Odoo vs. Quickbooks
Accounting may not be a glamorous or exciting job, but it is a crucial component of any business, whether that’s small, mid-sized or large. By understanding current finances and projecting financial outcomes, accountants uncover and hold some of the most valuable information in a company. As such, it’s important to equip accountants with the correct accounting tools so that they can effectively monitor the financial health of the business. Here we are going to compare two accounting software Odoo vs Quickbooks.
But which tool is the right tool?
Well, for starters, if you are running an SME business, you would probably want an accounting software that can be integrated with your current commercial solution. There are many options to choose from but our focus will be on Odoo and Quickbooks.
However, before diving into the pros and cons of each software, let’s understand what each does.
Made for small and medium sized businesses, Quickbooks was created in 1994 by a financial software company named Intuit. It has two versions: Enterprise and Online and it is supported by web-based platforms, as well as iPhone apps and Android apps. While the system itself is quite extensive, if we were to sum it up – Quickbooks is simply a complete accounting solution that allows users to manage their financial data in one platform, with real-time data, dashboards and reports.
On the other hand, Odoo (On-Demand Open Object) is a fully-integrated, open-source suite of business applications. It is available in three versions; two of which are local and the third is hosted on the cloud. Not only can you integrate a software solution like Quickbooks into Odoo – you can also customize any one of its thousands of apps/modules to best fit your company’s needs. So whether you are looking for an accounting module, or a manufacturing one – or even one for inventory, CRM or whatever else – you will find it on Odoo. If you cannot, you can simply grab a developer, express your requirements, and have a custom app that is ready to use – and is completely tailored to your needs. Simply put, Odoo is an all-in-one enterprise resource planning software solution created for all business types.
Odoo Accounting vs QuickBooks.
Now that we’ve established the difference between Quickbooks and Odoo, let’s take a closer look at Odoo Accounting. This module accomplishes the same thing as Quickbooks. So why did we highlight this fact? Well, as mentioned earlier, Odoo is more than just accounting. It comprises thousands of modules – which can not only be customized but also specific to your exact needs. On the other hand, Quickbooks is set on its capabilities and can only offer accounting solutions. So if you wanted to expand beyond accounting with Quickbooks, you would not be able to.
But let’s say – for argument’s sake – you only wanted accounting features for your company. Which of the two softwares delivers the best solution?
Odoo Accounting vs Quickbooks: Software Features
Frankly speaking, both softwares have similar ratings. When comparing their “ease of use” or “ease of set-up”, “quality of support” and whatnot – the rankings are high, and quite close to one another.
Everything from the general ledger, to accounts receivable and payable, to inventory, payroll, reporting and analytics, to the functionality of the actual platform, to budgeting and forecasting, cash flows, revenue and software integration – both software are neck and neck in terms of quality.
So then does it come down to preference?
There are two differentiating factors though; company size and customization. Odoo accounting works with SME businesses while Quicbooks is best for smaller businesses. When it comes to customization, as aforementioned – Odoo’s open-source feature allows you to build on and remove anything you may or may not need; optimizing the module to be tailor-made to your company’s needs.
Odoo Accounting vs Quickbooks: Pricing
When it comes to pricing, Quickbooks may have an edge on Odoo Accounting. The Odoo Accounting app would be $24/month/user, whereas Quickbooks would normally be $20/month.
Here’s the difference though, if you are looking for more than just the basics, Quickbooks’ pricing changes. Opting for the “Essentials” package could cost you $40/month, the “Plus” packages would be $70/month and the “Advanced” package would cost $150/month, wherein up to 25 users could be using the software.
The only leverage Odoo Accounting has is the fact that the module can be customized. This means that while Quickbooks offers different packages, Odoo’s one module can be tweaked by a developer to include anything that you feel is missing.
Odoo Accounting vs Quickbooks: Final Thoughts
Now let’s circle back to the biggest question at hand: what’s better – Odoo or Quickbooks?
Both softwares have their list of pros and cons to consider. Quickbooks may be easier to set up and use initially, but Odoo Accounting may need a business’ overall needs better. Odoo Accounting may be customizable to better fit a particular business, but Quickbooks’ focus is solely on accounting; allowing it to excel in certain features – something its competitor may not be able to do. When it comes to it, the best software solution is the one your company needs.
So the question then becomes, how do you know what software solution is right for you?
When in doubt, look to the market experts for help. At Bista Solutions, our team has the knowledge and experience to assess your company’s pain points in order to provide your company with its ideal solution. In fact, our ERP specialists know exactly what to look for and what to recommend based on the analysis. Our suggestions are industry-specific and tailored to your business’ needs.
With Odoo being economical, along with it being adaptable across all businesses, as well as across several industries, it is a good starting option for companies that want to centralize their accounting information so that it is easily accessible.
Bista Solutions has been named Odoo’s Best Partner USA in 2015, 2016 and 2018, and is considered to be the Best Odoo Gold Partner. This means we know our way around Odoo. However, we understand that Odoo Accounting may not be the right solution for every single company. That’s why we believe in full transparency – our team will never recommend a software solution that wouldn’t help your business succeed.
So if you’re intrigued or curious – or would simply like to learn more about Odoo Accounting vs. Quickbooks – let’s schedule your free consultation with us today. Allow us to clarify Odoo vs. Quickbooks while centralizing your business processes and contributing to your company’s growth by improving the overall efficiency. It is worth noting that the Bista team has had over 250+ successful implementations, so you know that with us you are in capable hands.