Introduction
Historically, accounting has been considered a dull and unexciting aspect of business. However, as businesses and regulations evolved, good accounting departments have become a key contributor for the success of the company. It is therefore essential for accounting teams to use the right digital tools to effectively monitor company finances and maintain regulatory compliance.
With numerous accounting software options available, selecting the right one can be challenging, as there are many considerations to the evaluation process. An ideal solution streamlines processes, enables fiscal compliance, and provides an excellent user experience, all at a competitive price.
This white paper compares leading accounting software in the Netherlands—Odoo and Exact—by assessing key features across categories such as General Accounting, Accounts Receivable, Accounts Payable, Bank and Cash, Extras, and Reporting. Beyond functionality, we will also evaluate user-friendliness and costs to provide a comprehensive overview of each solution's strengths and suitability for different business needs.
Accounting Software: The backbone of effective fiscal management
At their core, accounting tools provide a suite of financial functions tailored to address the common accounting needs of a business. They provide capabilities for financial monitoring and ensure accurate and timely insights into a business’s financial health. Accounting software also streamlines fiscal compliance, making it easier for companies to meet local tax laws and regulations. Additionally, they simplify accounts payable and receivable processes, automate payroll management, and support budgeting, all of which help maintain fiscal organization and efficiency. Together, these functionalities form the backbone of any business, from SMEs to corporates.
Beyond accounting: How broad-scope solutions transform the business landscape
Accounting is at the core of every business, integrating with sales, purchasing, warehousing, and other key functions. Consequently, more and more companies are adopting comprehensive all-in-one solutions like Odoo, which go beyond accounting to synchronize entire operations. This integrated approach enhances efficiency and enables competitive advantages that would otherwise be difficult to unlock.
Businesses that use standalone accounting tools alongside separate software for their daily operations are increasingly aware of the challenges involved with this approach. To build and maintain digital workflows and ensure visibility, they must either manually transfer and consolidate data between systems or develop and maintain integrations across multiple tools. Both approaches tend to be inefficient, error-prone, and costly.
Unlike standalone software, broad-scope solutions integrate real-time data across multiple functions, streamlining operations and enabling faster, more informed decision-making and business strategies. Their built-in connectivity minimizes manual errors, enhances organizational alignment, and lowers long-term costs by reducing the number of digital tools and eliminating integration maintenance.
Odoo
Created to disrupt the enterprise landscape and finally provide a simple solution for complex needs, Odoo has become one of the most popular business solutions. With more than 82 business apps fully integrated, and thousands of community modules, the open-source software caters to every sector and company size, becoming a major player on the market.
Odoo is available in three editions: Community, Enterprise, and Online.
"Amazing employees deserve amazing software."
12 million +
users
44,000 +
apps
1 to 6 weeks
to implement
3,600 +
employees
Exact Online
Established in 1984, Exact is a Dutch company that develops cloud-based software designed for small and medium-sized businesses and their accountants. The company’s flagship solution, Exact Online is a suite of products that focuses on automating processes related to bookkeeping and CRM, while also offering specialized add-ons for applications such as accounting, distribution, manufacturing, projects, and construction. Exact serves over 675,000 clients, primarily in the Netherlands, Belgium, and Germany.
"Online accounting, specially designed for SMEs and accountants."
150.000 +
users
100+
apps
2 to 6 weeks
to implement
1.800 +
employees
Features Comparison
General Accounting
Odoo
Exact Online
General Scope
Multi-currency
Consolidation
Multi-User
Multiple Journals
Number of Languages
85
30
Supported Countries
80+
7
Access Rights
Access Rights per Screen
Access Rights per Field
Customizable Validation Steps
Third-Party Integration
Availability of an API
Spreadsheet Integration
Import: Excel or CSV
Export: Excel or CSV
Customer Portal
Accounts Receivable
Odoo
Exact Online
Customer Invoice
Proforma Invoices
Multiple Taxes per Line
Advanced Taxes (fixed, tax of taxes, etc.)
Discounts
Pricelists
Multi-Step Payments Terms
Cash Discounts
Outstanding Payments Reconciliation
Emails Discussion as Attachment
Configurable Email Templates
Send Invoices
Generate a PDF Invoice
Batch Send Invoices by Email
Post Invoices by Standard Mail
Online Payments
Credit Cards
PayPal
SEPA Direct Debit
Customer Statements
Aged Receivable Balance
Customer Statements
Automated Follow-up Letters
Automated Follow-up Actions
Unpaid Fees and Penalties
Third-Party Debits Recovery
Recurring Revenues
Automated Recurring Invoices
Subscription Upsell / Renewal
KPIs: Churn, MRR, Upsells, etc
Alerts for Contract Renewal
Miscellaneous
Automated COGS Entries
Automated Deferred Revenue
Accounts Payable
Odoo
Exact Online
Vendor Bills
Billing Control (Purchase Orders / Receptions)
Multiple Taxes per Line
Purchase Agreements
Multi-Step Payment Terms
Fleet Bills & Disallow Expenses
Peppol / UBL Support
Artificial Intelligence
Bills OCR Recognition
Learning Intelligence
Payment Data from OCR
Realtime OCR (<10 minutes)
Vendor Payments
Aged Payable Report
Print Checks
Automate Wire Transfer (SEPA)
ACH Transfers
Expenses
Employee Expenses Report
Expenses Validation Flow
Mobile App for Expenses
Miscellaneous
Assets Management
Bank & Cash
Bank Interfaces
Import Statements: QIF
Import Statements: OFX
Import Statements: CSV
Import Statements: Coda
Import Statements: Camt.053
Deposit Tickets
Efficiency
Reconcile while Matching
Misc. Operations while Matching
Automated Rules
Bank Reconciliation Reports
Automated Currencies Rate Update
Extras
Odoo
Exact Online
Analytic Accounting / Grouping
Analytic / Cost Accounting
Multi-Level Analytic Accounting
Multiple Plans
Budgets
General Budgets
Analytic Budgets
Payroll
Payroll
Valuation
Standard Price
Average Price
FIFO
Perpetual Inventory Valuation
Reporting
Odoo
Exact Online
Legal Statements
Profit & Loss
Balance Sheet
Cashflow Statement
General Ledger
VAT returns
Tax returns
PKI certificate for VAT reporting
Reports
Pivot Table on Multiple Dimensions
Customizable Reports
Customizable Dashboards
Partial
Annotate Reports
Customizable KPI’s
Predefined Executive Summary
Perpetual Fiscal Year Closing
Usability, Pricing & Conditions
Odoo
Exact Online
UI
Full Web Interface
Mobile App
Android App
iPhone App
Market Place
App Store / Add-ons
Other (integrated) solutions
eCommerce
Expenses
Inventory
Manufacturing
Operations (project, timesheet, etc.)
Human Resources
Document Management
Subscriptions
Point of Sale
Purchase
Sales
Implementation
Easy installation
9/10
8/10
User-friendliness
9.6/10
8/10
Meets requirements
9.5/10
8,8/10
User Satisfaction
Rating on g2Crowd
4.2/5
4.3/5
Rating on GetApp
4.2/5
4.3/5
Rating on Capterra
4.1/5
4/5
Pricing and Conditions
Monthly Pricing
Free or 19,90€
from 48€ for 1 person (essential), or from 97,50€ for 2+ users (Plus)
1 app free
Open source
Hosting
On premise & Cloud
On premise & Cloud
Trial version
Quality of support
8/10
7/10
Different solutions, Different needs
Each of the accounting software solutions presents unique strengths that cater to different business needs. Below is a breakdown to help businesses make informed decisions.
Odoo
Odoo’s accounting app is fully compliant with Dutch fiscal regulations and offers powerful capabilities that streamline and centralize entire workflows. Features like AI-powered invoice recognition, bank account synchronization, and smart matching help accountants work more efficiently. Additionally, its seamless integration with Odoo’s CRM, inventory, Point-of-Sale, and eCommerce apps creates a comprehensive, all-in-one solution at a competitive price.
The platform enhances collaboration and productivity by including built-in communication tools for both internal and external correspondence, task management, and document sharing. Odoo's scalability makes it suitable for both small and medium-sized enterprises (SMEs) as well as large enterprises looking for growth-oriented solutions. Its ability to consolidate multiple business functions into a single system replaces the need for separate, non-integrated software.
Odoo is best suited for businesses seeking a comprehensive, customizable ERP solution with strong scalability options
Exact Online
Exact is a widely adopted solution among Dutch companies, particularly those looking for a finance management system with strong regulatory compliance.
Popular among Dutch SMEs, Exact Online is a good choice for companies who seek for a predefined accounting tool with minimal customization requirements. While its built-in features primarily focus on finance and CRM, Exact can be extended through add-ons and third-party integrations. With the right combination of capabilities, businesses can expand the platform to include point-of-sale, inventory management, and eCommerce, as described in the comparison table.
In recent years, Exact has expanded its functional capabilities through strategic acquisitions of other software companies, including Officient (an HR solution) and Horeko (a restaurant management tool).
Conclusion
Ultimately, the best choice depends on your organization’s unique needs. Key criteria to evaluate include business scope, functionality, ease of use, customization options, and overall costs.
If you're seeking a specialized accounting solution, Odoo and Exact Online are strong options. These systems offer advanced features and ensure compliance with Dutch regulations, making them well-suited for complex accounting environments and addressing all accounting needs efficiently.
For businesses with more extensive requirements, including multiple functions and business flows, Odoo may be the most appealing option. Its advanced features can accommodate a wide range of processes, while its productivity and communication tools facilitate seamless interaction with both internal and external parties, streamlining operations. Odoo’s extensive customization options and integrated business applications—such as eCommerce, Project Management, Inventory, and CRM—make it the ideal solution for businesses with needs beyond accounting. Additionally, its user-friendly interface and ease of setup make it an excellent choice for small and medium-sized businesses.
