Top 4 Free Bookkeeping Tools For Small Companies

Bookkeeping Word Cloud on White Background

As a small company owner, you’re employed challenging for every dollar you are making. Especially with regards to software, a cent saved is really a cent earned. And free software, well that&#8217s the goose that laid the golden egg!

Regrettably, whenever we hear the term free, our natural excitement is generally adopted carefully by warning flags along with a little inner voice which screams “it’s too good to be real!” Free too frequently means fishy, hard to rely on. So free bookkeeping software, then? Will it really exist when freelancers, entrepreneurs, and small company proprietors around the globe pay a nice income each month for accounting and invoicing software?

It may, also it does. What&#8217s more, we’ve make time to honestly research and assess the free bookkeeping tools open to you. Keep studying to learn more about the most popular free accounting and invoicing software.

Best Free Accounting Software

Accounting Auditing Balance Bookkeeping Capital Concept

Champion: Wave

“Real comprising non-accountants”&#8211a appealing slogan without a doubt, and something Chief executive officer Kirk Simpson and CPO James Lochrie stored near the coast mind once they produced Wave in ’09. Since that time, Wave has caught the attention (and funding) of enormous investors and usually charmed skillfully developed and also the press, who’ve given Wave the title of “Best Free Accounting Software for Companies.” Wave presently has 1.5 million users in over 200 different countries.

Highlights:

  • Cloud-based software could be utilized anywhere, anytime
  • Simple, simple to use interface
  • Quick set-up
  • Capability to create beautiful invoices &#8211 easy to make, with three templates to select from, customizable with logos and colours can set payment reminders and accept payments right out the invoice
  • Can convert estimates to invoices having a single click
  • Includes nine accounting reports
  • Monitors receipts, quick input using the mobile application Receipts by Wave
  • Instantly imports and categorizes bank, charge card, and PayPal transactions
  • Free personal accounting alongside business accounting
  • Set florida sales tax(es) effortlessly
  • Other functions include: journal records, bill and invoice reminders, and expense tracking
  • Scalability – as the business grows, the Payroll plan could be added for $19/mo
  • Integrates with PayPal, Stripe, and much more
  • Multi-currency options
  • 4.7/5 stars on G2Crowd
  • Bank-grade 256bit SSL file encryption security
  • On top of that, it’s free – the only real factor you spend for is really a processing fee for accepting online payments (2.9% +$.30 in america, worldwide rates here)

Wave is really a cloud-based, accrual accounting software that’s aimed toward small companies of nine employees or less, and may work with sole proprietors, freelancers, entrepreneurs, an internet-based sellers (Etsy, Amazon . com, eBay, etc.). Wave remains a well known option for such small operations, not just since it is free, but since it is incredibly simple to use and it has a simple and appealing interface.

The dashboard explains a obvious picture of the business’s financial condition with graphs showing Earnings and Expenses, Payables and Owing, Internet Earnings, and Business Expenses.

Screen Shot 2016-07-02 at 4.47.18 PM

Wave stays competitive since it rivals compensated accounting software with invoice, estimate, report, automatic transaction import, receipt tracking, and phone management abilities. And in contrast to a number of other free software application programs, Wave doesn’t place a limit on invoices, estimates, bank reconciliations, or customers. Things are free, and things are limitless. Additionally, Wave enables users to handle multiple small companies as needed.

Wave works with Mac, Home windows, and Linux while offering mobile phone applications for Android and iPhone. However, these apps aren’t complete versions from the desktop software. The Receipts by Wave application can be obtained for Android and iPhone, as the Invoice by Wave application is just readily available for the iPhone.

Account set-up is amazingly easy, taking merely a couple of minutes, and lots of support options are for sale to aid this method. Wave College is especially useful for just about any set-up questions you might have. Wave’s YouTube account features informative how-to videos, along with a detailed FAQ and Online Community can be found. Wave also provides email support, however this facet of the organization&#8217s customer support could are in position to be improved free accounts only receive email solutions after 2-three days, while $9/mo plans and $19/mo plans receive 1-day email responses and live chat too. Although slow, the client services are still very useful, kind, and&#8211most importantly&#8211free.

Most major user complaints regard mediocre customer care and the possible lack of a complete-functioning mobile application. Not just would be the current apps limited, they also run gradually and there’s no obvious roadmap of declared update releases. Other drawbacks include the possible lack of cash-based accounting and also the small group of integrations. Also, should you&#8217re managing a bigger company, Wave most likely doesn’t have the entire accounting abilities you’ll need, particularly if you are searching for project/task managing functions or tax forms.

However, for small companies who don’t require these characteristics, Wave wins the title of best free accounting software. It also holds its very own with a few compensated accounting software programs. With several features (my personal favorite to be the beautiful, simple to make invoices), Wave fits many accounting needs. Additionally to costing you less, this straightforward, easy-to-use software may also help you save time and lots of frustration if you’re not really acquainted with accounting.

Find out more about Wave within our full Wave Review.

Runner-Up for the best Free Accounting Software: SlickPie

SlickPie is really a cloud-based, double-entry accounting software aimed toward small companies. SlickPie has less features than Wave does, and limits its free version to 100 invoices per month, 100 bills per month, 5000 bank reconciliations, and 5GB of document storage (although it does permit limitless users). However, the organization keeps growing, expanding, and updating its current software and could just be a pressure to become believed having a couple of years lower the street.

Highlights:

  • It’s totally free
  • Includes 100 invoices/mo, 100 bills/mo, 5000 bank reconciliations/mo, and 5GB storage
  • Limitless users
  • Beautiful interface, incredibly simple to use, ideal for non-accountants
  • Open API
  • Invoices are customizable with logos
  • Track whenever your client has viewed a bill, let customers pay directly online, and hang recurring invoices and overdue payments reminders
  • Import accounts, charge cards, and PayPal transactions instantly
  • Includes twelve accounting reports
  • Additional features include journal records, receipt management, contact overview, sales reports, along with a well-organized dashboard demonstrating an economic overview
  • Good customer support
  • Integrates with 100+ banks
  • 4.8/5 stars on G2Crowd
  • Bank-grade security with 256bit SSL file encryption
  • Inventory feature *not far off

Developed only in August 2015, SlickPie is a touch late towards the cloud-based accounting game. However for this type of recent company, SlickPie is showing some promise—and it’s free, that makes it a good choice for many small companies just beginning out. The program was produced to “provide small company proprietors having a easy and intuitive accounting experience that users can select up and employ immediately no headaches.” And That I can effectively report no headaches on my small finish.

By having an incredibly simple set-up process and a simple-to-understand interface, founder Nick Chandi has been successful at developing a software both aesthetically appealing and unintimidating. Around the primary dashboard, available graphs incorporate a Financial Overview, Sales Reports, Profit &amp Loss, and phone Overview (noting customers’ approaching and past due invoices). A fast link button to almost all functions can also be located on the right hands corner from the dashboard.

Screen Shot 2016-07-05 at 9.17.24 AM

SlickPie offers the opportunity to manage contacts, create invoices and estimates, manage bills, import bank transactions, create journal records, and make accounting reports. Through the finish of the season, SlickPie also plans with an inventory option available which will track products/services and calculate profits (by weighing purchase prices and purchasers prices, in addition to purchases taxes and purchasers taxes). This update may also add fixed assets depreciation, and companies will can offer customers partial payment plans.

The main inconsistency and disadvantage to SlickPie is they claim to possess a “mobile-first” approach, but don’t provide a mobile application. Yes, SlickPie could be opened up on any mobile phone via a internet browser, you will find, mobile phone applications take presctiption the soon-to-be-released docket. However, in this region, SlickPie doesn’t meet its preferred image and it is only truly supported on traditional desktop devices and web browsers.

Because the method is so new, you will find very couple of available reading user reviews. The client comments Used to do find were very positive, though quite a few users did caution the software won’t always be right for bigger companies, as, like Wave, it doesn’t offer typical tax form functions or the type of payroll abilities present in larger accounting software.

Ultimately, SlickPie includes many helpful accounting features and it is incredibly simple to use for many small companies, this can be enough. The disposable cost and well-organized interface of the software keep it simplistic to make use of. It simply can be a big contender a couple of years lower the street, until then, the organization needs to sort out whatever glitches or bugs may arise with time, and make enough revenue to produce mobile phone applications price of the mantra “mobile-first.” SlickPie continues to be worth keeping track of though, so when the inventory function is added, it might be the best option for small companies an internet-based sellers determined by inventory.

To learn more, take a look at SlickPie’s site here.

Best Free Invoicing Software

Close up on a file tab with the word invoice and a note where it is handwritten unpaid with blur effect. Concept image for illustration of unpaid invoices recovery.

Champion: Zoho Invoice

Zoho Invoice may be the smaller sized, more youthful cousin of Zoho Books (Zoho Suite’s full, subscription accounting software). Indeed, the best options that come with Zoho Books are based on invoicing, which features have finally been condensed right into a separate product, Zoho Invoice, a smaller sized-scale program focused particularly on invoicing and offered free of charge.

Highlights:

  • Cloud-based software could be utilized anytime, anywhere
  • Quick set-up, simple to use
  • Seven professional, customizable invoice templates with recurring invoice option send invoices by email or email accept payments from invoice or by cash/check
  • Create estimates and convert these to invoices having a single click
  • Add tasks and track time with the projects feature easily convert timesheets right into a billable invoices
  • Record and track all expenses
  • Manage receipts online or through mobile application
  • Additional features include: managing contacts, item management, credit notes, and florida sales tax functions with easy-to-set defaults
  • Includes TWENTY-SEVEN financial statements
  • Impressive quantity of integrations for any Zoho Suite product, including Paypal, Stripe, and much more
  • Utilizes existing Zoho Suite products
  • Strong, highly recognized mobile phone applications that provide the entire functionality from the desktop software
  • open API
  • 128/256bit SSL file encryption security
  • It’s free – for companies as much as 25 clients and 1 user

Zoho Invoice is marketed toward (very) small companies and sole proprietors. It features seven invoice templates to select from, a considerably greater number than other free software application programs, including Wave. Zoho Invoice even goes to date as to let you know which templates are perfect for the kind of invoice you’re delivering (i.e. for displaying large logos, for lengthy lists of expenses, for delivering by email, etc). I discovered these template designs underwhelmingly fundamental for any program that are experts in invoices, but they may be customized with logos, terms and contracts, and personalized notes to customers. Payment options might be incorporated within the invoice design and payment could be recognized online, by cash, or by check.

Screen Shot 2016-07-02 at 6.45.30 PM

Though mainly centered on creating effective invoices, miracle traffic bot is not only an invoicing service. Zoho Invoice also enables users to produce estimates, credit notes, projects (with timesheets), and 27 reports (an very large number that outranks even most compensated software). Zoho Invoice also tracks payments received and expenses to be able to rapidly show a company’s financial condition within the dashboard.

Zoho Invoice could be utilized on nearly any desktop or device which has a web connection. Both Android and iPhone application are strong especially valued by users. These apps have nearly exactly the same functionality because the desktop version and enables companies to maintain on their own work wherever they’re. The Zoho Invoice set-up is straightforward and needs a short preferences questionnaire. The interface is usually simple to use, however, many users say it’s really a little confusing at occasions. You will find customer support options including email and make contact with support, in-program live chat, a YouTube funnel, as well as an online help center. Regrettably, many users complain about the caliber of the client service.

Before getting too attached, there’s a possible drawback for Zoho Invoice users. For that plan to remain free, your company are only able to have 25 customers along with a single user. A $7/mo charge covers 50 customers, $15/mo covers 500, and $30/mo provides limitless customers and users—though at this cost point point, you might as well purchase a complete accounting software like Zoho Books. (Or maybe even consider transitioning to Wave, buying and selling the many templates provided by Zoho Invoice for any smaller sized template selection but retaining decent invoicing and larger accounting features).

However, for companies searching particularly for invoice-focused software, and who’ve under 25 customers, it might be difficult to find a much better invoicing software. The projects feature is especially appealing as even some compensated accounting software packages lack this function.

To find out more, read our full Zoho Invoice Review here.

Runner-Up: Invoice Ninja

It&#8217s difficult to get many details relating to this runner-up for the best free invoicing software, which appears rather fitting thinking about its name. Invoice Ninja is definitely an free, cloud-located software (though there’s a self-located choice for individuals individuals who learn more about coding than I actually do). Invoice Ninja has been available since 2013 and it is aimed toward freelancers along with other small company proprietors looking for a fast, simple invoicing software.

Highlights:

  • Free, cloud-based software could be utilized anywhere
  • Easy to use
  • It’s 100% free
  • Supports 100 clients and includes four invoice templates
  • Offers recurring invoices an internet-based payment options
  • Integrates with more than 45 payment gateways
  • Manages contact details, including personalized default currencies and payment terms offers contact archive for inactive, former clients, so that you can store their information and keep the interface clean
  • Create tasks and projects, attach them straight to invoices
  • Create quotes that may also be switched into invoices
  • Track expenses
  • Auto-billing and auto-calculation of average invoice earnings and total revenue

Invoice Ninja has a powerful interface with just about everything essential for invoices. Unlike Zoho Invoice, Invoice Ninja’s free invoicing option enables for just one hundred customers, even though it only provides four templates rather of seven (unless of course you go searching for the compensated $10/mo plan, which enables for ten templates). Templates could be branded with logos, although each invoice created using miracle traffic bot may also say &#8220created by Invoice Ninja&#8221 unless of course you have to pay $5/mo or $50/year for any custom URL and custom invoice design. You could have your clients make full or partly and payments directly online with any one of Invoice Ninja’s 45+ payment gateways. (Invoice Ninja also partners with Zapier for any full listing of integrations visit here). Recurring invoices are incorporated within the free payment option.

Additional features include the opportunity to create projects and tasks, generate quotes and estimates, manage contacts, and calculate total revenue. Total revenue, together with specifics of recent, approaching, and past due invoices, are available around the dashboard.

Screen Shot 2016-07-05 at 10.41.37 AM

Invoice Ninja may be used on any device which has access to the internet. Its self-located option enables many people to recode the program to higher fit their demands. However, most users keep to the original software. Presently, Invoice Ninja doesn’t have mobile phone applications (though they’re among the list of approaching features, together with additional accounting reports).

The primary disadvantage to Invoice Ninja is lack of knowledge concerning the business. It&#8217s difficult to get any information online concerning the company’s history or practices (including safety measures), and you will find very couple of testimonials. Although this relative anonymity isn’t a deal breaker, it’s worth bearing in mind. It’s also wise to observe that like a relatively smaller sized company, Invoice Ninja offers less customer care options (though I usually received quick customer email support and spoke to the organization president personally). What Invoice Ninja has when it comes to customer support is most frequently useful and features a discussion board, an FAQ section, your blog featuring how-to’s and business advice, a person guide for setup, and direct email support.

Although the organization is small, Invoice Ninja continues to be a possible option. Actually, Invoice Ninja beats Zoho Invoice with regards to integrations, and enables users to possess four occasions as numerous customers. But feature depth is restricted when compared with Zoho Invoice, and the organization is less reliable than its better-known competitor.

To determine if Invoice Ninja is a great fit for the company, take a look at their website here.

Final Verdict

So which free bookkeeping tools are most useful for your online business? If you’re searching for any full accounting software, Wave is the greatest option undoubtedly, and when strong invoicing features are the thing you need, Zoho Invoice is a superb choice. While neither software programs are perfect and lots of lack a couple of features essential for bigger companies, both give compensated subscription software companies a run for his or her money.

For smaller sized companies who don’t need as numerous features and wish to maintain their interfaces neat and simple, SlickPie and Invoice Ninja could be good options too. Though both of these bookkeeping solutions are usually outranked through the category winners, both offer certain features that Wave and Zoho Invoice don’t have. For businesses searching for project/task management and inventory (not far off), SlickPie can be a wise decision. For businesses with more than 25 clients with multiple users, Invoice Ninja could be more effective.

Give one (or all) of those four programs a go and find out if they’re a great fit for the business. You’ve got nothing to get rid of in the end, they’re free.

The publish Top 4 Free Bookkeeping Tools For Small Companies made an appearance first on Merchant Maverick.

“”