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free accounting software for small business
best free accounting software for small business

Best Free Accounting Software for Small Businesses : In my opinion!

One of the first things you need to consider as a small business owner is how you are going to invoice your clients and keep your accounts up to date. This process needs to be quick and simple, preferably automated as much as possible, otherwise you risk drowning in admin every week, month and year.

I have been using quickfile for my account management for a couple of years now and I have to say I am very impressed with this free accounting tool. So impressed I have written this post to recommend it to my clients. I consider QuickFile the best FREE accounting software for small businesses.

What is QuickFile?

free accounting software for small businessQuickFile is online FREE accounting software for small businesses and will suit even medium size businesses too. QuickFile is simple and fast to use, with automated invoicing and account management.

QuickFile was designed as an accounting system for the non-accountant. You didn’t go into business to spend hours learning how to use accounting software, with QuickFile you can get more done in less time.

With QuickFile you get all the tools you need to create beautifully designed fully customisable invoices. You can even create a branded online portal within QuickFile where your clients can view, download, print and most importantly pay their invoices. You can customize QuickFile to build branded reports, dashboards, charts and more importantly invoices for your clients. You can also easily enter purchase invoices.

Summary of QuickFile Features

For a full list of features visit the quickfile feature list page, here are just some of the things I feel make the software stand out for a small business or freelancer.

  • FREE – No trial limits, no restricted features or imposed limits…and definitely no need to provide your credit card details.
  • Simple bookkeeping for the non-accountant.
  • Save £1000s on unnecessary bookkeeping fees.

Security

  • Highest level 256bit SSL Security.
  • 24 hour offsite backups of your data.
  • Optional weekly backups by email or directly to your Dropbox account.

Invoicing Features

  • Create one-off invoices.
  • Setup a recurring invoice profile to auto-send invoices according to your schedule.
  • Create estimates and allow the client to accept/decline.
  • Send invoices by email with full customisation over the wording.
  • Send invoices by post.
  • Configure the style, layout, colours and images that will appear on your invoices.
  • Custom branded administration and client area.
  • Full reporting enables you to see your financial position at any given time.
  • Process full and partial refunds.
  • Tag invoices as paid directly from the bank.
  • Create and email account statements to your clients
  • Invoice for time related services (i.e. by the hour).
  • Online payments. Currently supporting Worldpay, GoCardless, SagePay, Stripe, Bitcoin and PayPal.
  • Attach files to your invoices.
  • Automated overdue reminders by email, with configurable timing and templates
VAT
  • Cash and Accrual based VAT accounting.
  • Online integration with HMRC allowing VAT returns to be prepared and sent electronically.
  • Full support for Flat Rate VAT accounting.

Purchase Ledger

  • Log purchases with multiple items and categorisation.
  • Add new supplier records on the fly.
  • Record payments in-line with your purchase.
  • Process full and partial credit notes.
  • Create, track and convert purchase orders.
  • Setup recurring purchase profiles to be created, weekly, monthly or yearly.

Banking

  • Support for up to 50 bank accounts.
  • Automated bank feeds with Barclays and Paypal
  • Chrome browser extension to stream bank data directly into Quick File.
  • Upload bank data from your online banking application in CSV format.
  • Dashboard view of your most frequently used accounts.
  • Bank statement matching tools to easily reconcile with your paper statement.

Design Customisation Features

  • All Quick File accounts are provided with a unique sub domain e.g. MyCompany.QuickFile.co.uk.
  • Create custom branded administration and client areas.
  • Select from 10 pre-saved colour themes or build your own.
  • Create your own horizontal tab menus for integration with your company website.
  • Upload your own company logo.
  • Advanced support for full HTML customisation of the headers and footers.
  • Fully customisable invoice design.

Reporting

  • Basic Profit and Loss report.
  • Basic Balance Sheet report.
  • Full access to chart of accounts and nominal ledgers.
  • Create your own customer reports and display your data in graph and tabular format.
  • Export your data view to CSV throughout many areas of Quick File.
  • Debtor and Creditor ageing reports
  • Historical debtor and creditor reports
  • Full project level reporting
  • Advanced segmented profit and loss reports by monthly, quarterly or yearly periods.

General System

  • Send and receive messages to and from your clients using internal messaging
  • Create email templates for routine communications with your clients (e.g. change of password, new invoice created, etc)
  • Configure access for your staff with individually allocated logins.
  • Send letters to your clients and suppliers
  • Full audit trail available through the event logger.
  • Automatic date tracking for limited companies.
  • Live charts for sales and purchases along with client and supplier level data.

So if you’re looking for a simple to use, free accounting software for small businesses, check out QuickFile and I’m pretty sure you will wonder why you ever tried to manage your accounts on spreadsheets. You may even save money in accountants fees or be able to cancel any paid accounts solutions you are using.

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