A lot goes into setting up a new business, and this can be pretty overwhelming, especially for someone who is going into this for the first time.
Where to start? How to begin? Among the many things that need to be carefully planned is how to effectively utilize the startup money.
There is certainly no room for error in this area, and it is important to stretch the budget as much as one can. So it is crucial to know which ones you need to spend on and which ones you can afford to scrimp on without compromising the quality.
If there are things you can get for free, take it. These days there are many available resources that you can get at no cost at all, a free accounting software is one of them.
Luckily, there are a handful available out there.
How do I choose the right free accounting software?
This should be top of mind as you will use it every day beginning day one to stay on top of things. It will be one of your most used software. That is why it is important to select the best among all the available free accounting software there is.
However, how do you know which is the right one for you? Are there red flags to look out for? What criteria should you use? What exactly do you need it to do for you?
To start with, it has to be available to use across various platforms and different devices, this is important for those who are always mobile and yet need access to their finances at all times.
Ease of use
It has to be cloud based so that you can work with your team in sync and backup is hassle free. If you’re the only one using it, however, the desktop version will do. But you have to ask: Is it easy to set up? Is it simple to use?
Can it track all the reports you need, like sales and expenses? Can it also help with our taxes? How many users can access it at a time? Can I get the proper customer service support round the clock? Is it secure? What makes it different compared to the other accounting software? There are really a lot more to consider, but these are the basics factors. Deciding on the best free accounting software for your business
One highly notable software to try is Oojeema. It is a free online accounting system that was created to give you more than you think you need.
It was meticulously developed in collaboration with professional Filipino accountants specifically to help small business owners improve their business performance; they are one step ahead of you.
So what exactly can it do?
It can reconcile your account balances when you upload your electronic bank statements. It can track your inventory efficiently and it can also keep track of invoices that are due for payment and remind you of those that need to be collected.
It can also generate and prepare the many various BIR forms your business needs. Oojeema can do all those in real time, and you can get a quick overview of your financial trends at just a glance when you look at the efficiently designed dashboard.
Undoubtedly, you will come across at least a dozen other free accounting software in the market, and you will probably end up road testing 2 or 3 before you decide which one works best for you.
Oojeema is Philippines’ FIRST online accounting software designed to simplify your accounting processes.