Free financial tools

Jovana Đuričić
Jovana Đuričić
October 11, 2016

Modern business can’t be imagined without adequate financial planning since realization of any idea or project entails with it the expenditure of funds.

We have searched for  the simplest free software tools, that can be used for the purposes of financial management, and by author’s selection we’ve chosen five most interesting software:

1. Hard office

In the first place on our list is Hard office business system, since the interface is very simple. It is used by both small and medium-size businesses.

Hard office in its offer includes the following free tools, which depending on your needs, you can separately download and use:

  • Cashier – payment orders, billing, and log coffers
  • Hold payroll – as part of this tool, you can manage personal income, sick leave, wages, advance payments and etc. The calculation can be made on the basis of the net and gross wages
  • Fixed assets – depreciation calculation, annual and periodic accounts
  • Billing account – invoices, budgets, inventory tracking, customer cards, merchandise

The main characteristic of these tools is that they can be used both for one company and for work in agency mode (which involves working with several companies). The disadvantage of these tools is that they are not available on other platforms, except for computers.

Single license – With the payment of only 10 € per year, you can get a license for a company for one account, which also gives you the convenience of technical support by phone, that is not available in the free version.
Server License – With the payment of 20 € per year, you get one server for multiple users and multiple operating units in the network. In addition to telephone technical support, remote support is also included, where via remote access to your computer, more complex problems arising in the work can be solved.

2. Wave

Over two and a half million small businesses, that have up to 10 employees, use the benefits of this great online cloud software. For Wave, the complete basic package is offered for free.

The basic package includes:

  • Accounting reports
  • Creating and sending invoices
  • E-mail support

Judging by the critics and the number of users of this financial software, it was immediately clear that this software had to be on our list.

Our first step was, of course, the registration, which was surprisingly simple and fast. In addition to the standard registration via e-mail, registration is also available through your Google and Facebook accounts. Immediately after registration, you’re given access to input a name for your company, as well as to select the type of business, which is very important, because the Wave is personalizing dashboard in a way that best suits your requirements. In addition, it is possible to enter information such as phone number and address of the company, so that they can be automatically generated on your financial documents.
The software has built-in invoices templates, where you can choose from a couple of very interesting templates. Particularly nice touch is the ability to add your logo to the template itself, what will provide to your invoices additional seal of professionalism.
Another advantage is that this software will automatically backup your data so that you don’t have to worry about the possible loss of valuable information. This software is available on desktop and mobile platforms.

On-site at, Wave was rated with 4.5 * and on this link, you can read the recommendations and comments of users of this software.

3. Money Manager Ex

This program is used by entrepreneurs and small businesses, and it’s available on desktop and Android platform. You can observe this software as a portable app, which you can save on USB,  and use data from it, whenever you need them.

The main features of this program are:

  • Verification of credit cards, savings, investments
  • Budget and cash flow forecasts
  • Easy reporting with charts and diagrams (It is possible to import Excel files and create reports)
  • Support of international languages (it is available in 24 languages, including our language)

The application is available for Windows, MacOS, Linux, Android operating systems, and can be downloaded at this link. With the application, you get a mini-guide, which shows you everything you need to know, so you can use it adequately. At the website, this software was rated 4*, and at the link you can read the reviews and recommendations of users of this software.

4. NCH Express Invoice

One of the easiest programs to be found on the web, which helps you generate invoices and orders. Interface which adapts to the type of the business, depending on whether you are a company that deals with products, services or with the products and services. It has versions that are supported for Windows, Mac OS X, iPhone App, Android, and Kindle. Limiting the fact is that it is free only if the company has up to 5 employees. Otherwise,  you have to pay from 39.99 to 49.99 $. We’ve tested it, and we can say that for the creation of the invoices, you will not find easier software. This program can be downloaded at the following link.

Main features:

  • Easy creation  of the invoices
  • Adaption of the invoices, including logo, text, etc.
  • Saving and sending of invoices directly from the application in PDF format by e-mail or fax
  • Automatic sending of statements to customers in the case of outstanding liabilities

What we did not like about this software, is that the invoices look pretty simple (as opposed to those which are provided by Wave software), but the ability to create and print invoices offline, as well as the easiness of their creation, is what gives this program an advantage over the others.

5. Manager

Very simple, intuitive, totally free software that enables you the use of modules for invoicing, cashier register, receivables and other. The program is great for small companies and it can be installed in just a few minutes. It is available on desktop, cloud and server versions, but it should be noted that the program is free, only for the desktop version.

This program includes:

Main accounting book, cash management, expenses, receivables, invoices, purchase orders, statements and invoices, income statement, statement of changes in equity, tax, etc.

A great advantage of this software is that the application is an embedded guide with the help, from which you can learn everything that is necessary for use of this software. The application also has an online forum, where you can share all your suggestions and concerns, but it also has useful tips from existing users. You can choose from a large number of languages, and applications also support our language. On web site you can find comments and customer reviews, where software is evaluated with 4.5*.

Excel forms

There are some simpler options, that require a little more effort to keep track of your finances. Some basic patterns that can be found online and  used in Excel program are the following:

  • If you are planning the costs for the Start-up, detailed and simple form to calculate all your costs can be downloaded at the following link.
  • Different categories of templates can be found at Smartsheet, for the accounts, cash flow statements, the statement of expenditure and etc.
  • At the website Beginner-bookkeeping you can find almost all kinds of reports (also for each individual form you have steps and examples on how to organize certain reports, which will make them even easier to use).

Although all of the above mentioned financial tools do not offer the same features, they have become a necessity for every business, because they allow keeping track, monitor analyze all of your transactions and potential problems.

We hope that we’ve made the search for an ideal financial software easier for you and that you will not have to think about it for the time being, at least until your company’s success doesn’t outgrow it.

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