Free Accounting Tools For Your E-commerce Store.
Excited about being your own boss and starting a business but dread having to manage your finances. Trust me there are others who feel just like you.
I know accounting and bookkeeping may not be your best skill, however, it is important for you to know that it doesn’t matter the type of business you’re planning to run, without bookkeeping and accounting your online business won’t be successful. To avoid failure as well as make the process of bookkeeping and accounting run much more smoothly, there are few free online resources available at your disposal.
In the Beginning
You can utilize the excel sheet which will help manage your money as well as organize a list of expenses that you earned while conducting your E-commerce business. This would be a good starting point for a new business, however, as your business grows and expands then you will need a more sophisticated tool to manage your finances.
Seek Other Accounting Software Used by Small Businesses
Based on the needs of small businesses there are a few online accounting tools available, however, the more common ones are the ones we want you to be aware of. These free accounting tools should be able to conduct tasks such as writing and processing customer’s bills and receipts, generating reports, tracking income and expenditure, payment of utilities, and giving you the ability to share this information with others in your business.
Below are programs that satisfy all the conditions listed above with a slight highlighted difference.
Waves is a well designed and free software used to provide accounting services. It also has an app that makes it easier to navigate on mobile devices. Some of the services that Wave provide are: creating invoices and receipts for customers, providing financial statements, and joining bank accounts and credit cards with no limits. Unfortunately, there is a disadvantage for new businesses as they do not include an option for payroll unless you pay for a premium package.
Slickpie provides a free plan to start up your small business. This is a software many small business owners can use to manage accounting which includes the generating reports and invoices. It also has a feature that allows you to calculate expenses in several currencies which makes it very helpful for freelance workers.
With zipbooks software, productivity increases because it assists small businesses to make quick payments, establish reports, reconcile bank statements and link your accounts to a specific financial institution, which overall, make your financial procedures more efficient.
Gnucash is a free software tool that is very straightforward and flexible to use. It also manages some accounting and bookkeeping needs such as staff payroll, producing credit notes and bills, and accounts that are payable and receivable.
Cloudbooks is a program that conducts billing online. It makes payment online easy and simple as well as assisting in late payments, it is more likely used by small businesses. It also assists in making invoices, accepts online payments, and other accounting needs.
Increase in Work Performance
Above is a list of free accounting tools that E-commerce businesses use. There are a lot more that are offered however the ones mentioned are handy and free of cost. It doesn’t matter whether you’re a small or big business, these software works perfectly fine to accomplish accounting and bookkeeping needs and will ensure the success of your business. Also, as your business expands, you may outgrow this basic software and would need to look into buying more sophisticated accounting software.