At the same time, small business owners are aware of how important it is to keep financial figures of the business accurate and up to date.
While some may turn to spreadsheets to keep track of all business expenses and earnings, some are opting for open source personal finance manager software to help automate financial processes.
Organizations usually turn to financial software to help with the following areas of their business financial management:
- Invoice management
- Account management
- Budgeting management
- Transaction management
- Income and expenses tracking
- Financial report generation for better decision making
- and more…
Today there are many SaaS / web based financial software such as Mint available out there in the market.
For those who prefer to host their own financial software in house for better control and management over their financial data can choose to implement open source personal finance software.
The following are some free and open source personal finance manager software for your organization to try out and implement if it’s suitable:
PHPFin is a php based personal finance manager with key functionalities such as transaction management, transaction importing from QIF, OFX, CSV, multi currency support, report management and more. In order to get PHPFin to work, you’ll need to have PHP4 or PHP5, mySQL, PEAR, Flash for charts and CRON access for running automated tasks.
TurboCash Accounting – TurboCASH .7 is an open source accounting package that is free for everyone to download and distribute under the terms of the General Public Licence (GPL). It is one of the world’s first fully-featured open source accounts packages for small business.
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I hope the software listed above helps you select a suitable open source personal finance manager. If you do stumble on any other related software, feel free to share with us via the comment box below. Thanks.