Last updated: March 14th, 2020 3:03 PM

Review of Free Accounting Softwares in India

Maintaining books of accounts and a strong accounting system is vital for any business as it provides feedback to the Management about the business performance and is a statutory requirement for Companies and LLPs. There are a number of paid accounting softwares like Tally, QuickBooks, Wings and Zoho available in India. There is also an in-depth comparison of two popular accounting softwares, Tally vs QuickBook in India. In this article, we mainly focus on free accounting softwares suitable for businesses in India.

Wave - Free Accounting Software

Wave Accounting Software

Wave is a cloud-based, integrated accounting software suitable for small businesses. The Wave Accounting Software includes features like invoicing, accounting, payroll, payments, personal finance and more. Wave accounting software is mostly suitable for small businesses that employ 9 people are less.

Wave accounting is suitable for businesses in India. It supports Indian Rupees and connects with Indian Banks to download bank transaction details.

Wave Top Features: The following are some of the top features of Wave:

• Supports indian rupees
• Easy and intuitive to use
• No accounting knowledge or experience is required
• Access through mobile app
• Quickly send invoices

Background: Wave Accounting Software is from Wave Accounting, Inc. a Canadian Company. Wave has currently has nearly 2.5 million users in 200+ countries and has secured nearly $20 million from private equity investors.

How Free?: Wave’s core tools, including accounting and invoicing applications, are free. Waves credit card payment processing, payroll, and premium accounting and bookkeeping services are charged extra at competitive prices. Wave's main revenue is from advertising. By showing ads to Wave users, Wave monetizes the user base to reduce cost and add value for small business owners.

Support: Wave has very good documentation online on how to use the accounting software. Wave also has an extensive online community and responds to email support requests. Wave provides premium support over live chat or phone for premium users at an additional cost.

Verdict: Wave is a good option for small businesses that are looking to manage their accounting information by themselves, easily at little or no cost.

To Signup: Visit Wave Accounting Apps

Manager - Free Accounting Software

Manager Accounting Software

Manager Accounting Software is a desktop based, accounting software suitable. Manager.io offers many of the features available in most accounting softwares. Manager.io is suitable only for businesses that employ accountants, as the accounting software is not very easy to use or intuitive.

Manager has been designed to adapt to any country. The software also supports local tax codes, local date formats, local currency formats, country-specific tax reports and more. However, knowledge about accounting principles and experience using the Manager Accounting Software is key to configuring the accounting software.

Manager Accounting Software Top Features: The following are some of the top features of Manager:

• Supports all currencies
• Desktop based
• No internet connection is necessary

Background: Manager Accounting Software is from NGSoftware Pty Ltd, a company registered in Australia.

How Free?: The desktop version of Manager accounting software is free. The cloud-based accounting software and server based accounting software from Manager are chargeable.

Support: Manager accounting software has guides and a forum for providing support. There are no options to get support over phone or email.

Verdict: Manager Accounting Software maybe a good option only for those with extensive accounting experience knowledge and experience who want a highly customizable accounting software for free. Also, Manager Accounting Software does not specifically support rupees. So no currency symbol will be displayed next to the values.

To Download: Visit Manager.io

GnuCash - Free Accounting Software

GnuCash Screenshot GnuCash is personal and small-business financial-accounting software, freely licensed under the GNU GPL. GNU is an operating system that is free software. The free software movement campaigns to win for the users of computing the freedom that comes from free software. Free software puts its users in control of their own computing. Therefore, free software means the users have the freedom to run, copy, distribute, study, change and improve the software.  

GnuCash is available for Linux, BSD, Solaris, Mac OS X and Microsoft Windows. GnuCash also has an Android App.

GnuCash has been designed to adapt to any country and any user. However, knowledge about accounting principles and software development experience is key to configuring this accounting software. GnuCash is recommended only for users having good accounting and software development background.

GnuCash Accounting Software Top Features: The following are some of the top features of GnuCash:

• Double-entry accounting
• No internet connection is necessary

Background: GnuCash is a free software developed by the GnuCash Project.

How Free?: GnuCash is completely free. The users has complete freedom to run, copy, distribute, study, change and improve the software.

Support: GnuCash accounting software has guides online for using and modifying the software.

Verdict: GnuCash is a good option only for developers looking to create an highly customized accounting software from an open source framework.

To Download: Visit GnuCash.org

For more information about accounting software in India, visit IndiaFilings.com