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Akaunting

Score5 out of 10

1 Reviews and Ratings

What is Akaunting?

Akaunting is an online accounting software designed to assist small businesses in managing their finances and maintaining control over their cash flow. According to the vendor, Akaunting simplifies invoicing, online payments, and expense tracking. This software is tailored to meet the needs of small businesses and is utilized by various professions and industries, including freelancers, small business owners, consultants, startups, and service-based businesses.

Key Features

Easy Accounting: According to the vendor, Akaunting is online accounting software designed specifically for small businesses. It aims to assist in managing finances and staying on top of cash flow by simplifying invoicing, online payments, and expense tracking.

Everything you need to manage your business: The vendor claims that Akaunting provides a comprehensive set of features to effectively manage businesses. Users can create unlimited bank and cash accounts to track opening and current balances, as well as manage finances for multiple companies from a single admin panel, assigning users to different companies as needed.

Powerful Reporting: Akaunting offers detailed financial reports, providing valuable insights into a company's financial health and performance, according to the vendor.

Client Portal: The vendor states that Akaunting allows users to share transactions and invoices with clients through a dedicated client portal. Additionally, users can accept bulk payments online, offering convenience for clients.

Recur Everything: Akaunting claims to automate the creation of invoices, revenues, bills, and payments for ongoing jobs, saving time and ensuring accurate and timely invoicing.

Customer Summary: According to the vendor, Akaunting provides a customer summary view that allows users to access customer profiles, addresses, transaction lists, and payment status, facilitating efficient tracking of interactions and transactions with each customer.

All-in-one platform: Akaunting serves as an all-in-one platform for accounting needs, allowing users to add non-billable expenses as payments to keep accounts up-to-date. Users can also set up different tax rates and link them to specific products or transactions. The vendor claims that users can send invoices and add expenses in any currency, with the system automatically converting them to the main currency.

Discount: The vendor states that Akaunting allows users to offer client loyalty discounts, fostering good relationships with clients and encouraging repeat business.

Unlimited Attachments: Akaunting enables users to attach business files and receipts to invoices, expenses, and payments, providing an organized and easily accessible system for relevant documents.

Transaction Categories: Akaunting allows users to create categories for incomes, expenses, and items, facilitating a quick overview and organization of business flow, according to the vendor.

Top Performing Features

  • Plug-ins

    A number of third-party plug-ins are available to expand the core functionality of the software.

    Category average: 7.9

  • Dashboards

    Users can create, customize and share dashboards, which provide an overview of the most important metrics.

    Category average: 8.1

  • Custom reports

    Users can create custom reports.

    Category average: 8

Areas for Improvement

  • Accounts receivable

    This includes the management and automation of invoices and collections, with features like statements, invoices, receipts, payment reminders, customer records, auto billing, and refund checks.

    Category average: 8.7

  • Self-service portal

    The software provides online portals for certain stakeholders to find information relevant to them, such as employees, vendors and customers.

    Category average: 8

  • Accounts payable

    This includes the automation and tracking of payment to vendors and suppliers, with features such as payment scheduling, check printing, open purchase order alerts, document management, direct ACH bill payment, and vendor records.

    Category average: 8.7

Best free accounting software for beginners

Use Cases and Deployment Scope

I am using Akaunting to keep the accounting record of my websites. I'm using it to keep a record of my sales as well as purchases from my vendors. The software is super easy to use and can be installed into my own hosting as well which is cool and is also open source.

Pros

  • Easy to use.
  • Can be installed into own hosting.
  • Have lots of features.

Cons

  • They should make their add ons more cheaper.
  • And they should make few add ons free which are essential.

Return on Investment

  • Akaunting has helped me a lot since I started using it.

Alternatives Considered

Zoho Bookings, QuickBooks Online, Xero and FreshBooks

Other Software Used

FreshBooks, Axero, QuickBooks Online

Usability