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The ACD Blog > 5 best free accounting software products for 2018

5 best free accounting software products for 2018

 

“Where do I get the best free accounting software?”

That’s always the question I see in accounting software forums. You see, business owners worry much about the expenses related to bookkeeping. Although accounting has a lot of benefits to businesses, owners are still reluctant about spending some money on software.

Who can blame them? There are lots of bills to be paid. Without reducing expenses, they could be part of the statistic of closed businesses.

So, what are the best accounting software products for 2018 that you can get? Here’s a summary to help you out.

 

Akaunting

 

You want something free that lets you check your accounts anywhere anytime?

Akaunting is the answer.

It has different ways to track your business.

One, it has a powerful cash flow system that lets you know the cash level you have right now. Two, it can show you your future payables so that you’ll also know your cash standing in the future.

It has a very clear reporting of income and expenses. It can easily create categories of your income and expenses. This feature allows you to easily monitor the profitability of your business.

Akaunting’s easy invoicing system enables you to get paid faster by your client.

If these features do not convince you yet, there’s also Client Portal which you can share with your clients. You can use this for bulk payment transactions with them. Very convenient isn’t it?

 

Manager.IO

 

Aside from being free, it could work offline!

It has a complete package of accounting features. It has all the features that you basically need, but some extras such as regular software updates, capability to work on multiple languages and flexibility to function on Windows, Mac OS X and even Linux.

It is offline because it’s desktop based. You will download the software and then work on your computer.

The disadvantage is that you have to use your own laptop/desktop in order to work. This set-up works best for businesspersons who rarely work outside the office.

 

Wave Accounting

 

This is one of the most popular free best accounting software products out there right now. It’s accounting software, invoicing software and receipt scanning are all for free!

You can even connect for free with different banks and credit cards with no limit.

The good thing about being popular is that there are a lot of accountants who can use the software, which means that there’s a lot of bookkeepers you can hire.

The invoicing software works with different currencies, and so, even if your operations are international, you can use Wave Accounting. You can even personalize invoices and billings that you send to your clients.

Even when offline, you can capture all the receipts. What’s more? All those scanned receipts are recorded directly as an accounting transaction. That’s so effortless!

 

Zipbooks

 

Simplicity meets affordability.

That’s Zipbooks.

The software is made to be as simple as possible while giving you the best and most needed financial reports.

Aside from the usual financial statements, it also shows you where your money goes. Whether you used cash to purchase, to pay debts or other expenses, you can know it all. Zipbooks gives you an in-depth view of where you spend your company’s money.

To make things even simpler it has a function called auto-categorization to automatically classify your accounts.

It also has the capability to do project accounting. This function is a timesaver if you’re handling more than one project at a time.

Guess what, it can even give you a competitor analysis! You can easily check out how your financials compare with your competitors within your industry.

 

SlickPie

 

This is one of the most feature-filled free accounting software products you can find.

It has different capabilities like the ability to process credit card transactions, as well as PayPal and Stripe. It also has free invoice processing that lets you send invoices online- allows you to have faster billing and faster collection! If you have recurring clients, you can automatically send recurring invoices as well.

Got lots of bills? SlickPie can schedule your bills and even track every expense you have.

It has a lot of other features like sales tax tracking and performance reports.

 

Which best free accounting software should you use?

 

It will depend on your needs.

But, if you’re just starting a business, it’s better to take one of these best free accounting software products first. That is, unless the size of your business suggests that it would be inconvenient for you to use free software (because of limited abilities).

If you can, hire first an accountant before deciding which software to use so that he can help you in choosing.

 

 

About the author

Gene de la Cruz CPA

Gene de la Cruz

As a professional, I aim to help website owners increase their traffic through well-crafted written materials. I have 5+ years experience in accounting, teaching and freelancing. Check out my website at https://bookkeepinganswer.com/