Odoo Accounting

Move to the fastest online Accounting App and
keep your Books Organized!

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Jose Cruz

President JDC Systems Innovations, inc.

They were able to understand not just the technical aspects of our requirements but the business as well.

 5/5

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Overview: Odoo Accounting App

Manage, Monitor, and Analyze your figures to grow your business.

Odoo didn’t trade intuitiveness for versatility; its accounting software covers all the accounting essentials offering ease of use.

The Odoo Accounting app enables financial efficiency for your business providing you access to the most flexible dashboards, reports, analytics, high-level overviews, or specific business activity.

Accounting in Odoo supports multi-language, multi-currency, and multi-company, so users can easily manage international or distributed business units/subsidiaries with real-time knowledge and visibility.

Moreover, Odoo’s cloud-based platform enables your staff to access everything from anywhere on the go, offering fine-grained controls, robust authentication, and encryption.

Odoo Accounting Core Features

Modern User Interface

Based on the Google Material Design trend, Odoo Accounting offers a fast and modern user interface with an easy setup and configuration progress bar.

Reduce data entry

Odoo Accounting automates everything for you- invoice printing/sending, bank statement registration, payment follow-up, and more saving your time and manual efforts.

Bank Interfaces

With automated reconciliation, you can speed up the accounting process by automatically syncing your financial data, like bank statements in Odoo.

Customer Invoice

Odoo Accounting lets you create invoices that are easy to build, fully featured, and customizable.

On-the-fly Payment Reconciliation

While creating invoices, Odoo quickly highlights outstanding invoices so you can see if a customer is paying bills on time, thereby avoiding late fees.

Credit Card Payments

Odoo Accounting supports online payment through credit cards and gateways like Authorize.net, Ingenico, PayPal, Adyen, etc.

Automated Payment Follow-ups

Odoo sends emails, follow-up letters, and tasks automatically to save your hassles for the credit collection process.

Aged Receivable Balance

Get a clear overview of overdue payments and treasury forecasts.

QR Codes

Odoo accepts payment through QR code scanners with customers’ banking app.

AI-powered Invoice Digitization

Upload your scanned PDF or image format files to vendor bills, and Odoo’s OCR and AI technologies will encode and automatically generate their invoices.

Forecast Expenses

Odoo uses your past expense data to estimate your company’s future bills to pay.

Organize Payment Flows

Create your own payment flows with optional validation steps.

Sync Bank Feeds

Odoo supports 15,000 banks across the globe, so you can sync your bank feeds automatically from the bank to the system.

Manage Cash Registers

Odoo keeps track of every cash transaction with opening and closing.

Payroll

Odoo offers a standard Payroll module or flexibility to integrate with an external payroll provider, which automates the recording of payroll.

Smart Reconciliation Tool

Odoo Accounting app automatically matches 95% of invoices and payments, and the smart reconciliation tool does the remaining 5% super-fast.

Multi-support

Odoo Accounting supports multi-currency, multi-companies, multiple users, and multiple journals. You can get updated currency rates daily, automate business flows with inter-company rules, offer different access rights, and organize documents into several journals, respectively.

Business Intelligence Reports

Multiple standard reports are available to analyze Profit and Loss, cash flow statements, cash reports, aged payable/receivables, etc. Odoo also offers standard reports and charts of accounts for 80+ countries. All of these could be exported to Excel and PDF.

Customizable Dashboards

Odoo Accounting allows you to create your own dashboards by assembling custom reports for any period using filters and dynamic calculations for specific fields.

Perpetual Fiscal Year Closing

Now you don’t need to report balance sheet accounts into the next fiscal year as Odoo performs automatic calculation of Profit and Loss for chosen dates, all you need to do is write the handling of earnings for closure.

Advanced Taxes Management

Odoo Accounting supports a wide range of tax computations- price included/excluded, percentage, grid, tax on taxes, partial exemptions, etc.

Balance Sheet

Your current year earnings are automatically reported to your balance sheet without you having to close/open fiscal years.

Country-specific Statements

Odoo lets you generate region-specific statements such as Intrastat reports, VAT statements, P&L/BS of the country, listing of VAT-subjected customers, etc.

Fully integrated with other functions

Get accounting entries automatically produced based on timesheets, supplier bills, work orders, etc.

Renewal alerts

Odoo Accounting sends automated alerts to your Salesperson when contracts need to be renewed.

Customer Portal

Odoo’s Accounting customer portal lets customers change their plans, order upgrades, or downgrade/unsubscribe.

Assets Management

Track inventory to asset, generate periodic depreciation statements and automatically update asset register in just a few clicks.

Revenue Recognition

Review multi-year contracts, automate deferred revenue entries, and get recurring revenues on dashboards to help your business with financial projections.

Google Spreadsheet Integration

Connect Google Spreadsheet to Odoo SaaS and automatically pull data from Odoo to create your dashboard in your Spreadsheet.

Tax cloud Integration

Apply the correct tax rates in real time for every state, city, and special jurisdiction in the United States.

Consolidation

Leverage closing, historical, average exchange rates, or data from other financial systems and combine financial information from multiple companies to generate consolidated statements.

Flexible Import-Export

Use the Built-in import-export tool to mass import or export through Excel sheets.

Why choose Odoo for Accounting?

Fully Integrated with other Odoo App

Stop recording transactions manually; Odoo Accounting is fully integrated with Inventory, Sales, Purchases, Projects, and Documents to increase financial efficiency.

Get Paid Faster

With a convenient customer portal, automated follow-ups for payment, multi-currency support, and multiple payment providers, Odoo ensures you get paid in less time.

Analyze your figures to grow your business

Odoo offers instant, generic, dynamic reports to allow you to manage your financial and legal statements accurately.

Fiscal Localization Packages

Odoo Accounting supports 70+ localization packages, explicitly pre-configured for your country’s- charts of accounts, taxes, electronic invoicing, and fiscal positions to apply the right tax rates and accounts automatically.

Accounting for Fiduciaries

Odoo integrates the Documents app to deliver information thoroughly and effectively with effortless document management, a detailed client dashboard, and a collaborative system for unlimited users.

AI-powered Invoice Automation

Odoo’s AI system recognizes the document’s layout and grabs appropriate data to process the vendor bills. You can also scan multiple bills/documents at once with AI-powered Invoice automation and image and metadata recognition through the OCR engine.

How will Aktiv help you with Odoo Accounting Implementation?

We have helped customers like you in Odoo Accounting implementation to help them manage daily accounting activities with proper configuration across the system.

Be it managing a Chart of accounts, Journals, Assets, Taxes, Fiscal Position, Fiscal year, Bank and payment configuration, Report Configuration, or any sort of customizations we manage it all for your business on Odoo.

Contact our Certified Odoo Consultants to talk about your Accounting needs.