Hello all! Bookkeeping can be quite a job, especially when you have to do it on top of all the other tasks that come with running a business. Fortunately, Odoo can take a lot of these burdens off your shoulders. Here are 10 reasons why you can do your accounting in Odoo.
1. User-friendliness
Odoo's intuitive user interface makes navigating financial data easy. You don't need an accounting background to perform basic functions. And thanks to the built-in wizards and templates, you'll be up and running in no time.
2. All-in-one Solution
Odoo is not just an accounting program; it is a complete one ERP-solution. This means that you can directly link your financial data to other company data. Think of sales orders from your CRM that are automatically converted into invoices.
3. Real-time Insight
Odoo's dashboards provide a 360-degree view of your finances. From cash flow to outstanding debtors, everything is visible in real-time. This helps you make fast, data-driven decisions.
4. Automation
From automatically matching incoming payments with open invoices to sending regular payment reminders, Odoo automates much of the heavy lifting, leaving you free to focus on strategically important tasks.
5. Scalability
Odoo has a super simple licensing model. You only pay per user. You can use everything for one price per user. If you only want bookkeeping (1 app), Odoo is completely free!
Check here what Odoo will cost you. You won't believe it, but it's true ;)
6. Adaptability
Odoo makes it easy to customize fields, workflows, and reports. Do you have a specific reporting requirement? You can add these yourself without much effort.
7. Multiple currencies and multiple languages
Do you do business in multiple countries? Odoo can convert and post transactions in different currencies effortlessly. Language barriers are also no problem, thanks to the multilingual interface.
8. Easy in the cloud
One of the big advantages of Odoo is the ability to run it in the cloud. This means you can access your financial data anytime, anywhere, without having to worry about server maintenance or updates. It's a hassle-free way to manage your accounting, with the flexibility to log in at any time, regardless of where you are.
9. Regular Updates
Odoo's active development community ensures regular updates with new features and security patches. So your software always remains up to date.
10. Extended Support
Whether you figure out how things work yourself or prefer to get professional support, Odoo offers a range of options, including an extensive knowledge base, forum and paid support packages.
But of course, you can also consult an Odoo expert 😜
The 20 best features of Odoo Accounting
11. Inventory integration
1. Double entry Bookkeeping
An essential function for accurate and transparent financial administration.
2. Bank Synchronization
Automatic connection with your bank to track all transactions in real-time.
3. Invoicing
Easily create and send professional-looking invoices.
4. Payment Processing
Support multiple payment methods such as credit card, bank transfer and more.
5. Periodic Reporting
Generate monthly, quarterly and annual financial reports with one click.
6. Dashboard
A real-time overview of your financial situation.
7. Automatic VAT declaration
Automatically prepares your VAT return based on your accounting data.
8. Expense management
Track and manage all business expenses from one central location.
9. Multi-currency
Make transactions in different currencies without any headaches.
10. Multi-language
Multilingual support for international business.
11. Integration with inventory
Seamless integration with inventory systems for accurate accounting of goods and materials.
12. AR/AP Overview
Easily keep track of who still owes you money and to whom you still have to pay.
13. Budgeting
Set budgets and compare them to actual expenses.
14. Cashflow Analyses
Detailed insights into your cash flow to monitor the financial health of your company.
15. Analytic Accounting
Divide costs across different departments or projects for more detailed reporting.
16. Electronic Approval
Get invoices and other financial documents approved electronically to speed up workflow.
17. Access management
Set different levels of access rights to ensure the security of your financial data.
18. Accounting Templates
Use predefined templates to make your accounting faster and more efficient.
19. Tax Reporting
Create complex tax reports with ease thanks to built-in tools.
20. Customizable workflows
Create custom workflows that fit the unique needs of your business.
10 Reasons to do your accounting in Odoo