Let’s face it, when you have clients jumping up and down, you want to spend the maximum amount of time getting jobs finished and paid for, and the minimum time sitting in front of a computer trying to sort out the accounts.
A lot of the paid-for accounts packages are perhaps a little too complex for sole traders - they take ages to install and set up, and have so many bells and whistles that they are difficult to get to grips with. Most small businesses like to keep things simple and go out of their way to avoid unnecessary complexity.
Luckily, there are some great free accounting tools out there that will allow you to keep on top of bills, payments, tax and VAT in the shortest time possible.
NCH Express Invoice
This software lets you set up professional looking invoices, orders and quotes. You can add customers and attach recurring invoices to their accounts. The package is free to businesses with fewer than five staff - just confirm that when you log in. It can also handle VAT and taxes.
Quickfile
Quickfile boasts that it’s been designed for non-accountants. The package makes it easy to categorise different incomings and outgoings. Paypal, STRIPE and other online payment systems are supported - even Bitcoin.
TurboCASH
This is a little more sophisticated, in that you can track debtors and creditors and manage stock. VAT calculations, balance sheet reports and lots of different financial analyses are available. It takes a little longer to learn than the simpler packages, but there are books available to help you get on top of it.
GnuCash
This package scores lots of points for user-friendliness. It has dozens of different financial reports, varying in complexity from a simple profit and loss, to complex financial statements - if you need them. One of its great advantages is its Android app, which means that you can use it on your mobile when you’re out and about.
Wave
One of the best known of the free accounts packages, Wave is cloud-based. If that doesn’t mean much, what happens is that you don’t download the software onto your PC - you log on and all of your files and data are held by Wave on their servers.
This package operates on what’s called the “Freemium” model. Basic services are free, although you may see some ads, or receive some marketing emails. If you want more features, you can pay for extra functions.
The good thing about Wave is that you can integrate it with PayPal, your online bank account and even some card processing functionality, so you can cut down on manual input and let Wave pick up the entries for you. It also offers payroll, so if you employ staff, it’s definitely a good pick.
If you like the look of one of these, you can just have a go with it - since you’re not paying, you have nothing to lose. However, if you’re the cautious type, have a look around the internet to find plenty of reviews from users, so you can see what others think before you decide on a package.