Xero, QuickBooks vs Odoo ERP
Xero and QuickBooks are both standalone accounting software packages, commonly referred to as accounting software or accounting platforms.
Xero and QuickBooks are designed to cater to a broad range of businesses and accounting needs. They offer various features such as bookkeeping, invoicing, payroll, inventory management, and financial reporting, making them comprehensive solutions for managing finances in businesses of various sizes and industries.
The software has been designed to address the accounting needs of small businesses and does achieve this. However, if your small business needs a standalone Accounting app then Odoo's one free app forever surely makes it the best option for small businesses! All the accounting features you need, at no cost.
Cost
Odoo's "one free app forever" offer allows you to use a single app for free, making it an excellent, cost-effective choice for businesses primarily looking for accounting software.
Ease of Use
Odoo has a fast and modern user interface based on the popular Google Material Design trend. This gives the cloud-based module a modern and elegant user interface (UI) with top-notch usability.
Features
Odoo Accounting offers a wide range of features, draft invoice automation, bank synchronisation, AI-powered invoice automation, customer portals, reports, and integration with payment gateways.
Integrations
Odoo ERP is a suite of open-source business apps that enables intelligent business decision-making and integrates with numerous third-party applications, providing flexibility and expanding functionality.
Odoo is a modern accounting software.
It is so clean that you will experience work differently and avoid the frustration of slow interfaces, overflowing email inboxes, and endless data.
Experience zero data entry. Our advanced AI-powered invoice data capture has a 98% recognition rate. All you have to do is to validate the invoice.
Your mobile companion. Take pictures of your expenses, and let the Artificial Intelligence do the rest!
Speed matters. All operations are processed in less than 90 milliseconds, faster than the blink of an eye. It helps accountants do much more in less time.
Bank Synchronisation
Once set up, your bank statements will automatically synch every 4 hours. That makes reconciling your accounts as you go easy and reduces the time spent reconciling at the end of the month. Odoo’s AI algorithm will automatically reconcile lines as it learns about your transactions, suggesting matches if it is unsure.
Invoice Automation
Powerful AI algorithms that work hand in hand with humans. Receiving a vendor bill (be it by email, scan or API), and a draft bill will be created using OCR, AI and tailored templates. Allows the AI system to recognise the document layout and grab the appropriate data so that future invoices issued by this vendor are processed perfectly.
Multi Adaptations Support
Multi-company, multi-language, multi-currency, with the exchange rate updating daily. Accounting across multiple companies is possible with different journals, based on different companies, or by departments. Various reports and 'unrealised gains and losses' reports allow users to generate reevaluation journal entries.
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