Managing business finances is no walk in the park for majority of small business owners. This is where having a good accounting software is very important. While there are a number of accounting software tools you can choose from, many of these tools are actually free. This is good news especially if you are operating on a shoestring budget. In this article, we will share some of the top free accounting software for Small Business owners.
Top Free Accounting Software for Small Business owners
As you probably know, there are so many free accounting software tools available. So, it may get a bit confusing to pick the right one for your business. Below are some of the top free accounting software tools.
1. Wave Accounting
This is definitely number 1 on my list. Many businesses rely on Wave to stay on top of their accounting needs. What makes this stands out is the ease of use. Also, the software comes with options such as unlimited income and expense tracking. So, if you are a small business with limited resources, Wave is a good option to manage its accounting.
One downside of using this tool is it doesn’t let users track accounts payable. It also doesn’t have an advanced mobile app, which can make it less accessible than other free software tools.
2. Zoho Books
If you are a small business owner with annual revenue less than $50,000, this is for you, Zoho Books is a robust solution that comes with a host of accounting features. On its platform, businesses can find a simple solution to manage invoices and sales orders.
Akaunting is popular among small business owners and freelancers. Some of its useful features include transaction categories, cash flow management and expense tracking. Also, the platform is cloud-based and this means you can access it from anywhere and on any device.
Given its massive reach, Akaunting is available in more than 50 languages. The downside is that Akaunting doesn’t have strong customer support in place.
If you are a freelancer or independent contractor, BrightBook is for you. Some of its key features include financial reporting, invoicing and assistance with financial statements. The drawback is that BrightBook doesn’t have mobile support.
5. Fiverr Workspace
Fiverr Workspace is a free accounting software for independent contractors and freelancers. While this is not a complete accounting solution, it has a number of basic features to offer. These features allow you to perform basic tasks such as sending invoices, tracking expenses, managing contacts, and tracking time.
The downside is that the free plan only allow you to bill a single client. If you need to bill multiple clients, you will need to upgrade to a paid plan.
GnuCash is a free desktop accounting software for small businesses. You can download it on your Windows, Mac OS X and Linux system. This doesn’t have a great interface, but once installed it can support much of your accounting needs. The software is designed especially for sole entrepreneurs who need help with day-to-day accounting.
TurboCASH, is a free open source accounting software. Its TurboCASH 4 plan is completely free. The program lets you set up your accounting system and adjust it according to your needs quickly.
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