Small business owners are always looking for ways to make their work simpler. Some do this by using wholesale websites, while others use accounting software to record transactions. This allows them to focus on other aspects of running a small business. Of all the accounting software available, I’ve identified the following as the top options.
Here are the best Accounting softwaree in South Africa.
FNB instant free accounting software
This accounting software is free for FNB business account holders. One of the best all-round free software in South Africa, FNB instant accounting has a variety of features to help you run your day to day business finance.
The software is capable of storing all your clients and creditors and it is linked to your business account. Whenever you make a payment to a third-party you can record the transaction instantly. It helps with managing your employees’ salaries so you can perform monthly debit orders for employees’ salaries and make automatic data captures to relevant accounts.
The software also helps with your VAT calculations, using this function you will cut off your VAT accounting costs and do it yourself. You will be able to pay all your SARS bills using this software such as paying PAYE, Skills Development Levy, and UIF for employees and directors.
WAVE accounting Software
WAVE is a Canadian based company that operates worldwide and provides services in finance and small business software. WAVE accounting software is probably the best free accounting software in the world.
The software is very user friendly and can be easily used by anyone interested. The software can be easily optimized to use the tax framework of South Africa. WAVE uses International Financial Reporting Standards for financial statements so it is reliable especially if your company is practicing world best standards.
This software will help you with your invoicing needs, payroll, and accounting entries to the financial statements. WAVE will charge you for making online payments as part of their value-added services.
GnuCash Free Accounting Software
GnuCash is open-source accounting software and it is freely available to anyone who wants to make use of it. GnuCash is available for Linux, Microsoft, and Mac OS. GnuCash can be optimized to fit South African standards of accounting and has built-in IFRS and GAAP functions. There is more to benefit from using this software and the benefit is not only monetary but also the quality of output that the software offer. Further benefits include
- Double-Entry Accounting
- Stock/Bond/Mutual Fund Accounts
- Small-Business Accounting
- Reports, Graphs
- QIF/OFX/HBCI Import, Transaction Matching
- Scheduled Transactions
- Financial Calculations
If you are looking for multicurrency free accounting software that is linked to your business bank account and offers flexibility then GnuCash is for you.
xTuple PostBooks
PostBooks is a free accounting software developed by xTuple. This software is best suited for manufacturing companies so if you are a manufacturer than PostBooks is for you.
With PostBooks you will not only be able to manage your accounting entries but you will also be able to manage your inventory and debtors with are the most key factors to your business success. You will also be able to manage your purchases and work in progress inventory so that you can run your manufacturing process efficiently.
XTuple PostBooks has value-added features that are offered at a price such as a customer relationship management and sales management.
FreshBooks
- Available for: Web application
- Mobile app: Android, iOS
- Price: Plans begin at $15 per month
- Free trial length: 30 days
- Shopify app or integration: Yes
One of the most popular and well-known small business accounting tools available today is FreshBooks.
Many of FreshBooks’ tools feature smart assistive technologies and automations designed to make bookkeeping easy. FreshBooks can be configured to automatically reconcile credit and debit amounts and can automatically import financial data from a range of sources. Users can also adjust access permissions on an individual basis. For example, employees can be granted limited access to financial reports, while you can give your accountants administrator privileges.
Pricing starts at $15 per user per month for the Lite plan.
Wave
- Available for: Web application
- Mobile app: Android, iOS
- Price: Free
- Free trial length: N/A
- Shopify app or integration: No
Many of the small business accounting software tools we’ve looked at so far have been inexpensive. But for newly launched independent businesses, even inexpensive can be a little too much initially. Wave, an accounting tool designed for small businesses, understands that problem, which is why Wave is 100% free.
Available for Windows and OS X, and with Android and iOS apps for invoicing and receipts, Wave is ideal for independent businesses still finding their feet. Wave can do almost everything premium accounting software tools can do, including expense management, banking reconciliation, payroll, and invoicing.
If all this sounds too good to be true, sign up for a free account and see how Wave can help you manage your business’ accounts in less time––all without spending a dime.
Sage 50cloud
- Available for: Web application
- Mobile app: No
- Price: Plans begin at £65 (approx. US$82) per month
- Free trial length: 30 days
- Shopify app or integration: No
Sage 50cloud Accounting is a comprehensive, cloud-based accounting software product with extensive customization options and advanced functionality.
The product’s Pro Accounting plan––the least expensive option, available for $50.58 per month––is aimed at smaller, independent businesses. It can handle a range of accounting tasks, including expense management, invoicing, and inventory tracking. Sage 50cloud Accounting also integrates seamlessly with Microsoft Office.
Sage’s other plans offer additional features, such as role-based security privileges and account management for multiple companies, but may be prohibitive for smaller businesses with more modest administrative budgets.
Kashoo
- Available for: Web application
- Mobile app: iOS
- Price: Plans begin at $16.65 per month
- Free trial length: 14 days
- Shopify app or integration: No
Kashoo is small business accounting software that aims to help business owners automate much of the administrative work behind bookkeeping.
Thanks to machine-learning algorithms, Kashoo understands your business better the more you use it. Everything from receipt categorization to sales tax tracking is analyzed by Kashoo, which lets the tool make individualized recommendations on steps to save money, minimize waste, and streamline overall efficiency.
Kashoo’s intelligent, automated approach to accounting won’t be for everybody. Kashoo costs $199 per year (about $16 a month), but business owners interested in its approach to bookkeeping can sign up for a free trial.
ZipBooks
- Available for: Web application
- Mobile app: iOS
- Price: Plans begin at $15 per month
- Free trial length: 30 days
- Shopify app or integration: No
Aimed at business owners who might lack experience with bookkeeping, ZipBooks is a simple, lightweight small business accounting software tool that takes the headache out of accurate accounting.
ZipBooks keeps everything as simple as possible. The product emphasizes the basics, such as accounts receivables, so users won’t be surprised by any complicated menus or intimidating features. ZipBooks’ statements and reports are similarly clean and minimal, focusing on the essential information entrepreneurs need to run their business.
The product’s Starter plan is free and includes unlimited invoicing, basic reporting, and a single bank account connection. Additional plans start at $15 per month.
Holded
- Available for: Web application
- Mobile app: Android, iOS
- Price: Plans begin at 10€ (approx. US$13) per month
- Free trial length: 14 days
- Shopify app or integration: Yes
Even simple accounting can be time consuming, which is why Holded aims to automate much of the busywork inherent to bookkeeping so you can get on with actually running your business.
Holded is a cloud-based accounting tool that offers real-time insights into the finances of your business. Users can integrate Holded’s general ledger with a range of financial data sources to provide at-a-glance overviews of profits and losses, forecasting and reporting, and detailed accounting histories, all with just a few clicks.
Holded is a deeply integrated accounting solution that offers major time savings. Pricing starts at roughly $11 per month, with a 14-day free trial.
Conclusion
We live in a world full of apps. You can create a blog, review products and restaurants, track your flights and order food on such apps. There are countless options to choose from for whatever you need. And, therefore, so many choices can be overwhelming and will leave you with much uncertainty. So much so that you don’t even know where to start because all the options seem so similar and there is no one clear product that’s “the best.” Yes, it’s much easier to just browse people’s reviews and then decide which product or app is the best one for you.