About Odoo

Category: Online Invoicing
Its accounting application is pretty much like most of the accounting software you’ve come across. You can efficiently run your accounts payable and accounts receivable operations, analytic accounting, asset and revenue management, charts of accounts, and several other accounting procedures.

Company: Odoo

Odoo is a SaaS company that runs a suite of business management software. Their tools include CRM, e-commerce, billing, accounting, manufacturing, project management, and inventory management. With over 7 million users worldwide, its software is built for businesses big and small.

In-Depth Analysis

0 Overall
Price 4.5
Ease Of Use 4.5
Features 4.0
Support 4.5

Pros

  • Highly intuitive and easy to use
  • Excellent reconciliation features
  • Mobile-friendly
  • Flexible and highly customizable

Cons

  • Average customer support
  • Complicated pricing structure

Odoo Comparisons

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Plans & Pricing

Unlike most other accounting software on the market, Odoo’s plans and pricing are not exactly straightforward. Also, given that the software is a suite of business applications, it comprises several applications with unique pricing structures. 

Ultimately, the overall cost of using this software is determined by the hosting you select. These hosting types include Standard Cloud Hosting, Self-Hosting, and the Odoo.sh Cloud Platform.

Standard Cloud Hosting
$0
Free version
15-day Free trial
Self-hosting
$36
/mo/user
15-day Free trial
Odoo.sh Cloud Platform
$84.20
/mo/user
15-day Free trial

Standard Cloud Hosting

This hosting is also known as Odoo’s free plan, and it is completely cloud-based. It gives you access to Odoo’s invoicing application at zero costs – irrespective of the number of your users. Nevertheless, you’ll need to pay the cost of using any additional application your business may need at a later time. You also do not have access to detailed support from the Odoo support team.

In addition to the regular pricing for this software, there are some other transactions you may need to pay for. These transactions are outlined below:

Additional Applications: $4-$20 per month

Integration with Shipping Solutions: $15 per month

Amazon Connector: $40 per month

eBay Connector: $26 per month

Additional Users: $10 per month per user

Success packs: From $1,150 per pack

Self-Hosting

To run your business using Odoo’s self-hosting option, you’ll need compatible systems for installation and use. The requirements for this compatibility are listed on their website.

This hosting also requires a monthly payment of $18 for access to the Odoo accounting application. $8 per month for the accounting application, $4 per month for the invoicing app, and $8 per user (with a $2 discount for new customers).

Odoo sh. Cloud Platform

Odoo sh. Cloud Platform is an advanced cloud-based hosting option that is ideal for large business owners. It features DNS and routes, email gateways, and staging and backup servers to enable business owners to use the platform online and still have their data backed up on featured servers.

The Odoo.sh cloud platform comes at a gross monthly rate of $112.75, with each user’s access costing $10. In addition, the Odoo accounting application costs $10, and the invoicing app goes for $5.

Since you’ll need storage space on this plan, server storage known as the Odoo.sh storage at $0.25 per GB is also included in the monthly sum. Finally, an Odoo worker will be attached to your business for implementation and functionality support. For each worker, you’ll pay $72 every month, and you can choose to have more than one worker attached to your business.

Ease of Use

While a few users may prefer stand-alone accounting software, Odoo didn’t trade intuitiveness for versatility. As a result, its accounting software is still easy to use. Users can quickly complete their accounting processes on the software with minimal errors.
Odoo has a cloud-based Standard platform which eliminates the need for complex implementation hardware requirements. This option only requires that users have internet access and a supported browser. However, to use the more advanced Odoo.sh Cloud Platform, you’ll need to have a system with certain specifications for proper installation and implementation.
Implementing the advanced Odoo option will not constitute a problem because an Odoo worker is included in the package. You’ll not need to hire external hands for implementation.
Odoo accounting also comes in a mobile application to help users complete accounting operations while on the go. You can deploy this app on iOS and Android devices.

Features & Functionality
General Features

Recurring Invoicing

Odoo’s invoicing allows you to automatically convert your quotes to invoices, and forward them to your clients. You also enjoy an automated creation and delivery of recurring invoices based on order, time and contract.

Automated Follow-ups

Odoo invoicing has a follow-up feature that comes in very handy in reducing the awkwardness of credit collection. This feature helps you streamline your billing, and receive payments from your customers right on time.

Each of your clients also gets to have a customized portal. And from this portal, they can monitor their orders with your business, check each invoice and complete each order’s payment with their credit cards or by scanning QR codes generated by the system.

Online Payments

Odoo also ensures that you encounter no difficulty receiving payments from your clients. You can very easily accept payment from a number of online platforms like Stripe, PayPal, Authorize.net, Adyen, and Buckaroo. However, you get to pay a connector fee to be able to use some of these platforms for online payments.

Cash and Bank

Odoo invoicing has a bank account tracking feature that empowers users for error-free reconciliation. It helps you monitor your invoices – draft, unpaid and paid.  In addition, its direct reconciliation proposition ensures that your payments (online, cash, and bank) are rightly matched with their invoices. You can also record your bank and online transactions automatically by importing corresponding bank statements.

The software supports more than 15,000 banks and allows for automated bank feed, accurate register management, and multiple-format statement transfer. You also have system-generated reconciliation reports to help you during auditing.

Analytics

Analytic invoicing hasn’t been more simplified than in the Odoo invoicing application. With this feature, you can manage more than one analytic account, automate their structures, integrate and rightly distribute your entries across your accounts. You can also analyze this application according to product, client, employee or company.

Odoo takes billing reports a notch higher by ensuring that you can generate reports and synchronize them across multiple company profiles. From the customizable invoicing dashboard, you can automate the calculation of your P and L, annotate each report and set your users’ lock entry.

Integrations and Add-Ons

Odoo’s vast integrations and customizations make it an excellent choice for businesses that thrive on flexibility. In addition, the entire suite features 39 other applications you can easily purchase to have all your business tools in one place.

You can also integrate the Odoo invoicing software with Google spreadsheets to make invoicing less burdensome for your business. Its API also ensures that you sync your invoicing tool with other third-party applications for improved efficiency. We can’t leave out the Odoo Studio app that allows you to build applications that are unique to your business – even without coding experience.

You can also integrate the Odoo invoicing application with TaxCloud, VOIP, and eCommerce plug-ins like eBay and Amazon. You can also sync shipping services like UPS, EasyPost, FedEx, and DHL with the software. However, each of these integrations comes at an additional fee paid monthly.

Features
  • Customizing your invoice
  • Tracking Invoice Views
  • Customizing invoice payment terms
  • Offer Discounts
  • Estimates
  • Recurring Invoices
  • Multi-Currency
  • Multi-Language
  • Client Portal
  • Send Emails
  • Automated Tax Circulations
  • Invoice Previews
  • Banking Data Synchronization
Payments
Features
  • Send receipts to customers
  • Online payments
  • Late Payment Fees
  • Track refunds and credits issues
  • Deposit Payments
  • Track Offline Payments
  • Credit Card Payments
  • Auto Payment
  • Payment reports
Time Tracking
Features
  • Automated bills for tracked hours per project
  • Different Rates for each Project
  • Generate Invoices
  • Timer
  • Tracking against clients and projects
Track Expenses
Features
  • Record Expenses
  • Record Mileage
  • Generate Invoices
  • Recurring Expenses
Supported Devices
Features
  • Windows
  • Android
  • Linux
  • iPhone/iPad
  • Mac
  • Web-Based
Pricing Model
Features
  • Monthly Payment
  • One-Time Payment
  • Annual Subscription
Verdict

Odoo accounting makes for an ideal platform for business owners looking to scale their operations flexibly. If your business thrives on multiple digital solutions, this software’s integration and customization options will do you good. If you’re also looking for an averagely priced system, Odoo would be a great option.
However, if you run a large business, Odoo accounting may not meet up with your business’s need for more advanced accounting features like bookkeeping, financial reporting, and treasury supports. But then, you have up to 15 days to try the premium options of this software. Its features may well be all your business needs.

Fakhar Imam
Author: Fakhar Imam
Fakhar Imam is a Cybersecurity and Academic Writer with a higher education degree in the Master of Sciences in Information Technology (MSc-IT). He is also experienced with writing VPN reviews, blogs, and articles. Moreover, he has written dissertations, whitepapers, e-books, and a lot more about cybersecurity and IT. Fakhar believes in providing a masterpiece of work on time.
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