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Be it small, medium-sized, or large; every business needs the most effective accounting software it can get to help it with its accounting and bookkeeping. The right accounting software can make a big difference in your business, and these differences can lead to differences in how your business will perform in the industry.
However, one of the best ways to maximize the efforts you put into your business is by using open-source accounting software that you can easily tweak to fit the unique attributes of your business. This software can help you track your expenses, manage your resources, etc., more effectively than traditional accounting software will.
If there are such differences between the outcome of open-source accounting and ordinary accounting software, then it means a lot for you to have the best open-source accounting software at your command. For this reason, many business owners and managers are desperately in need of open-source accounting software.
However, with the numerous accounting software in the market, users are confused about which is the best option. To help resolve this issue, we have compiled a list of the best open-source accounting software you would like.
The Top Best 6 Open-source Accounting Software
To get a better fit that will match your business and get you better management and accounting, you can select from the following best 6 open sources project accounting software and reap all the advantages of having open sources software at your fingertips.
- Akaunting – the overall best open-source accounting software.
- Gnucash – top double-entry open-source accounting feature.
- ERPnext – best ERP open-source accounting software
- Odoo -best e-commerce open-source accounting software
- Open miracle – top user-friendly open-source accounting software
- Turbocash – best multi-currency and multi-language accounting software.
1. Akaunting – The Overall Best Open-source Accounting Software
From our research, Akaunting tops the list of the best open-source accounting software. It is free, open-source accounting software for small and medium-sized businesses but also a great option for freelancers. You can use it to track your time, projects, cash flow, income, and expenses, etc., and you can either choose to use its cloud version or have it installed on your desktop.
As the top best open-source accounting software, Akaunting will get you through all the necessary accounting, and bookkeeping needs your business could have.
Pricing
Akaunting is entirely free.
Features
- It lets you easily track your income and expenses.
- You can simply manage the finances of your multiple businesses from your one admin dashboard.
- Easily create custom invoices and send them to your clients or customers faster.
- You can track and schedule payments. It facilitates commission-free online payments.
- It creates unlimited bank and cash accounts and tracks their finances, opening, and closing balances.
- It can create invoices in any currency.
- It gives you detailed financial reporting with information that would help your business improve.
Why Do We Recommend Akaunting as One of the Test Open-source Accounting Software?
We recommend Akaunting as the best open-source option not only because of its free nature but also because of the host of features, easy-to-use interface, and integrations with both free and paid apps that will level up your experience.
If you want accounting software that could also allow you to modify its software to fit your business, then Akaunting is the right option for you.
2. Gnucash – Top Double-entry Open-source Accounting Feature
This open-source accounting software implements double-entry bookkeeping for personal and small business finance management, freely licensed under the GNU GPL. It’s highly compatible with Microsoft Windows, Mac OS, Linux, BSD, Solaris and has mobile versions for both Andriod and iOS.
Like all other open-source software, it is flexible to modifications to fit you, and you track your income, payments, expenses, etc.
Pricing
Gnucash is completely free to use, but you can make donations to the program.
Features
- Gnucash enables bank reconciliation of all your transactions.
- It gives you excellent income and expenses tracking.
- Inculcates payroll management into its functionalities.
- You can also use it as your checkbook register.
- It follows accurate accounting principles to give you the best of profit and loss analysis and balance sheets.
- You can easily schedule payments and transactions.
- Its double-entry feature gives you an accurate view of how your business is performing.
- With Gnucash, you can easily track your bills, payments, time and income, and expenses.
Why Do We Recommend Gnucash as One of the Best Open-source Accounting Software?
We recommend Gnucash because of its awesome double-entry feature for managing your finances. It also offers you a range of features and tools that will help your business thrive, handles lots of international languages and currencies, etc.
What’s more? Gnucash is completely free.
3. Erpnext – Best ERP Open-source Accounting Software
This accounting software is 100% open-source enterprise resource planning integrated with accounting features that make it one of the best open-source accounting software you can get. Its features and tools are designed to help businesses with accounting, payroll, production, sales management, purchases agreement, payments, etc. ERPnext is also licensed by GNU GPL.
Pricing
ERPnext open source is also a free version, and it offers a 14-day free trial for its enterprise plan, which starts at $25 per month and has a 14-day free trial,
We strongly recommend the free version; it has all the basics you need to drive your business.
Features
- It gives you a real-time overview of your cash flow.
- it helps you with production planning, bill of materials, etc.
- Easy maintenance of your assets, tracking their movements, depreciation adjustments, etc.
- ERPnext integrates with apps to maximize your efforts and track tasks.
- It comes with more than 1000 objects to help run your business.
- Includes warehouse, inventory, project, and distribution management.
- ERPnext provides you with excellent reporting and analytics for your business.
Why Do We Recommend ERPnext as One of the Best Open-source Accounting Software?
We recommend ERPnext because it is top of the game at open-source ERP management and will help you through multiple verticals such as healthcare, education, retail, and production.
Just like most open-source accounting software, you can use ERPnext for free.
4. Odoo – Best E-commerce Open-source Accounting Software
Odoo is a suite of business management solutions with accounting capabilities with fully ERP customizable features. As one of the best open-source accounting software, Odoo is packed with so many accounting features that will satisfy your business needs related to financial management and bookkeeping.
Pricing
Like ERPnext, Odoo offers a free version while its enterprise plan is $20 per month/ feature.
It offers you a free trial of 14 days.
Features
- It helps you to amplify your marketing by automating marketing for you.
- It offers a customizable platform, dashboard, and interface. It provides you with easy data importation and exportation.
- Excellent account payable and accounts receivable analysis four business.
- It enables you to make and receive faster online payments.
- It inculcates inventory tracking and ordering for your business.
- Odoo enables faster bank reconciliation with your accounts.
- It offers you more time, income, and expense tracking.
- You can easily engage clients with multiple currencies and language
Why Do We Recommend Odoo as One of the Best Open-source Accounting?
We recommend Odoo because of its excellent integration with so many apps and software. Its uniqueness includes a user-friendly interface. However, one main reason for our recommendation of Odoo accounting is its integration with e-commerce and payment platforms such as Shopify and PayPal, etc.
They also offer one of the best customer support services to help you sort out any technical and accounting issues you might face.
5. Open Miracle – Top User-friendly Open-source Accounting Software
Open Miracle is another free open-source accounting software built to suit all your traditional accounting and bookkeeping needs. It offers an easy-to-use platform and powerful features designed to ensure a professional and accurate balance of your books, transactions, and reports.
What’s more? You will find it easy to use even if you do not have basic knowledge of accounting.
Pricing
Open Miracle is free of cost.
Features
- It automates efficient financial reporting for your business.
- It adopts multi-currency transactions and accounting.
- It helps you prepare salary sheets in an efficient and timely manner.
- It keeps track of your budget, analyzes your income and expenses, and tracks your core accounts.
- It enables easy creation of invoices with its POS feature.
- Its source code is also available for free.
- Open Miracle comes with various features and plug-ins, such as Miracle Skate.
- It is also good for invoices and payments.
Why Do We Recommend Open Miracle as One of the Best Open-source Accounting Software?
We recommend you Open Miracle because of its easy-to-use, user-friendly interface. It is also available at no cost, and its source code is entirely up for free.
As an addition to these attributes, Open Miracle offers you some set of study packs and resources to help you get the best out of your business.
6. TurboCASH – Best Open-source for Multi-currency and Multi-language Accounting
Last on our list is Turbocash, open-source accounting software developed to serve small businesses. It aims to help you streamline your business accounting and bookkeeping processes. Over the years, Turbocash gained popularity among restaurants and consultants, which are their favorite options for choosing the right accounting software.
Pricing
Turbo pricing is divided into its desktop on-premises option and the cloud-based option.
TurboCASH 5 Business plan: $ 6 monthly and $ 60 per year for a single user.
TurboCASH 5 business plan: $19 per month and $ 200 per year for five users.
You can use the online quote maker to get the pricing for the cloud version, which starts at $500 for one user per year.
It also offers a free version for users who may not want the advanced options.
Features
- You can simply connect it to your bank to enable bank reconciliation of all transactions.
- It offers multi-currency transactions, languages, and accounting.
- It provides timely updates as regards sales tax, tax accounting, and reporting.
- It adheres to generally accepted practices of GAAP and IFRS.
- TurboCASH offers you numerous templates and a simple interface.
- You can also easily create custom databases.
- It is good for tracking income, expenses, budgeting, and making drafts.
- You can also easily access your finance updates with the mobile version, which gives you the best financial reporting and tracking even when you are on the go.
Why Do We Recommend Turbocash as One of the Best Open-source Accounting Software?
One major reason Why We recommend Turbocash is because of its remarkable multi-currency accounting capabilities. This makes it a favorite among businesses that have to do with across the clients. In addition to this feature, it is also excellent when with multi-languages. Isn’t that nice?
Turbo also offers you a free version that you can use if you are not interested in the advanced options for your business and financial solutions.
Last Tip
We know you might have experienced the strenuous task of knowing the best open-source accounting that will help you through your accounting and bookkeeping business processes.
We were once in your shoes, and We know that a large amount of software out there isn’t making the task any easier.
For this reason, we have compiled this list of the best open-source accounting features for your business. Starting from Akaunting – the overall best open-source accounting software to Turbocash, the best open-source software for multi-currency and multi-language accounting.
This list contains the best open-source accounting software in the market. We have accessed across different functionalities and features that they offer, including customer support, user-friendly interface, tools, add-ons, and Integrations.
However, as you make your choice among the open-source software in this list, our last tip to you is that you should take note of the one that matches your business with the right tools, features, and requirements. While most of the best open-source accounting software is free of cost, pricing will not affect your decision-making in any way. So free to accept the joy ride as you enjoy the many advantages of free open-source accounting software.