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If you are running a business, you absolutely need to track your expenses and income. It is essential for business owners to maintain their accounting for taxes. They should put all their efforts to save a lot of time and hassles for the upcoming tax season to lower their tax bills. This can be done by using appropriate accounting software. By using such accounting software they can track their expenses with accurate results and manage their comprehensive finances. You just need to enter your transactions, collect payments, create financial reports and generate invoices. Here are the top free accounting software options to choose for your business in 2020.

8 Top Helpful Free Accounting Software Options For 2020

Business owners stay up to date with their financial matters especially with their accounting. That’s where accounting software comes in the picture. Such accounting software helps business owners stay up to date and manage their fiancés easily and effectively. Some comes with the huge cost and some with free. Here are top free accounting software options that you can choose for 2020.

ZipBooks

ZipBooks is web-based software offering free features through their ZipBooks Starter Plan. With this plan you can have basic bookkeeping and maintain balance sheet to check out profit and loss. This accounting software also offers quote and invoicing features from where business owners can send basic quotes and estimations. They can also send invoices to their clients and also accept payments via PayPal and credit/debit cards. With ZipBooks’s free plan, you can only have one user and one bank account connected to it.

MixBit

MixBit is invoicing software that is rich in features and having a user-friendly interface. It is the best option to manage simple accounting in just few seconds. It provides many colorful templates for businesses to choose and help them create the best invoices to get paid quickly. With MixBit, you will be able to have outstanding invoices, track them and also set reminders for the invoices you have sent to collect the payments. This will help business owners notify how their clients have made the payment. It also offers various options to the clients to make payments.

This tool is consider best for tracking your expenses and analyze the business cash flow with ease. There are also options to generate different types of reports for financial transactions. It provides 14-day free trial for business owners to experience the services MixBit offers.

Wave

Wave is also web-based accounting software that numerous features included for free of cost and the best thing about this software its features are free forever. The core advantage of using Wave is you can have all your information stored automatically in the cloud. Wave allows businesses to manage their credit accounts and generate financial statements professionally. Not only this, you will be able to connect to numbers of credit cards and bank accounts without any trouble. Wave is the best tool with the simple setup and elegant software design. This also offers email support for business owners in case they need any help.

xTuple PostBooks

xTuple PostBooks is open-source accounting software that offers free features for SMEs. This software allows business owners to connect all their credit cards and bank accounts. You can keep track all the financial transactions from a single tool and also able to manage collected payments with ease. This software is computer friendly and you must download it in your system. All the data that you use will be saved in your computer only. It does not have cloud access so, if you have bad internet frequency you do not have to worry about it.

SlickPie

Businesses that are new in the business and having a less experience in bookkeeping, SlickPie software is designed for them. It is the best tool for business that needs automation features. This software includes auto-recurring invoices and in-built application that enables businesses to include bills and receipts automatically. If you don’t want to use auto feature you can also make manual entries for your accounts payable.

TurboCASH

TurboCASH is a free accounting software that is very popular and very old into the market. It is available in 23 languages and has the online community with more than 100,000 active users. This accounting software is designed for the SMBs, but it is probably more famous among freelancers and sole traders. It can handle VAT, purchase orders, debtors and creditors. It also manages multiple companies and users. All the essential basic features that TurboCASH offers are free of cost and cover it effectively but its paid version is also available for businesses that want to have advanced features. With this advance feature businesses can have all the data stored in cloud, not only this it will also provide budgets, ledger analyzer, payroll, and PDF reports.

NCH Express Invoice

NCH Express Invoice is designed to create quotes, estimations, and invoices easily, to automate recurring and help businesses send email or fax. And also, it offers a decent range of reports. The free accounting software is a front-end for web-based services, but that is ideal for businesses getting bad internet connection. It caters for most kinds of businesses having less than five members of staff, you can have it all for free of cost.

Invoice Expert Lite Edition

Invoice Expert’sLite Edition is limited to 100 customers/products, but it reserves the features of the paid version in advanced edition which is approx $69.95. The paid version includes advanced inventory and customer management, invoicing and inventory management. This free accounting software is a little bit frightening at first stage, especially when it comes with the template-editing, but is simple enough to use.  This tool is the best for businesses for creating invoicing and quotes.

Conclusion

Free accounting software is the best choice any business owner can make especially small business owners and start-ups that are searching for the solution that help them manage the finances in the easiest way. Using free accounting software will help many businesses in saving lots of their time and minimizes the efforts their employees spend in unnecessary tasks. Above listed accounting tools help you manage all the finances in quickest way and are helpful for all the business owners to get paid instantly.