- Highly customizable
- Shipping integrations available
- Limited features
- Over-complicated pricing plans
- Limited invoicing features
Table of Contents
- What Is Odoo Accounting?
- Odoo Accounting Pricing
- Odoo Online Free
- Odoo Online Paid
- Odoo Community
- Odoo Enterprise
- Is Odoo Accounting Easy To Use?
- Odoo Accounting Features
- Contact Management
- Time Tracking
- Project Management
- Tax Support
- Odoo Accounting Customer Service
- Odoo Accounting Integrations
- Odoo Accounting Reviews
- Positive Odoo Accounting Reviews
- Is Odoo Accounting Secure?
- The Final Verdict: Is Odoo Accounting Worth It?
- Odoo Accounting FAQs
- What is Odoo Accounting?
- Is Odoo free?
- Is QuickBooks VS Odoo better?
- What is the best free accounting software?
What Is Odoo Accounting?
Odoo isn’t a simple bookkeeping tool; it is enterprise resource planning (ERP) software. Odoo is open-source software — meaning it can be customized and modified to fit your specific business needs. Itoffers over 40 different small business applications, and the software can be hosted online or on-premise. These applications, as well as the user-designed add-ons, allow the software to grow alongside your business. This review, however, will be focusing specifically on Odoo Accounting.
Odoo Accounting offers strong accounting with a full chart of accounts, fixed asset management and depreciation, accounts payable, basic reports, and more. For key features, such as project management, time tracking, and estimates, you’ll have to buy Odoo’s other applications. While this modular pricing model can seem expensive, Odoo is far cheaper than most of its ERP competitors.
For users looking only for a small business accounting solution, you can get more features for less money with other accounting programs. But if you are interested in a full ERP solution or are a developer drawn to the idea of completely customizing your software, Odoo could be a good option for your business.
Odoo Accounting Pricing
|Odoo Accounting Plans||Price||When To Use|
|Odoo Online Free||$0/month||If you need one Odoo cloud-based application|
|Odoo Online Paid||$35/month + app costs||If you need more than one Odoo cloud-based application|
|Odoo Community||$0/month||If you need a locally-installed, open-source accounting solution|
|Odoo Enterprise||$28/month (billed annually) + app costs||If you need a locally-installed solution with hosting & customer support|
Odoo offers 35 different open-source software applications ranging from accounting to CRM to POS and more (plus thousands of user-designed add-ons). A 15-day free trial is available for you to test out the software.
Odoo’s pricing scheme is a bit difficult to break down, as there are online and on-premise versions, and you can increase your plan pricing by signing up for additional applications and adding users. Discounts vary depending on the number of users you select. Discounts are also available if you opt for annual billing.
Odoo Online Free
Odoo Online Free is a cloud-based plan that costs $0/month. It includes:
- One Odoo application of your choice
- No customer support
Odoo Online Paid
The Odoo Online Paid plan costs $35/month for one user plus the cost of applications. Applications range from $15-$72/month, with Odoo Accounting priced at $30/month. In addition to Odoo Accounting, you can choose from applications like:
- Odoo CRM
- Odoo eCommerce
- Odoo Point of Sale
- Odoo Project
- Odoo Timesheets
- Odoo Inventory
- Odoo Events
- Odoo Email Marketing
- Odoo Helpdesk
- Odoo Appointments
- Odoo Subscriptions
- Odoo PLM Manufacturing
Visit Odoo’s website for a full list of applications and pricing.
Odoo recommends its on-premise solutions for businesses with more than 50 users. Odoo Community is an on-premise solution that costs $0/month.
Odoo Enterprise is a locally-installed plan that is billed annually at$28/month for one user plus the cost of applications. Odoo Accounting specifically costs $24/month for a single user. Visit Odoo’s pricing page to calculate your exact annual payment. Discounts vary depending on the number of users you select. It includes everything from Community plus:
- Customer support
Extra Odoo Accounting Costs & Fees
|Odoo Accounting Extra Costs||Price|
|Enterprise Implementation||Pricing varies|
|Integrations||Starts at $45/month|
|Odoo.sh Cloud Platform||Pricing varies|
|Success Packs||Starts at $3,600|
There are a few additional add-ons you might want to consider when signing up for Odoo. This includes implementation for Enterprise subscribers, integrations, and the Odoo.sh Cloud Platform for hosting.
Odoo also offers Success Packs, which connect you with a personal Odoo developer to address your business needs. New users are eligible to receive 15% off their chosen Success Pack.
Is Odoo Accounting Easy To Use?
Odoo Accounting is generally intuitive, and a recent redesign makes the software easier to navigate and more organized. Another nice touch is that the software walks you through how to use the features, making it easier to get started. Odoo offers a SaaS, web-hosted accounting program (Odoo Online) as well as on-premise options you can install on your computer (Odoo Community and Odoo Enterprise).
Odoo Accounting Features
|Odoo Accounting Features||Availability|
|Chart Of Accounts|
|Number Of Reports||16+|
Odoo Accounting offers most basic accounting features. However, for specialized features, such as project management, inventory management, time tracking, etc., you’ll have to purchase additional Odoo applications to receive the feature depth we’re used to in our reviews. You can go on a feature tour or schedule a demo of the software to see these features in action. For now, here’s what you’ll receive with Odoo Accounting.
Invoices & Estimates
In terms of invoicing, Odoo falls a little short when compared to other accounting software. There are limited invoice templates and customizations. Additionally, Odoo does not support recurring invoices.
However, the invoicing dashboard is easy to use and works well if you only need basic invoicing. Features worth noting include:
- 4 invoice templates
- Some customization options, including logos & headers
- Invoice reminders
- Set internal warnings for late customers
- Client portal
- Create payment links
- Supports 80+ currencies
While it may lack some of the more advanced features you’d find in other accounting software, Odoo Accounting has a number of features available to easily balance your books. Notable features include:
- Bank reconciliation for bank accounts & group payments
- Customizable chart of accounts
- Journal entries
- Live bank feeds
- Manually import bank statements via .csv, .ofx, .qif, or .camt
- Fixed asset management & depreciation
- Automated amortization entries
- Accounts payable
- Credit memos
- Internal chat
- Import contacts, items, & bills .csv or .xls
- Export financial information
- Mobile apps for iOS & Android
Odoo Accounting’s Contact Management feature isn’t as advanced as you’d find with some programs. However, it is easy to add contacts and vendors, and there are a number of fields that you can use to record information. Here’s what to expect with this feature:
- Add customers and vendors
- Add contact information
- Upload images
- Add internal notes
- Set default sales/purchasing settings
Odoo Accounting has a very basic inventory feature. For a full-fledged inventory feature (with low stock reminders, COGs calculations, etc.), you’ll need to purchase the Odoo Inventory application. Odoo Accounting includes:
- Mark sold/purchased items
- Record basic information about items
- Add sales/purchase information to items
- Set tracking categories
- Add images of your items
Time tracking is not included with Odoo Accounting. If you wish to use this feature, you will also need to sign up for the Odoo Timesheets app for an additional cost.
Project management is not a feature you’ll find with Odoo Accounting. However, you can sign up for the Odoo Project app for an additional cost.
Reporting & Budgeting
Odoo has the basic accounting reports and analytics you would expect from accounting software. A budgeting feature is also available. However, this feature can be confusing and could be reworked to be more intuitive. Here’s a breakdown of all reporting and budgeting features:
- 16+ reports including balance sheets, profit and loss statements, ledgers, & cash flow statements
- Analytic reports
- Budget analysis report
Odoo Accounting doesn’t have much going for it in terms of tax support. The sales tax feature, while workable, is a bit underdeveloped. You can only set one default sales tax rate, which you cannot adjust on invoices unless you add an item line and manually calculate the sales tax total. One way to work around this is by adding default tax rates to each client to override the set tax rate.
Odoo Accounting Customer Service
|Odoo Accounting Support||Availability|
|Dedicated Support Representative|
|Knowledge Base or Help Center|
|Videos & Tutorials|
With Odoo’s customer service, answers are hard to come by. Email support is reserved for general information. As far as phone support, this is used for “emergencies and functional questions.” There’s also no support for the free version of the software, and IT support and training cost extra. Odoo’s one saving grace is its comprehensive and thorough help center.
Odoo Accounting Integrations
Odoo offers 40 software applications altogether, covering a wide range of small business industries. Odoo has an API for developers and an Odoo Studio application for users who want to build custom apps but have no coding experience.
In addition to these applications, Odoo offers a few third-party integrations and an incredibly large app marketplace. Odoo and its users have collectively created 37,000+ applications through the Odoo API. These developers have created apps and modified the Odoo software to fit the needs of hundreds of small businesses. You’ll find capabilities, such as dental clinic management, a website booking calendar, a Magento connector, and even Sudoku. You’ll also find more traditional third-party integrations, such as USPS, UPS, FedEx, and eBay integrations. Explore Odoo’s marketplace yourself to learn more.
Odoo Accounting Reviews
Reviews for Odoo as a company are overall positive. The software receives 4.1/5 stars on Capterra (based on 476 reviews). It’s a bit harder to find reviews specific to Odoo Accounting, but there are a few out there. On G2, Odoo Accounting only has 52 reviews, but the application receives 4.3/5 stars for those reviews. While most reviews are positive, there are also several complaints worth noting.
Negative Odoo Accounting Reviews & Complaints
- Customer support is hard to reach
- Customer support options are limited
- Expensive monthly cost
- Weak mobile apps
Positive Odoo Accounting Reviews
- Integrated system with apps in one place
- Modular pricing structure
- Easy to use
- Good for developers
Is Odoo Accounting Secure?
If you use Odoo Enterprise, you are responsible for your network and your computer’s security. For its web-hosted solutions, Odoo keeps your data secure with:
- 256-bit SSL encryption
- Regular security audits
- Servers in multiple undisclosed locations
- Server facilities with controlled access
- Data backups of records are kept for three months
The Final Verdict: Is Odoo Accounting Worth It?
|Odoo Accounting Review Summary|
|Accounting Method||Accrual & Cash Basis|
|Pricing||$0-$35/month + cost of apps|
|Pricing||$0-$35/month + cost of apps|
|Choose If You Need|| |
Odoo is a great, easy-to-use, and affordable option if you are looking for open-source ERP software. The software is ideal for developers who want the freedom to custom-design their software. It is also a good alternative to more expensive ERP solutions, such as NetSuite, since Odoo is both cheaper and easier to use. However, if you’re just looking for accounting software, a program such as QuickBooks or Xero is likely a better fit unless you are anticipating a lot of growth and will require Odoo’s application collection in the future.
In terms of actual accounting features, Odoo Accounting does well with features, such as a chart of accounts, bank reconciliation, fixed asset management and depreciation, and more. But Odoo Accounting’s reports and additional features that you would usually see in accounting software (project management, time tracking, etc.) are lacking. Considering Odoo’s pricing structure, it makes sense — the company wants you to buy multiple applications. Another drawback is Odoo’s limited customer support. There are all things to keep in mind before committing to Odoo. If you are interested in the software,be sure to use the free 15-day trial to see if it’s a good fit for your business.
Odoo Accounting FAQs
What is Odoo Accounting?
Odoo Accounting is an open-source business app designed to help business owners keep up with their finances. Additional apps and integrations can be added as needed to provide businesses with a complete enterprise resource planning (ERP) solution.
Is Odoo free?
Odoo accounting is free for some users. If you use Odoo’s online plan, you may select one app for free. Odoo Community is also a free option if you prefer locally-installed software.
Is QuickBooks VS Odoo better?
For businesses that need more than just accounting software, Odoo may be the better choice, as it’s a customizable ERP solution. On the other hand, the various apps and integrations offered by Odoo may be overkill for smaller businesses, so accounting software like QuickBooks may be the better, more cost-efficient option.
What is the best free accounting software?
For businesses that anticipate growth in the future, Odoo’s free plans may be a good accounting software option now, although some businesses will need to purchase additional apps and integrations to get access to all the features they need. Businesses that want a simple accounting solution and don’t anticipate needing an ERP in the near future may find software like Wave to be a more suitable choice.
Is Odoo accounting really free? ›
Applications range from $15-$72/month, with Odoo Accounting priced at $30/month. In addition to Odoo Accounting, you can choose from applications like: Odoo CRM. Odoo eCommerce.What are the disadvantages of using Odoo? ›
- Complex set-up structure. Odoo ERP is intricate in structure and may be challenging to build or implement according to your business necessities. ...
- Critical Pricing Plans. Among the common complaints for Odoo is that of high pricing. ...
- Narrow scope of support.
The best Open-Source ERP
Odoo is a very good workflow management software. It offers a variety of powerful and intuitive tools that simplify the management of finance, accounting, human resources and sales.
Odoo Accounting Software brings you a vast amount of features, ranging from a robust invoicing system, Automation of tasks, and third-party app integrations, to a fully customizable platform of limitless workflows.Does Odoo work with QuickBooks? ›
The app connects Odoo and your QuickBooks Online (Intuit)
Import and Export your Invoices, Payments, Taxes, Partners, Products, Accounts, Payment Terms and Methods, Departments from Odoo to QuickBooks Online (Intuit) and vice versa. Also, you can send payment links directly from Odoo to your customers.
Odoo QuickBooks Desktop Connector allows you to integrate your Odoo with QuickBooks Desktop Application. The module allows you to easily import and export the data for the flawless accounting management.Why Odoo is not popular? ›
Although Odoo offers several customer support options, there are some clients who are not entirely pleased with the offering. A few clients report that bug fixing by the Odoo team often takes a long time to solve, and some have also mentioned that the price of the training classes is too steep.Do big companies use Odoo? ›
Currently, big companies using Odoo ERP enlist famous enterprises like Toyota, Delmonte Quality, Sodexo, WWF, etc. Odoo helps them to resolve issues by identifying the problem and finding its root cause.Why is Odoo so popular? ›
Odoo has more than 26,000 applications in its app store and covers all business needs from one place without having to search for information on different sites and losing traceability. Odoo applications integrate seamlessly with each other allowing you to automate your processes and drastically reduce IT spending.What country is Odoo from? ›
Odoo is a Belgian suite of business management software tools including, for example, CRM, e-commerce, billing, accounting, manufacturing, warehouse, project management, and inventory management.
Why choose Odoo over SAP? ›
SAP is particularly suitable for large companies, but also offers a simpler version for medium-sized companies. Odoo is aimed at all types of companies: small, medium or large. This difference is due to the fact that Odoo is a modular and flexible software that can be adapted to all companies.Is NetSuite better than Odoo? ›
If your business is looking for an affordable, customizable, and flexible ERP software, then Odoo may be the better choice. However, if you're looking for a highly scalable ERP software with strong supply chain management capabilities, then NetSuite may be the way to go.How much does an accountant at Odoo make? ›
The estimated total pay for a Staff Accountant at Odoo is $84,358 per year.How to do accounting in Odoo? ›
- Setup. Set up your barcode scanner. Activate the Barcodes in Odoo.
- Daily Operations. Process to an Inventory Adjustment with Barcodes. Process to Transfers. Create a Transfer from Scratch. Overview.
Odoo Accounting App is an all-in-one accounting software that allows businesses to easily manage their finances. This web-based application offers a range of accounting features including double-entry bookkeeping, bank synchronization, invoicing, and more.What is Odoo best for? ›
Odoo offers features such as project management, human resources management, stock management, invoicing management and many more.Is Odoo similar to SAP? ›
Odoo is a perfect match for SMEs and enterprises with multiple offices but the same business processes. You can implement this ERP quickly. Meanwhile, SAP is oriented toward huge multinational corporations, whose business processes in different offices may vary significantly.Does Odoo handle payroll? ›
Human Resource management module in Odoo manages all those works. This module includes a generic payroll engine that handles everything required to compute Employee payslip, the taxes to pay, etc. And also can manage company payroll in Odoo.What are the accounting type in Odoo? ›
- No type at all (/),
- Profit & Loss (Income account),
- Profit & Loss (Expense account),
- Balance Sheet (Asset account = active),
- Balance Sheet (Liability account = passive).
In Continental type of accounting the cost of goods and services is taken into account when the product is received in the stock. In the case of Anglo Saxon type of accounting the cost is recorded as expense only when the goods is invoiced to a final customer.
What database does Odoo run on? ›
Odoo uses PostgreSQL as the database backend.Who is Odoo biggest client? ›
- Тoyota (Toyota Material Handling) Toyota is one of the biggest companies using Odoo ERP. ...
- Delmonte Quality. ...
- Sodexo (and Idealis Consulting) ...
- The World Wide Fund. ...
- Kasetsart University. ...
- Advanced Biological Laboratories. ...
- Bazile Telecom. ...
- Qatar Investment Authority.
When we apply massive query in single database connection to generate reporting & observe at backend side, we see only one core is 100% used, where as all other 7 are free. Due to that query execution time takes so longer and our odoo system being slow.What is Odoo rank in the world? ›
Website ranking helps evaluate the value of a business. Over the last three months, odoo.com's global ranking has increased from 3,793 to 3,063.
3 Answers. In 2005, Fabien Pinckaers, the founder and current CEO of Odoo, started to develop his first software product, TinyERP. Three years later, the name was changed to OpenERP. The company started to grow quickly and in 2010, OpenERP had become a 100+ employee company.Who is the best Odoo consultant? ›
Captivea is the best expert in Odoo consulting and has been helping companies since 2007 with their CRM and ERP projects, with Odoo and also with other business management software. Captivea is an Odoo partner and has the best project management method to implement Odoo in companies and increase their productivity.Does Toyota use Odoo? ›
A couple of years before implementing Odoo, Toyota Material Handling, underwent some big organizational changes in their group.Which top industries are moving towards Odoo? ›
Let's now understand what all industries are moving towards Odoo. Industries that are moving towards Odoo. - Auto dealers of cars, motorcycles, bicycles, trucks, buses, and equipment manufacturers. - Energy from natural resources, solar panels, and almost all renewable energy-based businesses.What is the main language of Odoo? ›
Odoo uses the programming language python mainly, and xml for views related things and js for dynamic things. If you have basic programming knowledge, you can easily learn basic python and then you can learn odoo.What language does Odoo use? ›
The primary programming language of Odoo is Python. Like the other technologies underlying Odoo, the Python language is open source and runs on all of the major contemporary OS. It is an extremely popular programming language, which makes it very easy to find resources to help you to get started.
How does Odoo make money? ›
Odoo is a SaaS business that generates around half of its revenue from their cloud offering and the other half from an on-premise solution. While the company also charges one-time setup fees, their average customer generates approximately $235 in recurring revenue each month.Is Odoo an ERP or CRM? ›
Odoo ERP system is enterprise resource planning software used company-wide for the management of business processes. Odoo provides seamlessly integrated functional business apps called Odoo apps that form an ERP solution when combined.Where is Odoo headquarters? ›
Where is Odoo 's headquarters? Odoo is located in Grand-rosière, Brabant Wallon, Belgium .What is the difference between Odoo and ERP? ›
Cost: Odoo is an open-source ERP software that is free to use. However, additional features and support may require a fee. In contrast, SAP ERP software is a proprietary solution with a high price tag, including costly licensing fees, implementation, and maintenance costs.Why Odoo is good for business? ›
Odoo is a flexible & modular platform for enterprise resource planning and it delivers arrays of applications and modules for business management. Using these applications allows business owners to enhance efficiency. Today almost every organization is in need of Odoo ERP software.Who is the best Odoo implementation partner? ›
Technaureus is a well-known and established Odoo implementation partner with a strong focus on providing end-to-end solutions to businesses. They offer a range of services including business analysis, software installation, customization, data migration, training, and support.How many companies use Odoo ERP? ›
We have data on 10,847 companies that use Odoo.Is Odoo cheap? ›
-Odoo Community edition is available for free. -Odoo Enterprise edition costs $20/user/month (annual billing) or $25/user/month (monthly billing), and apps can be added individually to fulfill your custom needs.
Myth #3: NetSuite is Outdated
You must be thinking of another software. NetSuite continues to be the leading cloud ERP solution for businesses worldwide due to its remarkable upgrade schedule. Because it's a "true cloud" solution, NetSuite upgrades all accounts twice a year.
- Accounting Professor. Average Income: $77,400. ...
- Director of Finance & Administration. Average Income: $88,900. ...
- Corporate Controller. ...
- Internal Auditing Manager. ...
- Investment Banker. ...
- Financial Planning & Analysis Manager. ...
- Finance Director. ...
- Director of Risk Management/Risk Control.
Where do the highest paid accountants work? ›
The top-paying industries for accountants include finance and insurance, management of companies and enterprises, tax preparation, and the government.What pays the most in accounting? ›
- Audit Partner. Salary range: $115,000-$370,000 per year. ...
- Chief Accounting Officer. Salary range: $138,500-$228,500 per year. ...
- Vice President of Finance. Salary range: $130,000-$194,500 per year. ...
- CFO. ...
- Finance Manager. ...
- Chief Accountant. ...
- Fund Controller. ...
- Internal Audit Director.
- Synchronization On Single Click. Import, Export and Synchronize between Odoo and QuickBooks.
- Import Data From QuickBooks Online To Odoo. ...
- Export Data From Odoo To QuickBooks Online. ...
- Import of Data for selected Date slots. ...
- Automatic Linking Of Saleorder. ...
- Get Status Of Synced Data.
In Odoo, journal entries are made by utilizing the double entry bookkeeping system. Double Entry Bookkeeping Systems require you to make at least one debit line and at least one credit line for each entry. In addition, the totals of the credit side and the debit side of an entry must be of equal value.How to set financial year in Odoo? ›
Go in accounting ‣ configuration ‣ settings and activate the fiscal years. You can then configure your fiscal years in accounting ‣ configuration ‣ fiscal years.What is average days to pay Odoo? ›
Average days to pay = the total number of days to pay divided by the number of closed invoices.What is average cost in Odoo? ›
Average Cost = ( Former Quantity * Former Average Cost + Incoming Quantity * Purchase price) / Final quantity.Is Odoo app free? ›
All Odoo apps are free, on the cloud.Can I make money from Odoo? ›
Up to 20% commission on Odoo Enterprise sales, depending on the partnership level.How much does Odoo pay per hour? ›
Average Odoo Inc hourly pay ranges from approximately $18.44 per hour for Recruiter to $23.81 per hour for Office Assistant. Salary information comes from 1,298 data points collected directly from employees, users, and past and present job advertisements on Indeed in the past 36 months.
Is it hard to learn Odoo? ›
Odoo is the world's easiest all-in-one management software.What is timesheet cost in Odoo? ›
By default on HR module, employee timesheet cost is 50$/hour.How much does Odoo charge for lines of code? ›
Odoo charges for maintenance by lines of code – over $200 per 100 lines of code every year.Can Odoo work without Internet? ›
1) Yes, working with Odoo POS is possible in off-line mode only if your Internet connection gets lost during any session. In this case the browser cache stores the information until the internet connection restores.Who owns Odoo? ›
Founder and chief visionary, Fabien is the driving force behind Odoo. He loves to keep his hands full by participating in the development of the software, marketing, and the Customer Experience strategies.