Read these 5 Pros and Cons of Free Accounting Software Tips tips to make your life smarter, better, faster and wiser. Each tip is approved by our Editors and created by expert writers so great we call them Gurus. LifeTips is the place to go when you need to know about Accounting Software tips and hundreds of other topics.
1. Make sure the freeware program will integrate with your existing systems.
2. Make sure the freeware is fast enough and well designed so that it adds value and saves time.
3. Make sure you have the most up to date versions at all times and that you have resources to ensure the freeware's continuing viability.
4. Make sure the freeware has adequate security, especially if it is handling any sensitive customer information.
There are a lot of freeware options available for personal finance that can help you keep track of any and all of the following:
* Stocks, bond and money market accounts
* Check book
* Monitor your spending habits
* Calculate and plan long term investments
* Analyze your overall financial situation and income
There are many pros and cons to freeware - one of the largest being that you may have many seperate modules rather than one comprehensive solution and that you have little or no customer support. Whichever freeware you choose to use, just ensure that is has security precautions to protect your private financial information.
Pros of Free Accounting Software
* Free or nominal fee for actual software
* You will often get access to the source code for potential customization
* Develop features and find additional developers in a shareware community
Cons of Free Accounting Software
* Limited features
* Simpler user interface
* No support (except user forums - but no formal customer service group)
* Increased internal development/production costs
In some cases, smaller companies simply don't have the budget to invest in a high end accounting software solution - even if it is in the company's best interest. If your company has access to inexpensive development resources, freeware or shareware may be the answer.
There are companies all over the web who make their code and basic software available to the masses. This is their way of marketing their tool and proving themselves in an ever more competitive software marketplace. In many cases, these software solutions may not be as feature rich, or as slick from a user interface perspective, but nevertheless they offer the core functionality you need with a basic platform that can be customized and grown.
Free accounting software is available on a trial basis from all of the major accounting software companies. When you are considering which accounting software to purchase, using trial versions is always a good idea to test usability, customization and system integration.
A good project manager, when assessing the right solution for their company, should trial all of the major solution contenders. By assessing the tools, they will be able to make a much better recommendation based on actual experience as opposed to anecdotal evidence.
|Jennifer Mathes, Ph.D.|