Using the right finance software is essential to your success as a small business owner. The right software can help you set a budget, track revenue and expenses, stay on top of taxes, and much more.
Most importantly, it lets you perform these tasks with maximum accuracy and efficiency. This gives you more time to focus on actually growing your business.
That said, as a small business owner, you also probably know how important it is to save money when possible. The idea of investing in finance software may not sound feasible at this time.
Don’t worry if this is the case. There are numerous free small business finance software options available to you.
Free Small Business Finance Software: Options to Consider
ZipBooks makes performing essential accounting tasks a breeze. The interface is easy to navigate, which can be very helpful if you don’t currently have an accountant on staff. You’ll likely be able to master this program yourself.
(That said, as your business grows, you might want to outsource your accounting work. This is often more cost-effective than hiring a full-time employee.)
It’s important to know that ZipBooks isn’t entirely free. You can upgrade to premium versions to access more features. That said, with the free plan, you can send unlimited invoices, manage an unlimited number of both vendors and customers, and accept payments through Square or PayPal.
Wave is another free option worth considering when exploring accounting software products. Like ZipBooks, there are premium upgrades available, but if you’re just starting out, the free plan may suit your needs just fine. It lets you:
- Connect an unlimited number of bank and credit cards
- Track income and expenses, with no limits
- Invite an unlimited number of collaborators to use the tool
- Run multiple businesses with a single account
- Send invoices in any currency
- Efficiently send estimates that are turned into invoices
- Use templates to personalize your invoices
- Accept payments through Wave, with fees as low as 1%
- Scan an unlimited number of receipts through a free app (available for both iOS and Android)
- Capture receipts, even when you’re not online
- Automatically record receipts in the form of accounting transactions
GnuCash is an open-source option worth keeping in mind if you need finance software that’s not only affordable, but very easy for a beginner to use. It was in fact designed for this specific purpose. With GnuCash, you can monitor bank accounts, record transactions, schedule transactions, generate multiple types of charts and graphs, reconcile statements, track investment accounts, and much more. Additionally, if you use an Android device, you can download the GnuCash app. This helps you manage your accounting needs on-the-go.
It’s also worth noting that, as an open-source software, GnuCash allows developers to modify the source code. That means you could tailor it to your specific needs if the current features aren’t adequate.
Keep these free small business finance software options in mind as you develop accounting procedures. When your business grows, it may be necessary to coordinate with accounting experts to address your expanding needs. At first, however, these free programs will help you stay on top of your finances from the start.