Odoo vs Quickbooks

A detailed comparison of leading accounting software for SMEs.

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Introduction

Historically, accounting has been considered as a dull and unexciting aspect of business. Nonetheless, as a business evolves, the accounting department will become arguably one of the most important components for its success. This is why providing the accounting team with the tools they need in order to monitor these factors effectively is critical for the financial health of the organization.

Many accounting software options are available on the market, offering numerous features and reporting functions that accountants require, but how does one decide which is best? The ideal solution is accounting software that can be integrated with other commercial solutions. This will result in significant time and resource savings for the organization.

In this page, we have chosen to compare the biggest players on the market, namely Odoo, to Quickbooks. For a balanced comparison of the most widely used accounting solutions, we have compiled a table outlining the essential features an accounting software should encompass. The categories are as follows: General Accounting, Accounts Receivable, Accounts Payable, Bank and Cash, Extras, and Reporting. These categories encompass almost everything a company needs to manage its finances. We have also included a comprehensive list of the pricing conditions and usability analysis for each solution.

To offer a comprehensive comparison of several accounting solutions, we’ve done the exercise for some of the most renowned ones: Odoo, Sage, Quickbooks, Xero, Zoho Books, TallyPrime. Happy reading!

Odoo

Created to disrupt the enterprise landscape and finally provide a simple solution for complex needs, Odoo has become one of the most popular business solutions. With more than 82 business apps fully integrated, and thousands of community modules, the open-source software caters to every sector and company size, becoming a major player on the market.

Odoo is available in three editions: Community, Enterprise, and Online.

"Amazing employees deserve amazing software."

12 million +
users

44,000 +
apps

5,000 +
partners

3,600 +
employees

Quickbooks

Quickbooks, developed by the financial software company Intuit in 1994, is an accounting software solution for small and medium businesses. In 2014, the software was divided and industry-specific were incorporated into separate options to enhance its appeal. Quickbooks is now seen as one of the most widely used accounting software in the US.

Quickbooks is available in two versions: Enterprise and Online. The Enterprise version is available online via additional hosting or locally. In this comparison, we will showcase Quickbooks using Online Essentials.

"Smarter business tools for the world’s hardest workers"

4,5 million +
users

300 +
apps

5,000 +
partners

18,000 +
employees

Features Comparison

General Accounting

Odoo

Quickbooks Online

General Scope

Multi-currency

Consolidation


Multi-User

Multiple Journals



Number of Languages

85

5

Supported Countries

80+

1

Access Rights

Access Rights per Screen


Access Rights per Field


Customizable Validation Steps

Third-Party Integration

Availability of an API



Spreadsheet Integration

Import: Excel or CSV



Export: Excel or CSV


Customer Portal



Accounts Receivable

Odoo

Quickbooks Online

Customer Invoice

Proforma Invoices


Multiple Taxes per Line



Advanced Taxes (fixed, tax of taxes, etc.)



Discounts


Pricelists


Multi-Step Payments Terms


Cash Discounts



Outstanding Payments Reconciliation


Emails Discussion as Attachment



Configurable Email Templates


Send Invoices

Generate a PDF Invoice


Batch Send Invoices by Email



Post Invoices by Standard Mail


Online Payments

Credit Cards


PayPal


SEPA Direct Debit



Customer Statements

Aged Receivable Balance



Customer Statements



Automated Follow-up Letters



Automated Follow-up Actions



Unpaid Fees and Penalties


Third-Party Debits Recovery


Recurring Revenues

Automated Recurring Invoices



Subscription Upsell / Renewal



KPIs: Churn, MRR, Upsells, etc



Alerts for Contract Renewal



Miscellaneous

Automated COGS Entries



Automated Deferred Revenue



Accounts Payable

Odoo

Quickbooks Online

Vendor Bills

Billing Control (Purchase Orders / Receptions)



Multiple Taxes per Line



Purchase Agreements



Multi-Step Payment Terms



Fleet Bills & Disallow Expenses



Peppol / UBL Support



Artificial Intelligence

Bills OCR Recognition



Learning Intelligence



Payment Data from OCR



Realtime OCR (<10 minutes)



Vendor Payments

Aged Payable Report



Print Checks



Automate Wire Transfer (SEPA)



ACH Transfers


Expenses

Employee Expenses Report


Expenses Validation Flow


Mobile App for Expenses



Miscellaneous

Assets Management


Bank & Cash

Bank Interfaces


Import Statements: QIF


Import Statements: OFX


Import Statements: CSV


Import Statements: Coda



Import Statements: Camt.053



Deposit Tickets


Efficiency

Reconcile while Matching


Misc. Operations while Matching


Automated Rules


Bank Reconciliation Reports


Automated Currencies Rate Update


Extras

Odoo

Quickbooks Online

Analytic Accounting / Grouping

Analytic / Cost Accounting


Multi-Level Analytic Accounting



Multiple Plans



Budgets

General Budgets



Analytic Budgets



Payroll

Payroll

Valuation

Standard Price

Average Price

FIFO

Perpetual Inventory Valuation

Reporting

Odoo

Quickbooks Online

Legal Statements

Profit & Loss

Balance Sheet

Cashflow Statement

General Ledger

Tax Reports

Tax Audit Report

Reports

Pivot Table on Multiple Dimensions

Customizable Reports

Customizable Dashboards

Annotate Reports


Customizable KPI’s


Predefined Executive Summary

Perpetual Fiscal Year Closing


Usability, Pricing & Conditions

Odoo

Quickbooks Online

UI

Full Web Interface


Mobile App


Android App


iPhone App


Market Place

App Store / Add-ons


Other (integrated) solutions

eCommerce

Expenses


Inventory


Manufacturing


Operations (project, timesheet, etc.)


Human Resources


Document Management


Subscriptions


Point of Sale


Purchase


Sales


Subjective Ratings

Navigation and Search

5/5

4/5

Data Entry

5/5

4/5

Reconciliation Tool

5/5

3/5

Mobile App

4/5

4/5

Reports Flexibility

4/5

4/5

Pricing and Conditions

Monthly Pricing

Free

27$

Number of Users

Unlimited

3

Contract Duration

Monthly & Yearly

Yearly

Free Trial



User Satisfaction

Rating on g2Crowd

4.3/5

4/5

Rating on GetApp

4.2/5

4.3/5

Rating on Capterra

4.1/5

4.3/5

Brand Exposure

3/5

5/5

Different solutions, Different needs

When choosing the right software for your business, it is important to assess several criteria based on your specific needs.

Business Scope measures a software’s capacity to meet your business needs comprehensively through its features and its flexibility in customizability and integration with other tools.

User-Friendliness measures how straightforward and user-friendly a software solution is for your team to navigate, requiring minimal training or complex procedures. Additionally, it evaluates how hassle-free the software is to set up, considering factors like time, effort, and resource requirements for initial configuration within your organization.

Odoo is a robust solution addressing a wide range of business needs, extending beyond accounting functions. The platform is designed to streamline operations and replace the need for disjointed, non-integrated software applications. Odoo shines as a highly customizable, all-in-one solution with a multitude of applications. Its open-source nature empowers a thriving community, resulting in a vast repository of community-contributed applications. Compared to its competitors, which lack certain crucial features, Odoo provides a high-quality bill management solution.

Quickbooks is considered to be an out-of-the-box solution. It offers specialized accounting software but lacks more advanced features. This software doesn't provide an all-in-one solution for businesses aiming to extend beyond accounting.

In terms of user-friendliness, Odoo provides intuitive interfaces, making the solution suitable for users with diverse technical backgrounds. The straightforward setup ensures a hassle-free experience for every business.

Quickbooks, on the other hand, is considered less user- friendly and can be challenging to set up. Its interface might require more time and effort for users to become familiar with. Additionally, Quickbooks suffers from a lack of direct professional support and system crashes, making the product hard to use for daily operations.

This is why it’s important to consider the specific needs and scale of your business when assessing which solution is the best fit, as the ease of use and setup can vary significantly among these options.

Conclusion

Ultimately, the choice depends on your organization’s unique needs, scale, and the balance needed between customization, ease of use, and setup.

If you are in search of a specialized accounting solution, then Odoo and Quickbooks could be a good fit. With their advanced accounting features, these systems are particularly well-suited for complex accounting environments and provide efficient solutions for every accounting needs.

If you have more extensive requirements, you may find Odoo as the most appealing solution. Its advanced features can accommodate any process. The possibilities in terms of customization and the extensive suite of integrated business applications make it the best solution for businesses with requirements beyond accounting. Furthermore, Odoo excels in user-friendliness and ease of setup, making it a suitable choice for small and medium-sized businesses.