Odoo Accounting is a modern, fully integrated solution designed to help businesses of all sizes manage their finances more effectively.
With automation at its core and seamless integration across sales, purchases, inventory, and payroll, Odoo Accounting delivers everything you need to streamline workflows, reduce errors, and gain real-time insight into your financial health.
This guide walks through its core features, showing how they can transform the way your company handles accounting.
Streamline Invoicing and Payment Tracking
Odoo Accounting simplifies both customer and vendor transactions with automated invoice generation linked directly to sales orders, timesheets, and subscriptions. Branded, customizable invoices can be created in just a few clicks, and credit limits can be enforced through system alerts. For vendors, Odoo supports quick conversion of bills into credit notes and provides detailed audit trails for every transaction.
The platform’s robust ledger capabilities allow you to monitor aged receivables and payables in real time. Partner-ledger reports and drill-down aged balances ensure complete transparency. With double-entry bookkeeping and automatic posting, every invoice or payment flows seamlessly through to your financial statements.
These capabilities reduce manual work, eliminate common errors, and provide a consistent, accurate view of your cash flow and liabilities—making compliance and financial oversight effortless.
Enhance Customer Experience with Smart Payment Options
Odoo empowers customers with a range of convenient, secure payment methods including PayPal, Stripe, Adyen, and SEPA direct debits. QR codes on invoices simplify mobile payments, while the integrated Customer Portal lets clients view, download, and pay invoices, manage subscriptions, and communicate—all in one place.
Automated payment follow-ups reduce aging receivables. Users can configure reminders via email, SMS, or postal letters, tailored by overdue duration and customer type. This leads to improved collection rates without straining client relationships.
With integrated digital payments and real-time updates, Odoo ensures your cash position is continuously optimized while delivering a frictionless payment experience to your clients.
Automate Supplier Bill Payments with Ease
Managing supplier payments becomes highly efficient with Odoo's batch processing and automation. The system suggests which bills to pay based on due dates and available cash. You can automate SEPA Credit Transfers or print checks in bulk, minimizing manual entry and delays.
Odoo groups payments when applicable, helping simplify reconciliation and ensure traceability. The platform also flags discrepancies or missing documents to avoid late fees or duplicate payments.
These tools are particularly useful for businesses with multiple suppliers and frequent transactions, helping finance teams stay organized and accurate with minimal effort.
Automate Bank Feeds and Reconciliation
Odoo integrates directly with banking APIs via Salt Edge and Ponto to automatically pull in bank statements. Once imported, a smart AI engine suggests matches between bank lines and recorded transactions, offering up to 95% accuracy on reconciliations.
Recurring transactions can use saved templates to further automate reconciliation. The system flags unmatched or suspicious entries for manual review, ensuring every item is accounted for properly.
Daily cash operations can also be managed through Odoo's cash register feature, tracking inflows and outflows and reconciling physical cash with digital records at day-end.
Manage Fixed Assets and Revenue Recognition
With Odoo, fixed assets are tracked from acquisition to disposal. The system automatically calculates depreciation based on configured schedules and posts journal entries without user intervention.
For businesses with long-term contracts or prepaid expenses, deferred revenue and expense management ensures income and costs are recognized over time, aligned with actual service periods. Reports break down both recognized and unrecognized portions by contract or product.
This functionality not only supports compliance with IFRS/GAAP standards but also enhances your financial visibility and long-term planning capabilities.
Operate Globally with Multi-Currency and Multi-Company Support
Odoo Accounting supports operations across multiple companies and currencies. You can set up intercompany rules for automated billing and reconciliation, as well as consolidated reports for shared parent entities.
Currency exchange rates update daily from trusted providers. Gains and losses from currency fluctuations are automatically posted, ensuring accuracy in profit margins and financial statements.
With preconfigured localization for over 80 countries, Odoo handles tax rules, chart of accounts, and government filings—including e-invoicing standards like Peppol—right out of the box.
Handle Taxes and Legal Reporting with Confidence
Odoo's flexible tax engine handles every major requirement: tax-on-tax, partial exemption, included vs. excluded pricing, and regional variants. It supports both cash and accrual basis reporting and can auto-fill tax returns based on posted entries.
Legal reports like Profit & Loss, Balance Sheet, Trial Balance, and Tax Audit Trails are generated in real time. You can drill into report lines for source transactions, annotate reports, and export them in multiple formats.
This comprehensive reporting environment ensures audit-readiness, transparency, and full compliance with local financial regulations.
Track Budgets and Analytic Accounts in Detail
Odoo's analytic accounting allows multi-dimensional tagging of costs and revenues—by project, department, or client. Users can create hierarchies, assign rules for automatic tag distribution, and generate specific profitability reports.
The budget module helps you define and monitor spending targets across departments or projects. Alerts and visual comparisons between planned and actual costs support proactive financial control.
These features are especially valuable for service-based or project-driven businesses that require granular cost tracking and accountability.
Boost Productivity Through Smart Automation
Recurring journal entries like rent, payroll accruals, or depreciation can be set to post automatically, freeing your team from repetitive tasks. Odoo’s smart suggestion engine also learns from previous edits to improve future invoice and payment matching.
For accountants, the dedicated fiduciary mode provides faster data entry tools, customizable journal sequences, and batch entry capabilities. Odoo 19 improves this further with enhanced mobile interfaces and global full-text search in charts of accounts.
These productivity features ensure your finance team can focus on strategic tasks instead of routine data entry.
Enjoy Seamless Integration with the Odoo Ecosystem
Odoo’s accounting module works natively with over 50 other business apps, including Sales, Purchase, Inventory, Manufacturing, Projects, Payroll, and CRM. This tight integration means all financial implications—stock valuations, employee expenses, supplier invoices—are posted automatically.
Inventory transactions update the general ledger in real time based on valuation methods like FIFO or average cost. Payroll runs post salaries, taxes, and benefits directly to accounts. Every department feeds accounting without extra effort.
This ecosystem-wide linkage not only ensures data consistency but also enables more holistic business intelligence and forecasting.
Explore Odoo Accounting with doo FINANCE
Odoo Accounting offers unmatched value for businesses of all sizes. At just EUR 19.90 per user/month, you get access to all 50+ integrated apps—not just accounting. This enables you to run your entire business from one powerful platform.
And with our expertise at doo FINANCE, you gain a trusted partner who can configure, customize, and optimize Odoo to meet your exact needs. We specialize in financial implementations and understand how to turn accounting challenges into streamlined workflows.
Contact Us today to see how we can help you transform your finance operations with Odoo Accounting.
