Choosing an accounting software can be a tricky affair. And if you need a free one, it can be even trickier. There’s no shortage of options in the market, and that’s why making a choice becomes difficult. So we thought of making a list describing the top 5 free accounting software programs to help you take a decision. Let’s get down to business:
Arguably the most popular accounting software in our list, Zipbooks allows you to not just manage your accounting data but also make sense of it. Thanks to the color-coded scheme it drastically simplifies reconciliation and its data intelligence allows you to gather actionable insights from your data. It comes with several great features as well to reduce your workload, including auto-billing, ability to send and receive professional invoices and PayPal integration to receive payments. You can also connect your bank accounts with it for easier tracking of transactions. However, the biggest highlight of this software is its data intelligence capabilities.
GnuCash is an accounting software that comes with so much flexibility that you can tweak it to meet international accounting standards and domestic standards both depending on your preferences. You can track your stocks, bank accounts, expenses, income from various sources and much more than that with this software, and you can also perform financial analyses whenever you need to generate profit reports or strategies. However, the unique selling point (USP) of this software is the feature of double-entry accounting, which allows you to match and reconciliate HBCI, QFB, and QIF transactions. GnuCash is aimed primarily on the needs of large teams.
Money Manager Ex is special in the way that it comes with the ability to detect your expenses as you do them. Once integrated with your accounts it can keep track of when and how you spent your money so you don’t need to do too much of work yourself. Plus, it has easy and simple user interface allows you to use the software easily.
Unlike other programs which also have their own paid versions, Wave is offered completely free of cost. It’s open source, and despite being free it comes with features that rival the offerings of paid programs. Aimed on the needs of small teams and startups, Wave allows you to manage your employees, pay taxes, track expenses and get your payments. You can accept payments with it, and thanks to its highly organized dashboard you can also get a quick-yet-detailed report of your finances at a glance. But just like every other program mentioned in our list this one also has its own USP, and that is payroll management. With Wave, you can calculate salaries of your employees and then pay them easily.
Like Wave, XTuple Postbooks is also an open-source software but its highlight is that it’s a complete Business Process Management solution. With a CRM, ERP, and sales management system it’s a product that can help you manage not just your finances but also the rest of your business. Its accounting system integrates well with rest of the software, and it comes with support for multiple languages and currencies so it can be used globally.
The programs mentioned above include at least one program aimed of the needs of everyone. Whether you’re a large team, a small startup team or an individual you can find accounting software for your needs from our list given above. So make your choice and share your thoughts about the software that you choose in comments.
Vaishali Delawala is working freelance writer and would like to keep in touch with attention-grabbing movements around the globe. She has a keen understanding in the area of current affairs and technology trends. You can reach her at Twitter @VHDelawala