Are you a small business or startup struggling to keep your accounts in order? Don’t worry, there are plenty of tools out there that can help you with your accounting needs – and many of them are free! Keeping a record of your own accounts has never been easier.
Using accounting tools doesn’t have to be difficult. There are plenty of basic accounting tools out there that will be able to meet the requirements of your small business. Read on to find out about the best free accounting tools for small businesses.
Wave offers a free, financial accounting software package that empowers small business owners to keep track of their own accounts. Wave has been dubbed “the best free small business accounting website” by PC Mag and is renowned for being a powerful accounting software, despite being free to use.
You’ll be able to connect your bank accounts, sync your expenses, balance your books and ultimately prepare everything ready for your tax returns. Wave is slick to use and is completely cloud-based, making it ideal for everyone, from startups and entrepreneurs to small businesses and freelancers.
Healthy cash flow is so important to the long-term success of a small business 💸. Our latest blog post explains what cash flow really means and how to stay in control of it. https://t.co/EUEfvNRHDs
— Wave HQ (@WaveHQ) December 15, 2018
2. Quick File
The clue is in the name. QuickFile is designed to make accounting as quick as possible. It is a simple software program that allows you to automate certain aspects of your accounting, such as invoicing. If you’re looking for an easy-to-use software package, that’s completely free and allows you to conduct online payments, then QuickFile could be the perfect accounting tool for your business.
— QuickFile (@QuickFile) July 13, 2018
TurboCash is an open source accounting program that you can download straight to your desktop. You can use the free version of the software to invoice, control stock, carry out VAT accounting and manage balance sheets. It’ll even let you run a range of accounting-based reports.
You can utilise TurboCash without access to the internet, or even access it on your phone or tablet, making it a great option for small business owners who are always on the move.
Similarly to TurboCash, GnuCash is a free, open source accounting program that you can download straight to your desktop. The software prides itself on being easy to use, with an extremely user-friendly interface. Its capability to produce a wide range of reports, graphs and carry out advanced financial calculations is what makes GnuCash one of the best accounting tools for small businesses.
Both TurboCash and GnuCash are available on Linux, Microsoft Windows and Mac OS.
5. Money Manager EX
This well-designed software offers enough features to rival most premium software packages. It has an impressively simple user interface and can be used straight from a USB stick. Money Manager EX will allow your business to create credit card, savings and asset accounts; generate budget and cash flow forecasts; and generate reports, graphs and pie charts with just one click.
If you’re a small business, or a startup, looking to organise your finances and keep track of where your money is going, Money Manager EX could be the best accounting tool for you.
Do encourage a upgrade to 1.3.x series which is more powerful and stable pic.twitter.com/weByLVFQ9q
— MoneyManagerEx (@MoneyManagerEx) December 15, 2018
Hire an accountant and grow your business
Free accounting software is great, but it does have its limitations. If you don’t have the time to keep on top of your accounting, or perhaps require more than any free accounting software has to offer, why not hire an external accountancy firm to do it for you?
Hiring an accountant means you won’t have to deal with the technical side of accounting, which can sometimes be confusing, and you’ll have more time to spend on maintaining and growing your business.
If your business is growing rapidly, and you are outgrowing your home office or existing premises, it might be time to expand your office space.
Here at Accelerate Places, we provide office spaces that allow ambitious companies to focus and grow. With three flexible office spaces in the UK, including our shared workspace Manchester, you’re never too far from a new office environment that could spark your creativity and help grow your business.