TrustRadius: an HG Insights company

Odoo Accounting

Score8.9 out of 10

14 Reviews and Ratings

What is Odoo Accounting?

Odoo Accounting is designed to help companies manage their daily accounting with 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, with Odoo Accounting, as well as automation for primary day-to-day tasks. The Odoo app is synchronized with 24,000 banks, to make it easier to link a payment with a statement, based on the transaction in a bank account. Reconciliation can also be done by importing the statement files (OFX, QIF, CSV, or Coda). The new List view is built to give users greater visibility on document statuses and next activities.

Categories & Use Cases

Media

Top Performing Features

  • Custom reports

    Users can create custom reports.

    Category average: 7.7

  • Self-service portal

    The software provides online portals for certain stakeholders to find information relevant to them, such as employees, vendors and customers.

    Category average: 7.5

  • Enterprise Accounting

    Create accounting for disconnected ERP and non-accounting source systems

    Category average: 7.9

Areas for Improvement

  • Standardized Processes

    Centralize financial management to facilitate standardized financial processes

    Category average: 8.2

  • End-to-end order visibility

    Get updates on orders, inventory, shipments, planned supply, and invoices, and improve the quality of decisions through in-context analytics

    Category average: 7.9

  • Order exception Resolution

    Monitor fulfillment tasks and resolve issues, view and evaluate varios options via what-if analysis and define and enforce change order rules

    Category average: 7.2

Odoo Accounting, for when you need more.

Pros

  • Email notification
  • Journal Entries
  • Credit Card Payments
  • Syncing Bank Statements

Cons

  • Synchronize Merchant Processor Accounts

Return on Investment

  • Low cost
  • More Automation
  • Centralized Management

Alternatives Considered

QuickBooks Online

Other Software Used

Odoo Sales, Odoo eCommerce, Odoo Manufacturing, Odoo Inventory, Odoo Invoicing

Usability

Odoo Accounting Strength and Capabilities

Pros

  • Simple and easy to use Integrated Accounting Software
  • Affordable subscriptions option for cost saving
  • Highly customizable options available

Cons

  • Multiple localization options needed
  • Adjustment for Financial Reports Layout option
  • GDPR Compliant for specific integrations

Return on Investment

  • Single platform for your business need
  • Fully Automated Streamline Business Processes
  • Integration with 3rd party applications

Alternatives Considered

SAP Business One

Other Software Used

SAP Business One, SAP Business ByDesign, SAP SuccessFactors

Usability