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Odoo Accounting Software

With Odoo accounting software transform your general ledger, optimize AR, automate AP and streamline tax management with embedded AI capabilities. Get a complete view of cash flow and financial performance.

​What is Odoo Accounting Software?        Benefits        Features        Challenges        OdooSuccess        Pricing        Resources 

What is Odoo Accounting Software?

Odoo accounting software simplifies the process of recording transactions, managing payables and receivables, and closing the books with capabilities such as AI that boosts the automation of manual processes. Gain real-time insights into numerous financial metrics, such as profitability ratios, inventory margins, liabilities, fixed assets, taxes and cash positions. With access to financial data anytime, anywhere, you can quickly drill into details to resolve issues and generate statements and disclosures to comply with multiple regulatory financial compliance requirements such as ASC 606, GAAP, SOX and others.

Improve financial controls, close faster and produce accurate reports

Accounting and Beyond 

As your company grows and you face more complex business challenges, Odoo’s got you covered. As a unified platform, Odoo accounting software seamlessly integrates with all the other pieces of the suite, including financial management capabilities, inventory and order management, HR, customer management, ecommerce and more. Now you can stop worrying about your business systems and concentrate on growth.


 
 

Odoo Cloud Accounting Software Features

Odoo seamlessly couples core finance and accounting functions with strong compliance management, improving business performance and increasing financial close efficiency while reducing back-office costs.

General Ledger

With Odoo's general ledger capabilities, accounting professionals gain flexibility and visibility, richer reporting functionality, enhanced audit trails and the ability to customize account types, transactions and reporting segments to meet unique business requirements.


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Cash Management

Finance teams need the visibility and reporting tools to optimize cash flows, monitor bank accounts, manage liquidity and make informed decisions. Odoo provides a complete view of the company's money flows and cash position so finance teams can be more strategic than ever before.

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Accounts Receivable

Odoo automates and streamlines every aspect of invoice delivery, payment processing and collections management so you can increase liquidity to fund growth, shorten the credit-to-cash cycle, enhance service levels and seize new investment opportunities as they arise.

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Accounts Payable

By automating your accounts payable processes, Odoo saves time and increases efficiency. Avoid late fees and improve cash flow by taking advantage of early payment discounts. Ensure compliance with internal policies and avoid payment fraud with automated review and approval workflows.

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Account Reconciliation

Automate the reconciliation process for accounts payable and receivable, bank, credit card, prepaid, inventory, accruals, fixed assets, intercompany transactions and other balance sheet accounts. Centrally manage and view the status and details of each account with balance comparisons, preparers, reviewers, and sign-off dates.

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Tax Management

Manage domestic and global tax through one simple, easy-to-use solution that generates detailed reports, analyzing transactions down to line-item tax details in real-time. Odoo handles local taxes across subsidiaries and allows for multiple tax schedules for everything from GST to VAT, consumption tax and general sales tax.

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Close Management

Accelerate the financial close by automating inefficient manual tasks, such as journal entries, account reconciliations, variance analysis and intercompany transactions.

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Fixed Assets Management

Odoo enables businesses to manage and control the complete lifecycle of depreciating and non-depreciating assets, from creation to disposal. Finance teams can eliminate manual spreadsheets and overcome the challenge of tracking assets across multiple facilities with a fully integrated fixed-asset accounting solution.

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Payment Management

Whether you invoice customers, bill their credit cards on a recurring basis or accept payments online or at the point of sale, Odoo bank payments and payment processing solutions give you the tools to increase collections and real-time financial data insights that help track and reduce days sales outstanding.

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Learn How Free Open SourceERP Can Streamline Your Business

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" Cutting out the manual time and energy that goes into the QuickBooks system has really saved us on payroll. "

Jordan DeCicco 

Founder, Super Coffee

Odoo Accounting Software Benefits

Increase Accounting Accuracy. Eliminate duplicate data entry and inefficient spreadsheets. 

Real-time Information. Real-time metrics and role-based dashboards help you keep an eye on the business. 

Close with Confidence. Accelerate the financial close and maintain compliance with accounting standards.

Challenges Odoo Accounting Software Solves

Manual Processes. Automate and simplify manual accounting processes that waste time and resources. 

Data Accessibility. Gain a single source of real-time transactional, financial and operational data. 

Accuracy. Replace spreadsheets and boost accuracy by eliminating duplicate data entry and incorrect formulas. 

Compliance. Consistently apply the appropriate rules and schedules to revenue recognition, depreciation, prepaid and deferred expenses and other financial processes.

OdooAccountants 

It’s never been easier or more cost-effective for accounting firms to support Odoo users. With the OdooAccountants program, accounting professionals receive a free Odoo license so they can access their clients’ Odoo accounts and perform any needed tasks.

Odoo – Your proven path to success

Leveraging more than 25 years of experience working with tens of thousands of organizations, across all industries and business sizes, our  customer lifecycle methodology helps customers transform their business. It starts by building an AI-powered, integrated business suite with industry-specific solutions. Then we engage with your business to ensure that we’re addressing your specific needs and guiding you along the way on how to best consume and optimize Odoo to solve challenges of today and the future. This approach helps ensure customers experience faster time-to-value, better ROI, and greater employee adoption.

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How Much Does Odoo Accounting Software Cost?

Companies of every size, from pre-revenue startups to fast-growing businesses, have made the move to Odoo. Looking for a better way to run your business but wondering about the cost? Users subscribe to Odoo for an annual license fee. Your license is made up of three main components: core platform, optional modules and the number of users. There is also a one-time implementation fee for initial setup. As your business grows, you can easily activate new modules and add users – that’s the beauty of cloud software. Odoo supply chain management solutions are available through various module.

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