Business owners today like to keep most of their data on digital storage units, and rightly so. There are so many benefits of storing data on Cloud such as availability, backup, and retention. Similarly, business owners these days also like to have a digital bookkeeping and accounting system, to make the job effortless and more efficient than traditional methods.
Owing to the many advantages of bookkeeping software, Business owners are in constant search for the perfect tool, tailored to their needs, which can best handle and adapt to their accounting system. Since there are many such software in the market today, this search might prove to be exhausting. However, to make this software hunt effortless, here we discuss the top 5 free bookkeeping software, most recognized by the industry, so you can choose the one that suits your business.
Akaunting is a free online accounting software for invoicing, tracking expenses, and monetary management. It helps you view all your financials from any device and location, with an open source system, which also ensures the safety of your data and finances. Akaunting offers tools for cashflow, invoicing, reporting, and transaction categories, along with a client portal to accept bulk payments.
Features Offered by Akaunting
- Akaunting allows you to remotely view your financials from any device and location without risking data loss or theft owing to its open source accounting.
- Manage customers by sending them invoices and accept online payments, and set authorization for entering client portals.
- Assign bills and payments to vendors that you create and filter transactions, and manage finances with bills and accuracy.
- Akaunting allows deposits and transfer between accounts to keep an active account balance, and seamlessly manage taxes with convenient names, to specific products.
- Add unlimited bank accounts and deal in different currencies and convert the balance to your currency.
Wave is one of the popular accounting tools, and helps you manage, make, and move your money digitally. It helps you organize your income and expenses, and track monetary advances such as payrolls and invoicing. Wave also lets you create a professional invoices with its Invoice Software, with some advanced features. Moreover, Wave allows you to scan receipts anytime and anywhere with just your mobile phone.
Features Offered by Wave
- Wave allows you to set up credit card payments and switch between automatic and manual payments. Wave sends an invoice or an email receipt accordingly.
- You can also customize your invoices for recurring payments and schedule them for any frequency and time.
- Wave offers customizable invoice templates to bill your clients for any services, and add details for the clients to know what they are paying for.
- Build invoices in Google Docs, Sheets, Word, PDF, and Excel format, and use tips by customers for better interactions with them.
- Wave also offers a smart dashboard and unlimited accounting and invoicing and syncing accounting records.
Zipbooks is a simple, robust, and free accounting software which offers you the tools to enhance your bookkeeping. It allows you to create professional invoices and get paid seamlessly with automated payment reminders, offers you smarter reporting and simple reconciliation with auto categorization, as well as insights to retain the most loyal and profitable customers.
Features Offered by Zipbooks
- Store immaculate accounting records and keep track of what you owe and who owes you, and with the help of smart feedback, know how much the revenue actually is.
- Zipbooks lets you get paid the way you want. It accepts payments from credit cards to automated billing.
- Calculate and record employee payouts, equipment expenses and other costs for running your business seamlessly.
- Expense management is made easy with Zipbooks with the help of billable expenses, save receipts, and split categories.
- Zipbooks offers data driven intelligence and smart features to help retain customers and make faster payments.
SlickPie is another addition to this list of Free Bookkeeping Software, and has rightfully earned its place with its powerful invoicing, billing, and automated data entry tools. MagicBot, its automated data entry tool that helps streamline businesses. Moreover, Expense Management of SlickPie offers all the tools which you could possibly need to monitor finances. Also, SlickPie offers an intuitive and simple interface, which can be used effortlessly.
Features Offered by SlickPie
- Get automated receipt data entry with MagicBot; all you need to do is save your bills or receipts in a dropbox.
- Send online invoices, handle payments and payouts in different currencies, and integrate various payment processors such as Paypal, Stripe, or credit cards.
- Create quotes and monitor expenses, manage bills and taxes, and get live bank feedbacks to track your expenses.
- SlickPie allows you to set up recurring invoices and late payment reminders as well as creates financial reports for you to get insights.
- SlickPie also allows for its use by multiple companies and users, and offers bank grade security with full support.
CloudBooks is a bookkeeping and invoicing application trusted by small businesses all around the world. It helps users manage invoices, expenses, and projects for SMEs as well as freelancers. Moreover, you can send automated payment reminders, accept faster payments, and offer your clients a professional experience like never before.
Features Offered by CloudBooks
- Invoicing made custom with tools which help you brand, control, accept recurring payments, all in one place.
- CloudBooks' project management allows you to manage teams and communications, for seamless project management.
- Track your employees' working hours and know where your time is majorly spent.
- CloudBooks also allows you to track expenses and ensure they are spent wisely. Also, record your expenses and attach receipts to view later.
- Get comprehensive reports for an all round view of your business with expenses, profit/loss, payments, and invoiced tasks.