Top 5 Accounting Software for Small Business Free in 2021
As a small business owner, utilizing the right accounting software can mean the difference between success and failure. With so many options available, it can be overwhelming to choose the right one for your business. To ease your selection process, we’ve compiled a list of the top 5 accounting software for small businesses that are free to use in 2021.
1. Wave
Wave is a completely free accounting software aimed at small businesses with less than nine employees. This cloud-based software provides entrepreneurs with a user-friendly interface for managing bookkeeping, invoicing, and payroll.
Wave has a plethora of features, including automatic syncing with business bank accounts, credit card processing, and receipt scanning. It also enables users to manage accounts payables and track expenses, all while generating reports that can help make informed business decisions.
2. GnuCash
GnuCash is a free, open-source accounting software that’s ideal for freelancers, small businesses, and personal use. It has a double-entry accounting feature that allows users to create invoices, track expenses, and reconcile accounts.
The software also has a finance management feature that enables users to manage stocks, bonds, and mutual funds, all while providing financial reports. In addition, GnuCash syncs bank accounts automatically, making it easy to budget and view your overall financial position.
3. ZipBooks
ZipBooks offers a free accounting software solution for small business owners that includes invoicing, estimates, time tracking, and financial reports. It also features a simple dashboard that provides a high-level overview of income, expenses, and the overall financial status of your business.
Users can easily connect their business bank accounts to the software and track expenses by category, use automated billing to get paid on time, and access helpful notifications and alerts. With ZipBooks, small business owners can also monitor their cash flow, view sales tax reports, and collaborate with teams.
4. Manager
Manager is a free accounting software that’s designed for small businesses that need support for both product and service-based accounting. The software allows users to handle invoices, track expenses, and reconcile bank accounts easily.
Manager boasts of a user-friendly interface, and users can add bank accounts and credit cards to the software to manage business finances. The software generates reports like balance sheets, income statements, and cash flow statements, which help small businesses make informed financial decisions.
5. Akaunting
Akaunting is another free accounting software solution designed specifically for small businesses. With Akaunting, users can create invoices, track expenses, and manage accounts payable.
The software is entirely web-based, making it easy to access financial data from any location worldwide. Akaunting also offers integrations with other add-ons that assist in analyzing business data. It may also enable users to provide live updates as necessary, all while generating reports to streamline financial performance.
Conclusion
Selecting the right accounting software for your small business is critical in your business’s success. These top 5 free accounting software applications- Wave, GnuCash, ZipBooks, Manager, and Akaunting- offer different features that suit different business needs. However, they all allow small business owners to manage their finances efficiently, generate reports, track expenses, and much more. So it is advisable to choose the software that best suits your specific business needs and allows for scalability and growth.
