Top 26 Free and Open Source Accounting Software
Accounting is an important part of everyday business operations. Small, medium and large-sized businesses need to handle financial data and information to ensure all financial resources end up in the right places. When using the right software, companies can perform simple and complex financial transactions.
Accounting can gather, summarize, analyze, and report financial data. Moreover, companies can automate bookkeeping processes that are difficult to handle manually. This means businesses can process their financial transactions and records at greater speeds.
Businesses also need to ensure that all of their financial records are accurate and up to date. For that reason, they have to use an application that can identify and correct errors.
In addition to facilitating faster and efficient accounting processes, accounting software helps companies reduce costs such as administrative and accounting department costs. Also, organizations can file their taxes with ease and generate accurate reports at any given moment.
You may like to read: How to Select the Best Accounting Software for Your Business
What are the Best Free Accounting Software: QuickBooks, FreshBooks, Wave, Pivot Accounting Pro, Akaunting, NolaPro Desktop Free Edition, Adminsoft Accounts, ZarMoney, VT Cash Book, Brightbook, QuickFile, NCH Express Accounts, WP ERP Accounting, Pandle, Manager, Momenteo Free Edition, ZipBooks Free Edition, Kiwili Free Edition, SlickPie Starter Edition are some of the best examples of Free Accounting Software.
What are the Best Open Source Accounting Software: GnuCash, SQL-Ledger, FrontAccounting, TurboCASH, LedgerSMB, Money Manager Ex, PhreeBooks, xTuple PostBooks are some of the best examples of Open Source Accounting Software.
You may like to read: Top Accounting Software
What are Accounting Software?
Accounting Software allow businesses to handle all of their bookkeeping and accounting activities. This includes storing financial data and performing various business transactions on a daily basis. Bookkeeping teams, accountants, and other accounting professionals use accounting software to gather accounting data and information, govern accounts, and automate recurring accounting tasks.
Since accounting is the main function of accounting software, users are able to handle general ledger, accounts payable, accounts receivable, bank reconciliation, and fixed assets.
Other important functions of accounting software include billing, invoicing, budgeting, forecasting, payroll management, project accounting, and inventory management. When it comes to choosing a suitable accounting software program, companies can choose from several categories depending on their business operations and needs.
You may like to read: Top Accounting Software
The most common categories of accounting software include billing and invoicing systems, payroll management systems, enterprise resource planning systems, and time and expense management systems. It’s up to the company’s accounting professionals to determine which accounting software program meets their needs.
You may like to read: Top Accounting Software, and How to Select the Best Accounting Software for Your Business
What are Accounting Software
- Accounts Payable, Accounts Receivable, General Ledger, Billing, Invoicing, and Payments: Accounting software programs include a feature that allows users to track bills, record payments, and automate recurring payments. Companies use this feature to make multiple payments and create checks. Additionally, companies can invoice customers, send payment reminders, track invoice status, pay workers, and automate tax calculations.
- Dashboard and Tracking: Companies can use the tracking feature to track income, expenses, all types of transactions (bank, card, and online), distance traveled during business trips, and billable hours by employee or client. This feature also helps businesses track various aspects of projects including time and financial resources. A customizable dashboard makes things easier by displaying real-time information.
- Inventory Management: The inventory management module helps companies control stock availability and product delivery to avoid delivery issues like understock or overstocking. In addition, companies can track products, receive notifications, track costs, manage vendors, and create purchase orders.
- Reporting: Accounting software comes with a feature that helps businesses generate customized reports. For example, businesses can create balance sheets and generate reports on profits, losses, and expenses. With such reports, businesses can make valuable decisions and track cash flow.
- Mobile Access: The best accounting software programs on the market today allow users to access and manage accounting data and information via mobile devices.
Accounting Software Benefits
Some of the benefits include:
- Accurate financial data
- Reduced operational costs
- Improved efficiency
Top Free Accounting Software
QuickBooks
QuickBooks enables you to quickly design an invoice template to represent your brand, or modify one of pre-installed online invoice templates. It also allows you to send your invoices with a Pay Now link so your customers can make online credit card payments instantly and easily. You can also track when invoices are sent, viewed, and paid. QuickBooks lets you stay in-sync with your bank by automatically downloading, categorizing, and reconciling bank and credit card transactions. QuickBooks helps you track and record expenses making it easy to reference during tax reconciliation and filing. It allows you to take a photo…
• Accounting software
• Invoicing software
• Cloud-based
• Online payments
• Mobile integration
• Self-Employed – $4.99/month
• EasyStart– $10.40/month
• Essentials – $18.90/month
• Plus – $24.00/month
• Inventory management
• Time tracking
• Reporting dashboards
• Get paid faster by accepting credit card, debit card, and bank transfer payments
• Track invoice status, send payment reminders, and match payments
• Create professional custom invoices with your logo
FreshBooks
FreshBooks is a cloud-based accounting application that can be securely accessed from any device, anywhere. FreshBooks Invoicing software provides the tools you need to customize your invoices to reflect your brand. You can change colors, add logos, or even adjust currencies. Again, all your accounting activity is captured in FreshBooks, so you can easily transform an estimate, project or time sheet into an invoice. With FreshBooks, you can use invoice templates for regular clients so you do not have to create a new one every time.FreshBooks lets you accept credit cards so your clients can pay you via multiple online…
• Invoicing software
• Expenses tracking
• Time tracking
• Project management
• Online Payments
• Clients’ contact info
• Reporting dashboards
• Lite – $15/month
• Plus – $25/month
• Premium – $50/month
• Invoicing software
• Expenses tracking
• Time tracking
•Track Your Business Expenses Without Lifting a Finger
•Easily Bill Your Client For Expenses
•Ensure Compliance With Accurate Reporting
Wave
Wave is an accounting software which covers the spectrum of a small business owner's financial life, and helps businesses grow and thrive by providing access to capital (Lending), improving cash flow (Payments), delivering money to employees (Payroll), helping businesses get paid (Invoicing), preparing for tax time and providing business insights (Accounting, Receipts). Wave’s payment and credit card processing feature offers sub-features such as accept credit cards on the invoices users send, set up recurring billing for users’ repeat customers—charge a card and send a receipt without lifting a finger, customers pay faster where most invoices get paid in 2 business…
• Payments
• Invoice Templates
• Credit Card Processing
• Free
• Payments
• Invoice Templates
• Credit Card Processing
Pivot Accounting Pro
Pivot Accounting Pro is an accounting software and tax package tool for self-employed sole proprietors operating anywhere in Canada. Pivot Accounting Pro offers the tax package tool that allows proprietors to determine what their GST/HST owing and taxable income is for the year. Pivot Accounting Pro supports every province in Canada and can handle taxation years where the GST, PST, or HST rates changed during the year. Pivot Accounting Pro provides influential accounting reports and summaries that can be exported to a PDF format and emailed to a tax practitioner. The accounting software and tax package tool are also created…
• Determines the GST/HST owing and taxable income is for the year
• Provides powerful accounting reports and summaries
• Exports reports and summaries to a PDF format and emailed to a tax practitioner
• Uses 2GB RAM, 200 MB Hard Disk Space, and Windows 7 or Mac OS X 10.8.
• Works with an accounting professional is all embedded in the programming feature
• Performs the full range of bookkeeping tasks required to track all the business revenue
Starting at : $20
• Exports reports and summaries to a PDF format and emailed to a tax practitioner
• Uses 2GB RAM, 200 MB Hard Disk Space, and Windows 7 or Mac OS X 10.8.
• Works with an accounting professional is all embedded in the programming feature
• Supports every province in Canada and handles taxation years
• Uses a tax package tool to make easy tax processes
• Determines taxable income quickly
Akaunting
Akaunting is a free and online accounting software designed for small businesses to manage their finances and stay on top of their cash flow. Invoicing, accepting online payments and keeping track of expenses couldn't be simpler. Akaunting is built with modern technologies such as Laravel, Bootstrap, jQuery, Swift Mailer, API etc. With Akaunting, access financials instantly from any device: Mac, PC, tablet or phone. Akaunting is an Open Source project with contributors from all over the world. Akaunting is hosted on GitHub and open for everyone to contribute. With Akaunting software, send professional invoices to clients and start accepting online…
• Client Portal: Share the transactions and invoices with clients
• Unlimited attachments: Attach business files and/or receipts to invoices, expenses, payments for original evidence
• Billable expenses
• Multilingual Panel: Switch between languages easily, instantly
• Fine-grained permissions
• Deposits & transfers: Add deposits to and transfers between accounts
• Free
• Billable expenses
• Multilingual Panel: Switch between languages easily, instantly
• Fine-grained permissions
• Low System Requirements: Akaunting is able to run on affordable hosting with very basic requirements
• Out of the Box: Running and fully functional in no longer than five minutes
• Expense tracking: Keep track of mounting bills & expenses and the money flowing out
NolaPro Desktop Free Edition
NolaPro is a powerful and fully customizable accounting software which offers over 100 add-ons and tons of setup choices. NolaPro offers features such as automatic updates, data backups, secure site, customer tracking, billing, payables, general ledger, international features, multiple languages, multiple users, multiple companies, inventory, payroll / timeclock, orders / POS and b2b web portal and add-ons like 12 month history of customer sales or units sold, block salesperson changes, create customer groups. NolaPro also provides customer item discounts, customer notes, customer page customizer, email center, employee notes, employee time tracking, employee-specific tax expense for GL, limit salesman access, VTIGER(tm)…
• Contacts
• Ledger
• Order Management
• Billing
• Payables
• Desktop - $0 Download
• MyBiz - $9.99 /MO
• Prosper - $39.99 /MO
• Contacts
• Ledger
• Order Management
• Free Trial
• Inventory
• Payroll
Adminsoft Accounts
Adminsoft Accounts is a full double entry accounting system, complete with Accounts Receivable (Sales Ledger), Accounts Payable (Purchase Ledger), General Ledger (Nominal Ledger), Stock Control / Inventory, Purchase Order Processing, Invoice software, Human Resources, and even payroll software. It's also multi-user, multi-company, and multi-currency. In addition, it contains special modules (which can also be used for free) for retail, cafe, and restaurant trade, and for point of sale and workshop operations in the autotrade. The software will run on just about any PC running Windows, from Windows 98 through to Windows 10. It will also run on iMac or Linux…
• Customer Contact Diary
• EC Sales List, including Submission to HMRC
• Overdue account letters
• Bad Debt Write Off
• Balance Sheet Report
• Sales Analysis Codes
• Early Settlement Discounts
• Free
• EC Sales List, including Submission to HMRC
• Overdue account letters
• Bad Debt Write Off
• Customizable: Import data from a range of different file formats
• Secure: Set up passwords, allow login and backup operations, create login restrictions
• Track: Set up customer and supplier details and gather info about suppliers
ZarMoney
ZarMoney is accounting software that has every aspect of its program designed to give businesses greater access and more command of information to accelerate and enhance the accounting process. ZarMoney is scalable and adapts to business quickly and provides comprehensive command over full inventory management, customized reports, and automated controls. With ZarMoney, businesses can enjoy the ultimate mobility and remote connectivity for optimum management agility and enhance access to their books from any device and any location. The built-in messaging and alerts feature offers businesses with an excellent platform to allow them to communicate at any time as well as…
• Fax and email directly from the application without any fax line or email service
• Drag tasks to the calendar and sync with the Google Calendar
• Schedule delivers, customer call-backs or any important tasks
• Close control of the order processing workflow and automatically notifying customers when anything in their order changes
• Troubleshoot or update other team personnel
• Ultimate mobility and remote connectivity for optimum management agility
• Entrepreneur - $0
• Small business - $29/month
• Enterprise - $350/month
• Drag tasks to the calendar and sync with the Google Calendar
• Schedule delivers, customer call-backs or any important tasks
• Close control of the order processing workflow and automatically notifying customers when anything in their order changes
• Access your books from any device
• Enhance collaboration in teams
• Manage accounting with custom statuses
VT Cash Book
VT Cash Book can be used to record the day to day cash transactions for any size of business. VT Cash Book is extremely simple to use and data entry is very fast. VT Cash Book is a highly simplified version of VT Transaction+. VT Cash Book files can be opened in VT Transaction+ and vice versa. Support is only provided to VT Cash Book users if they have purchased a license for VT Transaction+. Five support enquiries can be made within a year of purchase at no additional charge. Reports in VT Cash Book are in windows. Switch between…
• VAT returns
• Profit and loss account, balance sheet and ledgers reports
• AutoComplete: When entering a payment, an analysis account is automatically suggested if the paid to/received from details that have been entered match a previous transaction
• Fast data entry
• Supports multiple bank/cash accounts
• Split Analysis
• Free
• AutoComplete: When entering a payment, an analysis account is automatically suggested if the paid to/received from details that have been entered match a previous transaction
• Fast data entry
• Supports multiple bank/cash accounts
• Backup: There are commands on the File menu of VT Cash Book to back up and restore data to a CD, memory stick or any other drive
• Drill down: Click on an account name to display the entries in the account
• Correcting mistakes: Any aspect of a transaction can be changed by clicking on it in an account or any other report window
Brightbook
Brightbook is a completely free software that makes invoicing a very easy task. It offers invoicing, instant insights along with accounting software that allows you to import banking statements to see profit and loss. It also provides the feature of multiple users using the software with selective access according to hierarchy and requirement for extra security and privacy. Brightbook is the perfect bookkeeping solution for small business owners, freelancers and contractors. Brightbook makes bookkeeping an easier, less time-consuming and more enjoyable process. And because it's online, use it anytime, anywhere. Brightbook has Bank-level security - it uses the same level…
• Income tax preparation / planning
• Firewall, Network & Server Security
• Profit and Loss report (or financial statement) is a summary of sales, costs and bills/expenses
• Templates: Invoices can be emailed directly to clients from the Invoice page
• Fixed asset management
• Brightbook diary organizes bookkeeping activity
• Free
• Firewall, Network & Server Security
• Profit and Loss report (or financial statement) is a summary of sales, costs and bills/expenses
• Templates: Invoices can be emailed directly to clients from the Invoice page
• Banking: Track and reconcile money paid in and out against payments and bills
• Multi-currency: Invoice a client in any currency and Brightbook will automatically convert it back to home country's currency
• Visual Reference: View bills and expenses as a list, or visually, in the Gallery View
QuickFile
QuickFile is a provider of cloud accounting software for businesses of multiple sizes. With affordable pricing and useful features, it's popular with small and medium businesses. QuickFile provides a full suite of accounting features including professional invoicing, expense management, VAT, bank feeds and over 300 integrations. QuickFile was designed from the onset to be simple and intuitive. No steep learning curve. A simple, yet effective piece of software to aid businesses with their bookkeeping and accounting, QuickFile often implements new features based on community demand. QuickFile can create a branded online portal where clients can view, download, print and pay…
• Invoice revision history, track changes to invoices and estimates
• Full reporting enables businesses to view their financial position at any given time
• CSS Designer for advanced invoice editing
• Automated overdue reminders by email
• Custom branded administration and client area
• 2 factor authentication with Google Authenticator
• Free
• Full reporting enables businesses to view their financial position at any given time
• CSS Designer for advanced invoice editing
• Automated overdue reminders by email
• Backup: Minimize the risk of data loss
• Import: Upload bank data from online banking app in CSV format
• Digital Recordkeeping: Accounting records are kept in a digital format
NCH Express Accounts
NCH Express Accounts is a professional business accounting software that offers an excellent platform to easily track payments and deposit transactions, view balances and reports to see how the business is doing, and email or fax reports directly to the accountants. NCH Express Accounts accounting software is also perfect for a small business needing to document and report on incoming and outgoing cash flow including sales, receipts, payments, and purchases. The key features offered by NCH Express Accounts include sales and accounts receivable, accounts payable, financial analysis and reports. The sales and accounts receivable feature facilitates tracking sales and accounts…
• Multiple users with web access within the organization can securely log on and use the program on your network or online
• Secure mobile access to the program through the web interface (e.g., iPhone, Android)
• Integrates with Inventoria to maintain inventory data across all aspects of your business
• Run multiple businesses with a single installation, including businesses operating with different currencies
• Automatic integrated backup
• Generate over 20 essential financial reports at any time and analysing sales by customer, salesperson or item
Contact for pricing
• Secure mobile access to the program through the web interface (e.g., iPhone, Android)
• Integrates with Inventoria to maintain inventory data across all aspects of your business
• Run multiple businesses with a single installation, including businesses operating with different currencies
• Easily track payments and deposit transactions
• View balances and reports to see how your business is doing
• Email or fax reports directly to your accountant
WP ERP Accounting
WP ERP Accounting is accounting software that uses a graphical dashboard that allows businesses to view all vital information quickly. WP ERP Accounting is also flexible enough to accommodate all types of sales transactions and calculate any sales data the user inputs. WP ERP Accounting uses an intuitive and interactive system that makes it possible for beginners to understand and work smoothly with balance sheets, debit, credit, income statements, and cash flows. The sales transactions feature gives the actual scenario of everything such as total outstanding and received amounts, over dues, and partial payments. The sales transactions feature also enables…
• Gives the actual scenario of everything such as total outstanding and received amounts, over dues, and partial payments
• Modify payment invoices quickly and add multiple accounts
• Keep a detailed track of the company’s expenses with the associated accounts and vendor files
• Provides payment vouchers that enable businesses to pay directly their vendors with cash from their savings or petty accounts
• Attach file documents with each voucher and allow the amount to be adjusted instantly
• Key journal entries into the system in a flash
Contact for pricing
• Keep a detailed track of the company’s expenses with the associated accounts and vendor files
• Provides payment vouchers that enable businesses to pay directly their vendors with cash from their savings or petty accounts
• Attach file documents with each voucher and allow the amount to be adjusted instantly
• view all important information quickly by using graphical dashboard
• Accommodate all types of sales transactions
• Makes it possible for beginners to understand and work smoothly with balance sheets, debit, credit, income statements, and cash flows
Pandle
Pandle is a cloud-based accounting solution for small businesses across the UK. The platform helps streamline accounting activities including invoicing, quotations, receipt uploads, payroll services and tax estimations. Pandle supports multiple currencies and exchange rates for currency conversions. Accountants and business owners can create invoices as well as email bulk invoices to customers and suppliers. Users can also set up recurring invoices and send reminders for pending invoices. Pandle has banking features that enable users to upload transaction receipts and pull transaction history from bank accounts in real time. Pandle’s reporting capabilities allow users to view financial statements and analyze…
• EU VAT/EC Sales lists: Automatically invoice customers in the EU by submitting EC sales lists to Pandle
• Cash flow forecasting report allows users to set future cash flow goals and view trends
• Bulk invoice emailing
• Stripe integration allows to automatically import transactions
• Transaction locking - Avoid entering transactions for a previous financial period
• VAT Handling
• Free
• Cash flow forecasting report allows users to set future cash flow goals and view trends
• Bulk invoice emailing
• Stripe integration allows to automatically import transactions
• Precision: Ensure the highest levels of accuracy
• Simple set up: Free up more time to focus on other aspects of your business
• Visibility at all times: Easily manage all the quotes created from Pandle’s intuitive interface
Manager
Manager Accounting software is one of the most powerful and free accounting software for small businesses. This simple budget software has the best features that help in keeping track of credit notes, purchase orders, bank reconciliation, aged payables, journal entries, charts of accounts, etc. This software works great with Windows-based, Mac and Linux systems. In order to make sure that Manager runs very fast even if you have larger amount of data, all servers are using high frequency Intel Xeon processors with turbo up to 3.3GHz. Manager includes many features for customizing business’ look to the outside world. It also…
• Accrual-basis accounting
• Bank statement importing
• Statement of changes in equity
• Cashbook describes accounting techniques for physical cash, bank accounts, credit cards, and other forms of money
• Time & service billing
• Delivery notes and goods receipts
• Free
• Bank statement importing
• Statement of changes in equity
• Cashbook describes accounting techniques for physical cash, bank accounts, credit cards, and other forms of money
• Ease of use: Simple enough to use without a manual
• Adaptable: Supports local tax codes, local date formats, local currency formats, country-specific tax reports
• Improved importing of QIF files so it supports ISO date format
Momenteo Free Edition
Momenteo is accounting software that allows freelancers keep track of their work done, expenses, and travels in the provided beautiful calendar. Momenteo also allows freelancers to manage their clients, invoices, expenses and travels easily while having a clear portrait of their financial status. Momenteo is cloud-based and automated; therefore, the user's data is stored in the safest way possible. The key features offered by Momenteo include invoices, clients, calendar, time tracking, estimates, reports, and expenses. The invoices allow the users to send beautiful invoices to their clients. The accounting software then allows tracking the status of the invoices and send…
• The invoices allows the users to send beautiful invoices to their clients
• Track the status of the invoices and send them directly online
• The calendar feature also gives an overview of the month and shows if anything was not added
• Intelligent time trackers that easily track the work done in almost any context
• Convert estimates into an invoice immediately the estimate is approved by the client
• The report feature archives the previous years of activity to allow users to go back in time quickly and find some information from the reports
• Configure the reports with multiple filters
• Free - $0
• Start - $4.50/month
• Explore - $7.50/month
• Plus - $12.50/month
• The calendar feature also gives an overview of the month and shows if anything was not added
• Intelligent time trackers that easily track the work done in almost any context
• Convert estimates into an invoice immediately the estimate is approved by the client
• Manage clients, invoices, expenses, and travels easily
• Keep track of their work done, expenses, and travels in the provided beautiful calendar
• Stores data in the safest way possible
ZipBooks Free Edition
ZipBooks is an accounting and invoicing software that simple, beautiful, and powerful and offers tools to make bookkeeping and reporting in accounting smarter. ZipBooks also offers tools that allow sending professional invoices in seconds and getting paid seamlessly. ZipBooks uses the data-driven intelligence that goes beyond the historical reports in other accounting software to automate, predict and advise. ZipBooks also offers actionable insights based on millions of data points to help businesses to make simple tweaks with an outsized impact. With ZipBooks, a business can automate everything with recurring auto-bills while integrating ZipBooks into their books. The key features offered…
• Smart way to track all the transactions with minimal knowledge in accounting
• Keeps accurate accounting records by providing a trusted advisor to help in bookkeeping
• Connect to bank accounts and credit cards to save time and stay current
• Organize works into projects and tasks
• Tag any transaction with a customer, project, location, or other custom tag
• Manage team permissions on reports
• Starter – Free
• Smarter - $15/mo
• Sophisticated - $35/mo
• Services - $125/mo
• Keeps accurate accounting records by providing a trusted advisor to help in bookkeeping
• Connect to bank accounts and credit cards to save time and stay current
• Organize works into projects and tasks
• Send professional invoices in seconds and get paid seamlessly
• Shows where your money goes by tracking accounts payable
• Retain your most profitable customers by using smart insights
Kiwili Free Edition
Kiwili is accounting software that uses a uses a simple sign-up process that has the ability to access all functions through a single dashboard. Kiwili also allows businesses to view and administer business functions with commendable ease as well as enable creating multiple projects and assigning tasks. The key features offered by Kiwili include invoices management, creating projects and assigning tasks, time tracking and billing, and report generation. The project creation and tasks assignment feature provide an excellent platform to create numerous projects. The task assignment feature then allows creating multiple tasks within the projects which can be created and…
• Create multiple tasks within the projects which can be created and assigned to the designated members
• Track the time spent on each tasks as the team members work on the assigned tasks
• Enables the time tracked to be viewable by everyone
• Create invoices using the application
• Deliver the invoices to their clients through the same interface
• Allows reports to be generated to summarize results in a single file
• Free - $0
• Standard - $9.95/month
• Pro - $19.95/month
• Business - $49.95/month
• Track the time spent on each tasks as the team members work on the assigned tasks
• Enables the time tracked to be viewable by everyone
• Create invoices using the application
• Access all functions through a single dashboard
• View and administer business functions with commendable ease
• Simple sign-up process and user friendly interface
SlickPie Starter Edition
SlickPie is a basic expense management software offers all the basic tools for the start-up micro-business management. SlickPie is also ideal for the fresh to the market companies as well as established businesses. SlickPie is also designed to fit small business needs by doing all the heavy lifting work to deliver the most delightful expense management experience. SlickPie uses a MagicBot which acts as an automated receipt data entry tool that enables the business to streamline their expense by automatically pulling information from receipts and converting it into digital data. The expense management tool offers business accounting features starting from…
• Streamline expense by automatically pulling information from receipts and converting it into digital data
• Send invoices in any currency
• The tracking expenses feature enables users to track their personal and business expenses by recording all their purchases in the software
• Categorize expenses in a number of pre-set categories or in custom ones
• Have control of what bills to pay and when to pay them
• Set invoices automatically to be sent at anytime from anywhere, and tracked whenever it is viewed or paid
• Send a complete outline of the sale, containing product name, product description, product price, and even taxes
Starter- Free
• The tracking expenses feature enables users to track their personal and business expenses by recording all their purchases in the software
• Categorize expenses in a number of pre-set categories or in custom ones
• Have control of what bills to pay and when to pay them
• Enjoy enough storage space to upload almost any type of file
• It does all the heavy lifting work to deliver the most delightful expense management experience
• Have strict control of all the company’s financial transactions
Top Open Source Accounting Software
GnuCash
GnuCash is an easy to use, yet powerful and flexible personal and small-business financial-accounting software, freely licensed under the GNU GPL and available for GNU/Linux, BSD, Solaris, Mac OS X and Microsoft Windows which allows the users to track bank accounts, stocks, income and expenses and also is a quick and intuitive to use as a checkbook register that is based on professional accounting principles to ensure balanced books and accurate reports. GnuCash offers features such as Small business accounting features, multiple currencies, stock/mutual fund portfolios, online stock & mutual fund quotes, experimental database support, QIF and OFX import, HBCI…
• Double-Entry Accounting
• Stock/Bond/Mutual Fund Accounts
• Small-Business Accounting
• Reports, Graphs
• Statement Reconciliation
• Scheduled Transactions
• Financial Calculations
• Income/Expense Account Types
• Free
• Double-Entry Accounting
• Stock/Bond/Mutual Fund Accounts
• Small-Business Accounting
SQL-Ledger
SQL Ledger is a web based ERP system that runs on any NIX, Mac, or Windows platform. Data is stored in SQL database server so that the displayed of any text or GUI browser can be uses. It is freely available an written in an easy readable perl code. There is intuitive interface so that the learning curve is kept to a minimum. It support foreign languages and no special programs is required make changes or add a new language. Installation takes only a few minute bit it is easy to do. It has a lot of features which makes…
• Accounts Receivable and Payable
• Make Vouchers and General Ledger
• Make Inventory Control and Billing / Invoicing
• Payroll andTime Cards
•POS, Check Printing and make purchase / Sales Orders
• Customizable Taxes
Free
• Audit control and Access control
• Foreign Currency
• Internationalization
FrontAccounting
FrontAccounting ERP is a free, downloadable web-based accounting system designed for small and medium businesses. The software allows users to manage their accounts online whether it be for purchase orders, accounts payable, sales orders, deposits, customer invoices or credit notes. FrontAccounting ERP can be accessed from anywhere in the World and different companies can be set-up simultaneously. The software is a multi-user system, supports various languages and can handle a number of currencies, and subscription for remote accessibility is low-cost for open source accounting. FrontAccounting ERP comes with flexible tax configuration tools and works with all banking and general ledger…
• Web-based accounting system
• Supplier
•Invoices/Credit Notes
• Accounts payable
• Flexible tax configuration tools
• Multi-user system
• Multiple currencies
• MS Excel/Open format
• Office Calc format
• Convert all reports into PDF files
• Journal and budget entries
• Supports multiple languages
• Can be accessed Worldwide
Reduces costs
• Web-based accounting system
• Supplier
•Invoices/Credit Notes
TurboCASH
TurboCASH is a powerful, flexible, small open source accounting software that is one of the world’s first fully-featured open source accounts packages for small businesses. Since it’s open source, developers can add plug-ins to the main programme and this enables various vertical market opportunities. New versions of the software are released every 4months or so, while major upgrades happen once a year. So far it has over 80,000 users. TurboCASH is free for you to download and also distribute under the terms of the General Public Licence (GPL). As compared to other accounting software’s like Quickbooks and Sage, TurboCASH is…
• Easy setup
• Powerful Accounting Software
• Accounts management
• Transactions management
• Comprehensive Reporting
Free
• Easy setup
• Powerful Accounting Software
• Accounts management
LedgerSMB
Ledger SMB is an open source ERP software program that gives businesses opportunity to manage their operations, track invoices and payments, inventory and lots more from a single application in a simpler way. the major important of using this program is that; it provides short ramp-up times due to a simple powerful user interface. It easily integrates with other businesses applications through open architecture, It customizability and supporting completion builds the software around your business and not the other way round, and it also opens community of consultants and service providers. There are series of built-in modules which make it…
• Sales (Invoices, Orders, Quotations)
• Receivables & Payables
• General ledger
• Inventory management
• Fixed asset accounting & depreciation
• Profit centers, departments, projects
• Output documents in PDF, HTML, CSV, Office formats
• Mail documents (e.g. invoices) from within the application
• Translatable to your language (comes with 45 languages)
Free
• Sales (Invoices, Orders, Quotations)
• Receivables & Payables
• General ledger
Money Manager Ex
Money Manager Ex is a free open source, cross-platform, and easy to use personal finance software that acts as an excellent tool for providing one with a bird's eye view of their financial worth. Money Manager EX primarily helps to organize one’s finances and keeps track of where, when, and how the money goes. The key features offered by Money Manager EX include reminders for recurring bills and deposits, budgeting, and cash flow forecasting, importing data from any CSV format, simple one-click reporting with graphs and pie charts, international language support, and non-proprietary SQLite database with AES encryption. Money Manager…
• Reminders for recurring bills and deposits
• Budgeting and cash flow forecasting
• Import data from any CSV format, QIF
• Simple one click reporting with graphs and piecharts
• Does not require an install; can run from a USB key
• Non-proprietary SQLite database with AES Encryption
Free and Open Source
• Budgeting and cash flow forecasting
• Import data from any CSV format, QIF
• Simple one click reporting with graphs and piecharts
• Simply create accounts and start to use MMEX
• Take note of all expenses and incoming in a clear view
• Easily track fixed assets and incorporate them within total financial worth
PhreeBooks
PhreeBook, which is formerly known as PhreeDom, is a modular ERP web application for small businesses that can track inventory, accounting, contracts, check writing, bank account reconciliation, and more. The purpose of this application is to provide the small-business community with a free multi-language end-to-end enterprise management tool. This appliances includes; Base Operating System ( Detrian GNU/Linux 8, Jessie), Building formats, which deploys on bare metal, virtual machines like Openstack, VMWare, VirtualBox, OpenVz, KVM, and in the cloud. It has ISO images, general installable live CD which can be installed anywhere. It has virtual machine images which is used to…
• Base operation system
• Build formats
• Free software with full source code
• Secure and easy maintain
• 1-click backup and restore
• Dynamic DNS
•Logical volume management
• AJAX web shell
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•Web management interface
• Network Modules
•Tool Modules
xTuple PostBooks
xTuple Postbook is an open source ERP program designed for sales, accounting, operations and CRM, all these in a single system. It is a fully featured, fully integrated business management system. It was built to run in the cloud or on a local server and provides the ultimate in power and flexibility for a range of business and industries of any size. It helps organization gets started with xTuple business management software to run the entire business which include; accounting, customer relationship management, manufacturing, inventory purchasing, distribution and delivery, and more. It main features comprises of Accounting, which includes general…
• Ability to run entire your business easily and comfortably
• Management of customer relationship
• Manufacturing inventory
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•Good for purchasing, distribution, delivery and lots more
• Connect your ERP to the web portal
• Presence of different modules; product, inventory, manufacture, schedule, sales, CRM, purchase and accountin modules.
You may like to read: Top Accounting Software, and How to Select the Best Accounting Software for Your Business
What to Choose: Proprietary or Open Source Accounting Software? How about Cloud?
From a buying perspective there are two options based on the source code availability: Open Source Software and Proprietary Software.
Open Source Accounting Software: Open Source Accounting Software is ideal when you have a development team available in your company and when you want to try out the product or build new features and functionality on top of it.
Proprietary Accounting Software: Proprietary Accounting Software is a good choice when you are looking for an established product, when your requirement is for SAAS product or when you need full-fledged support and when open source standards doesn’t matter in your line of business.
What to choose Accounting Software-Proprietary, Open Source, Free, Free Trial
You may want to review: Top Accounting Software
How about Cloud and On Premise Software?
Based on the installation type there are cloud-based and on-premises software systems, with both the systems having equal share of benefits. The cloud software is hosted and managed and maintained on a remote server. It is also referred to as software as a service (SaaS). On-premises software is normally installed and implemented on your company’s premises and which need your own IT team to manage and maintain the on- premises system.
How about Cloud and On Premise Software- Accounting Software
Selection of the installation type depends on the needs of your organization. A small company may find the cloud system more appropriate since the cost of installation is lower as opposed to having on-premises system.
You will find free or limited free versions in both the Open Source Software and Proprietary Software.
We recommend determining how the software fits to your business in terms of features, functionality, and business process with a free trial.
What are Accounting Software?
Accounting Software allow businesses to handle all of their bookkeeping and accounting activities. This includes storing financial data and performing various business transactions on a daily basis. Bookkeeping teams, accountants, and other accounting professionals use accounting software to gather accounting data and information, govern accounts, and automate recurring accounting tasks.
What are the Best Free Accounting Software?
QuickBooks, FreshBooks, Wave, Pivot Accounting Pro, Akaunting, NolaPro Desktop Free Edition, Adminsoft Accounts, ZarMoney, VT Cash Book, Brightbook, QuickFile, NCH Express Accounts, WP ERP Accounting, Pandle, Manager, Momenteo Free Edition, ZipBooks Free Edition, Kiwili Free Edition, SlickPie Starter Edition are some of the best examples of Free Accounting Software.
What are the Best Open Source Accounting Software
GnuCash, SQL-Ledger, FrontAccounting, TurboCASH, LedgerSMB, Money Manager Ex, PhreeBooks, xTuple PostBooks are some of the best examples of Open Source Accounting Software.
ADDITIONAL INFORMATION
I need to find a low cost or free alternative accounting package with multilingual support for a new small business. I felt this guide has been immensely helpful in getting me started on my search. Thank You to the OP (imanuel).
ADDITIONAL INFORMATION
Are you looking for a cloud-based accounting software that is easy to use and helps you manage your small business finances? bookkeeper software is here to help! With our free 30-day trial, you can send invoices, track time, manage receipts, and more. Plus, our software is designed to make it easy for you to accept credit cards from your customers. Give Akounto a try today!
ADDITIONAL INFORMATION
Thanks for sharing a great article, In order to maintain a business’s reputation, proper bookkeeping is imperative.