Money is like the fuel in the car – the more you have, the more comfortable your journey will be.
You must know about your expenses and income resource and have a real-time check about where you stand financially and how you can help yourself to be better by saving money smartly while maintaining your current lifestyle.
In this era of technology, you can begin tracking your funds using software and mobile applications. In our daily tasks, we often use smartphones or computers and through these gadgets along with reliable software we can track our finance and make effective plans.
Here’s the list of free accounting software and apps to manage your money.
Buddi is a personal finance and budgeting software compatible with Windows, Linux an Mac. The software is the best solution for the people who want to manage and keep track of their transaction but don’t have any glamorous financial background.
Buddi is an open source software which means you don’t have to pay anything to download and use this software. With its easy user interface and simple architecture, anyone can seamlessly manage their transactions.
Although you will need Java 1.6 and virtual machine in your systems to run the software, you can download other plugins of Buddin to make it more robust and featureful and ease your finance managing routines.
You can make reports; import and export those reports to save it for better planning.
Adminsoft Accounts is a brilliant free accounting
You can effectively manage purchase order processing, stock inventory, invoice management along with many double entry accounting capabilities. Its modules can work with multiple users.
Adminsoft Accounts works on Windows operating systems, but if you wish to use it on your Mac or Linux systems, you will need Windows’ emulator to do so.
Usually, software needs to be installed on a local system to use it. When it comes to Money Manager Ex, you won’t have to go through any installation process because it can run by plug-and-play. You can copy this software on your pen drive and just attach the pen drive to use the software on any system.
You can get the overall view of your financial standing through this software’s layout. Moreover, its cross-platform compatibility makes it scalable because you can use it on a PC and on an Android device.
As an individual, you will be able to keep track of where is your money going, where they are coming from and when is the due date to pay your bills. This software meticulously forecasts your cash flow and lets you import your data from a CSV format too.
This open-source software supports more than 24 international languages and brilliantly covers a wide range of nationalities.
Gnucash is the best finance tracking software for individuals and small businesses. You can track your stocks, investments, bank accounts balances, income, and expenses at one place.
This intuitive software shows accurate tracking and concise reporting of your money. Along with stocks, you can also maintain bonds and mutual funds in this software. Guncash allows you to make graphs and your financial proceedings to plan better and efficient wealth management.
For small to medium size business’ regular transactions,
You can also do statement reconciliation to match the expenses with account credit and income with account debit.
Akaunting has no hidden cost or trial version for a specific time. It has lifetime validity and freely available for everyone with internet access.
Moreover, it also has a mobile friendly version that makes it scalable and accessible to use it from any device without worrying about the screen size and compatibility.
Akaunting has got 1600 Github stars and support of 5000 community contributors. Moreover, it allows you to categorize your expense and make smart invoices for your professional activities.
You can also have customer and vendor management functionalities so that you can assign and create particular invoices.
You can also filter such entries for better visualize your current financial condition. Akaunting also allows you to send and accept invoices on their platform without charging any mediator fee.
25000 people using this software’s cloud-based version while 70000 people have downloaded this software for their convenience. Akaunting makes free accounting possible on 37 international languages.
Quickfile is cloud-based software that productively handles your wealth management needs. Although you need an internet connection to use this software as it cannot be downloaded on your local system, it is a worth using if you can manage to get a stable data connection.
You can literally automate your accounting and reconciliation procedures through this software and avoid doing manual tasks.
The software helps you connect many online services and UK banks to seamlessly track your cash flow. You can get MTD compatible VAT returns data along with estimation or quotation for your routine activities.
This cloud-based software is handled from the UK. However, it has other foreign currency support which would let you manage your transactions without any hassle.
The intuitive platform has the easy layout and self-explanatory elements that can be easily used even from a layman.
One more interesting feature of this online wealth management software is its capability to fetch all the data from a photograph of a receipt. You just have to capture the photograph and upload the picture on the platform.
Quickfile automatically fetches all the necessary details for you.
Free for small and medium-sized enterprises, Quickfile also provides attractive and trackable invoice making.
7. Monefy – Money Manager
Monefy is an Android and iOS application which creatively helps you manage your finances. If you are managing your wealth from computer software, you have got a keyboard or mouse or even touch screen to do functions.
When you shift to mobile, you have got tiny space compared to a desktop or laptop to do all the tasks.
This mobile application makes adding new records quick and easy. Its attractive layout is self-explanatory about how you can efficiently manage your finances. It has some creative widgets that can ease your tasks through your phone’s lock screen.
Along with password protection functionality, you can even secure your data and stop anyone from accessing your app without your consent.
You can check and monitor your expenses in easy-to-comprehend charts and graphics that would allow you to better manage your existing balance. You can have multiple account support on this app and have currency calculator to accurately track your funds.
This app also has some in-app-purchase widgets and a pro version that can unlock an extremely productive version of the app and take your money management tasks to the next level.
This wealth management allows multiple accounts of users to seamlessly manage at one place. You can have also sync your other cloud storage like Dropbox, Google Docs to import and export data.
This application allows the user to visualize his wealth proceedings in various chart formats like pie, bar, trend, etc. This app makes your accounting and finance reporting tasks easy.
Its UI and features will allow every type of users to get to know more about their on-going financial condition and make a smart decision to optimize an existing scenario for a better future.
9. Mint: Budget, Bills, Finance
This mobile app, available on Android and iOS, effectively manages your bank accounts, credit cards, investments, bills, expenses and incomes at one place. You can comfortably check where your cash is going and which are the most income generating activities you are doing at the moment.
The app gives enhanced details and reporting about your the upcoming payments and your loan dues. It allows you to stay on track about your money matters while saving your time by giving you instant and comprehensive details about your balances.
After using Mint, you won’t have to pay any penalty or late fees because it will remind you to pay your bills on time. Moreover, you can secure your data by using two-factor authentication on your Mint app and block every malicious activity that might ruin your privacy.
Mint has been rewarded by many awards and recognition in its career. To name a few, in 2016, it got recognition in Time Magazine’s top 50 mobile applications of the year. It has also featured on renowned news and media websites like Wired, Huffington Post, PC Magazine, etc.
For millennials, spending time with your friends sometimes might become stressful when they have to split the bills with others.
Walnut allows you to track who paid when and accurately help you splitting your bills when you go out with your friends. Now, no need to remember or manually note everything when you are traveling in a group or managing a surprise party of your loved one.
Walnut access your location and shows you where you can find ATM near your current location. You can not only pay bills but track your dues and plan your expenses accordingly.
Walnut also allows you to pay your credit card bills, check and manage your bank account and credit card details along with the bank balance.
You can specifically track your transportation and entertainment expenses to get enhanced data about your spending.
If you have any special scenario to track your expenses, Walnut allows you to cope with special occasions by giving you advanced filters and tracking options on its app.
11. Financial Calculators
This application is available on both leading operating systems, Android and iOS. It has the capability to cover almost all your finance management task. With in-built currency calculator, you won’t have to go to Google to search for an equivalent amount.
It has a string of various calculator that counts compound interest, return on investment, MIRR, IRR NPV, etc.
Other calculators are Rule of 72 Calculators, credit card calculators, stock calculators, auto loan and lease calculators, etc.
One of the unique features of this app is a retirement calculator. Under that, there are tons of technical calculations that would allow you to plan your retirement and help you strategize in saving your funds for a better future.
Conclusion – what’s next?
Once you install these free accounting software and mobile applications on your smartphone, you need to consistently use them and update the data to get results.
Your job would become crucial after installing these tools in your respective systems. If you just stay relax and won’t aggressively use these tools, you will end up where you had started. Try to use these tools on your every financial transaction.
If you have used either of these tools any time, feel free to share your thoughts and experience in the comments. If you are using any other paid or free accounting software for your daily tasks, you can mention them too.