General ledger
Custom COA, automated entries, audit trail.
The numbers, finally trustworthy.
Automated bank feeds, ML-assisted reconciliation, consolidated reporting across entities and currencies — close the books in 4-5 days, without overtime.
Why month-end close takes 14 days — and how to get it to 4.
Most controllers have a painful close because finance lives in patchwork — transactions in NetSuite or QuickBooks, inter-company in spreadsheets, FX in Excel, consolidation in Hyperion. Two weeks reconciling before producing a report.
Odoo Accounting eliminates most of that. Consolidation, inter-company, FX, accruals, and revenue recognition live in one system. Typical close cycle drops from 10-14 days to 4-5 within two quarters — not faster work, just eliminated reconciliation.
— Capabilities
Full financial management.
Bank reconciliation
Bank feeds with ML-assisted matching.
Multi-currency
Real-time FX, unrealized gain/loss, reporting.
Multi-entity
Inter-company, eliminations, consolidated reporting.
Tax compliance
Sales tax, VAT, GST per jurisdiction.
Audit & controls
Approvals, SoD, audit log on every entry.
Close cycle
Shorten your close by days, not hours.
Clients cut month-end from 10+ days to 4-5 post-go-live. Automated accruals, recurring entries, and fixed-asset schedules handle the boring work — your team reviews exceptions instead of re-keying.
- Automated recurring entries and accruals on schedules
- Fixed asset schedules with multiple depreciation methods
- Lease accounting (ASC 842 / IFRS 16) with ROU tracking
- Consolidated reporting in any currency, one click
— Real numbers
What your finance team gets back.
14 → 4 days
Month-end close
4-entity services group with automated eliminations.
85%
Touchless bank rec
Distributor, 2,500 monthly transactions, ML-matched.
$40K/yr
Tool consolidation
Manufacturer retired QuickBooks + FloQast + Excel.
— Honest fit
Who this is for.
Strong fit
- Mid-market companies outgrowing QuickBooks or Xero
- Multi-entity groups (2-30+ legal entities)
- Multi-currency operations with real FX complexity
- Organizations tired of spreadsheet-based consolidation
- Controllers who want to close in days, not weeks
Poor fit
- Very small businesses (< 15 employees) happy with QuickBooks Online
- Enterprises deep in Oracle Financials or SAP FICO with existing standards
- Highly specialized accounting (insurance reserves, oil & gas JIB) requiring pre-built industry modules
- Organizations unwilling to standardize a chart of accounts across entities
— Our methodology
How we deliver Odoo — structured, rehearsed, rollback-tested.
Every Odoo engagement we take on runs through the same seven-phase delivery methodology — structured discovery, parallel configuration and data migration, rehearsed cutovers with tested rollback paths, role-based training, and 4-8 week hypercare. Refined across 50+ implementations including one of our largest engagements to date.
— Questions
Accounting questions we get.
Is Odoo Accounting suitable for multi-entity groups?
Yes. We deploy Odoo for groups running 2-30+ legal entities, with inter-company invoicing, transfer pricing rules, consolidation, and elimination entries handled in-system. Consolidated reporting rolls up in real time rather than requiring a month-end rollup exercise.
Does it integrate with our bank?
Odoo connects to 25,000+ banks globally via Plaid (US), Yodlee (global), Ponto (EU), TrueLayer (UK), and direct OFX/MT940 connectors for banks not on those networks. For banks with none of those, we build a CSV import workflow. Bank feed data is ingested daily and matched by ML-assisted reconciliation.
What about tax jurisdictions?
Odoo supports tax configurations out of the box for the US (sales tax + streamlined), EU VAT, UK VAT (including MTD), GCC VAT, Canadian GST/HST/PST, Indian GST, and dozens of others. For complex jurisdictions we configure per-customer and per-product tax rules. We integrate Avalara or TaxJar when sophisticated rate determination is needed (e.g., US multi-state sales tax with nexus).
How does multi-currency and FX work?
Every transaction is stored in its original currency plus the company currency. Real-time FX rates pull from ECB, Bank of Canada, Federal Reserve, or configurable sources. Unrealized gain/loss is calculated and posted automatically at month-end. Consolidated reports can render in any currency with historical, average, or current-rate translation.
Does it support revenue recognition (ASC 606, IFRS 15)?
Yes for standard cases (subscriptions, project revenue, ratable recognition, milestone billing). For complex multi-element arrangements with standalone selling price allocation, we sometimes layer in a dedicated rev-rec module or integrate tools like Zuora RevPro depending on volume and complexity.
What about lease accounting (ASC 842, IFRS 16)?
Native Odoo handles basic lease accounting with right-of-use asset and liability tracking. For large real-estate or equipment lease portfolios we configure custom workflows or integrate dedicated tools like LeaseQuery.
Can our auditors work with Odoo?
Yes. Odoo's audit log captures every transaction, approval, and modification with user and timestamp. We configure standard audit reports (trial balance, journal entry detail, user activity log) that auditors request. We've worked with Big 4 and regional audit firms during client engagements — no audit has failed on system controls.
How does month-end close work in Odoo?
Odoo supports a structured close process: post recurring entries, run depreciation, revalue FX, post accruals, reconcile banks, post inter-company eliminations, run consolidation, generate financial reports, close period. Most of these are scheduled or one-click operations rather than manual work. For groups we configure automated period-close workflows that execute across entities.
Close the books in 4 days?
30-min accounting audit call. We map your multi-entity close, surface bottlenecks, and quote what a faster month-end takes.
Book an accounting audit