Free Accounting Software for Small Business

When you run your own small business, the importance of using accounting software designed with a small business in mind cannot be overstated enough. You need to take complete control over your finances to get any real sense of how your business is doing. You need to be able to accurately and adequately track incoming and outgoing funds to make sure that all transactions have been accounted for.

Couple enjoying their free accounting software for their small business

Accounting software is a lot more than just compiling a list of transactions that represent the various business banking accounts that you have. In addition, they are important avenues to use to accurately do your taxes, keep track of invoices that you’ve sent out but haven’t received a response on from clients, keep track of accounts receivable and more. Free accounting software for small business usage that you can use for all of these methods and more include Cheqbook, among others.

If you’re planning on using Cheqbook as your accounting software for small business purposes, the version you’ll want to try is called Cheqbook Proprietor. It is important to note that while the software is initially free, it is only so in what is referred to as a “trial” capacity. As the prospective customer, you are given full access to the Cheqbook service for a period of 30 days to try completely free of charge. There are no limitations during this trial period and you will get to use every feature that would be available to you if you paid for the service when the trial period expired. There is also no “catch” – by signing up for the free trial, you aren’t agreeing to hidden fees or surcharges once the free period is over. The trial is specifically designed to allow you to find out for yourself through first hand experience if the service is right for you. If it is, you can easily continue to use it by paying the monthly fee.

Cheqbook Proprietor is specifically designed for small business owners and freelance workers. You are allowed to set up an account that represents either one small business or one freelance employee, depending on your preferences. One main account should be more than enough for most small business owners. A freelance employee is someone who works with a particular client but does not receive a W2 and does not have taxes taken out of their paychecks. Taxes are the sole responsibility of the freelance employee and they usually receive an IRS form 1099 at the end of each calendar year. Depending on the type of business you run, it is entirely possible to be a small business owner and a freelancer at the same time. If you offer your construction services to a variety of different businesses or private clients in your area, for example, you would be both a small business owner and a freelance employee.

Cheqbook Proprietor comes with a wide variety of different features that make it an ideal accounting solution for people in your situation. It gives you the ability to create unlimited simultaneous users and to automatically download transactions from various business banking accounts that you may have. It also allows you to both send invoices and accept payments online through debit or credit cards. It also allows you to save time with the intuitive AccuScore Smart Categorization feature, which interprets categories for certain types of transactions based on your usage history. Additional features include the ability to manage bills, the ability to print checks, the ability to view all financial information for your business from a device like an iPad or Android tablet and more. Additionally, you can also automatically generate up to fifteen different types of reports using your account at any time. Examples of reports that you can print out include profit and loss statements, account balance sheets and more.

At the end of the Cheqbook Proprietor trial period, should you decide that you want to continue using the software you will need to pay $19.75 per month in order to do so. It is important to note that no credit card is required at the beginning of the trial period, so at the end of the period the service will automatically stop connecting to your financial institution. All of the information that you have previously entered will be saved in the event that you want to continue to use Cheqbook. In the event that you do, all you have to do is enter your credit card and agree to the terms of use of the service. You will then be able to pick right back up where you left off and take complete control over the finances of your business once and for all.

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