When you start a business, the biggest concern is managing the financial records. Earlier, accounting ledgers were handled manually. Today, technological advancements have made it possible for modern businesses to digitally manage their accounts. This approach has definitely reduced the extra efforts and eliminated the chances of errors. Thus, it would be ideal to say that accounting software is indispensable to streamline any business.

However, organizations are often perplexed about which accounting software to go for. Needless to say, the primary goal should be choosing a software program that’s quick, efficient, accurate, and reliable.

Let us put an end to your search with our compilation of the top three free-of-cost accounting software programs. The free tools are no less than the paid ones and offer several useful features.

Why Do You Need An Accounting Software?

Accounting software programs are highly useful for assisting accountants and bookkeepers in reporting and recording a company’s financial transactions. They offer several benefits, including:

  • Getting the business reports ready
  • Save a lot of time
  • Help in managing taxes
  • Serve as a cost-efficient option
  • Highly accurate and swift

3 Best Free Accounting Software Programs For Small Businesses

Here is our hand-picked list of free accounting software in Australia that every small-sized business should consider!

1. Slickpie

This cloud-based, easy-to-use accounting software is perfect for small-scale businesses. The free-of-cost software allows the users to create personalized online invoices with their logos, and share them automatically with their clients.

Further, the users can generate financial reports, manage sales tax and execute bank reconciliation. The best part is, you get complete online and mobile support, ensuring a seamless user experience.

Remind your clients about the pending payments via email and put an end to the constant chase! SlickPie can be integrated with other applications such as inventory systems, CRMs, POS systems, and payroll.

  • Set auto-reminders for late payers
  • Consistent support
  • Keep your sales taxes organized
  • Monitor your bills from a single place
  • Enjoy bank reconciliation and keep track of the live updates
  • Get comprehensive financial reports
  • Instant payments using PayPal, credit card and Stripe
  • Guaranteed security with 256-bit encryption

2. Wave

An integrated platform for a complete accounting solution, appropriate for small businesses looking for free software. It is user-friendly and highly functional, making it a perfect option for inexperienced users. Get hold of your bookkeeping processes and streamline your business.

Now, manage invoices, payroll, finances, and billing- everything with a single tool. Further, Wave takes care of receipt scanning and credit card processing, too. Keep a real-time track of all your bank accounts and credit card details with bank reconciliation.

The users can utilize customizable templates and payment terms as per their business requirements. Also, add unlimited users without any issue! Notify your customers about the payments by sending invoices via email.

  • Automatic payment features for regular customers
  • Keep a track of your expenses and income
  • Bank reconciliation
  • Customizable templates
  • Double-entry accounting
  • Connect an unlimited number of users

3. Sunrise

Now, enjoy simplified accounting and bookkeeping via this cloud-based accounting application. It offers a comprehensive GST solution to the bookkeepers.

The software is loaded with highly beneficial and feasible features including invoicing, quote management, accounting, billing, refund processing, etc. Not only that, you can manage financial reports and contacts under a single roof.

The smart recurring invoice feature auto-generates invoices shares them with your clients and charges their credit cards. Sunrise is empowered with a tax management module that automatically adds taxes as per the customer’s location. Enjoy real-time monitoring of your profit and loss, customer statements, balance sheets, tax summaries, etc.

  • Multi-currency support
  • Cash flow reports generation
  • Customized invoices
  • Automatic payments for regular customers
  • Get monthly wellness reports
  • Monitor your income and expenses

Final Words

Selecting an accounting software could be made easier by assessing your business needs. The market is flooded with options. Hence, we have curated a list of our favorite three high-performing software that handle small-sized businesses’ accounting functions properly. We hope you found this blog helpful!