Best Free Accounting Software (Part 1)

Posted on Posted in Accounting Software, Finance, Money

Best Free Personal and Business Accounting Software (Part 1)*

Running a business or your personal financial life without a basic knowledge of accounting (ledger, entries, accounts, cashbooks, reports, balance, income, sales, payments, stock, bookkeeping, etc.) is like driving a car without a speedometer. You are in the dark as to the financial speed rate at which you (or your business) are traveling.

 In the case of a small business, it’s vitally important to have an accounting system to get a true financial picture. Is your business in the red or in the black? Your income vs expense statements only can give an accurate answer. When you start out, your business budget may be on a shoestring and cannot afford a fancy accounting system. Of that, we are cognizant; but finding free accounting software with no strings attached seems to be a daunting task. Fortunately, we scour the accounting planet to bring you a compilation of the best free accounting software.

Free, of course, has its shortcomings feature-wise. If you run a tight ship, assuming you are managing a profitable business, a full-featured financial accounting system/software, to overcome the limitations of free accounting software, should be within the realm of affordability in short order, should the need arise. Until then, enjoy the free accounting software ride.

Ledger

Ledger is a free accounting software for general ledger, cashbook, or double-entry bookkeeping. It’s easy and simple to use. It even comes with video tutorials.

  • The Ledger” side has Entries, Accounts and Cashbooks;
  • The Reports side sports Balance, Income and Graph.

Ledger can be upgraded to LedgerPlus professional accounting system for a fee.

GnuCash◊

GnuCash is a free accounting software for personal and small business use. You can create accounts for:

  • Assets (accounts receivable, cash in wallet, petty cash, checking accounts, saving accounts, etc.)
  • Liabilities (loans, credit card debts, accounts payable, etc.),
  • Income (dividends, interest income, salary, etc.),
  • Expenses (food, auto, gas, rent, child care, etc.)

It comes with  in English, German and Italian; The GnuCash Tutorials and Concepts Guide Manual in English, German, Italian and Japanese; Tip of the Day at Startup on “funds transfer between accounts with different currencies”, “packing multiple reports into a single window”, etc.

TurboCASH

TurboCASH is an open source free accounting software for small business available in 25 languages,

To lessen the steepness of the accounting learning curve, a free tutorial is provided: TurboCASH 4 TUTORIAL

Read: How to Get Personal Credit

 JGnash

JGnash is a free open source double-entry personal accounting software with features similar to those of commercially available accounting software. It is cross platform (Linux, Mac OSX, and Microsoft Windows), supports multiple currencies, and imports OFX (Open Financial Exchange) and QIF (Quicken Interchange Format) files.

Grisbi

Grisbi is a free open source personal finance management software. It can manage multiple accounts and currencies, and has French manuals: Grisbi Manual (Grisbi Manuel), Grisbi Manuel

HomeBank

HomeBank is a free accounting software to help you manage and analyze your personal finance. It is translated in 50 languages, and its slogan is “Free, easy, personal accounting for everyone.”

myMoney

myMoney is a bookeeping system that tracks income and expenses to let you “live beyond your means, but within your budget” (our words). myMoney is suitable for small business and personal finance.

Easy Cash Manager

Easy Cash Manager is an old bookkeeping program compatible with Windows XP, Windows Vista and Windows 7.


KmyMoney

KMyMoney is a free personal finance software to help you manage your money by categorizing your expenses. Its supports online banking, multiple currencies, different account types, budgeting, and its operation is similar to Quicken.

KBooks

Kbooks is a free accounting and bookkeeping software for “small and medium sized businesses”.

Nevitium Invoice Manager

Nevitium Invoice Manager is a free invoice and quote generating software that provides detailed reports on purchases, sales, invoices, inventory, revenue, etc. with built-in PDF output. Data can be exported to standard text format (cvs). A Prepaid Account Manager tracks gift cards in-house accounts. Support is free with a paid option.

SSuite Office- My Money

Ssuite Office-My Money is another simple Personal Finance Manager available in English and French. Unlimited accounts can be created to track income and expenses transactions in relation to your accounts.

Ssuite Office – Ezinvoice Creator

Ssuite Office-Ezinvoice Creator is a point-and-click invoice creating software for small businesses. You can track Unpaid and Canceled Invoices, Revenue Per Customer, Month End Statements, etc.

Ssuite Office – Invoice Master

Ssuite Office-Invoice Master is another easy invoice, report, and quote creating software that is also TAX and VAT systems compatible.

Grassland Invoicing

Grassland Invoicing is a free Invoice Software loaded with features: Quotation Issuance, Conversion of Quote to Invoice, Documents Exported to PDF, MS Excel and MS Word, Payments Management, Inventory Sales Report, Email Documents Directly, etc. “It offers great flexibility to entrepreneurs”.

No Simpler Accounting

No Simpler Accounting is a simple to use Accounting Software for Incomes and Expenses. No bells and whistles, just what you need to manage basic financial transactions.

BS1 Accounting

BS1 Accounting with Delphi Code Source is an upgradable free Accounting Software for Small Business: Its basic features are Accounts Payable, Accounts Receivable, General Ledger, Inventory and Sales Analysis. BS1 General Ledger Software, a separate part of BS1 Accounting, is freely available. BS1 Professional Time Billing Software is also free.

The foregoing list of Free Accounting Software is far from being exhaustive. We hope that the first installment of Best Free Accounting Software (Part 1)  has been enjoyable, informative and useful in your view*. Stay tuned for the second installment of Best Free Accounting Software (Part 2), coming soon.


Great news!  Best Free Accounting Software (Part 2) has just been published. Read it NOW!

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Don’t forget: How to Get Business Credit

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