Introduction
Today, Accounting is not only restricted to data entry, ledgers, bookkeeping, and number crunching. It is evolving over time in order to meet business needs. The accounting industry is undergoing drastic changes due to technological advancements, automation, artificial intelligence, RPA, machine learning, and analytical processing. This is leading to digitally transforming businesses and industries.
One major emerging Accounting trend is the switch over to the ERP system. They provide you an opportunity to integrate your accounting software with financial data and other elements of business such as inventory, sales, manufacturing, etc.
It is expected that accounting software will be in high demand in the upcoming years. Accounting software available can be either installed locally or through a cloud service provider.
Features Comparison
This analysis compares two of the top players of the Indian market: TallyPrime 3.0 and Odoo 17. The comparisons are organized into 9 main categories: General Accounting, Accounts Receivable, Accounts Payable, Bank and Cash, Miscellaneous Operations, Document Management, Analytic Accounting/Cost Centres, 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 in this comparison.
Odoo
Odoo is a leading integrated ERP software used worldwide for managing business processes. Apps and modules are present for CRM, Sales, eCommerce, Inventory, Accounting, Billing, Manufacturing, etc.
It possesses an impressive user interface & modular structure, highly customizable, scalable, and affordable. This suite of open-source business apps is designed to meet industry-specific demands.
Odoo Enterprise Edition (paid), Odoo Community Edition (paid), and SaaS subscription plans are offered by it. It is easy to use, extremely flexible, and integrates with several third party add on software apps. It is suitable for both small to large companies.
"Amazing employees deserve amazing software."
12 miliónov +
užívateľov mesačne
44,000 +
apps
5,000 +
partners
140
countries
TallyPrime
TallyPrime is a blend of function, control, and in-built customization which offers multiple functionalities for Accounting. It can help in fulfilling all business requirements accounting, invoicing, reports, inventory etc.
TallyPrime enables you to create and maintain records of up to 99,999 companies. Silver Rental, Silver, Gold Rental, Gold plans are offered by TallyPrime based on editions & PCs. Single use Tally software and Multiple user Tally software are available in the marketplace to fullfill the requirements of businesses.
"Harmonize success with smart tools capabilities "
7 million +
monthly users
700 +
apps
28,000 +
partners
India Only
Porovnanie funkcií
General Accounting
Odoo
TallyPrime
General Scope
Multi-currency
Multi-Branches
Multi-User
Multiple Journals
Multiple Language Support
Supported Countries
140
6
Accrual and Cash Basis
Real Time Accounting
Prístupové práva
Access Rights per Screen
Access Rights per Field
Customizable Validation Steps
Third-Party Integration
API
Spreadsheet Integration
Import: Excel or CSV
Export: Excel or CSV
Customer Portal
Customer / Vendor Communication
Emails
One Way
Whatsapp
One Way
Internal Communication
Email
Chat
Video Conference
Accounts Receivable
Odoo
TallyPrime
Customer Invoice
Proforma Invoices
Multiple Taxes per Line
Discounts
Pricelists
Advanced Payments Terms
Cash Discounts
Outstanding Payments Reconciliation
Configurable Email Templates
eSignature on Invoices
Customer Credit Limit
Artificial Intelligence
Real Time Accounting
OCR Invoices
Auto-Reconcile
Account Prediction AI
Send Invoices
Generate a PDF invoice
Batch Send Invoices by Email
Send by WhatsApp
Post Invoices by Standard Mail
Customer Statements
Aged Receivable Balance
Per Customer Statements
Automated Follow-up Emails
Automated Follow-up Letters
Automated Follow-up Actions
Unpaid Fees and Penalties
Third-Party Debits Recovery
Online Payments
Credit Cards
PayPal
UPI
Recurring Revenues
Automated Recurring Invoices
Contracts / Subscriptions Management
Recurring Business KPIs (MRR, Churn)
Alerts for Contract Renewal
Miscellaneous
Automated COGS Entries
Automated Deferred Revenues
Sales Order Acruals
Accounts Payable
Odoo
TallyPrime
Vendor Bills
Billing Control (Purchase Orders / Receptions)
3-Way Matching
Multiple Taxes per Line
Purchase Agreements
Multi-Step Payment Terms
Side-by-side View: PDF/Form
Expenses
Mobile App
Validation Process
Reimburse employees
Artificial Intelligence
Scan Vendor Bills
Scan Expense receipts
Vendor Payments
Aged Payable Report
Print Checks
Automate Wire Transfer (SEPA)
ACH Transfers
Expenses
Employee Expenses Report
Expenses Validation Flow
Disallowed Expenses
Miscellaneous
Assets Management
Purchase Accruals
Banka a pokladňa
Odoo
TallyPrime
Bank Statements
Bank Interfaces
Import Interfaces: SEPA
Import Statements: OFX, QIF
Import Statements: CSV
Import Statements: Camt.053
Deposit Tickets
Miscellaneous
Bank Reconciliation Reports
Automated Currencies Rate
Automate Currency Gains/Losses
SDD Mandate
Miscellaneous Operations
Odoo
TallyPrime
Indian Localisation
GST Filing
TDS
eInvoicing
eWaybill
UPI
Audits
Multi-Branches
Journal Entries
Automatic Transfers
Intercompany Entries
Auto-Post in Future
Journal Items Cut-Offs
Documents Management
Document Management
Document Search Engine
Auto-split Multiple Invoices
Customer Portal
Collect by Email
Collect by Scan
Upload from Portal
Analytic Accounting / Cost Centers
Analytic Accounting
Multi-level Analytic Accounts
Multiple Plans
Automatic Propositions
Extras
Odoo
TallyPrime
Analytic Accounting / Grouping
Analytic / Cost Accounting
Multi-Level Analytic Accounting
Multiple Plans
Optional Tags per Entry
Budgets
General Budgets
Analytic Budgets
Payroll
Payroll
Valuation
Standard Price
Average Price
FIFO
LIFO
Perpetual Valuation
Ostatné
Contracts Electronic Signatures
Multi-company consolidation
Reporty
Odoo
TallyPrime
Legal Statements
Profit & Loss
Balance Sheet
Cashflow Statement
General Ledger
Tax Reports
Tax Audit Report
Bank Reconciliation
Aged Receivable
Aged Payable
Executive Summary
Reports
Pivot Table on Multiple Dimensions
Customizable Dashboards
Tabuľka
Annotate Reports
Customizable KPI’s
Ratio Analysis
Predefined Fiscal Year Closing
Usability, Pricing & Conditions
Odoo
TallyPrime
UI
Full Web Interface
Mobile App
Android App
iPhone App
Nástroje produktivity
Mass Edit
Group by in lists
Screen Designer
Trhovisko
App Store / Add-ons
Subjective Rating
Navigation
9/10
6/10
HľadaŤ
10/10
4/10
Shortcuts
9/10
9/10
Data Entry
8/10
8/10
Reconciliation Tool
10/10
7/10
Mobile App
10/10
1/10
Reports Customization
9/10
5/10
Pricing and Conditions
Pricing
Free, Forever
₹7,200 /year -
₹21,600 /year
Contract Duration
Monthly & Yearly
Monthly & Perpetual
Free Trial
15 days
7 days
Free Updates
Hosting & Maintenance
Support
Different solutions, different needs
In order to excel in business, it is important to streamline ineffective processes. For it, you need to opt for the right software. This leads to the analysis of certain parameters such as- features, functionality, workflow, etc.
Business scope evaluates the software functions, specifications, usability, customization capability, and integrations with other tools for your business growth.
User-friendliness measures how software is user-friendly to use easily & intuitively and whether it is adaptable to the business according to its tailored needs or not. It evaluates how the software is simple to install along with the updates requiring minimal effort to understand & avoid time-consuming training and procedures. It should also adhere to the industry standards and be efficient after all.
Odoo and TallyPrime have bought game-changing software solutions to the accounting world. These software help you to ameliorate business’s financial accuracy and visibility so that valuable time can be spent on more important tasks by integrating all business applications at one place and enhancing productivity.
Odoo is one of the robust all-in-one business management software which fastens the accounting operations placing all necessary tools at one place. It’s highly customizable, integrates multiple applications, and accelerates with an open source nature! Its open-source nature empowers a thriving community resulting in a vast repository of community-contributed applications. It is the best solution provider for bill management.
TallyPrime is perfectly simple to use, versatile, and scalable. It offers solutions for accounting, project, inventory, invoice features, and much more. Additionally, it streamlines tax computations and compliance. But, it is restricted to other domains of businesses such as sales, marketing, HR, etc. Its customization is also limited. But, it is only limited to accounting and doesn’t cover other business domains such as sales, marketing, HR, etc.
Odoo offers top-notch modular architecture & fosters continuous development and adaptability. Businesses have the flexibility to use any one of its applications that aligns with their needs. It has an extremely user-friendly user interface, provides straightforward navigation and is comprehensive by nature.
On the other hand, TallyPrime is not easily adaptable and its learning curve is long. Business owners may find it difficult to understand and implement them. TallyPrime customization is limited and its supporting system still lags behind and data security is a big issue in it.
Záver
TallyPrime used to be the Accounting leader in the Indian market back in 2020. Today, it is still being used in India and has a strong user base. Although it offers a good features set, it has an outdated user interface as most of the customers expect cloud based solutions.
Odoo has always been the leading product worldwide in terms of usability and feature coverage, years ahead of other accounting softwares on these two values. But, Odoo’s Indian localisation was not perfectly mature before 2023. Now, it is on par with TallyPrime with all Indian features (GST filing, multi-branches, TDS, UPI, e Waybill, e-Invoicing,etc.).
Odoo has become the most complete and user friendly software for Indian accounting. Its user base is still small, as they have just started. But, the product is superior at a lower price (Odoo Accounting is even free on Odoo Online).
