Akaunting - Free Accounting Software

Akaunting is a free, open-source accounting software designed for small businesses and freelancers. It offers a comprehensive suite of tools to manage finances efficiently.

Features

• Invoicing: Create and send professional invoices to clients, facilitating prompt payments.
• Expense Tracking: Monitor and categorize expenses to maintain accurate financial records.
• Client and Vendor Management: Maintain detailed profiles for clients and vendors, streamlining transaction tracking.
• Multi-Currency Support: Handle transactions in various currencies, with automatic conversions to your primary currency.
• Financial Reporting: Generate detailed reports to gain insights into your business's financial health.
• Client Portal: Provide clients with access to their transactions and invoices, and accept bulk payments online.

Pros

• Free and Open-Source: Akaunting's standard on-premise version is completely free, offering full access to its source code.
• User-Friendly Interface: The platform features an intuitive design, making it accessible even for those without accounting expertise.
• Customization: Being open-source, it allows for extensive customization to suit specific business needs.

Cons

• Technical Setup Required: The on-premise version necessitates technical knowledge for installation and maintenance.
• Limited Advanced Features: Some advanced functionalities, such as payroll and inventory management, require paid add-ons.
• Support: Official support is limited; users often rely on community forums for assistance.

Free Plan Details

Akaunting offers a free "Standard" plan in its on-premise (self-hosted) version, ideal for freelancers and small businesses. This plan includes essential features like invoicing, expense tracking, client and vendor management, and multi-currency support. Users can manage up to 1,000 invoices, with unlimited customers and vendors. While the core functionalities are robust, additional features and apps are available for purchase to enhance the platform's capabilities.