5 Best Open-Source QuickBooks Alternatives
There are several open-source QuickBooks alternatives that are available in the market, but before we look at these alternatives it is important to understand what actually an open-source is, it refers to a software that is free of charge and free to use and can be easy tailored according to your usage. This list gives you a snick peek into the best six Open-Source QuickBooks Alternatives with its various accounting benefits, features, and few unique strengths.
Odoo Accounting
Odoo accounting is the module that comes under the Odoo suite. It is an open-source accounting software that manages various business aspects. The Odoo accounting software offers integrated warehouse management that helps the user to connect various companies, platforms and functions.
Platforms Availability
Odoo, being an open-source accounting software, is available on various platforms like mac, window, Android, it makes it suitable for a lager number of customers.x
Key Features
Automated invoicing payment tools that help the user to follow-ups and easily manage the function.
Odoo helps the user with financial tracking that allows the employee in expenses and reimbursements functions.
In-detailed financial reports are generated with data-driven insights for your business’s performance regulation.
QuickBooks Mac Plus provides Mobile application
Easy Bank Synchronization is another feature provided by Odoo accounting to track transactions and reconcile accounts.
Odoo accounting provides multi-Currency support, that is ideal for international businesses owners.
Odoo customized modules
Benefits
Odoo Customization
Integration
CRM module
Real-time business process
Akaunting
Akaunting is another Open-Source QuickBooks Alternative software that, it a free of cost, with various features to tackle the financial aspect of your business venture. The software helps the user to create real-time invoices and track the expenses just in a few clicks through its automation property.
Platforms Availability
Akaunting, is available on Mac, windows, Linux, Online and can be also accessed through Self-Hosting.
Key Features
Akaunting offers a User-Friendly Interfacethat makes it easy for the small business owners to access it without any prior accounting knowledge.
The software offers quick Invoicing and Expense Tracking to create seamless workflow.
Provides Multi-Currency Support that helps the business to work with international clients.
Akaunting Offers detailed financial reports to help users make informed decisions according to their current processing.
Akaunting being a Cloud-Based software allows the Users to access their accounts from anywhere with an internet connection.
Benefits
Flexible to work with
Huge community support
Affordable
Wide range of financial management tools
GnuCash
GnuCash is a cloud-based software that provides a double-entry accounting feature, that helps in enhancing the workflow and through its easy navigation, it is an apt software for the small-scale business venture who have just started with automating their financial process.
Platforms Availability
GnuCash, is available on Mac, Windows Linux and PortableApps.com
Key Features
he software comes up with Double-Entry Accounting Support that gives an accurate financial tracking.
Provides Budgeting Tools that create budgets and monitor the progress.
GnuCash works on Investment Tracking alongside regular finances of the firm.
Multi-Currency Transactions for various international business operations.
Helpful in multiple organized structure keeping
The software comes with extensive features like Pie charts, bar charts, scatter plots, etc.
Benefits
Free accounting solutions
Extensive customization
Easy learning curve
Robust functionality
Detailed tracking and invoice
Invoice Ninja
Invoice Ninja is an invoicing and payment processing cloud-based software that can also be accessed through self-hosting. The software is versatile hence it gives liberty to choose the method of operation. This software is especially designed for freelancers and small business firm owners due to its cost-effective nature and efficient invoicing solutions.
Platforms Availability
Invoice Ninja offers both cloud-based solutions and self-hosting capabilities to provide multiple options to its users.
Key Features
Invoicing and Payments for a quick online payments that support various platforms.
Easily Expense Tracking with defined category for better financial management.
Project Management Tools with tasks management and time tracking.
Interactive Client Portal to view invoices and make payments directly through a dedicated portal.
Customized invoice to match their branding.
Benefits
user-friendly interface
maintain data segregation
advanced invoicing processes
cost effective
ERPNext
ERPNext is an integrated ERP solution that follows an ideal planning process with inventory management and customer relationship management, this software works as a long-term solution especially for the business t6hat is searching for an all-in-one solution that works on specific business processes.
Platforms Availability
ERPNext is primarily an online platform that can be installed on Linux servers.
Key Features
Gives an Integrated ERP System that provides functions like inventory management, CRM, and project management.
Support multi-Currency function, suitable for global operations.
The software provides liberty to customize dashboards according to their specific business needs.
Offers reports across different business functions for better decision-making.
User Roles and Permissions tools that allow the businesses to set different access levels for users based on roles.
Benefits
Works on modern technologies
Integration with various business functions
Advanced accounting tools.
Significant customization
Scalability
This list provides an insights into the best Open-Source QuickBooks Alternatives that are available in the market, the list also gives all the necessary details about the ERP software’s can how they can benefit your firm in various possible ways.
FAQs
What is an open-source software?
An open-source software refers to a software that is free of charge and free to use and can be easily tailored according to your usage.
What is the free equivalent to QuickBooks?
Odoo accounting is the module that comes under the Odoo suite. It is an open-source accounting software that manages various business aspects. The Odoo accounting software offers integrated warehouse management that helps the user to connect various companies, platforms and functions.
What is the best alternative to QuickBooks in the UK?
The best alternative to QuickBooks in the UK are: Odoo accounting, ERP Next, Invoice Ninja, Akaunting
Can I do bookkeep without QuickBooks?
Odoo accounting is the module that comes under the Odoo suite. It is an open-source accounting software that manages various business aspects. The Odoo accounting software offers integrated warehouse management that helps the user to connect various companies, platforms and functions.
What is the price structure of the popular ERP system?
The popular ERP systems can be accessed for $15K - $500K, whereas the advanced ERP system with wide range of feature can be from a price range of $10K - $100K and is equal to $125/ per month.
