Free accounting software

Why you should not buy free accounting software?

Preface of a free accounting software

Free accounting software is a software that you can simply sign up for and install in your system without actually buying it from a company. It manages your accounts and stores it without you having to do anything manually. The free accounting software once installed remains free and they might just need some updating every month. Accounting software that are free are mainly used by small business, they have features that manage a small business with simple way of accounting and saves your accounts in the system.

Even though these accounting software seem tempting because you get an accounting software free of cost but like certain things in sale these free software have certain drawbacks that you might need to heed to before letting it take over your accounts:

a.) Data loss risk

There are many ways that a software could catch a bug or there are chances of system crash. Hence with no back up it is like letting a child hold china so you have a great risk of losing your accounts to a free accounting software. Unlike with an accounting software that could cost you a little but with store your accounts in the cloud making it restorable and saving you from all the factors that could lead to losing your accounts.

b.) No support

As mentioned the there is no back up for the free accounting software and you have no ways to restore your accounts once you lose it due to any kind of mishaps. The data is stored in a system, so you have to be very careful to have the data stored elsewhere as well so you don”™t lose it to the software in your system. But with a software that the accounting software companies usually sell you can store your data in the cloud. So even when there is any system crash or bugs etc you have a backup and restore them from the cloud.

c.) Unwanted Advent intrusion

You would like your accounts to be safe and private but you have no guarantee with an accounting software that is for free. You don’t not get enough security in a software that allow you to sign up for free. Because the passwords etc are always re-settable so you have various ways to hack them and you cannot be sure that your accounts are not being accessed by anyone else. But a  software that you purchase will give you bank level security with limited access. So with a security of high level and accessibility restrictions you have a safe way to store your accounts with no hackers or intruders.

d.) Risk of the company closing down

When you install or sign up for a company your intentions would be to manage your business and to expand it. But the free software are mainly for small business and even then it gives very less security. So you don”™t have much chances to grow your business and you have high risk of losing your accounts and your risk to hackers has also high chances and we are all aware of what it could lead to. Hence to save yourself from a dooms day it is much more brighter to choose an accounting software that you safely install purchasing from an accounting software company. It helps your business to grow by managing it from all the sides and your accounts are stored with a high security so no one trespasses your accounts.

e.) No option to extend or customize

The free software are used by a small business and the ones that are not looking to grow any bigger. But the companies are always looking to expand and with a free accounting software it is just a locked door. There are no options of expanding the software and you have to bend along with its system so your business has to adjust with the way the software works. But when you purchase an accounting software due to its value you can always expand it as your business expands. It gives a boost for your business to take leaps by taking care of your business from all the side and keeping track of all the areas inside your company.  With a purchased software there is no need for your company to try to squeeze inside it or take its shape, because it will automatically customize with your type of business. Making it easier for you to work with it and hence you can manage your business in a much simpler way.

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Sumathi

I’m a tax expert with over 10 years of professional experience. I’ve gained practical insights on GST and other Taxes during my tenture as a Tax expert and GST Trainer in Reach Accountant.