Best Free Small Business Accounting Software: Can A Free System Work For Your Company?

Category: Accounting Software

“I’ve finally decided to throw the towel in and quit the rat race. Working 9 to 5 is just too stressful and I know, deep in my heart, that no matter how much I try and however successful I become, working for someone else is simply not for me. The resentment will build and I will explode. I’ve decided to use my considerable coding skills to build mobile applications, initially from the comfort of home. One of the earliest advices I got was to make sure that I had bookkeeping system in place right from the start. I know there are a lot of accounting software systems in the market right now, but I’m not looking to buy. I’m sure that there are systems out there that are free, simple, and easy to use. I’ll go for cheap if I really need to buy one, but free is always better. What are my options for the best free small business accounting software? ”

— Damien

qnaIf you are a small business owner, there is nothing more important than knowing whether you’re making more than you’re spending. Unless you have that information, you won’t be in you won’t be in business for long. Most businesses, even the tiniest ones, use some kind of computerized accounting software to keep their financial records in order.

The range of accounting software runs from the very simple to the extremely complex. for large corporations. You definitely don’t want more features than you need but you do want everything that you need to be there. You need to know exactly what features you need from an accounting system. Do you sell products? If you do, you will need inventory tracking in your accounting software package. Do you have employees? If so, you will need a payroll system in your software.

Here’s a quick comparison of the best accounting softwarefor small businesses available today. We sampled a few of the systems listed on this page and discussed them in greater detail below. Another page on the same site also provides helpful tips on what to look for in accounting software and how to find one that best suits your needs.

If you’re not in a position to shell out cash, worry not. The best free small business accounting software really do exist, and they’re good – easy to use, simple, and free or cheap if you choose to upgrade. Here are a few examples.

FreshBooks is your most cost-effective choice if you run a small business. It allows small business owners to be up and running with invoices and estimates in just a few hours. You can set up late payment reminders so that your delinquent clients are reminded by email automatically. You can build tasks around projects and use this to log the time you’ve worked. This is very handy if you want to organize your activities around projects, and assign a cost to the time you’re spending on this project. And yes, FreshBooks is has a free trial period of 30 days, which is enough to let your explore all its functions. And it remains free forever for up to three clients. You only need to pay if your business grows and you need to add more clients.

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Outright helps you tracks income and expenses, create reports, and it uses that data to give you an estimate of what you might owe in taxes. Outright does things for free, with a clean and uncluttered user interface that’s a joy to navigate.

GNUCash is an absolutely free program that’s great if you don’t mind importing some numbers into MS Excel to get the proper reports. Of course you will need some knowledge of spreadsheets to do this.

Financial software expertShelley Elmbladsays that you shouldalso consider business accounting software that grows via module integration or software upgrades. This is perfect for small businesses that aims to expand and broaden their reach in the future.

Whether you go for absolutely free or finally settle on a paid software accounting system always remember that “best fit” is better than “best.” Take time to find one that’s the perfect fit.

P.S. For further reading I recommend the following posts about: the most popular accounting software, is professional accounting software for you? and how to select the right best accounting software.

By Nestor Gilbert

Senior writer for FinancesOnline. If he is not writing about the booming SaaS and B2B industry, with special focus on developments in CRM and business intelligence software spaces, he is editing manuscripts for aspiring and veteran authors. He has compiled years of experience editing book titles and writing for popular marketing and technical publications.

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