Finding the perfect accounting software for your business can be like striking gold—accessing the perfect capabilities and capacities (for the right price) is something most SME business owners only dream of.

Accounting is the crucial part of any commercial business; therefore, every business requires accountant or simple accounting software to manage their business effectively. Accounting software is a class of computer programs that enable you to manage your business’s financial transactions.Software development companies have introduced simple accounting software with GST ready feature to help businesses in completing their tax obligations successfully. It completes most of the bookkeeping process of the business, generates reports and manages GST calculations.

Accounting software is very essential for tracking the success of your business. It allows users to store all the information that gives a clear picture of the business financial health. The software can easily manage book keeping and allows monitoring costs and revenues to maximize profit margins.

Today there are lots of accounting softwares are available in market but we will talk about most emerging and trustworthy accounting solutions which are Odoo and Quickbooks. Let’s have a basic idea of both of these softwares.

Odoo:

Odoo (formerly OpenERP) is a suite of open source business apps that help in managing businesses and organizations using collection of business-related applications and modules like CRM, Sales management, E-commerce, Warehouse management, Purchase management, Accounting suit, Manufacturing management, HRMS etc.. Altogether these basic modules called as Enterprise Resource Planning software. There are three versions of Odoo, among which one is hosted on cloud.

Odoo comprises over 30 main modules that are regularly updated. In addition, more than 16,000 third-party apps/plug-ins are available in its app store. Because it’s a modular system, customers can start with a subset of tools and add modules as needed.

Odoo is available in the cloud or on-premise and can be used by businesses of all sizes. Being open source, Odoo software is highly customizable. Developers can access the code and modify it to make changes in the modules based on an organization’s requirements. Odoo is a perfect fit for Small-to-medium sized organizations.

Quickbooks:

QuickBooks offers a wide range of types of accounting software that will cater to the needs of businesses of different shapes, sizes, industries, and entities. This accounting software will be most ideal for freelancers and independent contractors.

Quickbooks comes up with two versions called Desktop and Online.The Enterprise version is available online via additional hosting or locally. One can avail online version of it from these 3 plans: Simple Start, Essential or Plus.

 

 
Odoo List of features   Quickbooks List of features
  • Website Edition
  • Actionable Insights
  • Accounting
  • Automated Online Banking
  • CRM
  • Banking Data Synchronization
  • MRP
  • Create Manage Invoices
  • E-Commerce
  • Create Custome Invoices
  • eSignature
  • Create estimates
  • Inventory Management
  • Dashboard and Feeds
  • Project Management
  • Enter and manage bills
  • Multi-Language Support
  • Multiple Supported Countries
  • Access Per Screen
  • Alerts for Contract Renewal
  • Credit Cards & PayPal Payments supported
Integration Integration
Odoo comes in integration with lots of applications like:

  • Ebay
  • DHL
  • Ups
Integration can be done with other Quickbook applications like Quickbook Payment and Payroll. It also offers certain add-ons.

 

 

 

User-friendly Odoo accounting is too simple to handle even by a non-commerce.