Odoo vs NetSuite Finance for German accounting

Benchmarks to compare Odoo and NetSuite for German localisation

Most ERP vendors claim localisation, but coverage, delivery models, and workflows vary.

This comparison looks at the features required once German accounting becomes operationally relevant. This means that financial reports need to be exported, submitted, or audited. 

These typically include:

• SKR03 / SKR04 chart of accounts
• German-format P&L and Balance Sheet
• GoBD-compliant exports (not just CSV or TXT)
• VAT and Intrastat reporting
• Deferred VAT and revenue handling
• German bank feed integration (HBCI/PSD2)
• PDF templates in German
• DATEV-compatible exports for year-end filing

These are the basic features, not taking into consideration add-ons or partner modules.

Odoo vs NetSuite localisation features overview

Feature-wise, both Odoo and NetSuite are aligned. 

However, multiple elements that are standard in Odoo, like deferred logic or structured export templates, are listed as optional or paid add-ons in NetSuite. 

Some of these are not clearly disclosed until after implementation.

Public documentation on NetSuite’s localisation coverage is also limited. 

Based on user feedback and internal comparisons, NetSuite offers the same core set of features, but with more reliance on configuration, partner tools, or middleware.

VAT, Intrastat & ELSTER reporting

When it comes to government submissions, both systems follow the same process and both stop short of full automation,  with a similar underlying logic and file structure and an identical process.

ELSTER is the official electronic filing system used by German tax authorities to receive VAT returns, annual reports, and other filings.

It requires local transmission tools with hardware-based authentication, which prevents standard cloud ERPs from integrating directly.

The ELSTER interface still requires local infrastructure and hardware tokens. Neither Odoo nor NetSuite has native ELSTER submission. 

Both systems export VAT returns in XML format, which must then be uploaded manually via ELSTERTransfer or a certified desktop client.

Year-end closing and DATEV handoff

Neither Odoo nor NetSuite includes statutory year-end reporting, as this is handled externally via DATEV.

Both systems provide financial data preparation and export, but rely on DATEV for:

• E-Bilanz generation and transmission
• Corporate and income tax reports (Körperschaftsteuer und Gewerbesteuer)
• Trade balance / tax balance sheets (Handelsbilanz / Steuerbilanz)
• Final ELSTER transmission

However, only during implementation did they realise that a DATEV interface had to be purchased and configured separately.

In Odoo, DATEV exports are available through standard export templates. In NetSuite, users typically rely on partner-built connectors to hand off closing data.

As Odoo is an open-source software, third-party integrations are readily available and easy to connect via API. 

When to choose Odoo and when to choose NetSuite?

From a localisation perspective, Odoo and NetSuite offer nearly identical feature sets if we look at standard features alone.

 Both rely on DATEV for closing, and both lack an ELSTER integration out of the box.

The main difference is:

• Odoo includes more German features in the base configuration and documents what it doesn’t do. It is an open-source software, making it easy to access third-party solutions that can be integrated via API. This facilitates a connection to DATEV and ELSTER.
• NetSuite delivers a comparable outcome, but often requires additional setup or partner tooling and doesn’t always disclose it early on.