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5 Best Personal Accounting Software

by Scott Max
I'll offer two ways to find the tool, software or service you need, keep reading our breakdown and recommendations, or tell us about your business and the problem you are trying to solve and we will advise you for free!

So, you are in the market for a Personal accounting software.

Ideal, because in this article we have our compilation list for our top picks, and we compare the features and pricing for you. 

If you just want the best choice, we’ve added that right at the top of the article as this was what is most requested by our customers. So, that’ll be the “can’t go wrong” option. 

Otherwise, feel free to explore all the options we’ve reviewed on the market to find something that might fit you a little better.

Enjoy the list!

The Best Personal Accounting Software Specifically

Accounting and Financing are not only crucial for business but also for personal life. You daily perform several transactions, manage budgets and deal with vendors or clients. Accounting software that offers a minimalistic platform with core functionalities to organize personal finances will be the perfect fit for this category. Have a look at the products below to choose the best personal accounting software:

1. Kashoo

Kashoo is the world's most straightforward accounting software that offers integrated technologies, simplifying bookkeeping and financial management. Kashoo offers business and solution-specific tools to help freelancers and companies automate their accounting tasks. It is the ideal solution for first-timers looking for an easy-to-use accounting platform.

Kashoo Features

Here are some exclusive features of Kashoo:

Advanced Accounting: Kashoo offers an automatic bank feed tool that sorts transactions plus maximizes deductions. It ensures you can quickly enter recurring expenses, reconcile faster, upload receipts or attachments and check status. Additionally, Kashoo connects with multiple accounts and auto imports bank transactions.

KashooPay: With Kashoo, you don't have to leave your accounting software to create or send invoices. Kashoo offers KashooPay, which lets you accept online payments from clients. Alternatively, you can integrate your Stripe account and use it with Kashoo invoices. You can connect with over 5000 banks and credit unions and seamlessly run your business with full encryption.

Critical Reporting: Kashoo offers crítical statistics and reporting tools to help you analyze the cash flow, income statement, balance sheet, accounts receivable and payable, trial balance and bank reconciliation. With Kashoo, you can accurately plan your project budgets and ensure you don't overcommit your finances.

Automated Accounting: Kashoo maximizes your tax deductions with computerized data entry, machine learning-powered auto-categorization and alignment with IRS & CRA. It automates contact creation and reconciliation plus offers a point & click receipt capture. Additionally, you can create contacts directly from your transactions. It ensures you don't mix up or lose new vendor contacts.

Simplified Invoicing: Kashoo lets you invoice your clients, get paid digitally and track your payments. Moreover, the learning curve is minimal due to the simplistic interface of Kashoo. Once you send invoices with Kashoo, it stores the record, so you never have to input the details again manually.

Kashoo Pricing

Kashoo offers 3 Pricing options for its invoicing and accounting tools.

The "Trulysmall Invoices" plan is priced at $0/month and allows you to send invoices. Additionally, you can accept payments, send estimates and track income or clients.

The "Trulysmall Accounting" plan is priced at $20/month and offers a complete accounting solution. Additionally, you can track sales tax, do essential reporting and comply with IRS/CRA standards.

The "Kashoo" plan is priced at $30/month and offers advanced accounting for larger firms. Additionally, you can do advance reporting, customize CoA and check printing.

2. ZipBooks

ZipBooks is a simple, powerful and intuitive accounting platform that gives you the tools and intelligence to upgrade your business. It saves your time from doing mundane Bookkeeping tasks by offering automation and intelligent insights. ZipBooks is an ideal entry-level solution for freelancers or firms looking for accounting software.

ZipBooks Features

Here are some exclusive features of ZipBooks:

Accounts Receivable: ZipBooks tracks receivable accounts and keeps accurate customer records. Moreover, it automatically updates the revenue earned and amounts owed in your accounts receivable report. You can manually edit any transaction outside ZipBooks into the database and gain thoughtful feedback on which clients regularly pay within a reasonable timeframe.

Bank Connect and Reconciliation: ZipBooks offers Bank connectivity and automatically streams your transactions on its platform after account verification. Moreover, you can view the current balance of your bank account plus the confirmed transactions in ZipBooks to make reconciling easier. 

Auto-Categorization: ZipBooks eliminates the repetitive data entry tasks from the bookkeeping and accounting process. It combines your work with research from other users and best accounting practices. Once done, it automatically categorizes your transactions. ZipBooks is an intelligent platform that uses Machine learning to learn your usage patterns and evolve accordingly.

Chart of Accounts: ZipBooks offers a chart of accounts, organizing everything in one central location. Here you can view the total inventory amount and overdue payments. Moreover, you can personalize additional account categories for your business.

Reporting: ZipBooks offers a snapshot of general payment trends and a balance sheet to document your assets, liabilities and equities. It calculates your profits and creates balance sheets that reflect periodic financial data. Additionally, you can highlight crucial aspects of your report and analyze all categories within your chart of accounts.

ZipBooks Pricing

ZipBooks offers 4 Pricing options for its accounting and reporting platform.

The "Free" plan is priced at $0 and connects with one bank account. Additionally, it offers unlimited invoices, basic reports, vendor and customer management and PayPal integration.

The "Smarter" plan is priced at $15/month and offers 5 team member accounts. Additionally, it provides reminder automation, multiple bank connectivity, time tracking and invoice scheduling.

The "Sophisticated" plan is priced at $35/month and offers unlimited user invitations. Additionally, it provides smart tagging, category customization, quick reconciliation and insightful reports.

The "Accountant" plan offers an on-demand pricing quote. It provides time tracking across client accounts, data migration, dashboard and transaction editing.

3. Akaunting

Akaunting is a free cloud accounting platform that offers bookkeeping tools for SMEs. It provides feature-rich software that tracks your transactions and invoices constantly. With Akaunting, you can make the portal accessible for your clients and share receipts or accept bulk payments.

Akaunting Features

Here are some exclusive features of Akaunting:

Free and Open-source Platform: Akaunting does not involve any hidden set-up fees and offers an entirely free accounting platform without any limitations. Moreover, due to its open-source nature, you can install Akaunting on your host and make changes to intrinsic features. Akaunting enables you to see and assess your financial situation online from anywhere.

Customer and Vendor Management: Akaunting allows you to create vendors and assign them bills or payments. Similarly, you can generate client contacts and send them invoices. You can also set up a client portal for your customers so they can view their assets and account books. Akaunting lets you filter the transactions easily and file them under the correct address.

Powerful Reporting: Akaunting offers detailed financial reports to help you visualize the relevant information to improve your business. You can see a graphical depiction of your account books to analyze the current economic affairs of your business. Akaunting provides quality insights that help you file accurate returns.

Customer Summary: Akaunting integrates with several CRM and project management tools to help you import client addresses. Moreover, Akaunting automatically created the customer profile with the correct address, list of transactions and paid, open or overdue totals at a glance.

Multi-Currency: With Akaunting, you can send invoices or add expenses in any currency and let the system convert the balance into your main denomination. It allows you to get the exact exchange rate and accept payments globally. Moreover, Akaunting automatically comprehends repetitive actions and executes them in a precise fashion periodically.

Akaunting Pricing

Akaunting offers 2 Pricing options for its accounting platform.

The "Free Cloud" plan offers one user account and is priced at $0. Additionally, it provides live currency rates, a billing calendar, a dedicated accountant profile and community support.

The "Premium Cloud" plan is priced at $36/month and offers unlimited user accounts. Additionally, it provides bank feeds, balance sheet and trial balance, general ledger, manual journals, chart of accounts and a client portal.

4. GnuCash

GnuCash is a free accounting platform that allows you to track bank accounts, stocks, income and expenses. It is based on core accounting principles to ensure accurate reporting and bookkeeping. Moreover, GnuCash is downloadable on your device and ideal for every business due to its flexible, powerful, intuitive interface.

GnuCash Features

Here are some exclusive features of GnuCash:

Checkbook-Style Register: GnuCash offers a custom, practical and familiar interface to input financial transactions. Moreover, you can enter split transactions, display multiple accounts in a single register window and customize the display style. GnuCash lets you autofill and marks the transaction as cleared or reconciled.

Scheduled Transactions: GnuCash lets you create recurring transactions and set automatic due reminders. It offers high-level timeline customization and allows you to postpone the scheduled transactions without aborting or inputting them before the set date. GnuCash simplifies banking by providing automation and scheduling.

Reports and Graphs: GnuCash offers an integrated module to display your finances in the form of pie charts, bar charts and scatter plots. Additionally, it provides a full suite of customizable reports like balance sheet, portfolio valuation and profit margin. GnuCash's reports are personalizable in appearance, parameters and content.

Statement Reconciliation: GnuCash offers a reconciliation tool to compare your inputted transactions against bank statements. It allows you to spot untracked transactions or data entry errors and ensure your accounting books match the bank records. GnuCash automates the reconciling and highlights the discrepancies in your database records.

Contact Tracking and Invoicing: GnuCash offers customer and vendor tracking, invoicing and tax calculation tools within its platform. You can manage employee payroll and plan your financial strategy by organizing your business budget. GnuCash ensures you have all relevant details to connect with the clients and vendors.

GnuCash Pricing

GnuCash is open-source and free accounting software. It does not offer any pricing options; you can download the tool by visiting the GnuCash website.

5. AccountingSuite

AccountingSuite is a San Francisco-based company that offers scalable accounting tools for businesses to evolve from infancy to maturity by increasing the market potential and firm value. It supports multitasking and provides a cloud-based accounting platform for you to check your financial status on the go.

AccountingSuite Features

Here are some exclusive features of AccountingSuite:

Cloud Banking: AccountingSuite offers Cloud Banking and connects you to more than 10,000 financial institutions. You can synchronize transactions to remove manual entries and manage your data faster. Additionally, AccountingSuite constantly reconciles transactions with its database to avoid duplicate entries and provide an accurate overview.

Accounting & Reporting: AccountingSuite allows you to make data-backed business decisions to stay in control. It offers an accounting and reporting module to provide business owners with swift, customizable access to financial details. Additionally, you can use the reporting tools to make critical decisions and instantaneously analyze, adjust or close the books.

Inventory Management: AccountingSuite reduces the time and effort spent on operations management by reducing the inefficiencies in your business infrastructure. You can control real-time inventory and track items in multiple locations. AccountingSuite lets you define assemblies inside your list and handle return management.

Project & Time Tracking: AccountingSuite streamlines project and time tracking by allowing you to manage project costs and income and create billable invoices efficiently. You can use the project profitability matrix to analyze your execution strategies and run comprehensive project transaction reports.

Sales & Purchases: AccountingSuite's Sales and purchase module offer business owners and entrepreneurs flexibility in invoicing, accepting payments and initiating refunds. You can close deals faster with clients and provide accurate answers to sales questions. AccountingSuite eliminates the tax headache by automating the calculations.

AccountingSuite Pricing

AccountingSuite offers 4 Pricing options for its accounting and project management tools.

The "Start-up" plan is priced at $19/month and provides one user account. Additionally, it offers banking accounting, time tracking and reporting capabilities.

The "Business" plan is priced at $25/month and provides two user accounts. Additionally, it offers sales and purchasing modules plus tax calculations.

The "Professional" plan is priced at $55/month and provides five user accounts. Additionally, it offers a price matrix, inventory management and project profitability tracking.

The "Pro W/E-commerce" plan is priced at $129/month and provides ten user accounts. Additionally, it offers ShipStation integration and advanced check voiding.

Why use Accounting Software at all?

Technology has immense importance in today's business world. The functions of the organizations are complicated, making it tedious to handle everything without dedicated software. Accounting now works dynamically and requires thorough analysis to prevent errors. Accounting software helps you track bank activities and organize your cash flow.

Accounting software tracks business transactions and exercises them within functional modules while offering the necessary details. It speeds up your information recovery, adds flexibility to your bank reconciliations, automatically plans taxes and provides automated invoices and money receipts.

Why should you use Personal Accounting Software?

Everyone prioritizes managing money with efficiency and simplicity. However, unexpected expenses can instantly pile up and destroy all your budgeting strategies. Personal accounting software can prove invaluable if you want to keep a lid on your spending spree or require an easy oversight of your finances.

Personal accounting software lets you track savings, investments, debts and pending bills. Moreover, you can see the expected cash flow from your revenue streams by syncing your bank accounts with the tool. Additionally, it offers budget planning to identify the receivables and payables quickly.

Personal accounting software minimizes unnecessary expenses by notifying you of transactions that can disturb your finances. For investors, finding home finance software that lets you monitor assets is a must. Personal accounting tools allow you to compare the performance of your investments against the market.

Organizing your finances is just as necessary as managing your business funds. Many solopreneurs or freelancers who work individually can't distinguish their personal and business transactions. Unique accounting software helps you identify the earnings and mark the business expenses to get tax deductions.

Personal Accounting Software, A Summary

Personal accounting software does not offer advanced functionalities. However, it is ideal for managing small bank statements, organizing finances and analyzing your expenditures. Personal accounting software enables you to gain insight and separate your professional transactions.

Kashoo offers an accounting platform with core bookkeeping and finance management features. It is our suggested pick for personal accounting software. Visit the website to get started.

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