“Like many other people affected by the financial crisis, I had difficulty looking for a job to replace the one I lost. And like some of those that were laid off, my response was be an entrepreneur because I don’t think I’ll survive being fired again. It’s just too stressful. But having my own business also means doing my own accounting. Obviously, I don’t have the money to pay for expensive accounting software. Not yet, anyway. I want free online accounting software as much as possible. What options do I have?”
If 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.
If you’re not in a position to shell out cash, worry not. There really are free online accounting software, they exist, and they’re good – easy to use, simple, and free or cheap if you choose to upgrade. But first you’ll need to check these out.
You need to know about paid accounting software available in the market todaybefore you can really say that you want a free solution. You might also want to take a quick look at how the best accounting software stack up against each other. Online articles, such as this one by US Small Business Authority offers these pointers for selecting the right software accounting system.
All of these resources, discuss some common points:
Price is always the primary concern of small businesses. When looking at the price, always take note of these points:
You will then want to make a quick check of the features.
You will also want to check for compatibility and integration.
Here are some of the best choices for free online accounting software.
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.
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.
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