Odoo Accounting Reviews & Product Details

Odoo Accounting Overview

What is Odoo Accounting?

Odoo Accounting helps companies manage their daily accounting with the utmost ease and simplicity. They even offer a global view of the state of their business at any time. All financial activities can be managed in one single app, thanks to Odoo Accounting. Automation for primary day-to-day tasks is more than possible - it’s easier than ever! This app is synchronized with 24,000 banks, making it easier to link a payment with a statement, based on the transaction on your bank account. The reconciliation can also be done by importing the statement files (OFX, QIF, CSV, or Coda). And, with the new List view, users have greater visibility on document statuses and next activities. Accounting Automation To facilitate accounting management, Odoo automates a series of tasks, such as the creation of draft invoices based on the sales orders. The manager can validate the invoice if the sales order is correct, instead of creating a brand new one. Payment Odoo supports all of the main payment gateways: Authorize.net, Ingenico, Paypal, Adyen, etc. Also, it is possible for the company to use an automatic email system to remind customers to pay their delayed invoices. You can also have a clear view of your overdue payments (and the future ones) at any time. Apply “Automatic Transfers” to specific partners; making intercompany transactions easier than ever before. Our latest version has improved batch payment error reporting, as well. Also, Batch Payments are now compatible with SEPA credit transfers. Multi-Adaptations This app supports multi-currencies, and the exchange rate is updated daily. This feature works with multiple users, based on access rights. If you want to use Odoo for multiple companies, it is also possible with different journals, based on the different companies, or by departments. Performance Reports It is possible to analyze your performance through the various reports generated by this powerful app. Odoo integrates all the best practices KPIs (by default) to improve performance. The new design for financial reports in Odoo 14 shows the meaning of each section. There’s also new “Unrealized Gains and Losses” reports that allow users to generate reevaluation journal entries. On top of all that, Accounting is fully integrated with the Sales, Inventory, eCommerce, and Purchase apps, and the customer portal! It is, by far, the most seamless, user-friendly Accounting around.

Odoo Accounting Details
Languages Supported
Arabic, Bulgarian, Catalan, Czech, Danish, German, Greek, English, Estonian, Basque, Persian, Finnish, French, Gujarati, Hebrew, Hindi, Croatian, Hungarian, Indonesian, Italian, Japanese, Georgian, Central Khmer, Korean, Latvian, Lithuanian, Macedonian, Mongolian, Dutch, Norwegian, Polish, Portuguese, Romanian, Russian, Slovak, Slovenian, Spanish, Albanian, Serbian, Swedish, Telugu, Thai, Turkish, Ukrainian, Vietnamese, Chinese (Simplified)
Product Description

The accounting software for businesses of any size. Elegant, user friendly and full featured

How do you position yourself against your competitors?

Odoo Accounting helps you to manage your daily accounting easily and have a global view of the state of your business at any time. We offer a wide range of financial reports and tools like double-entry bookkeeping, accounts receivable & payable, multi-currency management, tax calculation, automatic bank feed import, accrual & cash basis methods and more.


Seller Details
Seller
Odoo
Company Website
Year Founded
2005
HQ Location
Brussels, Belgium
Twitter
@Odoo
41,453 Twitter followers
LinkedIn® Page
www.linkedin.com
1,225 employees on LinkedIn®
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Odoo Accounting Reviews

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Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

What I like best is that in Odoo, everything is easy and smooth. Any task that I have to do, Odoo have a simple and easy way for me to do it. Review collected by and hosted on G2.com.

What do you dislike?

There's not much that I dislike...

One point that I found frustrating is that since every year Odoo releases a new version with new awesome features and that it always take 6 to 12 months to upgrade our DB to this new version, then I always feel like I'm missing on these new features and that my work would be so much easier with them...

Not a "real" bad point actually, just a bit of frustration. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Don't hesitate, go for it! Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Since it is so easy for me to handle all the accounting in Odoo, now the work of accoutant is limited to the bare minimum which saves me some money. In addition, in the past, all my documents and accounts would end up at my accountant place and I would have a very limited view on my accounting. Now I have everything with, on my computer, on my phone, anywhere, anytime. Review collected by and hosted on G2.com.

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President
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

I am not an accountant and find the the Accounting app easy to use. The landing page provides a quick snapshot of any accounting activities that need to be completed. This includes both invoices awaiting payments and bills to vendors that need to be paid. It connects to my bank accounts which makes it easy to reconcile all of my accounts. All of the standard reports and audit capabilities are built in. Review collected by and hosted on G2.com.

What do you dislike?

Because I am not an accountant, it would have been helpful to have support for setting up Chart of Accounts and other accounting settings. To be sure this is not really an issue with the Accounting app. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

The reason I started with the Odoo platform was because I wanted a single application that supported my business need. I create quotes for customers that turn into orders. I order inventory from vendors that drop ship to customers. I send invoices to customers to pay for the products and services. The Odoo platform does this for me with a consistent user experience. The Accounting app matches all of the events to ensure every penny is accounted for. And it does it for far less than many comparable platforms. Review collected by and hosted on G2.com.

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Open Discussions in Odoo Accounting
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Odoo Accounting is very easy to use, user friendly. In few clics I have my invoices recorded and my balances done. The reconciliation process do the work very easy, In my last reconciliation I spent in average 17 seconds per transaction. Review collected by and hosted on G2.com.

What do you dislike?

I have to pay for scan PDF's invoices and to autocomplete companies information Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Buy this module because it is easy of implement and use, you will find it usefull to have on time reports, graphics, among others. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

I do not need auxiliars to close the month in the next 3 days of the month close period. I can do it by my self as the Accountant because Odoo does the hard steps. Review collected by and hosted on G2.com.

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Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Every single detail can be searched one way or another, you can find any transaction out of millions that you are looking for if you have the proper information. Easy to use invoicing process (both from customer and vendors). Reports are functional and easy to use. Review collected by and hosted on G2.com.

What do you dislike?

A few things in the accounting portion seem to be duplicated a few times. Often confusing terms are being used (USA Accounting) due to the product being programmed and written in Europe. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

With all odoo products, be careful setting up the base information, such as the chart of accounts, accounting methods, taxes, etc. They can cause issues which you may not notice until they become a large hassle to fix. Take care and think about hiring a consultant or third party to assist in proper setup. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Solved all of our accounting issues we had with our previous system, much easier to find all the information we needs to analyze and problem solve. Review collected by and hosted on G2.com.

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Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2
What do you like best?

The user interface is very clean and easy to use. I've found a few other accounting software packages have very obtuse interfaces with lots of workarounds. Odoo is easy to use and very intuitive. I also like how it integrates with other apps. I have it connected to my ecommerce store with odoo, and all of the bookkeeping work is automated. I have to use this software very little because so much of it is automated. Review collected by and hosted on G2.com.

What do you dislike?

Sometimes matching transactions to your bank account can be a bit tedious. Our credit card deposits come in all as one batch, and sometimes it can be tricky if there are several transactions going into that batch. With how much time it saves elsewhere though, the software is still great. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We are keeping our books clean and automating a lot of our accounting. Odoo accounting has saved us a lot of time. Review collected by and hosted on G2.com.

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Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

I believe the best feature about this is the fact that one can run accounting analytics without much of a hassle. For someone who does not have the strongest accounting background with GAAP, this app in Odoo has been fairly easy to use after a couple hours of tech training with Odoo staff. Review collected by and hosted on G2.com.

What do you dislike?

I slightly dislike that we had to reach out to Odoo and pay to assist in my team switching from Quickbooks to Odoo Accounting. Sure, they have some online documentation that assists in BASIC accounting, but for complex SKU accounting, invoicing, trial balance, and profit and loss statements you truly do need a CR Rep from Odoo themselves to custom code certain things through Studio to get the job done.

That being said, it is WORTH the hours after it is done. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We are solving the problems of being able to accurately track our profit per project and even being able to accurately record our CCA when doing some further analysis. Review collected by and hosted on G2.com.

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Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Integration with the rest of Odoo (Sales and Purchase)

Automated Costing

Standard Reporting Review collected by and hosted on G2.com.

What do you dislike?

I am not a day to day user, but mainly the team would like matching to be better. We believe that from v11 to v12 the matching functionality was removed/changed.

Other than that, the system works very well.

Cost roll ups for subcontract items is manual Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Use automated costing.

Be aware that subcontract processes may impact costs

Matching does not work for us in v12. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Mainly costing. We were using several methods in our old system and always had issues. We changed to automated average costing in Odoo about 3 months ago and have not had any issues. (Except for costing of items with subcontracted processes. We understand that this may have been addressed in v13). Review collected by and hosted on G2.com.

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Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

The method of apportionment of credits and debits (asset types and deferred revenue types) over a user-defined period of time. Review collected by and hosted on G2.com.

What do you dislike?

The integration to Expenses is too basic. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Pricing is the biggest difference between Odoo and similar competitors' products. Your choice of software is dependant on your industry and the way you have your entities setup. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Cloud accounting system that can be accessed from many staff in so many locations. We can get accounting tasks done. Review collected by and hosted on G2.com.

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AF
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Everything flows where it needs to. The overview is comprehensive and denotes to-do items with a hyperlink for simple completion. Journal entries are easy to edit/create. Adding bills and creating invoices and the interconnections between other Odoo apps, has been very pleasant. Review collected by and hosted on G2.com.

What do you dislike?

Financial reports (P&L, the Balance Sheet, and the GL) are not really editable. Adding columns is nearly impossible, although adding rows to further refine numbers is relatively simple. Trying to allow certain people to view only specific data has been difficult as well.

The reconciliation process may be smooth for some, but it has not been our favorite. We don't love the check printing options either. Altering the format of the check is difficult, and multiple payments to a single vendor at a single address do not automatically combine into a single check, but it can be done manually with little effort. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

It's easy to use for those of us who are not accountants and maintains everything well. Our accountant does complain about some of the ways it processes things (reconciliations), but does like the smoothness of bill creation and payment application on invoices. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Clarity of information displayed in the custom reports has been helpful. They also allow for a multitude of different views and switch quickly between them. Review collected by and hosted on G2.com.

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Director of Customer Support
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2 on behalf of the seller
What do you like best?

This is quite possibly the most elegant piece of ERP software I have ever seen. The design is perfection. My understanding and experience is that all the modules basically interact via API. Accordingly, you can mount ANY piece of software you want in the structure without concern. Review collected by and hosted on G2.com.

What do you dislike?

Please understand we were a paying Enterprise customer - not the freebie Community Edition. The support we received was atrocious. If there is any modification to the software, which they encourage, you are done with support. Third-party software basically nullifies support as they will want you to REMOVE any 3rd party software if they decide to troubleshoot an issue. There is NO timely support. Every response you get takes days. Woe unto you if you forget to include an obscure detail because you will be asked for it and that resets the "days" clock.

When the ultimate resolution of a series of problems with the software was to upgrade a version - WHICH ODOO ALONE CAN DO - Odoo reported to us that they could not update the version, effectively leaving us stuck on an old version with problems with absolutely no resolution. Only Odoo can upgrade you so we were effectively stuck. The Windows equivalent of saying that you cannot upgrade from Windows 98 - you can probably just start over.

I reached out every way possible to Fabien Pinckaers (including Tweeting) to help - there was a flurry of attention and then it all just died.

A few months before the renewal was up, I got a call from Odoo. Some poor newby college kid wanting to get some quotes on how happy we were. After telling him the situation, his comment was something along the lines of, "Yeah, upper management just doesn't care about the clients." His words - not mine.

Ultimately, we wasted about $20k worth of capital and about 18 months learning these realities. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

The actual software is great. However, only proceed if an entity other than Odoo is going to support you in total. Avoid Odoo.sh as they have it so locked down much of their software cannot run properly on it. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

If it had worked, our platform would be in once place.

The only benefit we realized is software choosing wisdom. Review collected by and hosted on G2.com.

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Digital Marketing Manager
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Organic
Business partner of the seller or seller's competitor, not included in G2 scores.
What do you like best?

Odoo has wide range of applications available. Also very much customizable. Odoo implementations have maximum success rate as well as easy to use. Here is detailed explained link to Odoo accounting apps https://www.bistasolutions.com/resources/blogs/odoo-accounting-application/ Review collected by and hosted on G2.com.

What do you dislike?

Its very complex. Not really have anything to dislike odoo accounting. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

If you really want to keep track of your accounts and want to automate the process and reduce human intervention odoo accounting is the best solution Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We are using it for our daily bases accounting as well as for future forecasting and annual reports like p/L etc. Review collected by and hosted on G2.com.

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AE
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Accountants can share information in Contact and some other modules with sales and operation teams. Review collected by and hosted on G2.com.

What do you dislike?

It takes professional IT engineers to make lots of setting and configuration on the background before you can use some of its features, for example, sales invoice, remittance advice, displaying attachments on invoice/bill pages, etc. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Please do make sure the system has been properly set up and configured before you start to use it. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

The good part about Odoo Accounting is that it connects to Odoo CRM modules so that accountants can share information with sales and operation team in the system. Review collected by and hosted on G2.com.

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Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

It is a very easy system and its modules are complete Review collected by and hosted on G2.com.

What do you dislike?

The reports cannot be analyzed by a specific account, they are generated in a general way Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

I resolve that I keep all my records up to date and I can generate reports at any time and know the real situation of my accounting Review collected by and hosted on G2.com.

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V.P. Sales/Marketing
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

The simplicity of the software, it does what it's supposed to do. Review collected by and hosted on G2.com.

What do you dislike?

It does lack some ability to customize but this prevents you from practicing bad accounting habits. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

we do all our accounting through odoo it has been really seamless with the odoo sales app. Review collected by and hosted on G2.com.

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AI
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Lots of reports. The workflow of each transaction from the draft state up to the paid state is really good. Review collected by and hosted on G2.com.

What do you dislike?

Too many fields which I think can be more simplified. The way the transactions are listed while reconciling bank entries is quite confusing and cumbersome. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Our transition to paperless accounting is our target to accomplish this year and it would be very beneficial to us because we will save a lot of time and effort obviously once we get used to it. Review collected by and hosted on G2.com.

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Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2 on behalf of the seller
What do you like best?

me gusta que se en línea y que los módulos sean independientes con resultados enlazados Review collected by and hosted on G2.com.

What do you dislike?

Que los procesos no vienen definidos y se deban programar a los gustos del usuario, eso da problema porque el desarrollo es mas largo, si ya viniera condicionado por las practicas contables generales sería mas cómoda la implementación Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Poner atención en la carga de la estructura, si se carga bien lo informes son funcionales Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Enlace de todas las operaciones, desde presupuesto hasta pago del trabajo ejecutado Review collected by and hosted on G2.com.

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Gerente de Ventas
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Starting with a dashboard, show me everything my team need in order to have a great working flow. Review collected by and hosted on G2.com.

What do you dislike?

I am in México and the sales report are in my currency, eved my main transactions are in USD Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

have all in one single system Review collected by and hosted on G2.com.

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Enterprise Resources Planning Specialist
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2
Business partner of the seller or seller's competitor, not included in G2 scores.
What do you like best?

invoicing , reporting and reconciliation Review collected by and hosted on G2.com.

What do you dislike?

maybe we need to add some collection management integrated with accounting to track our receivables doing the using invoicing is not enough Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

making live easier and faster Review collected by and hosted on G2.com.

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Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

THE PRICE AND FUNCTIONALITIES, THE FACT THAT IT WORKS FOR MEXICO INVOICING Review collected by and hosted on G2.com.

What do you dislike?

SOMETIMES IT'S DIFFICULT TO CUSTOMIZE OR CONFIGURE SOME OPTIONS Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

TAKE CONTROL OF MY COMPANY ACCOUNTING, SAVE TIME DOING PAPEWORK AND ADMIN WORK Review collected by and hosted on G2.com.

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Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

It's nice to have a centralized and integrated accounting hub - previously all of our accounting data was spread out or on paper. Review collected by and hosted on G2.com.

What do you dislike?

If you can call this a dislike, convincing colleagues to convert their separate accounting entries to the unified Odoo Accounting entries. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We have a much clearer view of Max-Gain's accounting status. Visibility of our sales, purchases, stock valuation, etc. all in one place has been a game changer. Review collected by and hosted on G2.com.

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Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2 on behalf of the seller
What do you like best?

I like that it is easy to understand and use and that it can be accommodated to my business Review collected by and hosted on G2.com.

What do you dislike?

I don't like that hy some complex to configure Review collected by and hosted on G2.com.

Recommendations to others considering the product:

its good and ease, you just have to try to adopt it how you need Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

helps to solve the ease and speed with which I need a file or some information, it is easy to find and understand Review collected by and hosted on G2.com.

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UI
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

modules easy to use and undersand for accounting process. we have used accounting module since 5 years. Review collected by and hosted on G2.com.

What do you dislike?

changes between versions make hard upgrade process. There is few documentation and functional use cases available Review collected by and hosted on G2.com.

Recommendations to others considering the product:

to improve support for regional localizations Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

internal accounting for our firm. we can track every single operation in our company Review collected by and hosted on G2.com.

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AP
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Studio

Reset to draft feature

Export to Excel

Easy to teach yourself

Easy and quick setup-implementation

Flexible subscription based software

Nice apps Review collected by and hosted on G2.com.

What do you dislike?

Assets in Accounting app was not developed by someone who has been an accountant

Technical support is useless

Lack of knowlegeable consultants (beyond literal technical responses) internal/external for the implementation; learning was trial and error plus Youtube. External consultants recommended were terrible. Our sales account manager is an idiot and not very responsive. Our project manager is very nice and has technical knowledge but lacks practical experience using ERPs. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

None Review collected by and hosted on G2.com.

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CC
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

All other Odoo modules are 100% integrated with accounting, any change in the modules it is reflected in Accounting Review collected by and hosted on G2.com.

What do you dislike?

Some Mexican accounting functionalities are still WIP Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Do a 100% verification of all thge fiscal requirements Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Accounting process is much faster, allowing to centralize accounting services in one office Review collected by and hosted on G2.com.

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Chief Financial Officer
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Invitation from G2 on behalf of the seller
What do you like best?

I like that the accounting system interacts with our sales side, and CRM, and all other apps. We moved to the system to consolidate three other previous software programs. Review collected by and hosted on G2.com.

What do you dislike?

Parts of the system are quirky. The program was developed by computer techs, not by accountants. So parts of the functionality doesn’t function like other accounting software would. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Odoo accounting integrates with our sales, inventory, price list, everything. Whereas before we had multiple systems which didn’t speak to each other. This has saved us an immense amount of time! Review collected by and hosted on G2.com.

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