Odoo vs QuickBooks: Which is the Best for Your Business?

Following our comparison of Odoo to Xero, this article will explore how Odoo stacks up against QuickBooks, another major player in the accounting software market. Both platforms offer robust features designed to streamline financial management for businesses, but they cater to different needs and preferences.

Introduction to Odoo Accounting and QuickBooks

Odoo Accountingis a component of the Odoo suite, an extensive open-source enterprise resource planning (ERP) system that encompasses a broad array of business applications, including CRM, eCommerce, inventory, and more. Designed to integrate seamlessly with other Odoo applications, it offers a unified solution for businesses in search of an all-encompassing ERP system.

QuickBooks, conversely, is a specialised accounting software primarily aimed at small to medium-sized businesses. It is known for its ease of use, comprehensive financial reporting, and a strong focus on accounting functionalities, making it a popular choice for businesses seeking a dedicated accounting solution.

Feature Comparison

General Accounting

• Supported Countries: Odoo supports over 80 countries, offering a more global solution compared to QuickBooks, which is more limited in this aspect.
• Access Rights: Odoo allows for customisable validation steps, providing more flexibility in managing access rights within the system.
• Third-Party Integration: Both platforms offer third-party integration capabilities, though Odoo's open-source nature potentially offers a wider range of integrations.

Accounts Receivable

Odoo and QuickBooks both offer advanced features for managing customer invoices, including advanced taxes, multi-step payment terms, and outstanding payments reconciliation. However, Odoo stands out with its ability to batch send invoices by email, post invoices by standard mail, and its incorporation of email discussion as attachments, offering a more comprehensive solution in this area.

Accounts Payable and Bank & Cash

Both systems provide functionalities for managing vendor bills and payments, with Odoo offering additional features like billing control and fleet bills management. In terms of bank and cash management, Odoo supports more advanced features like import statements and automated currencies rate update, indicating a more robust solution for financial management.

Extras

Odoo excels in offering additional functionalities such as analytic accounting, budgeting, payroll, and valuation, showcasing its strength as a comprehensive ERP system beyond just accounting.

Usability, Pricing & Conditions

• User Interface: Odoo is praised for its intuitive interfaces and ease of setup, making it suitable for users with diverse technical backgrounds. QuickBooks, while offering a specialised accounting solution, is considered less user-friendly and can be challenging to set up.
• Pricing: Odoo now employs a unified subscription model, charging a flat rate per user per month for access to its entire suite of apps (Standard subscription). This streamlined approach can offer value to businesses seeking comprehensive ERP solutions with the flexibility to scale. In contrast, QuickBooks maintains its subscription model focused on delivering core accounting services, catering to those in need of a more specialised financial management tool without the extensive ERP features.
• User Satisfaction: Odoo and QuickBooks both have strong user satisfaction ratings, with Odoo slightly leading in some areas. This reflects the high quality of both platforms, though preferences may vary based on specific business needs.

Based on the detailed comparisons provided by Odoo, here's a comparison table highlighting the key features, usability, and conditions between Odoo and QuickBooks.

GENERAL ACCOUNTING

General Scope	Odoo	QuickBooks
Multi-currency	Yes	Yes
Consolidation	Yes	No
Multi-User	Yes	Yes
Multiple Journals	Yes	No
Number of Languages	85	5
Supported Countries	80+	1

Access Rights	Odoo	QuickBooks
Access Rights per Screen	Yes	Yes
Access Rights per Field	Yes	Yes
Customizable Validation Steps	Yes	No

Third Party Integration	Odoo	QuickBooks
Availability of an API	Yes	Yes
Spreadsheet Integration	Yes	No
Import: Excel or CSV	Yes	Yes
Expert: Excel or CSV	Yes	Yes
Customer Portal	Yes	Yes

 

ACCOUNTS RECEIVABLE 

Customer Invoice	Odoo	QuickBooks
Proforma Invoices	Yes	Yes
Multiple Taxes per Line	Yes	No
Advanced Taxes (fixed, tax of taxes, etc.)	Yes	No
Discounts	Yes	Yes
Pricelists	Yes	Yes
Multi-Step Payments Terms	Yes	No
Cash Discounts	Yes	No
Outstanding Payments Reconciliation	Yes	Yes
Emails Discussion as Attachment	Yes	No
Configurable Email Templates	Yes	Yes

Send Invoices	Odoo	QuickBooks
Generate a PDF Invoice	Yes	Yes
Batch Send Invoices by Email	Yes	No
Post Invoices by Standard Mail	Yes	Yes

Online Payments	Odoo	QuickBooks
Credit Cards	Yes	Yes
PayPal	Yes	Yes
SEPA Direct Debit	Yes	No

Customer Statements	Odoo	QuickBooks
Aged Receivable Balance	Yes	Yes
Customer Statements	Yes	Yes
Automated Follow-up Letters	Yes	No
Automated Follow-up Actions	Yes	Yes
Unpaid Fees and Penalties	Yes	Yes
Third-Party Debits Recovery	No	No

Recurring Revenues	Odoo	QuickBooks
Automated Recurring Invoices	Yes	Yes
Subscription Upsell / Renewal	Yes	Yes
KPIs: Churn, MRR, Upsells, etc	Yes	No
Alerts for Contract Renewal	Yes	No

Miscellaneous	Odoo	QuickBooks
Automated COGS Entries	Yes	Yes
Automated Deferred Revenue	Yes	No

ACCOUNTS PAYABLE

Vendor Bills	Odoo	QuickBooks
Billing Control (Purchase Orders / Receptions)	Yes	Yes
Multiple Taxes per Line	Yes	No
Purchase Agreements	Yes	No
Multi-Step Payment Terms	Yes	No
Fleet Bills & Disallow Expenses	Yes	No
Peppol / UBL Support	Yes	No

Artificial Intelligence	Odoo	QuickBooks
Bills OCR Recognition	Yes	Yes
Learning Intelligence	Yes	No
Payment Data from OCR	Yes	No
Real Time OCR (<10 minutes)	Yes	No

Vendor Payments	Odoo	QuickBooks
Aged Payable Report	Yes	Yes
Print Checks	Yes	Yes
Automate Wire Transfer (SEPA)	Yes	No
ACH Transfers	Yes	No

Expenses	Odoo	QuickBooks
Employee Expenses Report	Yes	No
Expenses Validation Flow	Yes	No
Mobile App for Expenses	Yes	Yes

Miscellaneous	Odoo	QuickBooks
Assets Management	Yes	Yes

Bank & Cash	Odoo	QuickBooks
Bank Interfaces	Yes	Yes
Import Statements: QIF	Yes	Yes
Import Statements: OFX	Yes	Yes
Import Statements: CSV	Yes	Yes
Import Statements: Coda	Yes	No
Import Statements: Camt.053	Yes	No
Deposit Tickets	Yes	Yes

Efficiency	Odoo	QuickBooks
Reconcile while Matching	Yes	Yes
Misc. Operations while Matching	Yes	Yes
Automated Rules	Yes	Yes
Bank Reconciliation Reports	Yes	Yes
Automated Currencies Rate Update	Yes	Yes

 

EXTRAS

Analytic Accounting / Grouping	Odoo	QuickBooks
Analytic / Cost Accounting	Yes	Yes
Multi-Level Analytic Accounting	Yes	No
Multiple Plans	Yes	No

Budgets	Odoo	QuickBooks
General Budgets	Yes	Yes
Analytic Budgets	Yes	Yes

Payroll	Odoo	QuickBooks
Payroll	Yes	Yes

Valuation	Odoo	QuickBooks
Standard Price	Yes	Yes
Average Price	Yes	Yes
FIFO	Yes	No
Perpetual Inventory Valuation	Yes	No

REPORTING

Legal Statements	Odoo	QuickBooks
Profit & Loss	Yes	Yes
Balance Sheet	Yes	Yes
Cashflow Statement	Yes	Yes
General Ledger	Yes	Yes
Tax Reports	Yes	Yes
Tax Audit Report	Yes	Yes

Reports	Odoo	QuickBooks
Pivot Table on Multiple Dimensions	Yes	Yes
Customizable Reports	Yes	Yes
Customizable Dashboards	Yes	Yes
Annotate Reports	Yes	No
Customizable KPI’s	Yes	No
Predefined Executive Summary	Yes	Yes
Perpetual Fiscal Year Closing	Yes	No

USABILITY, PRICING AND CONDITIONS

UI	Odoo	QuickBooks
Full Web Interface	Yes	Yes
Mobile App	Yes	Yes
Android App	Yes	Yes
iPhone App	Yes	Yes

 

Marketplace	Odoo	QuickBooks
App Store / Add-ons	Yes	Yes

 

Other (integrated) solutions	Odoo	QuickBooks
eCommerce	Yes	No
Expenses	Yes	Yes
Inventory	Yes	Yes
Manufacturing	Yes	No
Operations (project, timesheet, etc.)	Yes	Yes
Human Resources	Yes	No
Document Management	Yes	No
Subscriptions	Yes	No
Point of Sale	Yes	Yes
Purchase	Yes	Yes
Sales	Yes	Yes

Subjective Ratings	Odoo	QuickBooks
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	Odoo	QuickBooks
Monthly Pricing	Free	$27
Number of Users	Unlimited	3
Contract Duration	Monthly & Yearly	Yearly
Free Trial	Yes	Yes
User Satisfaction	Odoo	QuickBooks
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

Both Odoo Accounting and QuickBooks offer robust solutions tailored to different business needs. Odoo stands out for businesses seeking an integrated ERP system with comprehensive accounting and beyond, while QuickBooks is ideal for those prioritising a specialised, user-friendly accounting software. The choice between them should be guided by your specific requirements, including the need for customization, scalability, and ease of use.