Personal and Small Business Accounting Software
The best home accounting software will help you device a saving plan and get ahead of your expenses or even give you guidelines on how to invest. There’s no need of hiring a home accountant to manage home expenses. All you need to do is acquire one of these accounting software and see yourself save that cost.
Personal and Small Business Accounting Software
No 1: FreshBooks
The appealing thing about FreshBooks is its intuitive including polished web service. It’s a top home business accounting software. It offers improved UX or user experience. Also, it provides easy-to-navigate platform, improved collaboration and deliver product enhancements swiftly. It’s also very pocket friendly; only at $15 monthly.
The upcoming version will offer other add-ons, for instance, non-invoice revenue recordings, extra partner integrations, bank reconciliation including the expanded reporting. Users can choose the modern or classic versions. It provides great invoicing tools.
It’s a challenge using latest versions, especially if you are a newbie. Even though the new FreshBooks is loaded with instinctive navigation tools and has unique design, there are a lot of cool stuff that are missing, for example, service products, product records just to mention a few.
- Enhanced user-experience
- Up-to-date collaboration estimates/projects/tools.
- Suitable for various businesses.
- The settings are entirely context-sensitive
- Service records/product records are missing
- Does not offer options for tracking inventory
- The customers’ records are never expansive
No 2: YNAB
This is an exceptional accounting software for home use. It has been designed for budget creation based on ones’ specific goals. In addition, it’s highly flexible which makes it suitable when emergencies strike. Moreover, it synchronizes ones’ bank accounts and gives accurate and real-time financial details. Importantly, it generates graphs including charts automatically. That said, keeping track of your financial progress is completely hassle free.
Specifically, it’s a budgeting tool, and it does not perform functions such as investment and taxation.
- This accounting software is easy to operate at home.
- The customer care services responsiveness is commendable.
- The user interface of this software is great.
- It offers a variety of features, all in one package
- It might not be of high relevance to someone who does not have some accounting skills.
- Requires internet connections which is not readily available in some areas.
- Contains a lot of ads which are sometimes irritating.
No 3: KeepSoft
KeepSoft is accounting software for home used to assess personal finances, manage debts as well as track expenses or income. Thus, it’s expressly essential for planning forthcoming expenses. Moreover, you really do not need to be a computer guru to use it. Its interface’s simple to use.
The software comes full with helpful features. For instance:
- Calculator: For calculating the money entered.
- Labeled graphs: Displaying the amount of money saved and used.
Users can create password to protect their sensitive details.
- It’s easy to use and operate.
- Has a mobile application which makes it relevant even to those who do not have access to a computer device.
- Has a great user interface.
- The customer care of this software is very responsive.
- Does not support format of many financial applications, for example Microsoft Money. It supports HTML, Excel, MS Access, Lotus and XML, though.
- No latest versions
- The pricing structure isn’t listed making it hard to know if it meets the budget needs.
No 4: MINT
This home based accounting software has been designed in such a way that it helps the users to easily track their bills. Through this accounting software, one can set up automatic bills payment from within. Additionally, it is straightforward to create budget. Besides that, it provides budgeting and cash management suggestions.
Better yet, the software is entirely free. In case you’re using the Mint mobile application; you get credit score free of charge.
- It has a great user interface which allows easy navigation.
- It is easy to operate.
- The cost of acquiring this home-based accounting software is relatively low.
- It has a range of feature hence very convenient.
- Cannot perform complex calculations.
- Lacks some features to perform other home accounting related functions.
- Contains ads or links which can be very irritating and annoying at times.
No 5: Wave
As its name suggests, wave have taken the accounting field with a storm since 2010. Of late, it has more than 2.5 million users and the number is increasing incredibly fast. It has been raked by many agencies as exceptional free home accounting software.
The reason the software is ‘exploding’ is that it’s totally free. In addition, it offers classy invoicing tools for expense tracking, contact management and estimates. What’s more, the tools are vital for billing and sales tax settings. The latest iPhone including Android apps were launched recently and the software upgrades are done regularly to address the specific needs of the users.
- Excellent customer support
- Loaded with numerous useful features
- Very simple to use
- Accrual accounting
- Stunningly beautiful invoice templates
- Tax support’s unavailable
- Not ideal for big businesses
Easy to use bookkeeping software
SlickPie is an online accounting software program that is tailored for smaller businesses. The software is completely online, making it accessible from almost anywhere. It offers online invoices, allowing the user to either use one of the pre-set themes or offering a program that allows users to customize the look of their invoices. Along with online invoicing, the program offers online billing and document management. Through SlickPie, users can produce financial reports to monitor business growth. The software also offers tax management services. Another plus is cost, as it is completely free.
SlickPie relies on automation, offering features that allow companies to send out automatic payment reminders and auto-invoices. SlickPie is also the only no-cost accounting program to offer automated data entry, through its tool, MagicBot.
2. QuickBooks Online
A product of Intuit, QuickBooks has long been heralded as the go-to accounting software for small businesses. Two different versions of QuickBooks exist, including an online format, as well as a licensed version. The program offers easy, online access to all of your customers, vendors, and employee records.
Any user who purchases the online version of QuickBooks has access to free customer service as well. You can test out the program through a 30-day free trial and, after the trial expires, at a minimal monthly cost.
QuickBooks offers accounts payable and accounts receivable services. Users can also send out billing and invoicing to customers online. Unlike other accounting software programs, collections and fixed asset management are also offered. Additionally, QuickBooks also provides cash management.
3. Sage 50
Formally known as Sage Peachtree, Sage 50 is an accounting program commonly used by small to mid-sized businesses. The program offers accounts payable and accounts receivable services, bank reconciliation, and cash management. Users can also bill and invoice directly to customers through online services. Payroll and employee management is another feature of the program and is widely used by smaller and mid-sized businesses.
The program also allows the users to create and maintain a general business ledger. Sage comes at a monthly cost of $29.95 per month, with customer service being a part of this cost.
Kashoo is an accounting software program offered through the Apple App Store for iPad, iPhone, and web use. The format of this program is through the cloud and is widely used by smaller businesses already using any Apple product. The program allows small business owners to send invoices, manage finances, enter in expenses, and generate reports from the comfort of their own mobile device.
Accounts receivable and accounts payable are available through Kashoo, as well as cash management, CPA firms, and bank reconciliation. Users will be able to track expenses and income, and they will also be able to bill and invoice customers directly online. Payroll services are available, as well as spend and tax management services. One especially unique feature is Kashoo’s ability to enter handle multi-currency expenses.
Apple does offer a free trial for this program, with the starting monthly cost of $12.95 per month. Training is offered live online as well as through webinar format. Support is available online during business hours.
Xero is a program that both small business owners and accountants utilize. This online program can be utilized through mobile devices, like Kashoo, as well as via computer.
Users can process invoices and send out billing statements directly online. These can be done through pre-set templates or custom creation. You can handle payroll, including payroll taxes through the program. Xero does also have the capability to convert data directly from QuickBooks. Over 500 tools are available to allow the user to customize the program to their company’s specific needs.
Users can also reconcile multiple bank or credit accounts. Data is offered through a single ledger, which is a feature that makes it easy for users and accountants to collaborate and work together. Xero also supports multiple currencies.
Best Personal Finance App
Best budgeting app overall
Mint is one of the most popular budgeting apps and for good reason. It is free to use, something rare among the best budgeting apps, and you get financial budgeting shared by 24 million users.
The app allows you to create a personalized budget and will then monitor your spending. It studies your spending habits and advises how to increase your savings. It will also check your subscriptions to ensure that you are not paying for services you do not need. With MintSights, you can set goals to reach financial milestones and build a stronger financial foundation. Once you connect your accounts, you can easily navigate between outstanding account balances, your monthly expenses versus spending, and even access your free credit score. Mint is compatible with not just banking accounts, but also your credit cards, loans, and investments. You can even file your IRS taxes and receive your refund through the app’s integrated TurboTax services.
Whichever version you opt for, there’s a 30 day free trial available, so you can try before you buy to get an idea if BankTree will work for you.
The Money Dashboard iOS/Android app doesn’t try to reinvent the banking world or offer anything truly ground-breaking, but it is perhaps one of the most useful money management tools out there. Hook up every one of your UK bank and credit card accounts and you’ll be able to see each of your balances in a single place with a single login. That in itself is enough for us to recommend it.
But there’s more – Money Dashboard will track your spending, offering you an overall pie chart depicting your spending on loans, consumables, transport and the like. There’s an at-a-glance overall balance, showing exactly how much money you have available across all of your accounts, and you can compare this to the previous month’s figure to show how well you’ve been managing your funds. That’s a great motivator.
Made primarily for Mac users (but also out on Windows and Linux), Moneydance is a desktop money management package with a very neat single-window interface. Load it up and you’ll get an instant view of your finances, upcoming bills, recent expenses and more. Click an item in the left hand sidebar and the main content changes to reflect it.
Its reporting features are quite strong if not spectacular to look at, and one of Moneydance’s most useful sections is its account register. If you’re old-school and once managed a cheque book, this operates on a very similar principle. There’s also an iOS app for logging transactions on the go, which later syncs with the software on your desktop.
Unfortunately for UK users, Moneydance doesn’t support the connection protocols used by UK banks, so you’ll need to download your transaction history manually to keep on top of it and revert to your bank’s own app to move money around. US users, however, are well covered.
Best budgeting app with digital envelopes
Cost: There is a free version with ads, or you can upgrade to an ad-free plan for $7 per month or $60 per year.
Goodbudget is a budgeting app that helps you create and stick to a budget. There is available debt tracking to keep you motivated and on track. It also helps with money management so you know exactly where your funds are and how they are performing. You will have to subscribe to Goodbudget, but once you do, you will have wide access to the app through both the web and multiple phones. This means that it is easy to share your account with others, like a spouse or family member. It helps you stay connected financially even if you are physically apart, helping to prevent miscommunications and financial mishaps. All transactions are synced to the cloud so you never have to worry about certain financial transactions going missing. Review pie charts and reports to track your spending, with generated reports to show your finances in greater detail. Digital envelopes help you categorize your finances into available funds with each envelope assigned to certain expenses. It is a visual way to improve your finances through the help of virtual tools.
Best budgeting app for investors
Cost: Personal Capital is free to use.
More than 2.8 million people utilize Personal Capital, and it is a portfolio tracker specifically designed to help with your investments, offering a unique digital approach to your personal finance. The app works with several different types of accounts, including your normal banking accounts, as well as investments, stocks, and retirement funds. The exclusive Retirement Planner tool helps you view your 401K, IRAs, and also your debt so you can have a complete, well-rounded portrait of your finances at the click of a button. The Cash Flow graph stacks your income versus your expenses for an overall financial snapshot that is easy to understand, plus there is an Investment Checkup tool that checks your investments, looking for ways to minimize risk while maximizing rewards. The Retirement Planner is an excellent option when you want to create and manage your retirement. You also have the option to join Personal Capital as an investment client so you can receive direct support from its financial advisors.
Best budgeting app for overspenders
Cost: There are three subscription plans, in addition to a basic plan with limited features for free.
|Type of plan||Cost|
|Lifetime One-Time Purchase||$79.99|
PocketGuard takes a different approach to budgeting, utilizing smart algorithms to manage and track your spending. It also monitors your bills, helping to ensure that you do not miss a payment and risk falling further into debt. There is a bill tracker and organizer available as soon as you link your bank accounts. Any subscriptions you have will be automatically flagged and built into your monthly budget. With the IN MY POCKET feature, the app will automatically calculate your monthly expenses and then advise you on what is left over to spend. It also can help you negotiate better interest rates on your existing accounts, helping you save those extra dollars. It is easy to identify what disposable income you have to spend when the app does all the calculating and reporting for you. You do not have to pay to use PocketGuard, although you will need to subscribe if you want to access all of the best features.
BankTree is more than happy to support worldwide currencies, and in fact does a solid job if you’re working simultaneously with more than one, offering balances in multiple currencies rather than rounding them off into a single total. It’s also good for keeping track of everything, allowing you to scan receipts with its mobile app and import them later on.
It’s not the prettiest software around, and it’s slightly more awkward to use than many of its more refined cousins, although BankTree does produce very neat reports which you can break down by time, or by payee. It may be worth experimenting with the free trial before you choose to invest in this one.
The desktop software comes with one year of updates and support, though you are restricted to one PC and there is a charge for any additional PC you want to run the software on. There’s also a browser-based version available.
Basing your budget on important financial items can help you save money on your everyday expenses and secure financial security in the long run. By making a list of your important financial items and tracking their status every month, you can keep track of your progress and make necessary changes as needed. Thanks to a well-budgeted lifestyle, you can be content with little extra income or space to save.