When something is free, the value it can add is immense, especially if your business is in the development stages. Organised accounting for small businesses is an important backbone as the company grows.
Previously it would have been hours of work and a few employees to stay on top of your accounting. Nowadays, there’s free, easy to use software that will streamline the process for you.
But which to pick? We’ve done the research, and users of these software solutions have got back to us with positive thoughts and reviews. Here are your 5 – use our descriptions to see which solution will work best for your business.
i like GNU Cash as a choice of free accounting software as it offers a range of features that are perfect for small businesses such as double entry accounting and the ability to produce detailed reports.’
Wave Accounting is a cloud accounting app that allows small businesses and accounting firms to manage their invoices, receive payments, scan their receipts, process their payroll and access financial reports all via their web and mobile app.
It’s a super modern tool all for the wonderful price of… free. Wave Accounting cannot be beat in the free business accounting software domain.
Perfect for my small business with 3 employees.
The free version of this accounting software can support the accounting needs of small businesses with fewer than five employees, so I have flexibility if I want to grow the business.
This allows me to access and generate up to 20 crucial financial reports – which is more than enough – and helpfully allows you to breakdown revenues by customer, team member, or product/service.
It’s simple and efficient to manage accounts receivable and payables with this software. With online capability available from around $60 should I need extra storage or security.
I used to use Xero for accounting until I discovered ZipBooks, which is basically a free alternative. With ZipBooks, you don’t have to pay for a subscription plan to get full-functionality from the software. What I also like is the intuitive feel of the app and the numerous features that come included.
As you would expect with any accounting software, it allows you to compile detailed spending reports that help you pinpoint where your money is being spent. You can also connect your ZipBooks profile to your bank account, and track your financial data in real-time. Basically, it allows you to keep all your financial data in one place, allowing you to quickly access it as needed.
ZipBooks allows you to view all your invoice data in detail as it displays paid invoices and average invoice age as well. You can quickly sort through total accounts receivable, and get detailed statistics on your clients. This way you can save time and categorize your clients based on their payment history.
Overall, ZipBooks is an excellent choice if you need a free accounting app that takes care of your small business needs. It’s intuitive, well-designed and made with entrepreneurs in mind.
Allows for multicurrency accounting which is a complex feature for a free product. As a founder of the virtual tax prep firm Taxhub.com, I recommend it to my clients and have never had any problems with it.