Offline Accounting software or Online Accounting software, depends on the tips and tricks of each. Today we want to share to you best free accounting software for small business. It also provides offline setup and online setup as free download.
Offline accounting software free download enables you to record your business transactions, create invoice forms, send emails, view reports and take care of your accounting manually. You can also compare the best accounting software for small business.
Wave
A top free accounting software to consider from the start of your search is Wave accounting software. Through this option, you’ll be able to connect unlimited bank and credit card accounts to your books. You’ll also be able to add unlimited income tracking, expense tracking, and guest collaborators for free. Plus, you’ll be able to invoice and scan receipts for free as well.
Be sure to note, though: If you want your invoiced customers to be able to pay online directly through the invoice, you’ll need to pay for that. Wave charges 2.9% + $0.30 for each credit card payment and 1% (with a minimum of $1) for each ACH payment. You’ll also need to pay for payroll through Wave. Depending on where you do business, you’ll pay a monthly base fee of either $35 or $20, plus $4 per employee and contractor on your payroll.
QuickBooks Online
QuickBooks Online is the best overall accounting software for small businesses of those reviewed. Not only do the majority of small business accounting professionals use QuickBooks Online, but there are also endless online training resources and forums to get support when needed. All accounting features can be conveniently accessed on one main dashboard, making bookkeeping more fluid and efficient.Pros
- Scalable
- Commonly used by accounting professionals
- Integration with third-party applications
- Cloud-based
- Mobile app
Cons
- Upgrade required for more users
- Occasional syncing problems with banks and credit cards
Intuit’s QuickBooks Online has been the most common accounting software used by small businesses and their bookkeeping and tax professionals. The software is cloud-based and can be accessed through a web browser or through the mobile app.
After the 30-day free trial, the four options for subscription plans include: Simple Start at $25 per month, Essentials at $40 per month, Plus at $70 per month, and Advanced at $150 per month. Typically there is a significant discount offered for the first few months, and some accountants are able to offer wholesale pricing to small businesses, as well.
The monthly subscription for this software can be upgraded as a business grows, and there are many customization options with the mobile app that can be used to receive payments, review reports, capture an image of a receipt, and track business mileage. For businesses looking for a payroll solution, QuickBooks Payroll fully integrates with QuickBooks Online.
Each plan offers more advanced features like inventory management, time tracking, additional users, and budgeting. Most service-based small businesses will find that Simple Start meets all of their needs. For product-based small businesses, Essentials or Plus will have more options for inventory and customizations. The Advanced subscription is a new offering and provides robust financial reporting that is powered by Fathom. Fathom is an elite online financial report analysis tool used by many large companies all over the world.
All plans allow integration with third-party apps such as Stripe or PayPal. QuickBooks Online’s app store breaks down all of their apps by function and provides helpful examples of the benefits of each app.
ZipBooks
Pros:
- Ability to send unlimited invoices, manage unlimited vendors and accept digital payments.
- Task, time and project tracking.
- Can work with third-party online payment platforms.
Cons:
- Payments and payroll integrations cost extra.
- Overall lack of integrations with other platforms.
- Lack of advanced features.
Why we like it:
ZipBooks provides a great set of features at a price that works for small-scale businesses or companies in their early stages that don’t necessarily need much in order to manage their finances. ZipBooks’ Starter plan is free, with two higher-level tiers that include more sophisticated features for a flat monthly fee, as well as a custom-priced Accountant plan. The ZipBooks Starter plan includes unlimited and customizable invoices, estimates and price quotes. You’ll also get a virtual dashboard to keep track of your business’s outstanding and paid invoices, as well as your overall finances. Plus, if you like ZipBooks Starter, you can always upgrade to a more feature-laden plan as your business grows.
There are a few downsides to ZipBooks, however. You’re limited to one bank account connection, unlike other free accounting software platforms that are more generous. If you want to use ZipBooks’ integration with Square and PayPal, you’ll have to pay credit card processing fees, just as you would with Wave.
Zoho Books
Zoho Books is an exceptional business accounting tool that appeals to small and growing businesses. After all, it’s a cloud-based tool dedicated to integrating online productivity apps.
Zoho’s primary advantage is its ecosystem, where many other Zoho applications can be integrated and managed from the same account.
Besides accounting software, Zoho provides Mail, CRM, Marketing and other business tools.
It features automated processes such as payment reminders, notifications for certain transactions and workflows, and report scheduling.
Pros:
- Zoho Books is very affordable and easy to set up.
- Other Zoho software has integration with Zoho Books.
Cons:
- Zoho is not a Canadian company, so it may need extra customization for Canada, for example, setting up correct taxes
Akaunting
You should also consider a free accounting software called Akaunting. This option offers many of the most necessary features that a small business accounting software should. Within this technology, you’ll be able to invoice, sync accounts, track expenses, set up recurring bills, manage customers, and manage vendors. However, to access more advanced features like online payments, for example, you’ll have to download third-party apps that will cost you a yearly fee on top of whatever fees you have to pay for this third-party account.
Long story short, creating an Akaunting account won’t cost you anything, but as you navigate this software, you’ll realize that all the capabilities that you might expect to be ready-to-use will rely on your purchasing these third-party apps.
Xero
Xero is the best in our review for micro-businesses that are looking for very simple accounting software. This software has a clean interface and also fully integrates with a third-party payroll service. Businesses can collect payment online from customers through Xero’s integration with Stripe and GoCardless.Pros
- Cloud-based
- Mobile app
- Payroll integration with Gusto
- Third-party app marketplace
- Simple inventory management
Cons
- Limited reporting
- Fees charged for ACH payments
- Limited customer service
Xero was founded in 2006 in New Zealand and now has over two million users worldwide. This accounting software is popular in New Zealand, Australia, and the United Kingdom. Xero has over 3,000 employees and is growing rapidly in the U.S., as well.
Xero offers three monthly subscription options and a full-service payroll add-on: Early at $11 per month, Growing at $32 per month, and Established at $62 per month. The full-service payroll option is offered through Gusto and is an additional $39 per month, plus $6 per employee. The company offers a 30-day free trial and a promotion for 50% off for two months.
The Early plan limits usage and only allows entry for five invoices or quotes, five bills, and reconciliation of 20 bank transactions per month. This limited plan may be suitable for a micro-business with high-ticket transactions, but only a few per month, such as a consulting or small service provider. Both the Growing and Established plans offer unlimited invoices, bills, and transactions. The only difference between the two is that the Established plan has additional features like multi-currency, expense management, and project costing. All three plans offer Hubdoc, a bill and receipt capture solution.
Conclusion:
With these Accounting Software, you can be up and running in no time. They offer powerful accounting features, including invoicing, inventory management, payroll, and reporting. With these free cloud based accounting software, small business owners can perform just about any sort of job or business while saving money with easy-to-use business management tools by Intuit.