For small organizations that just began their business operations, it can be a challenge to invest in expensive proprietary financial software.
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 is 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 management software for your organization to try out and implement if it’s suitable:
Wave is easy, free accounting software for your small business. It allows you to track your income and expenses and get ready for tax time.
Mint.com is a simple personal finance program that is web-based. It is free to sign up, and it takes only a few seconds to add new accounts. Mint presents your financial information in a slick, easy-to-use web interface.
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 businesses.
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Soldo is a prepaid corporate card and expense management platform that helps businesses control spending and save time. With Soldo, businesses can create virtual and physical cards for employees, set budgets and limits, and track spending in real-time. Soldo also integrates with popular accounting software, making it easy to reconcile expenses.
Here are some of the key features of Soldo:
- Prepaid corporate cards with real-time visibility and control
- Expense management software with integrations for popular accounting software
- Virtual and physical cards for employees
- Budgeting and spending limits
- Real-time reporting and analytics
If you are looking for a way to control spending and save time, Soldo is a great option. With its flexible features and easy-to-use interface, Soldo can help businesses of all sizes get the most out of their corporate spending.
I hope the above software helps you select a suitable open-source personal finance manager. If you do stumble on any other related software, feel free to share it with us via the comment box below. Thanks.