Best 10 free accounting software in South Africa in 2024
Accounting software can be used by business owners, freelancers, and contract workers to manage their finances. These software suites include numerous features, including the generation of financial statements, invoicing, expense tracking, payroll management, and many more. Like multiple other useful software, accounting software comes in various forms, some free and others paid. Which is the best free accounting software in South Africa today?
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TABLE OF CONTENTS
- The best free accounting software in South Africa
- What do you look for in accounting software?
- What does accounting software do?
- What is the most popular software for accounting?
- Can you get QuickBooks for free?
- Can I use Excel for bookkeeping?
- How much does QuickBooks charge per month?
- What is the simplest bookkeeping software?
Choosing the best accounting software involves careful consideration of various factors, including its features, ease of use, and, ultimately, price. While most of these software suites come at a cost, there are some that are available for free.
The best free accounting software in South Africa
What is the cheapest accounting software in the modern day? Here is a list of the best non-subscription accounting software one can get today.
1. Wave Accounting
Wave is one of the top free accounting software and has been known to be particularly suitable for freelancers and entrepreneurs who pay most of their bills online. The software’s design is well-thought-out and easy to use, with an interface that closely resembles that of Mint, another incredibly popular accounting tool.
With Wave, small business owners can track their invoices, incomes, and expenses and create reports. The software also allows one to run multiple businesses from a single Wave account. Besides the free Wave version, the company also has a paid plan for $20 per month.
2. Zipbooks
Zipbooks has a modern, polished interface and a variety of features that make accounting easy for the user. There are different software tiers, with the starter package being free to use. In this starter package, the user gets unlimited invoicing, making it ideal for individuals or businesses whose core operations revolve around invoices.
In addition to the basic features, one also gets free basic reports, vendor and customer management and digital payments through PayPal or Square.
3. FNB Instant Accounting
The FNB instant accounting software is a fully online, web-based solution that enables business owners to view and update their firm’s financial reports at any place or time. Any customer who holds an FNB Business Banking current account can use the software for free.
To start using, one must register with FNB, which will then grant access to the system by providing login credentials.
4. Money Manager EX
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Money Manager EX has an extremely user-friendly interface, making it one of the best options for beginners. The application is also portable, meaning one can save and use it as offline accounting software from a USB stick without having to install it. The optional Money Manager EX mobile application allows one to access their business records from a smartphone.
You can get this free accounting software download from the publisher’s official website.
5. GnuCash
GnuCash is one of the best open-source, free accounting software for PC. It offers the ease of use, flexibility, and usefulness often associated with subscription software. Some of its top functionalities include the ability to handle multiple currencies as well as extensive payroll features.
GnuCash is available for devices running on Android, Linux, OpenBSD, Windows, GNU, or macOS. If your business is centred on accounts payable and receivable, you will find GnuCash to be among the top accounting tools available.
6. TurboCASH
TurboCASH is an accounting software that has been in production since April 1985. The software suite is designed for small and medium-sized enterprises but can also be used by individuals engaging in wide-ranging income-generating ventures. The software handles general ledger transactions, posting accounts, and producing financial reports. Users can also choose from the available plug-ins to enhance usability.
While the free version is incredibly popular, the company introduced paid plans after the 5.0 version update.
7. SlickPie
SlickPie is free online accounting software for small businesses, freelancers, and not-for-profit organizations. With SlickPie, one can manage bills, generate financial reports, and create customer invoices. The software is compatible with android, iOS, and Windows.
8. Zoho Books
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Zoho Books is a cloud-based accounting software with a remarkably easy-to-use interface. With the software, one can create invoices, do inventory, do project management, and numerous other financial management features.
The software offers a feature-packed free plan ideal for small or medium-sized businesses. Besides the free version, the software also comes in paid plans with five subscription options that range from $15 per month to $240 per month.
9. XTuple PostBooks
XTuple PostBooks is among the top accounting tools for individuals and small businesses involved in manufacturing and distribution. The software allows one to manage sales, customers, accounting, suppliers, and inventory.
While many free accounting software suites tend to specialize in particular functions, XTuple is quite well-rounded, making it one of the most useful accounting tools for a small business.
10. Akaunting
Akaunting is an easy-to-use software that lets users monitor their incomes and expenses to generate reports and create payment invoices. In the free version of Akaunting, the user can only do single-entry accounting, including inputting expenses, creating invoices, and inventory management. The user cannot connect bank accounts or credit card accounts.
Still, one can access more advanced features like online payments by downloading plug-in apps with annual or monthly subscription fees.
What do you look for in accounting software?
The most significant factors to consider are the cost, features, and ease of use.
What does accounting software do?
It manages and records the day-to-day financial transactions of an individual or organization, including their fixed asset management, expense management, revenue management, accounts receivable, accounts payable, and sub-ledger accounting. It then assists in the preparation of the said entity’s financial statements and reports.
What is the most popular software for accounting?
QuickBooks is the most popular accounting software today.
Can you get QuickBooks for free?
Students and teachers can get free access to QuickBooks Online through the company’s Intuit Education Program (IEP).
Can I use Excel for bookkeeping?
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Excel has several helpful features and functions that can help you create a small business bookkeeping system. However, it has glaring limitations that make it unusable as a functional standalone bookkeeping software.
How much does QuickBooks charge per month?
The company has three plans; the Simple Start costs $30 per month, Essentials at $55 per month, and the Plus package at $85 per month.
What is the simplest bookkeeping software?
FreshBooks is one of the easiest accounting software to use. This is because it is specifically designed for first-time users with little to no accounting knowledge.
Have you been searching for the best free accounting software in South Africa today? This guide has everything you need to know about the top options to choose from.
READ ALSO: 5 best small business funding resources in South Africa 2022
Briefly.co.za recently explored the best business funding sources in South Africa. For numerous potential entrepreneurs, the issue of capital sourcing is among the trickiest ones to navigate. Generating inexpensive capital is among the biggest hurdles that business owners must jump.
Luckily, there are several options one can consider when it comes to business funding. These vary in structure, capital limits, ownership implications, and other attributes.
Source: Briefly News
