Accounting and bookkeeping provide the backbone to any business. One simply cannot imagine doing routine business tasks without the use of accounting. Whether you have a small business or huge setup, you will always need to know how much money is coming and spending; in business terminology, one simply wants to manage the cash inflow and outflow. And that is only possible with accounting practices. Doing them manually requires a lot of time and seems a cumbersome work. Therefore, many accounting software packages are made available in the market. Mostly they are paid ones but the good news is that there is software(s) which are free and make accounting practices easy.
Let’s see what an accounting software is?
Free accounting software is a technology that lets the business owners and accounting professionals manage their business’ books through the computer for free.
The only glitch-free accounting software has that it won’t serve as a full-fledged powerful tool, and to access all the options available in free accounting software you will have to pay.
In my personal opinion, if you really mean to make your business stand out, then there is no harm in paying for this handful software (s) because they make bookkeeping a lot easier and manageable.
Using accounting software helps in managing invoices, payrolls, and expanses. At the end of the month or quarter, you will have a clear picture of your business. Managing finances lets you evaluate your business well. It clears the picture in which your business is heading and what you need to do to make it more cost-efficient and profit earning.
Therefore, now it is recommended to utilize technology as much as you can. And when technology is providing you with the best options to make your daily business tasks easy then you should avail of these options.
Now let me take you through the top 12 best free accounting software that will surely help you in accounting practices.
Designed for medium-sized businesses. If you are looking for a powerful and simplistic software you can rely on Moneypex. Moneypex is a free accounting software providing an extensive range of features, Moneypex is highly easy to use with its simplistic interfere. You can learn to navigate the app the first time you use it. Moneypex allows you to scan unlimited documents and has a swift customer support system. It provides unlimited invoices, tracking expenses, and bills, supplier management,
It is a brilliant free software for accounting practices that will help you in managing routine business tasks. It is highly recommended for people running small businesses.
What will you get in the ZipBooks package?
The ZipBooks’ package comes with unlimited invoicing, vendors and customers plus unlimited bookkeeping. It further lets you connect and manage one bank account and invoice quality score. In short, it gives you’re a glimpse of overall business health.
It is one of the top free software used to manage the accounting practices of small businesses. This software has amazing options like tracking unlimited income, expanse, and invoice. It let you scan a receipt and guest collaborator for free. Another exciting feature of Wave is that it lets you connect your books to unlimited bank and credit accounts.
For start-ups and small businesses, SlickPie is recommended accounting software that offers basic expanse management techniques. This easy-to-use software enables you to keep a record of invoices and everyday expenses. It generates a detailed report which reflects on the financial health of a business and all this for free.
You are new in the business world and finding it hard to understand the application of accounting rules in routine business life than worry not. Because Brightbook is a software designed for such businessmen who need help in understanding accounting practices.
Brightbook has the ability to send professional invoices in any currency and keeps a track of bills and their owners.
Add unlimited users and invoices through CloudBooks. More to it, you can easily track expenses, projects and time required to perform a task. It also provides an estimated time frame for any billing. CloudBooks is developed to meet the requirements of your business.
This accounting software is completely free and provides the base for eyeing productivity of a business. It is more than just usual accounting software; instead, it strengthens internal and external communication. This means that xTuplePostBooks is communication software as well, which requires users and employees alike.
It can help a business in tracking sales, integrate inventory and provide customer management system.
If you have a small business set-up or working individually, TurboCash is your accounting software for free. Let TurboCash help you in managing cash book, general ledger, inventory, debtors and creditors plus invoices.
People working on per hour basis can benefit from it to be more vigilant and managed.
9. Zoho Invoice:
Up till now, you must have noticed that when it comes to financial management the most important and critical thing to manage is the invoice. Almost all the accounting software must have one feature in common and that is managing invoices.
Zoho Invoice is accounting software that is developed to keep the record of all invoices. You can generate customized and brand invoice templates, also, you can manage expenses through it. Zoho Invoice enables you to invoice up to five customers and workflows via a single account.
Compatible with Android, Linux, Windows, OS X, FreeBSDm GNU and OpenBSD, this software comes with simple techniques to manage accounting functions. For small businesses, it is best for bookkeeping, managing accounts payable/ receivable, employees’ expanse and payroll.
Most of the features of Akaunting can be termed as necessary for any business, especially, small businesses. With this free accounting software, you will be doing an invoice, tracking expenses, managing customers and vendors. However, two features that are different than other software packages are: being able to synchronize accounts and set up recurring bills.
As the name of the software suggests, Inv24 lets you handle inventory management for free. Also, it helps you in organizing invoices automatically. Another feature of Inv24 is that a business person can download PDF templates or versions of invoices and can send them via email.
13. NHC Express Accounts:
Businesses whether small or big consider financial reports crucial to evaluate the overall performance of the business. Generating a financial report can be a tiresome and cumbersome job. Many businessmen hire resources for completing this critical and sensitive task.
Now with NHC Express Accounts software, you can generate 20 financial reports which will help you in analyzing revenues. Your customers can get a clear picture of your business. This software also lets you handle accounts payable and receivable.