Digital Tools

Making Accounting Simple and Easy

Thursday, May 24, 2018
Catherine Morin
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Management software developer Odoo just released a video promoting the latest version of its accounting application. This feature is described as a modern, dynamic and accessible tool that offers businesses a better way to work with customers and suppliers.

Odoo is a large collection of enterprise management applications and modules including CRM, sales, mass mailing, e-commerce, survey and live chat. The whole suite is designed to help users grow business. Odoo is an open-source software system, which means its source code is publicly available. Companies can therefore customize and modify components of the program to fit their specific needs.

The video describes the Odoo Accounting application as a friendly interface where users have no difficulties completing their financial tasks. Even though this program is designed to fit the needs of large businesses, it can also help smaller companies adopt it easily and quickly through a smooth user experience.

The company breaks the traditional image of accounting systems by presenting a simple, easy way to manage all financial activities in one place.   

Image Credit : Odoo

Odoo Accounting allows companies to create and send professional looking invoices to their customers with just a click. The system integrates with other Odoo modules such as sales, purchase and inventory to bill automatically based on the business' activities. Odoo can instantly send invoices by email or regular mail.

Companies can also get paid online, as the software connects directly to bank or Paypal accounts. Transactions are synchronized every hour, and reconciliation takes just a few minutes. Odoo can even send reminders to debtors. By creating and automating follow-ups, users can make sure they get paid on time.  

Odoo Accounting enables users to create detailed reports and graphs in any format they need. Businesses can produce their cash flow statements, balance sheets and earnings reports quickly without using  a specialized program.


Image Credit : Odoo

As mentioned in the video, Odoo Accounting is built to save businesses invaluable amounts of time, which helps them boost their productivity.

The mobile-friendly application allows users to check their accounts or perform transactions on the go.

Odoo was founded in 2005 and is based in Ramillies, Belgium. Its suite of management applications currently has 2 million users worldwide, ranging from small companies to very large ones.