100% Free Accounting Software for SMEs in Kenya
These 100% free accounting software for SMEs in Kenya offer a cost-effective way of keeping track of finances. Accounting software help streamline the complex and time-consuming process of managing financial tasks.
- 05/08/2024
- 2:25 pm
Accounting software takes care of accounting tasks from invoicing and expense tracking to payroll and tax preparation. As such, accounting software handles various aspects of financial management, which allows business owners to focus on growth and productivity. While free accounting software for small business may lack the bells and whistles of paid versions, they offer valuable tools for managing your finances. To help you find the best, I have compiled a list of top picks based on features, support and reputation among others.
Photo by Tima Miroshnichenko
Best Free Accounting Software for Small Business
In business management and accounting, various software solutions cater to different needs, providing features that streamline processes, enhance productivity, and ensure accuracy. Here is the best free accounting software that benefit small businesses and organizations.
1. Dolibarr: Best all-in-one free ERP and CRM solution for small to medium-sized businesses
Dolibarr is an open-source ERP and CRM software for small and medium-sized businesses. It combines business management and accounting functionalities in a single platform.
Key Features
- Invoicing and Billing: Create and manage invoices efficiently.
- Expense Tracking: Monitor expenses and categorize them appropriately.
- Inventory Management: Manage stock levels, supplier information, and product details.
- Customer Relationship Management (CRM): Track customer interactions and sales opportunities.
- Project Management: Plan, execute, and monitor projects with ease.
2. Vtiger: Best for small businesses that need a robust accounting software
Vtiger is a comprehensive CRM software that integrates with various business processes, including sales, marketing, and support.
Key Features
- Sales Automation: Manage leads, deals, and sales pipelines effectively.
- Customer Support: Provide customer support through ticketing systems and help desks.
- Marketing Automation: Automate marketing campaigns and track their performance.
- Project Management: Collaborate on projects and monitor progress.
- Inventory Management: Keep track of stock levels and manage supplier relationships.
3. Akaunting: Perfect for a small business seeking easy-to-use accounting software
Akaunting is a free, open-source accounting software designed for small businesses. It offers a user-friendly interface and essential financial management tools.
Key Features
- Invoicing: Generate and send professional invoices to clients.
- Expense Tracking: Record and categorize business expenses.
- Financial Reports: Generate profit and loss statements, balance sheets, and other financial reports.
- Multi-Currency: Handle transactions in multiple currencies.
- Client and Vendor Management: Manage customer and vendor information.
4. YetiForce: Ideal for small businesses requiring a highly customizable CRM solution
YetiForce is an open-source CRM that offers extensive customization and a wide range of features for managing customer relationships and business processes.
Key Features
- Sales Management: Track leads, opportunities, and sales pipelines.
- Customer Support: Manage support tickets and customer interactions.
- Project Management: Plan and execute projects with detailed task management.
- Inventory Management: Monitor stock levels and manage product information.
- Customizable Dashboard: Tailor the dashboard to display relevant metrics and reports.
5. SugarCRM: Best for businesses that need a comprehensive CRM platform
Beware: SugarCRM is no longer open source. So, it doesn’t issue new bug fixes, security updates and patches for the Community Edition.
SugarCRM is a powerful customer relationship management software that provides tools for sales automation, marketing, and customer support.
Key Features
- Sales Automation: Automate sales processes and manage customer relationships.
- Marketing Campaigns: Create and track marketing campaigns and their effectiveness.
- Customer Support: Provide support through a robust ticketing system.
- Reporting and Analytics: Generate detailed reports and analytics to monitor performance.
- Customization: Customize modules and workflows to fit business needs.
6. SuiteCRM: Suitable for businesses looking for a free and open-source alternative to SugarCRM
SuiteCRM is an open-source CRM solution derived from SugarCRM, offering similar functionalities with additional enhancements and no licensing fees.
Key Features
- Sales Management: Track sales opportunities and customer interactions.
- Marketing Automation: Create and manage marketing campaigns.
- Customer Support: Provide customer support through ticket management.
- Custom Modules: Develop custom modules to extend functionality.
- Reporting and Dashboards: Create custom reports and dashboards to monitor key metrics.
7. FrontAccounting: Ideal for small businesses that need a comprehensive accounting software
FrontAccounting is an open-source accounting software designed for small and medium-sized businesses. It covers various accounting and business management needs.
Key Features
- General Ledger: Manage the general ledger and chart of accounts.
- Invoicing and Billing: Create and send invoices to customers.
- Expense Management: Record and track business expenses.
- Inventory Management: Monitor inventory levels and manage stock.
- Financial Reporting: Generate financial statements and reports.
8. EPESI: Best for businesses looking for an integrated CRM and ERP solution
EPESI is an open-source CRM and ERP solution designed to streamline business operations and customer relationship management.
Key Features
- Customer Management: Track customer interactions and manage relationships.
- Sales Management: Handle sales processes and track opportunities.
- Inventory Control: Manage inventory levels and supplier information.
- Project Management: Plan and execute projects with detailed task management.
- Custom Modules: Extend functionality with custom modules and plugins.
9. OrangeHRM: Suitable for small businesses that need a robust HR system
OrangeHRM is an open-source human resource management software that offers a comprehensive suite of HR tools.
Key Features
- Employee Management: Manage employee records and personal information.
- Leave Management: Track and approve employee leave requests.
- Recruitment: Handle recruitment processes from job postings to candidate selection.
- Performance Management: Monitor and evaluate employee performance.
- Time and Attendance: Track employee attendance and work hours.
10. EspoCRM: Ideal free accounting software for small business seeking a customizable CRM solution
EspoCRM is an open-source CRM that provides a flexible and customizable platform for managing customer relationships.
Key Features
- Sales Management: Track leads, opportunities, and sales pipelines.
- Customer Support: Manage customer support tickets and interactions.
- Custom Fields: Add custom fields to tailor the CRM to specific business needs.
- Reporting and Analytics: Generate reports and analyze customer data.
- Integration: Integrate with other tools and platforms to extend functionality.
11. EGroupware: Best free accounting software for small businesses looking CRM platform
EGroupware is an open-source collaboration software that includes CRM, project management, and groupware functionalities.
Key Features
- Project Management: Plan and manage projects with detailed task management.
- Customer Relationship Management: Track customer interactions and sales opportunities.
- Calendar and Scheduling: Manage team schedules and appointments.
- Document Management: Store and share documents securely.
- Email Integration: Integrate with email systems for seamless communication.
12. X2CRM: Best free accounting software for small business that needs a versatile CRM solution
X2CRM is an open-source CRM platform that offers tools for sales, marketing, and customer service.
Key Features
- Sales Automation: Manage sales processes and track opportunities.
- Marketing Campaigns: Create and monitor marketing campaigns.
- Customer Support: Provide customer support through ticketing and case management.
- Workflow Automation: Automate workflows to improve efficiency.
- Custom Fields: Customize fields and modules to fit business needs.
13. Group Office: Best free accounting software for small business looking for a comprehensive ERP solution
Group Office is an open-source groupware and CRM solution designed for businesses and organizations.
Key Features
- Project Management: Manage projects and tasks with ease.
- Customer Relationship Management: Track customer interactions and sales opportunities.
- Email Integration: Integrate with email systems for seamless communication.
- Document Management: Store and share documents securely.
- Calendar and Scheduling: Manage team schedules and appointments.
14. Zurmo: Best free accounting software for small business looking to increase CRM adoption
Zurmo is an open-source CRM that focuses on gamification to enhance user engagement and adoption.
Key Features
- Sales Automation: Track leads, opportunities, and sales pipelines.
- Gamification: Incorporate gamification elements to motivate users.
- Customer Support: Manage support tickets and customer interactions.
- Custom Modules: Extend functionality with custom modules and plugins.
- Reporting: Generate detailed reports and analytics.
15. webERP: Best free accounting software for small to medium-sized businesses seeking an ERP software
webERP is an open-source ERP software designed for small and medium-sized businesses. It provides comprehensive business management tools.
Key Features
- Accounting: Manage general ledger, accounts payable, and accounts receivable.
- Invoicing and Billing: Create and send invoices to customers.
- Inventory Management: Monitor stock levels and manage inventory.
- Sales Order Management: Handle sales orders and customer relationships.
- Reporting: Generate financial statements and business reports.
16. ChurchCRM: Perfect free accounting software for churches and religious organizations
ChurchCRM is an open-source CRM tailored for churches and religious organizations. It helps manage congregational relationships and administrative tasks.
Key Features
- Member Management: Track member information and interactions.
- Donation Tracking: Manage donations and contributions from members.
- Event Management: Plan and organize church events and activities.
- Volunteer Management: Track and coordinate volunteer activities.
- Reporting: Generate reports on membership, donations, and events.
17. Tine 2.0: Best free accounting software for small business that needs a CRM solution
Tine 2.0 is an open-source groupware and CRM solution designed to improve business collaboration and customer relationship management.
Key Features
- Project Management: Manage projects and tasks efficiently.
- Customer Relationship Management: Track customer interactions and sales opportunities.
- Email Integration: Integrate with email systems for seamless communication.
- Calendar and Scheduling: Manage team schedules and appointments.
- Document Management: Store and share documents securely.
18. Sentrifugo: Ideal free accounting software for small business in need of HRM system
Sentrifugo is an open-source HR management software that provides a wide range of HR functionalities for small to medium-sized businesses.
Key Features
- Employee Management: Manage employee records and personal information.
- Leave Management: Track and approve employee leave requests.
- Performance Appraisal: Evaluate employee performance through appraisals.
- Recruitment: Handle recruitment processes from job postings to candidate selection.
- Asset Management: Track company assets assigned to employees.
19. Zenbership: Perfect free accounting software for membership-based organizations
Zenbership is an open-source membership management software that provides tools for managing memberships, subscriptions, and events.
Key Features
- Member Management: Track member information and interactions.
- Subscription Management: Manage memberships and recurring subscriptions.
- Event Management: Plan and organize events and activities.
- Automated Notifications: Send automated reminders and notifications to members.
- Reporting: Generate reports on membership, subscriptions, and events.
20. IceHrm: Best free accounting software for small to medium-sized businesses in need of HRM system
IceHrm is an open-source HR management software that covers various HR processes, including employee management and leave tracking.
Key Features
- Employee Management: Manage employee records and personal information.
- Leave Management: Track and approve employee leave requests.
- Time Tracking: Monitor employee attendance and work hours.
- Recruitment: Handle recruitment processes from job postings to candidate selection.
- Performance Management: Evaluate employee performance through appraisals.
21. Jorani: Best free accounting software for small business seeking a simple leave management software
Jorani is an open-source leave and overtime management software designed to simplify HR processes related to leave requests and overtime tracking.
Key Features
- Leave Management: Track and approve employee leave requests.
- Overtime Tracking: Monitor and manage employee overtime hours.
- Employee Directory: Maintain an up-to-date employee directory.
- Reporting: Generate reports on leave and overtime.
- Email Notifications: Send automated notifications for leave approvals and reminders.
What is Accounting Software?
Accounting software is a type of computer software that assists bookkeepers and accountants in recording and reporting a firm’s financial transactions. The functionality of accounting software differs from product to product. Larger firms may choose to implement a customized solution that integrates a vast amount of data from multiple departments. Smaller businesses, however, often choose a ready-made product.
Key Features of Free Accounting Software for Small Business
1. Invoicing and Billing
- Automated Invoicing: Generate invoices automatically based on predefined templates.
- Recurring Billing: Set up recurring invoices for regular customers.
- Payment Reminders: Send automatic reminders to clients for overdue payments.
2. Expense Tracking
- Receipt Management: Upload and store receipts for easy access and tracking.
- Expense Categorization: Automatically categorize expenses to simplify bookkeeping.
- Mobile Access: Record expenses on the go using a mobile app.
3. Financial Reporting
- Profit and Loss Statements: Generate P&L statements to understand the business’s financial health.
- Balance Sheets: Create balance sheets to provide a snapshot of the company’s assets, liabilities, and equity.
- Custom Reports: Customize reports to meet specific business needs and compliance requirements.
4. Bank Reconciliation
- Bank Integration: Connect directly with bank accounts for seamless transaction imports.
- Reconciliation Tools: Match bank transactions with recorded entries to ensure accuracy.
- Automatic Updates: Sync transactions in real-time to maintain up-to-date records.
5. Payroll Management
- Employee Payments: Calculate and process employee salaries, wages, and bonuses.
- Tax Calculations: Automatically calculate payroll taxes and deductions.
- Compliance: Ensure compliance with local, state, and federal payroll regulations.
6. Tax Preparation
- Tax Filing: Prepare and file taxes directly through the software.
- Deductions and Credits: Identify eligible deductions and credits to maximize tax savings.
- Audit Trail: Maintain detailed records and logs for auditing purposes.
7. Inventory Management
- Stock Tracking: Monitor inventory levels in real-time.
- Order Management: Manage purchase orders and sales orders efficiently.
- Supplier Management: Keep track of supplier details and order histories.
8. Multi-User Access
- Role-Based Permissions: Assign different access levels to team members based on their roles.
- Collaboration Tools: Facilitate collaboration among employees and accountants.
- Audit Logs: Track changes and activities within the system for accountability.
Benefits of Using Accounting Software for Small Business
- Saves time by automating routine tasks such as invoicing, payroll, and reporting.
- Accurate since it automates calculations and data entry.
- Provides real-time financial insights to make informed business decisions.
- Scalable: It is easy to scale the software as the business grows without significant changes or disruptions.
- Compliance: Stay compliant with tax laws and financial regulations through automated updates and accurate record-keeping.
- Protects sensitive financial data with robust security measures, including encryption and access controls.
- Cost-Effective since it reduces the need for extensive manual accounting work, thereby lowering overall operational costs.
What to Consider When Choosing Free Accounting Software
- Type of business and size: Consider the size and nature of your business to ensure the software meets your specific needs.
- Budget: For a free accounting software, you need to evaluate its cost in terms of the time it takes of set up and use it.
- Features and functionality: Ensure the software offers the necessary features to manage your business’s finances effectively.
- Ease of use: Look for a user-friendly interface that simplifies accounting tasks for non-experts.
- Customer support: Check the availability and quality of customer support to assist with any issues or questions.
- Integration: Ensure the software can integrate with other tools and systems you use, such as CRM, e-commerce platforms, and banking apps.
- Scalability: Choose software that can grow with your business, offering advanced features and capabilities as needed.
Summary of Free Accounting Software for Small Business
Free accounting software for small business offer numerous features that help streamline operations and financial management. Each software offers unique features that ensure accuracy in financial and administrative tasks for different business needs. Thus, when selecting a free accounting software, it’s essential to consider your business’ specific needs and future growth plans to ensure you choose the right solution.
Editor: Mutinda Mutua
Passionate full-time freelancer with over 10 years of experience researching, writing and editing articles, blogs and news releases.
