Free accounting, preferably online

[ville1401]

I have been a quickbooks user since 1996 and love it. I want to get our personal finaces tracked and recorded in the same way our business ones are, without clogging up the business accounts.
So I'm looking for recommendations for some free software that could do the job, before I take the plunge and take out a seperate quickbooks subscription.
I've tried personal finance programs but run into the issues of not enough levels of subcategories, I wnat to track various hobbies spending as well as holidays and travelling and could do with at least 3 levels, catgeory, sub category, sub catgeory of the sub category. The other issue is automated bank feeds for different perosnal accounts under different names coming into one program. (My wifes accounts are still in her maiden name)
Ideally we'd like to have access from apps on our own phones as well, but I'm not holding my breath on that
Hoping that some on here might have ended up doing something similar and have some good suggestions?

 

[MyAccountantOnline]

I have been a quickbooks user since 1996 and love it. I want to get our personal finaces tracked and recorded in the same way our business ones are, without clogging up the business accounts.
So I'm looking for recommendations for some free software that could do the job, before I take the plunge and take out a seperate quickbooks subscription.
I've tried personal finance programs but run into the issues of not enough levels of subcategories, I wnat to track various hobbies spending as well as holidays and travelling and could do with at least 3 levels, catgeory, sub category, sub catgeory of the sub category. The other issue is automated bank feeds for different perosnal accounts under different names coming into one program. (My wifes accounts are still in her maiden name)
Ideally we'd like to have access from apps on our own phones as well, but I'm not holding my breath on that
Hoping that some on here might have ended up doing something similar and have some good suggestions?

Do you have any business income included in your personal finances for example rental income?

My initial thought was FreeAgent which is free if you have any business accounts with NatWest, RBS, Ulster Bank or Mettle although it's really for business use.

 

[ville1401]

No the rental income goes into a starling business account, and the personal accounts are lloyds, tsb and starling.

 

[Paul Kelly ICHYB]

Excel!

 

[ville1401]

Never again if I can help it.

 

[GLAbusiness]

I use moneydashboard for this. Maybe worth a look to see if it meets your needs.

 

[Bob Morgan]

Excel!

Just wait for the 'Avalanche of Rejection!' Think about all of those Commissions being lost However, I agree, totally. In my own case there isn't anything that does what I want it to do, as I am in a 'Unique Niche' - Free, Subscription, Cloud or Desktop

 

[Ian J]

Excel!

It works just fine for me

 

[JEREMY HAWKE]

My personal finances are not complicated enough to need an accounting system in fact I can remember it all in my head

 

[ville1401]

For anyone else, zoho is looking pretty promising at the moment.
Will let you know.

 

[Bob Morgan]

My personal finances are not complicated enough to need an accounting system in fact I can remember it all in my head

Just to jog my memory I have Company Accounts on the back of a fag packet, and Domestic on the match box!

 

[Deleted member 277242]

I can recommend QuickFile. It's not free but a lot cheaper than QuickBooks.

I moved all 3 of my accounts to QuickFile over 3 years ago and haven't looked back. Has all the features you need. Balance sheet, P&L, cash flows, bank feed.

I also have a referral link which gives you and me a small discount.

DM me if you want the link as I'm not allowed to post.

 

[biobob]

I am with quickfile and just gone over the free version allotment which seems small as not many transactions as only a sole trader so you would have only a few items to keep free.

 

[ville1401]

My personal finances are not complicated enough to need an accounting system in fact I can remember it all in my head

Yeah neither are mine, but sadly my head doesnt keep much in it any more, so looking for a way to analyse our spending.

 

[Uwe (Invoiceberry)]

If it has to be 100% free, then Open Source is the best bet. Check out GnuCash.

 

[The Byre]

GnuCash is also what I would recommend - but it has three downsides -

1. Only one entry point, so only of use if you have only one person or place where entries are made.

2. You have to configure it. It does not come out-of-the-box ready.

3. No Make Tax Digital access, so you will have to use a plug-in or one of the many MTD services.

The advantages are too numerous to mention all, but for starters, multiple currencies, stock control, many users who have created their own templates and share them online, proper double-entry structure, many analytical tools and charts and things like that for P&L sheets.

Features | GnuCash

GnuCash is powerful accounting software. Below are details of some of the numerous features that GnuCash has to offer to its users.

www.gnucash.org

 

[ArabianNights]

its not free - but we have started using Xero, because it seems to be accepted and integrates with everything easily. Used the 30-day free trial that comes with it, to learn the system and for those not technically minded, it is very easy to use. Still getting the grips with it, but thankfully we have found that features which we thought would be hard to use or things that we want to do, will be hard to do was actually very easy to do - for example splitting foreign transactions so that we can label one part of the transaction as a VAT-reclaimable business expense and the rest as bank fees, which don't attract VAT and it computes everything for you. About to use it to complete VAT return, before that we used ANNA, which was great, but with VAT filing, there wasn't an option to upload invoices / receipts, potentially causing more scrutiny down the road with HMRC and also the stress of worrying about potentially loosing the link between VAT reclaimed transactions and the evidence / receipt / invoice. About to use it also for PAYE - looks promising and its not expensive either.

 

[vivente]

Never used it but this is what I could find. Looks interesting. https://www.firefly-iii.org/

 

[Deleted member 277242]

If it has to be 100% free, then Open Source is the best bet. Check out GnuCash.

GnuCash is also what I would recommend - but it has three downsides -

1. Only one entry point, so only of use if you have only one person or place where entries are made.

2. You have to configure it. It does not come out-of-the-box ready.

3. No Make Tax Digital access, so you will have to use a plug-in or one of the many MTD services.

The advantages are too numerous to mention all, but for starters, multiple currencies, stock control, many users who have created their own templates and share them online, proper double-entry structure, many analytical tools and charts and things like that for P&L sheets.

Features | GnuCash

GnuCash is powerful accounting software. Below are details of some of the numerous features that GnuCash has to offer to its users.

www.gnucash.org

Does GNU Cash have bank feeds to UK banks via open banking. If so might be worth exploring.

 

[percolated]

I know a few people who use Anna Money website: anna. money without the space and I've been really impressed with it. Quick to set up and although is a bank, their phone/web app is really clever. You can start with a PAYG plan which is basically charging by transaction and then pay monthly when the time is right.

Does invoicing, MTD VAT filing, takes picture of receipts, payroll and has a store for your company documents. It's obviously not quite free as it's PAYG (20p per transaction) but could be a nice solution for some if the numbers add up for them.

It does have lots of premium, at a further cost features like filing Corp Tax although I don't think I would trust not using an accountant!!

 

[Karimbo]

Free, good, easy. You can have 2 of the 3. Never all 3.