7 Free Accounting Software Packages and Why They Are Indispensable to Smoothly Run a Small Business!

Are You Using Any of These 7 Free Accounting Software Packages? Check Out Why They Are Indispensable to Smoothly Run a Small Business!

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7 free accounting software packages

With thousands of business-critical tasks to take care of every day, small business owners often forget to include accounting in their to-do list. Luckily, there are a number of free accounting software packages available online, which enable small businesses to automate their accounts. And that too without having to fork out a single penny. Illustrated below are 7 such free accounting software packages that will help you manage your finances easily and efficiently.

1 — Wave : Why It Is One of The  Popular  Free Accounting Software Packages

One of the most popular free accounting software packages, Wave, currently has a worldwide user base of over two million. This totally free-to-use finance management software, closely resembles the pricey, high-grade suites. No wonder it has now become a top open source accounting solution for small businesses and freelancers.

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The free and simple financial software is tailored to the needs of startups and small teams. Thus it strives to offer a clutter-free environment for streamlined management of payments, expenses, employees, and taxes.

Wave provides its users with an excellent opportunity to collect credit card payments, which works great even at the client’s side as well. Moreover, with a couple of clicks, users can easily trigger professional-looking invoices, while tracking their finances throughout transaction histories.

For an accounting system that is absolutely free, Wave’s organizational capability is also pretty much appreciable. The cutting-edge financial software allows users to access detailed financial reports of their transactions by pulling off data from comprehensive dashboards. What’s more? It is extremely easy-to-use on all operating systems and devices. Wave comes with developer APIs to help small businesses design their own implementations.

accounting software for small businesses

2 — ZipBooks : How It Caters to SMEs Perfectly

Specifically developed for individuals and small businesses, ZipBooks is a dynamic invoicing and accounting software that turns raw data into actionable insights. ZipBooks primarily focuses on providing seamless financial management. Yet the system is unparalleled when it comes to delivering high-end solutions. Features like payment integrations, invoice designing, and auto billing,  certainly lessen accounting workloads substantially.

One of the top-rated free accounting software packages, Zipbooks helps enterprises save precious time by coordinating information in color-coded schemes. This helps fosters simpler reconciliations. The accounting software, with a fluid interface, is packaged with several stunning features, the most incredible of them being data intelligence. A rare solution in free-of-cost accounting platforms, Zipbooks’s data intelligence capabilities can provide deep insights into competitor performances and profitable customers.

3 — Odoo :  How It Offers A Single Platform For Many Tasks

The state-of-the-art Odoo accounting software incorporates finance, sales, and project management tools on a single platform. Integrated with MRP,  e-Commerce, and POS solutions, it provides users with a single-window experience for a variety of operations. Odoo, further includes a robust inventory management system, which makes the framework one of the most advanced free accounting software packages on the market today.

Famed for its agile architecture, the Odoo accounting platform features highly customizable functionalities. These can be seamlessly tweaked according to business-specific requirements. Odoo financial management system is loaded with more than one thousand modules. What’s most attractive is that users are free to add more modules while using the software.

4 — QuickBooks : Why It Is One of the Comprehensive Free Accounting Software Packages

A top-notch finance and accounting software, QuickBooks, is a fully-featured, lightweight system, capable of catering to every accounting needs of small and mid-sized enterprises. The application is perfectly suited for any businesses environment. It  incorporates superior data organizing capabilities, and also enables companies to effortlessly manage a wide array of accounting operations. Key features of QuickBooks online accounting software include –

  • 360° protection of accounting data
  • Automated reporting
  • Quick and efficient navigation
  • Leading-edge shipping management

Although QuickBooks isn’t completely free, it does give a 30-day trial offer.

5 — Expensify :Why It Is Considered The Business Friendly Package for Small Setups

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Expensify is a fantastic option for startups, low- tier companies, and mid-market users. This fully integrated financial management system, one of the acclaimed free accounting software packages, covers a wide range of transparency maintenance mechanisms. The business-friendly accounting software is ideal for enterprises seeking to improve their financial control. The software specializes in balancing debt-to-income ratios, maintaining transaction summaries, and handling travel expenses across organizational levels.

Additionally, Expensify optimizes expense reporting by automatically integrating with financial transaction organizations, credit card issuers, and a variety of payment modes. The fluid accounting platform makes use of sophisticated GPS technology to record the business trip miles of employees, and straight away calculates reimbursements if any.

For convenience, Expensify has also added tools like currency converter and exchange rate calculator, which enable hassle-free cost calculation of international trips. That’s not all! With Expensify, your business can leverage eCommerce, ERP, and CRM integrations to easily consolidate expense management with accounting or sales operations.

6 — Express Accounts : How It  Manages Bookkeeping For Small Businesses

NCH Software, Express Accounts, a product of Australian Software development company, is a professional bookkeeping and accounting network for small businesses. As one of the most comprehensive free accounting software packages, Express Accounts allows accountants to do a lot! Use Express Accounts to track transactions, and easily pull reports and balances to determine the financial health of the organization.

The best-in-class accounting platform, perfectly suited for startups, offers the same functionalities to both free and paid users. While teams using the free version can connect up to five members, paid users can share the platform with as many members as they want.

Express Accounts can be downloaded on mobile devices, as well as on desktop environments like Microsoft Windows and the Mac OS. The financial management framework merges accounts receivable and accounts payable. This empowers users to carry out a range of statistical analysis while securing data in different backup locations. The futuristic accounting platform also incorporates inventory integration, which simplifies and streamlines the process of inventory data management.

7 — Invoice Expert : Why It Is Rated One of The User-Friendly Free Accounting Software Packages

Invoice Expert is yet another free-of-charge accounting software that neatly blends billing and invoicing capabilities with inventory management. Among the free accounting software packages available on the market, Invoice Expert is the only financial management program that offers free users to team up with up to 100 members.

Businesses using the free variant, or the Lite Edition, also get the chance to upgrade to the premium Advanced Edition, without any support fees or hidden charges. With Invoice Expert’s Advanced Edition you get access to a wider range of products, personalized invoice designing options. And yes, you also enjoy the opportunity to add unlimited members.

The Invoice Expert accounting system, configured with an avant-garde customer service suite, is focused on meeting the invoicing, inventory management, and billing needs of multiple industries. Few core business sectors covered are internet-based online businesses, service providers, and retail stores. The free-to-use financial management platform is also renowned for its extensive connectivity and networking options. Thus the program quickly blends with any business ecosystem.

To Conclude

The above mentioned ready-to-use free accounting packages  can make life a lot easier by enabling you to expertly automate a sizeable portion of your accounting operations.

Small businesses are recommended to start with any of the above-mentioned free accounting software. You can always upgrade to an advanced solution, such as QuickBooks, as and when the need arises.

And finally, I would like to share a really useful resource, especially for small business owners who still struggle to master accounting packages. This resource enlightens you about Accounting basics in 7 days, so that you can confidently start using the free accounting software packages.

What’s your favorite free accounting software package? Would you like to add any new name to the list?

And yes, we are always open to business query and collaboration. If interested, get in touch with us for further discussion.

 

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