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Akounto
- All-in-one accounting software with bookkeeping, invoicing, reporting, and expense tracking
- Starts out at a much cheaper price point than many competitors
- Easy-to-use interface
- Free plan to get a taste of the software before committing to a paid subscription
- Only available to customers in the U.S.
- Cheapest plan only includes invoicing functionality – no bookkeeping
- No payroll processing
- Done-for-you bookkeeping is a separate service
If you’re a freelancer or running a startup, you likely know the importance of keeping accurate records of your finances.
But when you’re just getting started, investing in an expensive accounting software just might not be feasible.
Luckily, there are plenty of affordable solutions out there to consider. Akounto is an all-in-one accounting software with bookkeeping, invoicing, reporting, and expense tracking.
It’s easy to use and is one of the cheapest accounting solutions I’ve seen out there.
SMB Guide’s Verdict for Akounto
Based on that, its pricing, and user reviews we gathered from multiple sites, we give Akounto an overall rating of 7.6 out of 10 stars.
In this review of Akounto, I’ve followed SMB Guide’s detailed criteria for evaluating the bookkeeping software.
Akounto is an excellent accounting software for individuals running a small-scale startup or freelancing business.
It comes with a solid roster of features, especially for the price point, which is much more affordable than many alternatives out there.
That said, it’s currently only available in the U.S. with no set date for when it’ll become available in other countries.
Pricing & Plans
The first thing that stood out to me about Akounto was how affordable its plans are compared to other accounting softwares I’ve seen out there.
It claims to be a software for startups and freelancers, and the pricing reflects that. They don’t offer a free trial, per se, but I was able to create a free account with them and take a look around the software without ever having to subscribe to a paid plan.
I wasn’t able to explore in-depth, but it did allow me to get a feel for its different features.
Creator
Akounto’s Creator plan offers invoicing features for freelancers and fledgling entrepreneurs who only work on a handful of projects each month.
This plan doesn’t actually offer any accounting or vendor management features.
Price
- $5 per month
- $49 per year
Features
- Create up to 10 invoices per month for unlimited customers
- Send up to 10 estimates and credit notes per month
- Customize and automate your recurring invoices
Who it’s for: Fledgling freelancers
Startup
Akounto’s Startup plan offers invoicing features, expense tracking, and bookkeeping and reporting features. It’s a good option if you work with a lot of clients each month.
It also allows you to add an additional team member to your account.
Price
- $10 per month
- $90 per year
Features
- Create up to 40 invoices per month for unlimited customers
- Send up to 40 estimates and credit notes per month
- Customize and automate your recurring invoices
- Invite 1 team member
- Track and manage your expenses
- Easy bookkeeping and reporting
Who it’s for: Solopreneurs and small-scale startups
Growth
Akounto’s Growth plan is best-suited to growing SMBs who are looking for an all-in-one solution for their accounting needs. It includes everything from invoicing, to expense tracking and bookkeeping, to accounts receivables and payables.
Price
- $20 per month
- $180 per year
Features
- Create up to 200 invoices per month for unlimited customers
- Send up to 200 estimates and credit notes per month
- Customize and automate your recurring invoices
- Invite up to 3 team members
- Track and manage your expenses
- Easy bookkeeping and reporting
- Accrual basis accounting
- Accounts receivables and payables
- Bank reconciliation
Who it’s for: Growing small businesses
Expansion
With Akounto’s Expansion plan, the sky’s the limit. You can send unlimited invoices each month and invite up to 5 other team members to your account.
It includes all features from other plans, plus you’ll get dedicated expert support. If you have a second business, you can also add it to your account as well.
Price
- $30 per month
- $270 per year
Features
- Create unlimited invoices per month for unlimited customers
- Send unlimited estimates and credit notes each month
- Customize and automate your recurring invoices
- Invite up to 5 team members
- Track and manage your expenses
- Easy bookkeeping and reporting
- Instant reports
- Accrual basis accounting
- Accounts receivables and payables
- Bank reconciliation
- Ability to add a second business to your account
- Use your own logo
- Dedicated expert support
Who it’s for: Entrepreneurs with one or two small businesses
General Ledger and Chart of Accounts
The general ledger and chart of accounts are fairly straightforward in Akounto. They’re simple and to the point and give you the option of creating and classifying accounts based on your company’s specific financial structure.
That said, you’ll have to pick from Akounto’s premade list of assets and liabilities categories – I couldn’t find a way to create a custom category.
Bank Integration and Reconciliation
Akounto gives you an option of using either Yodlee or Plaid to facilitate the connection to your bank account.
The integration process is quick and easy, but you can expect it to take a while for your transactions to fully load into the software.
Bank reconciliation is a feature that’s only included on the Growth and Expansion plans. It’s not included at all on the two cheapest subscription options.
Financial Reporting
Akounto offers three main types of financial reports: profit and loss statements, balance sheets, and cash flow statements.
In addition, it allows you to pull sales tax summaries and reports for accounts receivable and accounts payable.
To access all of these reporting options, all you need to do is hover over the left hand menu and click “Reports.”
From there, the design makes it pretty self-explanatory.
AP and AR Management
Akounto offers robust accounts payable features. You’re able to create profiles for each vendor, import any existing vendors, and track your top vendors.
You can easily track your expenses as well as raise purchase orders.
Akounto also offers built-in invoicing. This feature was extremely intuitive and easy to use, plus you’re able to set up the invoices as recurring as well as set up automatic reminders so you’re not chasing customers for payment.
One thing I found really annoying about the invoicing feature is that when you’re creating an invoice, you’re required to fill out ALL customer fields – including street address, city, and country.
As a remote freelancer who works with many clients who are also remote and don’t have a dedicated business address, this didn’t really make sense to me, especially since Akounto positions itself as a solution specifically for freelancers and solopreneurs.
Neither accounts payables or accounts receivables are available in the least-expensive Creator plan.
Payroll and Tax Management
Unfortunately, Akounto doesn’t offer payroll or tax management features. And there’s no support for third-party integrations that offer those features, so if they’re important to you, you’ll need to use a different accounting software altogether.
User Interface and User Experience
Akounto’s interface is aesthetically pleasing and simple. I found it easy to navigate. I had no trouble finding what I needed when I needed it.
I especially liked the way the main dashboard was laid out. As soon as you log in to your account, you’re greeted with some of the most important information related to the financial health of your business – cash flow, projected profit, and ingoing and outgoing invoices.
Overall, pretty much everything about Akounto’s user experience was positive for me.
Integrations, Compatibility, & Supported Platforms
Akounto doesn’t support any integrations with third-party applications at this time, so if that’s important to you, you’ll likely want to look elsewhere.
However, they do offer a mobile app for both iOS and Android, which is a plus.
Customer Support
Akounto offers three different ways to get “expert support” for any issues you may have: you can call their toll-free line directly, schedule a call, or send them an email.
That said, it’s not clear what their customer service hours are or what the turnaround is for getting issues resolved.
They also have a Help Center that can help answer any simple questions straight away instead of having to wait for a response.
I think the Help Center is great for very basic questions, but for anything even slightly complex you’ll probably need to talk to a live human.
I tried out several different queries in the Help Center and many of the results came up empty, so it doesn’t seem like a very exhaustive resource.
What the Experts Say About Akounto
These are Akounto’s ratings on some of the most popular review sites:
- Trustpilot: 4.3 stars (7 reviews)
- G2: 5 stars (1 review)
- Capterra: 5 stars (1 review)
That’s an average rating of 4.8 stars, but with only 9 reviews total – not really the best sample size to draw from. That said, pretty much all of the reviewers had only positive things to say about the software.
Here are some excerpts from real customer reviews:
I love this software! It’s so easy to use and it has everything I need in one place. They also have a ton of features that are great for accounting professionals who aren’t necessarily business owners, which makes up my mind about them even more than before. I have had a pleasant experience with Akounto
Santosh S., Education Management – Verified Capterra review
“Akounto” is a great financial reporting software, but it does require some training before you can use all its features. I’m not too bad with numbers and know how to read the reports from Akounto. The one thing that might be difficult for the business’s owners who aren’t as confident in their knowledge about accountancy.
Shezan S. – Verified Trustpilot review
Akounto Alternatives
I think Akounto is a great option for solopreneurs to look into, but it’s not going to be right for everyone. And unfortunately, if you’re not in the U.S., you won’t be able to use it yet.
In either case, there are a ton of different alternatives out there, including:
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Bookkeeper360
Bookkeeper360 starts out at a much higher price point, but it offers one important feature that Akounto lacks – payroll processing. If you ever plan to bring on employees in your business, this is a feature you’re going to want to have.
Starting Price: $125/hour or $399/month
Best For: Remote businesses with simple financial needs and only a handful of income streams to track.
Schedule a call with a Bookkeeper360 specialist
Bench Accounting
Aside from just maintaining your books, paying taxes is another part of entrepreneur life that can be super overwhelming. If you want help keeping track of your 1099s and filing, Bench Accounting might be worth the extra cost over Akounto.
Starting Price: $349/month or $299/month with an annual contract
Best For: Small business owners who need bookkeeping support as well as keeping track and filing their 1099s.
LessAccounting
If accounting and business finances are something that make you want to pull your hair out, you might appreciate LessAccounting’s extremely simple interface.
Or if you run a business that requires you to track your mileage, LessAccounting has a dedicated feature for that while Akounto doesn’t.
Starting Price: $150/month
Best For: Freelancers, solopreneurs, and small business owners who need an easy-to-use accounting and invoicing solution.
Other alternatives: Best Akounto alternatives
Getting Started with Akounto
Akounto is an all-in-one accounting software that’s easy to use and relatively expensive compared to other alternatives. If you’re a U.S.-based startup or freelancer looking to get your books in order, Akounto is definitely something you should try out.
To get started, you can create an account for free to get a taste of the software before investing in it. But to actually get full use of its features, you’ll need to upgrade to a paid plan.
If you’re ready to take the plunge, sign up for Akounto today.
FAQs
Is Akounto a legitimate company?
Akounto is a legitimate accounting and invoicing software that has over 12 years of experience and is trusted by 10,000+ customers worldwide.
Who can use Akounto?
Akounto is specifically designed for small businesses, but they’re currently only serving customers based in the United States.
If your business is international, you’ll need to find another accounting solution. They say they’ll be expanding to new markets soon, but it’s not clear exactly when and where those new locations are.
Is Akounto good for freelancers?
Akounto’s interface is easy to use and its plans seem to start at a much lower price point than competitors across the board.
This makes it a great option for seasoned and fledgling freelancers alike. For freelancers who are just looking for invoicing software, Akounto’s Creator plan offers that functionality starting at just $5/month.
Bookkeeper360 is a Quickbooks and Xero bookkeeping, accounting, and advisory solution for small to medium-sized businesses.
Akounto
All-in-one accounting software to manage invoices, expenses, financial reports, payments, and taxes.
Product Brand: Akounto
3.8