What is Odoo?
Odoo is an open-source enterprise resource planning (ERP) software that offers a wide array of business management tools that allows you to run your business with ease. One of its business management tools is its accounting software which enables you to manage bookkeeping and accounting tasks.
As a small or medium business owner, you need specific tools to help you manage your business and online accounting software is one you can’t ignore. It will allow you to monitor and evaluate your business, especially your financial performance.
Since its release in 2005, Odoo has been helping small and medium-sized businesses manage their bookkeeping and accounting, among other tasks. It also offers a mobile version that allows you to work from anywhere at any time, and you get access to an array of other services (called apps) you’ll need for your business at affordable fees.
Odoo is convenient and easy to use, even for first-time users. Its apps are well integrated, allowing you to access them simultaneously without closing any application.
Odoo
What popular features do you get with Odoo?
- Proper Inventory Management
- POS (Point-Of-Sale)
- Project Management
- Business Sales Management
- Resource Planning for Enterprises
- Asset Management
- Worksheet Generations
- Stock Movement and Management
- eCommerce
- Website Development
- Targeted Marketing Campaigns
- Warehouse Management
- Accounts Management
Customer Support is available at Odoo
With the features listed above, you now have a fair idea of the capabilities of the Odoo accounting software. However, like every technology-based tool, it’s possible to run into difficulty using any of its features.
Odoo provides some customer service options you can choose from if you get stuck using the tool. Its customer support services include:
- Telephone calls
- A training center
- A knowledge base consisting of company news and helpful blog posts
- Live chat feature
Odoo’s customer service is quite limited, and you may find this challenging if it’s an emergency. This is perhaps the only main downside you’ll experience while using this software.
What kind of business is Odoo ideal for?
Are you looking for the ideal affordable accounting and inventory tool? Then, Odoo is the right choice for you. Odoo has developed a series of applications that are upgraded from time to time to suit the needs of every business – small or medium-scale businesses can all use Odoo.
Its cloud-based accounting software helps you manage your finances seamlessly. Odoo offers some services for free, and this makes it the ideal bookkeeping software for small businesses.
The Odoo accounting software is currently used by several businesses, including but not limited to:
- Technological companies
- Food companies
- Healthcare companies
- Pharmaceutical companies
- Cosmetics companies
- Auto dealers
- Clothing companies
- Real Estate Companies
- Engineering sectors
The list above includes a few companies and industries. However, the good thing is that Odoo is a cheap accounting software you can use no matter the type of business you are into.
Pros and Cons
- It doesn’t require any licensing fees
- You can customize it to suit your business’s needs because of its open-source nature
- There are regular updates and improvements to the applications
- You can navigate the apps with ease
- Your business’s data and your personal information are secure
- Odoo has a friendly interface that makes it easy for you to understand its features
- It’s a free bookkeeping software which makes it ideal for small businesses
- You can use Odoo on mobile devices. This means that you can manage your business from anywhere you want.
- Lengthy installation process
- Expensive pricing for the paid version
- Limited service support
People like you also researched
Here are some products we think might be a good fit based on what people like you viewed.
Intuit Quickbooks
- Over 650+ different business app integrations
- Extensive record-keeping
- Real-time, accessible accounting and bookkeeping solution
- Powerful business insights dashboard
Oracle Netsuite
- All-in-one solution
- Streamlines several business workflows
- Helps with paying taxes and maintaining financial compliance
- Extremely customizable
Freshbooks
- User friendly interface
- Regular updates on glitches and software improvement
- Affordable
- Financial reporting
How much does Odoo cost?
*based on information provided by the vendor. Actual cost may vary.
Odoo is one of the best free bookkeeping software for small businesses. Even its paid features are cheap and easy for small businesses. The prices vary depending on what services you require. You should also note that fees are charged every month.
These services are listed at the following prices:
- Website Development: $8.00
- eCommerce: $4.00
- Invoicing: $4.00
- POS services: $8.00
- Accounting: $8.00
- Social Marketing: $12.00
Odoo comes with many other services, each at a specific fee. You can check their website to find out the prices for each service.
Final thoughts...
Odoo is an excellent accounting software worth trying out. As a small business owner, bookkeeping, inventory, and accounting management can be challenging. Using Odoo for these tasks will cut costs and save time. Its paid services are affordable, and you won’t need to break the bank to get them.
Visit the Odoo website to get a complete picture of how its accounting software can help your business. If you want to check out other accounting software before making a decision, fill out the form below, and check out other top accounting software you can choose from.
