Free Online Accounting SoftwareReading Time: 2 minutes
Accounting? Every growing small business needs one to avoid getting into the books of the IRS or local authorities. Free online accounting software that provides the basics and simplifies how you handle your everyday bookkeeping activities is a plus.
What is online accounting software?
Online accounting software is a cloud-based accounting solution that helps manage your bookkeeping processes without the need to install any application or program on your PC.
Features of the software are accessed by users when they log into the platform via the internet.
This also enhances remote teams as everyone can access the same data and the exact software version without any disparities.
Now you know about online accounting software. Are there preferred ones?
Best online accounting software for small business
Determining the best online accounting software for a small business depends on many factors tailored to the needs of the business.
The following questions could help your decision on online accounting software:
- User experience: Is it easy to understand and navigate the software?
- Integrations: Does it have integrations with other platforms that support your business, e.g., Inventory, Payroll, Double entry, Tax management, CRM, Expenses, etc.?
- Invoicing: How easy is it to send invoices and get paid on time?
- Security: How secure is your data?
- Use of data: Can you easily import or export your data?
- Connect your bank: What’s the ease of connecting and syncing your bank data?
Some accounting softwares are free forever with the basic functionalities a small business owner needs. In contrast, others are free with limited functions such as the number of invoices a user can send, report features, ability to manage different companies, etc.
While the paid version of accounting software will most likely provide all the needed solutions for small businesses, small business owners may not necessarily need all those features and want the basics to sort day-to-day bookkeeping needs.
Free online accounting software provides many benefits to small businesses, providing them with the basics for efficient accounting while minimizing costs.
Akaunting is free online accounting software
With Akaunting, you can access your finances instantly from any device: Mac, PC, tablet, or phone.
Every business can access data from anywhere and work on financials simultaneously. You can give limited access rights to anyone, e.g., an accountant, so they only see what you’ve permitted.
There are a lot of issues that come with desktop accounting software. These programs are often costly and require some training to understand and use effectively. Furthermore, keeping desktop accounting software up-to-date is expensive and clunky. And most important, backups fall on your shoulders when you are not using online accounting software.
Another significant advantage of online accounting software is automation. You can connect to bank accounts, payment gateways, and even management systems, saving you a lot of time and money. On top of that, you can allow your customers to pay their invoices online via their credit/debit cards.
How to get started
Akaunting has options that allow you to download or use the cloud version.
Whichever option you choose, the experience is the same simplicity, intuitiveness, and detailed reporting for your everyday bookkeeping needs.
It may interest you to know that Akaunting is an open-source accounting software created with Tailwind on the front end, using PHP 8.0 and Laravel 9 as infrastructure to deliver high-performing accounting functionalities and a better user experience.