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Akaunting Review: Pros, Cons, Features, and Pricing

Akaunting is an open-source accounting software built for small businesses and freelancers who need invoicing, expense tracking, and basic financial reporting without a subscription fee. I'd consider it over Wave if self-hosting matters to your team or you want to extend functionality through its app marketplace—Wave gives you less control over where your data lives and how the platform behaves.

Akaunting Evaluation Summary

Free cloud accounting for SMBs/freelancers invoicing, expenses, automation.
Customer Rating
3.2 /5
Pricing
  • From $8/month (billed annually)
  • Free trial available

Why Trust Our Software Reviews

Akaunting Overview

In my opinion, Akaunting is a solid choice for small businesses and freelancers looking for a cost-effective accounting solution. It offers essential features without overwhelming you with complexity. While its ease of use and onboarding could use refinement, its price and core functionality are appealing. Compared to QuickBooks and other ERP-style providers, it lacks extensive integrations, but it outperforms in affordability and user-friendly design. I think it's best suited for those who need basic accounting without the bells and whistles. If you're choosing an accounting tool, consider your need for advanced features versus budget constraints.

How We Test & Score Tools

We’ve spent years building, refining, and improving our software testing and scoring system. The rubric is designed to capture the nuances of software selection and what makes a tool effective, focusing on critical aspects of the decision-making process.

Below, you can see exactly how our testing and scoring works across seven criteria. It allows us to provide an unbiased evaluation of the software based on core functionality, standout features, ease of use, onboarding, customer support, integrations, customer reviews, and value for money.

Core Functionality (25% of final scoring)

The starting point of our evaluation is always the core functionality of the tool. Does it have the basic features and functions that a user would expect to see? Are any of those core features locked to higher-tiered pricing plans? At its core, we expect a tool to stand up against the baseline capabilities of its competitors.

Standout Features (25% of final scoring)

Next, we evaluate uncommon standout features that go above and beyond the core functionality typically found in tools of its kind. A high score reflects specialized or unique features that make the product faster, more efficient, or offer additional value to the user.

We also evaluate how easy it is to integrate with other tools typically found in the tech stack to expand the functionality and utility of the software. Tools offering plentiful native integrations, 3rd party connections, and API access to build custom integrations score best.

Ease of Use (10% of final scoring)

We consider how quick and easy it is to execute the tasks defined in the core functionality using the tool. High scoring software is well designed, intuitive to use, offers mobile apps, provides templates, and makes relatively complex tasks seem simple.

Onboarding (10% of final scoring)

We know how important rapid team adoption is for a new platform, so we evaluate how easy it is to learn and use a tool with minimal training. We evaluate how quickly a team member can get set up and start using the tool with no experience. High scoring solutions indicate little or no support is required.

Customer Support (10% of final scoring)

We review how quick and easy it is to get unstuck and find help by phone, live chat, or knowledge base. Tools and companies that provide real-time support score best, while chatbots score worst.

Customer Reviews (10% of final scoring)

Beyond our own testing and evaluation, we consider the net promoter score from current and past customers. We review their likelihood, given the option, to choose the tool again for the core functionality. A high scoring software reflects a high net promoter score from current or past customers.

Value for Money (10% of final scoring)

Lastly, in consideration of all the other criteria, we review the average price of entry level plans against the core features and consider the value of the other evaluation criteria. Software that delivers more, for less, will score higher.

Core Features

Invoicing: Akaunting lets you create and send invoices easily, with customizable templates to reflect your brand.

Expense Tracking: Track and categorize expenses to manage budgets and control cash flow effectively.

Financial Reports: Generate core financial reports like balance sheet, profit and loss, and general ledger summaries.

Client Management: Manage client details and invoices using simple CRM-like features.

Multi-Currency Support: Handle transactions in multiple currencies and apply tax rates accurately.

Recurring Billing: Automate recurring invoices and purchase orders to streamline billing cycles.

Ease of Use

Akaunting’s clean dashboard and layout make navigation simple, even for beginners. While some advanced modules require time to master, most freelancers and small businesses find the learning curve manageable. Its automation tools streamline repetitive bookkeeping tasks, improving efficiency.

Integrations

Akaunting integrates with ZohoBooks, M-Pesa, Amazon Business, HubSpot, and more.

Akaunting also offers an API for custom integrations and connects with third-party integration tools for expanded functionality.

Akaunting Specs

  • 2-Factor Authentication
  • Accounts Payable
  • Accounts Receivable
  • API
  • Balance Sheet
  • Billing/Invoicing
  • BitCoin
  • Budgeting
  • Calendar Management
  • Contact Management
  • CRM Integration
  • Customer Management
  • Dashboard
  • Data Export
  • Data Import
  • Data Visualization
  • Expense Tracking
  • External Integrations
  • Forecasting
  • General Account Ledger
  • Inventory Tracking
  • Multi-Currency
  • Multi-User
  • Notifications
  • P&L
  • PayPal
  • Payroll
  • SAP Integration
  • Stripe
  • Supplier Management
  • Tax Management

Akaunting FAQs

Bradley Clifford
By Bradley Clifford

I have 15+ years of experience helping growth-stage companies build finance infrastructure, forecasting tools, and decision-support frameworks. I'm VP of Finance at Black & White Zebra, and previously Senior Director of Finance at Rewind, where I helped cut cash burn from $11M to $2M. I also spent 6 years at Stack Overflow, supporting growth from $20M to $100M through its $1.8B acquisition. I hold an FCCA designation and an MSc in Professional Accountancy.