Best Accounting Open Source Software can help you to manage all your business finances in one place. It has an interface that is easy to use, intuitive and clear. With this program you can do invoice management, create estimates, track payments and many more. Proprietary accounting software comes with a high price tag but a lot of times it offers little more than what you can get for free. Besides that, you will not be able to make any changes on the program if you wish to do so. Luckily there are open source software for small businesses like this one that offer professional functionality without the pricy fee.
Best Accounting Open Source Software of 2018. Free accounting software can save a small business thousands of dollars per year. Accounting software, also known as bookkeeping software, is an essential tool in any small business’ day-to-day operations.
- Personal finances manager
- Tailored for Plasma Desktop but compatible with others too
- Cross-platform (Windows, Linux, and macOS)
Skrooge is one of the most useful personal finances manager by KDE. It is originally tailored for the Plasma Desktop but other desktop environments are compatible.
Supports most of the basic features (reporting, budgeting, etc.) and allows you to work on some pretty big data sets.
ZipBooks: Best for Small Businesses Looking to Upgrade From Spreadsheets
Best for Small Businesses Looking to Upgrade From Spreadsheets
ZipBooks is a web-based financial software with a solid suite of accounting features. The company offers a free plan called ZipBooks Starter — an option that includes basic bookkeeping functionality, along with profit, loss, and balance sheet reporting.
It also covers certain invoicing and quote-related bases — plus the ability to accept payment via credit card or PayPal. It’s a powerful, easy-to-use solution, but its free plan is extremely free plan-ish.
The program’s features you can access with a free plan are restricted to the point that it might be easy to outgrow. You can only link one bank account and view basic reports with its starter option. Should your needs extend beyond that, you’ll need to upgrade to one of its premium plans.
And while those upper-tier plans are reasonably priced, they’re obviously not what someone who wants a free plan is looking for. Again, the solution itself is sound, but if you want a free program that will remain free as you scale, you should look elsewhere.
ZipBooks’ Key Benefits
- Unlimited Invoices
- Ability to manage unlimited vendors and customers
- Accepts digital payments via Square and Paypal
ZipBooks’ Key Drawbacks
- Only allows you to connect one bank account
- Only lets you view basic reports
Akaunting is an open source accounting software built using technologies like Laravel, Bootstrap, API, Swift Mailer, JQuery, etc. It is a platform and device friendly software which can help you manage all your company financials whether it is sending invoices to the clients or receiving payments online.
It is absolutely free software, no setup fees, and no hidden charges. Being an open source software, Akaunting installed on your host can facilitate full control over it. Moreover, you can manage your accounts on your fingertips from your Mac, PC, Mobile Phone, etc.
Having an easy to use interface, Akaunting is just perfect for small businesses. It has multilingual client & admin panel making it simple to use. Your financial data is extremely secure if you are using this software.
- Monitor the cash flow in your business and take smart decisions preventing loss and enabling the growth of the business.
- Send invoices to your clients in a professional manner and get your payments released quicker.
- Track company expenses to avoid unnecessary costs and improve the profitability of the business.
- Generate reports to check the financial health of the company and make decisions for the future strategically.
- Share invoices with your clients and accept payments online.
- Create categories for expenses and income for systematic reporting and streamlined processes.
- Add expenses and send invoices in any currency, the system would automatically convert them into your main currency.
- You can track inventory by recording the stock coming in and going out.
- Manage the finances of multiple companies from a single system by assigning different users to these companies.
- Add discounts for your loyal clients and accept payments accordingly.
- Create different types of taxes and link them to specific transactions, products, and services to ease out the entire taxation process and save time.
- Manage permissions of different users to keep the data secure and process simple.
The Key Takeaway
Akaunting is totally free and open source accounting software which is also rich in features helping you to manage your finances and keep track of your cash flow, invoices, and payments using a single admin panel.
- ERP & CRM
- Powerful Java Web Framework
- Cross-platform (Linux and macOS)
We’ve already mentioned this in our list of best open source CRM software. Apache OFBiz is an impressive open source solution that incorporates an ERP system and a CRM suite for various types of requirements.
It’s completely free – however, you will have to host it yourself (or just hire someone to do it). In addition to all the basic features needed for accounting software, it lets a developer extend/enhance features easily while being a Java-based web framework.
GnuCash: Best for Sole Proprietors
Best for Sole Proprietors
GnuCash is a free, open-source accounting solution that can be downloaded for Linux, Windows, and Mac OS X. It offers double-entry accounting resources, a checkbook-style register, scheduled transactions, and customizable visual reporting.
GnuCash’s initial setup and somewhat dated-looking interface might turn a lot of potential users off. But if you’re willing to tough out its tricky installation and don’t need your accounting solution to be particularly pretty, you’re left with a solid application that covers a lot of bases for free.
That said, it’s not much of a long-term solution for businesses anticipating a lot of growth. It’s better suited for sole proprietors who need a program to get them through their day-to-day. If you fit that bill, check GnuCash out.
GnuCash’s Key Benefits
- Double-entry feature ensures books balance
- Budget management tools can help plan financial strategy
- Works on a variety of operating systems
- Can handle internationalized dates and currencies
GnuCash’s Key Drawbacks
- Installation is less straightforward than most other platforms
- Interface isn’t particularly accessible or visually appealing
- No customer support
In my mind, there are three reasons to choose an open source software product. First, it’s free. Second, it’s easy to learn and use. (Or at least comfortable for people who are already familiar with office software.) And third, the community of self- appointed gurus is available to help you out when you run into trouble. Now let me tell you about the best accounting open source software to suit your needs, whatever they may be.