If you are someone who has recently set up or has been running a small business for some time, as a business owner you must be aware of the challenges that come with it. All the nitty-gritty, taking care of every single detail and managing everything almost alone can get quite daunting. Maintaining different kinds of balance sheets and keeping a track of all bank accounts, managing cash flow can be very time-consuming and that times intimidating.
Wouldn’t it be great if we had access to tools that could take a big chunk of work off our shoulders? Today we would be talking about Free accounting software for small businesses, which might come in handy in managing financial reports and logistics for every small business owner or associate.
Here we have discussed a few accounting software that can be your business’s accounting tools that can help you with Mandan tasks like generating financial statements, creating professional invoices, expense management, inventory management, etc. From the variety of accounting software options, available online.
Free Accounting Software for Small businesses
1. Wave Accounting
The first Software that we would talk about is, ‘Wave Accounting’
Wave Accounting is comparatively well-tested and is a reliable option in all fairness. It’s pretty accessible and intuitive to use and can also be used by absolute beginners.
Its entire accounting catalog is available free of cost, using which one can execute unlimited income and expense tracking, create unlimited invoices, run multiple businesses from a single account, and access unlimited bank and credit card connections.
There are some minute problems with this software nevertheless, for example, it doesn’t allow users to track accounts payable and it does not have a comprehensive Mobile app yet.
Even with these issues, Wave has amazing accounting features which give all its competing software a good run for its money and come out to be an excellent choice for all the accounting needs of a small enterprise.
Currently, this program is only available to its US customers, making it inaccessible to users in India. Only time will tell if or not they start their services in this part of the globe
The next Software that we’ll talk about is called GNUCash.
GNUCash is a free, open-source software that can be used with Linux, Windows and Mac-OS systems users. It’s decent for someone who is starting out, but this program is not equipped for a business that’s set to go the distance, growth wise.
It can easily help one in their day-to-day financial planning, so if you are someone who fits this description, you can check this software out and see how you like it.
This software is free, but it comes with its set of shortcomings and challenges, like for starters, it’s interface looks quite dated and dull, it’s not in sync with the current day user interface aesthetics and ease of use. Secondly, installing this software can get a bit tricky and is not as straightforward as its counterparts.
The biggest challenge with this software in my opinion is the total absence of any customer support what-so-ever. These things make this software a not so likely pick for a general user.
The last one that we would be talking about is this software called ‘ProfitBooks’.
ProfitBooks is an exciting software that we have come across. It’s an online accounting software that is quite simple to use.
It’s quite user-friendly and is a holistic solution to tackle all your financial management and accounting needs, that too with no specialized knowledge or prior experience in finance management.
They also provide integrated bookkeeping services, which means that once the financial data is shared through the interface, their team takes care of the accounting.
Profitbooks can also be used as invoicing software with the help of our 8 government-approved GST temples.
With the help of profitbooks, you can also use features like inventory tracking for multiple warehouses.
These key features help an owner in managing the business well and are on track with the ongoings of their enterprise. One can also link a third-party payment gateway which will enable you to make and receive online payments with the ProfitBooks interface.
ProfitBooks offers its ‘Startup’ plan free of cost to business owners. Users can create invoices, track expenses and manage taxes easily. There is a restriction on several invoices that can be created every month. But most businesses can use this plan without hitting the caps. With profit books, you can use advanced features that other software charge a vast sum for, free of cost with our ‘startup’ plan.
When businesses grow and create more invoices, they upgrade their account to remove all the restrictions. Pricing starts from INR 499 per month for the Indian user or 15 USD monthly for users elsewhere.
ProfitBooks has a robust customer support team, which indeed is very prompt and responsive.
To sum it up..
All in all, ProfitBooks is an overall good choice and one should strongly consider it if they own a small to mid-sized business, they should look into the software and use it for the day-to-day and long-term accounting needs of their enterprise.
At profitbooks, we believe in empowering all kinds of micro, small, and medium-sized businesses, by making accounting programs easy, quick, and convenient for everyone regardless of their experience in accounting.
Find out how ProfitBooks can help you with your accounting needs! Create your account for free today.
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