A simple and free accounting package suitable for small businesses.
This accounting package is provided in three different versions - a free desktop edition, a cloud edition and a server edition. For the purpose of this review I examined the free desktop edition. From the information on their web site, the cloud and server editions look very similar except that the cloud edition is hosted on their web site and the server edition is hosted on your web site rather than on your desktop. The other difference is that these two versions are not free and they support multi user access.
This product includes multiple bank account processing, petty cash, sales quotes, sales invoices, credit notes, purchase orders, purchase invoices, delivery notes, customers, suppliers, expense claims, journal entries and reporting - everything you need to do accounting for a small business.
Transferring from a previous accounting package is relatively straightforward. All you need to do is to go into the Chart of Accounts option to make sure all the accounts you need exist and then create a journal with the account balances as at your transfer date. The chart of accounts screen has the accounts laid out nicely so that you can easily see what is there with income and expenses on the left and assets, liabilities and equity accounts on the right. Control accounts that the system needs in order to function correctly are locked and where you can have more than one of those types of accounts (eg. bank accounts) the system allows you to create them as sub accounts.
The biggest problem I can see for people using this particular accounting package is that there does not appear to be any way to set a default tax code for each account. This means tat you need to select the tax code for each individual transaction making it easy to leave off a tax code resulting in an incorrect tax calculation. For example for Australian use the software provides the four tax codes needed for correctly calculating GST and does calculate the GST where the tax codes are correctly input on the individual transactions but the default value in the tax code field if you don't change it leaves the transaction out of the GST calculation completely - which is never a valid option for most income and expense accounts.
Go to Manager to get your own copy of this accounting package.
Note that as with any accounting package you need to have a knowledge of bookkeeping to be able to enter information correctly.