Accounting Comparison White Paper:

Odoo, Quickbooks, Sage & Xero

June 2016

Introduction
Introducing Accounting offers available today
Traditionally accounting has been treated as one of the dull and unexciting aspect of a business. However, as the business evolves the accounting department will become arguably one of the most important
components in the success of that business. Accountants are perfectly positioned to be some of the
most valuable informational resources in a company. They know the ins and outs of how the organization
operates and are intimately acquainted with the organizations current and projected financial position. It
is critically important for the financial health of an organization to provide the accounting team with the
tools they need in order to effectively monitor these factors.
There are many accounting software offers on the market capable of providing the features and reporting functions accountants need, but where should the search for the best choice begin? Most growing
businesses use a commercial management solution for their business operations. The ideal solution for
these businesses would be to choose an accounting software that can be integrated with their current
commercial solution. This will save a great deal of time and resources for the organization.
Accounting software is available either installed locally or through a cloud service provider. While both types
of software have their own unique advantages, online offers are becoming increasingly popular choices
amongst small and medium size businesses (SMBs) given the simplicity and low cost of implementation.

Features Comparison
We decided to compare the biggest players on the market with Odoo, including Quickbooks, Sage, and Xero.
In order to offer a fair comparison of the most popular accounting solutions, we have compiled a table of the
most important features an accounting software should offer. These are organized into 6 main categories: General
Accounting, Accounts Receivable, Accounts Payable, Bank & Cash, Extras, and Reporting.
These categories encompass almost everything a company needs in order to manage its finances.We have also
included a comprehensive list of the pricing conditions and usability analysis for each solution in this comparison.

Comparing Accounting Software Offers

Odoo Online
Odoo is an open source software that is available in three versions, of which two are local and one
is hosted in the cloud. More than 360 apps are available thanks to the multiple developments made
by Odoo and its community. Some of these apps are officially validated by Odoo, whereas others are
developed by the community and dedicated to specific versions for specific needs.

GROW YOUR BUSINESS

For this comparison we chose the cloud-hosted
version of Odoo Accounting, Odoo Online. The
unique feature of this software is the full integration with the rest of the Odoo ecosystem, so there
is no need to enter data twice or develop thirdparty integrations. Odoo offers more than 30 apps,

2+
million users

all connected to the same database, which cover

many business cases ranging from sales and CRM
to inventory and manufacturing.

120+
countries

730

1,500

partners

developers

Quickbooks
Quickbooks is an accounting software for small and medium businesses created in 1994 by the financial software company Intuit. The software has since been split into two versions with industry-specific
features added to broaden its appeal In 2014. Quickbooks counted more than 624,000 subscribers,
making it one of the most widely used accounting software solutions in the US.

BUILT FOR YOUR SMALL BUSINESS.

APPROVED BY ACCOUNTANTS
Quickbooks is available in two versions: Enterprise and Online. The Enterprise version is
available online via additional hosting or locally.
Quickbooks Online is available in 3 plans:
Simple Start, Essential or Plus.

+300
supported apps

For this comparison, we will demonstrate Quickbooks with its Online Essential product.

created in

1994
50,000+ 1+
professional
advisors

million subscribers

Sage
Created in 1981, Sage was initially designed as a stand-alone accounting software. Since its inception,
Sage has been significantly expanded to include a greater scope of both accounting and general business
management features. Today, Sage offers a range of business management software products for business
of all sizes. For this comparison, we have chosen Sage One Online Accounting, which we believe represents
a good online accounting option for SMBs

BOOKKEEPING ESSENTIALS FOR

BUSINESS OWNERS.
Sage One has two editions: Sage One Accountant Edition, with features intended to be used
by freelance accountants and bookkeepers, and
Sage Online Edition, designed for SMBs.

100k
client organizations

Sage One Online Accounting is restricted to

finance and can be upgraded through a variety
of adds-ons. For this comparison we chose to
compare the features of the Sage One Online
Accounting version.

3,500
partners /
re-sellers

70+

3rd

countries
worldwide

largest ERP
worldwide

Xero
Xero was founded in 2006 in New Zealand by a business manager and accountant. They werent happy with
the traditional desktop accounting software, so they decided to develop their own web-based solution.
Since then, Xero has grown to accommodate European and US markets as well as expanded its features
and mobile functionality. In 2014, Xero was featured on the Forbes 100 Most Innovative Growth Companies.

BEAUTIFUL ACCOUNTING SOFTWARE

Xero is available only through their SaaS offer.
Customers choose from one of three plans: Starter,
Standard, or Premium. For this comparison we
chose the Standard Plan of Xero.

700k
subscribers

16k
partners

400+

1,400

adds-ons

employees

Features Comparison
Quickbooks
Online
Essentials

Odoo
Accounting
Online

Sage One
Accounting
Online

XERO

Multi-Currency

Multi-Company Consolidation

Multi-User

Multiple Journals

Multi-Language Support

Supported Countries

40

10

Access Rights per Screen

Access Rights per Field

Customizable Validation Steps

Availability of an API

Google Spreadsheet Integration

Import: Excel or CSV

Export: Excel or CSV

Customer Portal

General
Accounting
General Scope

Access Rights

Third Party-Integration

Quickbooks is dedicated to the U.S. market. Xero is supported in 4 countries: Australia, New Zealand, US, and UK. Sage One
Accounting Online is available in 15 countries: Australia, Botswana, Brazil, Canada, Germany, Ireland, Kenya, Malysia, Morocco,
Namibia, Nigeria, South Africa, Switzerland, UK, US.

Available with some customization.

Add-on required for this feature.

Accounts
Receivable

Quickbooks
Online
Essentials

Odoo
Accounting
Online

Sage One
Accounting
Online

XERO

Proforma Invoices

Multiple Taxes per Line

Discounts

Pricelists

Multi-Step Payments Terms

Outstanding Payments
Reconciliation

Emails Discussion as
Attachment on Invoice

Configurable Email Templates

Generate a PDF Invoice

Batch Send Invoices by Email

Post Invoices by Standard Mail

Aged Receivable Balance

Per Customer Statements

Automated Follow-up Letters

Automated Follow-up Actions

Unpaid Fees and Penalties

Third-Party Debts Recovery

Credit Cards

PayPal

Automated Recurring Invoices

Contrats / Subscriptions
Management

Recurring Business KPI 4

Alerts for Contract Renewal

Automated COGS Entries

Automated Deferred Revenues

Customer Invoices

Send Invoices

Customer Statements

Online Payments

Recurring Revenues

Miscellaneous

Included for an additional fee.

Sage Payment Solutions add-on necessary.

Available as an additional app.

Such as MRR, Churn, CAC ratio, CLTV, etc. Its about recurring KPI, not custom KPI.

Quickbooks
Online
Essentials

Odoo
Accounting
Online

Sage One
Accounting
Online

XERO

Multiple Taxes per Line

Purchase Agreements

Multi-Step Payment Terms

Aged Payable Report

Print Checks

Automate Wire Transfers

Employee Expenses Report

Expenses Validation Flow

Accounts Payable
Vendor Bills

Billing Control
(Purchase Orders / Receptions)

Vendor Payments

(SEPA)

ACH Transfers
Expenses

Miscellaneous

Assets Management

Available with add-on.

Xero supports compound taxes. Possibility to manage multiple taxes with a compound tax.

Available with Quickbooks Payments.

Available with add-on.

Available with QuickBooks Online Payroll.

Quickbooks
Online
Essentials

Odoo
Accounting
Online

Sage One
Accounting
Online

XERO

Bank Interfaces

Import Statements: QIF

Import Statements: OFX

Import Statements: CSV

Import Statements: Coda

Import Statements: Camt.053

Deposit Tickets

Bank Reconciliation Reports

Automated Currencies
Rate Update

Quickbooks
Online
Essentials

Odoo
Accounting
Online

Sage One
Accounting
Online

XERO

Analytic / Cost Accounting

Multi-Level Analytic
Accounting

Multiple Plans

Optional Tags per Entry

General Budgets

Analytic Budgets

Standard Price

Average Price

Bank & Cash

Bank Statements

Miscellaneous

Extras
Analytic Accounting /
Grouping

Budgets

Payroll
Payroll
Valuation

FIFO & LIFO

Perpetual Inventory Valuation

Quickbooks offers import of payroll tax tables for an additional fee.

Sage One Payroll integration available.

Available with add-on.

Available with Quickbooks Online PLUS.

Available with add-on.

Available with Quickbooks Online PLUS.

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Quickbooks
Online
Essentials

Odoo
Accounting
Online

Sage One
Accounting
Online

XERO

Profit & Loss

Balance Sheet

Cashflow statement

General Ledger

Tax Reports

Tax Audit Report

Pivot Table on
Multiple Dimensions

Customizable Reports

Customizable Dashboards

Annotate Reports

Customizable KPI's

Predefined Executive
Summary

Perpetual Fiscal Year Closing

Reporting
Legal Statements

Reports

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User Interface
When it comes to efficiency and end-user satisfaction, fine-tuned usability is one of the most important
factors in any software platform. This is especially true of accounting software, as the end user might
spend the majority of their time working within the software. In order to provide functionality, speed, and
convenience to an accounting team, a software solution must maintain a balance between ease of use
and a robust set of features. The user interface supports the overall product design in deciphering human
factors such as preferences, habits, and learned skills in order to effectively serve the intended purpose of
the software as it relates to the businesses that utilize it. A strong functional design is critical in providing
a positive user experience and maximizing user efficiency.
Usability is qualitatively measured as a softwares ability to anticipate what a user might need to do. This
includes ensuring that all of the elements in the interface are easy to access, understand, and use. Well
designed software establishes familiarity by maintaining a consistent interface and predictable interactions throughout so users feel comfortable with the system, allowing them to complete their desired tasks
quickly. It will help users perform actions quickly as well as become more efficient in their day to day tasks.
Best practices also suggest having a simple interface with consistency (common elements) and a page
layout based on hierarchical importance and flow.
The next section includes screenshots of the dashboard and bank reconciliation screens of each software
to help you compare the user interface of each software.

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Dashboard - Odoo

Bank Reconciliation - Odoo

13

Dashboard - Quickbooks

Bank Reconciliation - Quickbooks

14

Dashboard - Sage

Bank Reconciliation - Sage

15

Dashboard - Xero

Bank Reconciliation - Xero

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Quickbooks
Online
Essentials

Odoo
Accounting
Online

Sage One
Accounting
Online

XERO

Full Web Interface

Mobile App

Android App

iPhone App

Navigation and Search

Data Entry

Reconciliation Tool

Mobile App

Reports Flexibility

Usability
UI

Market Place
App Store / Add-ons
Subjective Ratings

Odoo currently optimizes for mobile automatically within your browser. Dedicated mobile app available
October 2016.

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Pricing & Conditions

Quickbooks
Online
Essentials

Odoo
Accounting
Online

Sage One
Accounting
Online

$27

Free

$10

Number of Users

Unlimited

Unlimited

Unlimited

Contract Duration

Monthly

n/a

Monthly

6 Months

Free Trial

30 Days

30 Days

Free Updates

Hosting & Maintenance

Support

Pricing &
Conditions
MONTHLY PRICING

XERO

$30

Odoo Accounting is free for unlimitied users, as long as you use solely the Accounting app; when other apps are added
(ex. Subscription, Sales, eCommerce, Inventory), the cost is $25/user with apps priced individually (support is included).

Xero costs $70 per month if you need multiple currencies.

If you use Odoo Accounting in the free offer, support is not included. If you have other apps added (ex. Subscription, Sales,
eCommerce, Inventory), general support is included at no charge in your monthly contract.

Only forum and tutorials.

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User
Satisfaction

Quickbooks
Online
Essentials

Odoo
Accounting
Online

Sage One
Accounting
Online

XERO

Ratings on g2Crowd

2/5

4/5

n/a

4.3/5

Ratings on GetApp

4/5

5/5

5/5

4.5/5

Ratings on Capterra

3.5/5

5/5

4.5/5

3.5/5

Brand Exposure

Conclusions
The selection of a software solution is a process which, if undertaken with scrutiny and a willingness to
obtain as much information as possible, can result in a huge increase in efficiency amongst your team.
No single factor (cost, number of features, UI) is the most important, but rather a balance of many interdependent factors. Which factors are really important for your business? Is your planning focused around
budget? Integration with third-party apps? Are you looking for software that simplifies your accounting
or do you have an accounting expert on staff that needs a powerful solution? Proper balance between
all these elements will lead to optimal end results when selecting the accounting software that fits your
unique business needs.
In order to select the best accounting software for your needs, it is also vital to weigh the desired benefits
against the management teams constraints while also considering the accounting teams day to day operational needs. The most fundamental goals for any decision maker are to grow the business and support
the teams which makes the success of your organization possible. As collaboration is the key to success
with any team, it is beneficial to choose a simple and user-friendly solution which will help your colleagues
to work quickly and effectively while avoiding the need for expensive and time consuming training sessions.
So whether you are a small startup comparing accounting solutions for the first time or a large enterprise
thinking about changing your current software, the information in this document will help you compare the
most important aspects of each accounting solution to help you find the software that best works for you.

This whitepaper was compiled by Odoo SA. We did our best to make it objective and fair. If you find a mistake or a missing feature,
please report it to [email protected] and we will update this document. Our goal is to have a continuously updated comparison of the main competitors to be as accurate as possible.

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