automated payment collection follow-ups. Review collected by and hosted on G2.com.

What do you dislike about Odoo Accounting?

An odoo functional consultant is a must for configuration. Data migration from excel to odoo could become complicated. Payroll needs more improvements to be able to localize per country. Review collected by and hosted on G2.com.

What problems is Odoo Accounting solving and how is that benefiting you?

Odoo Accounting can be implemented in a short period, and users can utilize it immediately. Odoo accounting provides the standard financial report with extra tools for grouping and filtering. It solves the problem of multi companies smoothly. it has ready integrations with banks and makes reconciliation an easy process. The Analytic accounting in odoo is used for project reporting. The main benefits are saving time, reaching more detailed information, generating advanced reports. Review collected by and hosted on G2.com.

Verified User in Retail
AR
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Review source: G2 invite
Incentivized Review
What do you like best about Odoo Accounting?

Easy to understand. easy to use . Easy to learn while using Review collected by and hosted on G2.com.

What do you dislike about Odoo Accounting?

A little bit expensive for very small companies Review collected by and hosted on G2.com.

Recommendations to others considering Odoo Accounting:

Way to go when you have to focus on your main job. Review collected by and hosted on G2.com.

What problems is Odoo Accounting solving and how is that benefiting you?

Retail shop. Help me keep records and payements Review collected by and hosted on G2.com.

Carlos D.
CD
Senior Netsuite Functional Consultant - Finance Ops
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Review source: Organic
What do you like best about Odoo Accounting?

Best bang for your buck. Hosting it yourself means that you just pay for the hosting. The software is completely free, and you can add as many additional modules as you need Review collected by and hosted on G2.com.

What do you dislike about Odoo Accounting?

Some modules are restricted to the enterprise version of Odoo, which is a bit pricey (Still cheaper than most other options though). Multi-currency support isn't as powerful as other ERPs. Review collected by and hosted on G2.com.

What problems is Odoo Accounting solving and how is that benefiting you?

Controlling my invocing, stock, human resources, and projects is a lot easier if they're automatically connected to the accounting system, and this is exactly what Odoo is Review collected by and hosted on G2.com.

VB
Senior Accountant
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Review source: G2 invite
Incentivized Review
What do you like best about Odoo Accounting?

When it comes to handling and managing business accounts, there is only one business solution you can trust - Odoo Accounting

I have used this software, and I can say it meets our needs really well, thanks to the multitude of features

The software is easy to use, and thus no training is needed

The software offers lots of accounting features and is, therefore, able to meet many accounting needs. Review collected by and hosted on G2.com.

What do you dislike about Odoo Accounting?

With Odoo Accounting, nothing has gone wrong when it comes to accounting. Review collected by and hosted on G2.com.

Recommendations to others considering Odoo Accounting:

Odoo Accounting is the best accounting solution for business, and I recommend it. Review collected by and hosted on G2.com.

What problems is Odoo Accounting solving and how is that benefiting you?

We deployed this software to handle our accounting needs, and it does this well. Everything from using the software to integrating it to understanding the many features is straightforward. Review collected by and hosted on G2.com.

Balaji K.
BK
Chief Technical Officer
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
Business partner of the seller or seller's competitor, not included in G2 scores.
What do you like best about Odoo Accounting?

A build-up of configurations and features needed to include advanced features progressively is a big plus. Often users are forced to have and prepare configurations and data that are not relevant when using an ERP system. A system that builds from fundamentals and progressively enhances features either by configuration or flexible to strengthen and extend easily is better suited. The opensource-ness of Odoo makes it a perfect system for small companies to larger ones. Review collected by and hosted on G2.com.

What do you dislike about Odoo Accounting?

Specific built-in integrations through Odoo under the Enterprise License (e.g., bank synchronization) exposes protected data and violate confidentiality needs. It would be better to have direct integration with the 3rd-parties concerned without an intermediary. The lack of solid access control at a transaction and separation of duties is lacking. Review collected by and hosted on G2.com.

Recommendations to others considering Odoo Accounting:

1. Start with a fresh implementation bringing over balances from the existing / legacy systems.

2. Work through all GAAP / SOX-2 compliance requirement controls

3. Use configurable features before indulging in extensions / customization. Review collected by and hosted on G2.com.

What problems is Odoo Accounting solving and how is that benefiting you?

GAAP compliant implementation of the Accounting system for clients and addressing SOX-2 requirements in the process. The flexibility seen with Odoo has helped me manage the gaps that come up. Review collected by and hosted on G2.com.

Marwan H.
MH
Senior Consultant
More Options
Validated Reviewer
Review source: Organic
What do you like best about Odoo Accounting?

This is one of the most desirable ERP software we are willing to dive in and be associated with for near future. There are almost no similar product out there that offers what we really need. We can start from a free accounting subscription for free, and then go from there once we feel comfortable scaling up. This can make us to not use use it internally but can also confidently offer our clients to use and experience it, starting from free subscription. there are so many software partner free with limited time, but Odoo is among a few that dare offering free subscription with no time limit. keep doing this model, it will attract more customer and feeling worth buying (rather than those who pay but regrets!) Review collected by and hosted on G2.com.

What do you dislike about Odoo Accounting?

Odoo would be even more awesome if it allows modules to be subscription-free. Review collected by and hosted on G2.com.

What problems is Odoo Accounting solving and how is that benefiting you?

OCR feature is awesome, so is the bank recons features. Review collected by and hosted on G2.com.

AMIR A.
AA
Finance Accountant
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Review source: G2 invite
Incentivized Review
What do you like best about Odoo Accounting?

It is not just an accounting program, it is an integrated system for business management in small and medium companies Review collected by and hosted on G2.com.

What do you dislike about Odoo Accounting?

It requires experience and knowledge of how to use it correctly, but it is worth the time to learn Review collected by and hosted on G2.com.

Recommendations to others considering Odoo Accounting:

Odoo Accounting It's a new era of business management Review collected by and hosted on G2.com.

What problems is Odoo Accounting solving and how is that benefiting you?

I can connect all departments of the company in one program Review collected by and hosted on G2.com.

Gregory P.
GP
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about Odoo Accounting?

What I like best is that in Odoo, everything is easy and smooth. Any task that I have to do, Odoo have a simple and easy way for me to do it. Review collected by and hosted on G2.com.

What do you dislike about Odoo Accounting?

There's not much that I dislike...

One point that I found frustrating is that since every year Odoo releases a new version with new awesome features and that it always take 6 to 12 months to upgrade our DB to this new version, then I always feel like I'm missing on these new features and that my work would be so much easier with them...

Not a "real" bad point actually, just a bit of frustration. Review collected by and hosted on G2.com.

Recommendations to others considering Odoo Accounting:

Don't hesitate, go for it! Review collected by and hosted on G2.com.

What problems is Odoo Accounting solving and how is that benefiting you?

Since it is so easy for me to handle all the accounting in Odoo, now the work of accoutant is limited to the bare minimum which saves me some money. In addition, in the past, all my documents and accounts would end up at my accountant place and I would have a very limited view on my accounting. Now I have everything with, on my computer, on my phone, anywhere, anytime. Review collected by and hosted on G2.com.

David S.
DS
President
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about Odoo Accounting?

I am not an accountant and find the the Accounting app easy to use. The landing page provides a quick snapshot of any accounting activities that need to be completed. This includes both invoices awaiting payments and bills to vendors that need to be paid. It connects to my bank accounts which makes it easy to reconcile all of my accounts. All of the standard reports and audit capabilities are built in. Review collected by and hosted on G2.com.

What do you dislike about Odoo Accounting?

Because I am not an accountant, it would have been helpful to have support for setting up Chart of Accounts and other accounting settings. To be sure this is not really an issue with the Accounting app. Review collected by and hosted on G2.com.

What problems is Odoo Accounting solving and how is that benefiting you?

The reason I started with the Odoo platform was because I wanted a single application that supported my business need. I create quotes for customers that turn into orders. I order inventory from vendors that drop ship to customers. I send invoices to customers to pay for the products and services. The Odoo platform does this for me with a consistent user experience. The Accounting app matches all of the events to ensure every penny is accounted for. And it does it for far less than many comparable platforms. Review collected by and hosted on G2.com.

Chirag J.
CJ
Practice Head
Enterprise(> 1000 emp.)
More Options
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
Business partner of the seller or seller's competitor, not included in G2 scores.
What do you like best about Odoo Accounting?

Real-time bank synchronization

All Reports Review collected by and hosted on G2.com.

What do you dislike about Odoo Accounting?

Invoice template

Dashboard can be more graphical Review collected by and hosted on G2.com.

What problems is Odoo Accounting solving and how is that benefiting you?

Auto reconciliation

Trail balance

P&L report Review collected by and hosted on G2.com.