Free Accounting Software

Why Free Accounting Software

When generally referring to free software, often programs are of poor quality. At the very least, functionally is limited or available only on a trial basis. This is not the case with some free accounting software. Companies, such as Microsoft and Intuit, want your future business and promote free software in order to gain it.

The concept is that, as business needs grow, free product owners will become paying consumers as they upgrade to a more robust, feature-packed version. Additionally, consumers may wish to add compatible products and services, such is the case with Turbo Tax and QuickBooks.

Another factor playing into the decision to offer free software includes if users have used a free program to create their existing accounting records, they will be looking for a compatible program when they upgrade. No one wants to recreate their accounting files.

This also gives business owners the opportunity to try out several accounting packages at no cost before committing to one as a long-term investment.

QuickBooks

Intuit, the maker of QuickBooks, offers a free version of QuickBooks Simple Start Edition. The product is identical to the package you can purchase, but the free accounting software version is limited to a total of twenty customers and vendors. QuickBooks is reputed as the easiest to use among accounting programs with similar capabilities. Improvements made to the software, implemented in recent years, make QuickBooks a winning choice.

Primary Features

• Create invoices with basic templates
• Write and print checks
• Track and manage expenses
• Manage customer and vendor data
• Profit and loss reports

QuickBooks Advantages

While the Microsoft free accounting software program offers more functionality, particularly in the free edition, QuickBooks offers the following advantages:

• Finished product: QuickBooks is not a beta (testing) version, so you are less likely to encounter errors with the program.
• Popular with professionals: Most accountants are familiar with QuickBooks, so it is a preferred product of professionals.
• Product loyalty: QuickBooks offers a variety of affordable upgrades.
• General support: It is easier to find tips and advice online, due to its popularity.
• Training: A wide array of free training options are available to QuickBooks' owners.
• Peachtree compatibility: Compatibility with Peachtree accounting format.
• Support: Intuit offers 30-day support for the free version.
• E-commerce: Intuit provides recommended Web site stores and credit card processing which integrates seamlessly with QuickBooks.

Microsoft Office Accounting Express 2007

Microsoft offers a robust accounting program that integrates with eBay and PayPal transactions along with traditional accounting features. This alone is an asset worth considering for some users and one most accounting programs do not offer.

For individuals familiar with Microsoft Office, Word or Excel, the program should be as, if not more, intuitive than QuickBooks for new users. Additionally, Microsoft offers 90-day customer support for free with the use of Accounting Express 2007.

Office Accounting Express is currently a beta program, meaning it is a pre-release product subject to changes and further testing. As of this time, the product is only available for free until June 2007.

Primary Features

• Create customized invoices, purchase orders and estimates
• Over twenty business reports
• Manage customer and vendor data, support for Outlook included
• Track expenses automatically
• Automate bank account and customer payments
• Manage payroll and taxes

Office Accounting Express Advantages

Microsoft's free accounting software offers more features and fewer limitations than does Intuit's QuickBooks. The free version is suitable for many small office/home office users. As this is the second Beta version, errors should be minimal but a frequent backup of your data is a good idea.

• Easy-to-use: The program is more intuitive than QuickBooks for Microsoft Office users.
• Limitations: No pre-defined limitations on the number of customers and vendors is set.
• PayPal integration: PayPal records may be downloaded in CSV format and easily integrated into the program.
• eBay integration: eBay sellers can list items, track orders and process in real-time.
• Compatibility: Data can be imported from Intuit QuickBooks, Microsoft Money, Excel and Outlook.
• Customer support: 90-day customer support is available free-of-charge.
• Credit reporting: Integrated with Equifax credit services, QuickBooks owners can monitor customer, or their own, credit reports.
• Professional use: Share financial books online with your accountant via Microsoft Office Live.

Free Accounting Software Trials

If you would like to explore other options, some companies offer free trials. The following Web sites include some of the most popular accounting software programs with free trials available:

• Peachtree
• MYOB
• Simply Accounting

Conclusion

If you want the security of a veteran program with simple accounting features Intuit's QuickBooks is a likely choice, but not your only choice. Take the time to shop around for free or affordable accounting software that best meets your needs.