This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Get Ready for Free Tax-Prep Software That Actually Works

NEW YORK (TheStreet) -- I will leave Intuit's fate to better minds. But considering how good free business accounting tools like Wave Accounting are becoming, it's a safe bet the company won't be bumping up prices for business ledger management software like QuickBooks.

The Web era's "everything-as-ad-supported-medium" business ethic has found an odd new niche: business accounting software. Never mind that excellent business ledger tools are cheap. Intuit and Outright, both based in Mountain View, Calif., and Vancouver's Kashoo offer powerful accounting tools for about $10 a month.

9 Stocks That Prove Dividends Make All the Difference

In these Web free-to-all days, sophisticated ledger-management payment and bank reconciliation software packages -- the once-for-enterprise-only stuff of ADP, NetSuite or Peachtree by Sage -- are now ad-supported Web services that are totally free.

That is correct: When it comes to business accounting, free is the new black.

No-cost services are flourishing. Toronto-based Wave Accounting claims it has managed a combined $20 billion in expenses and income since it launched in mid-2010.

"We are currently signing up tens of thousands of small businesses every month," says Rob Maurin, vice president for community content and communications at the company.

To get a feel for how real, really free accounting tools are, I gave Wave a solid once-over this tax season. My takeaway: It is by no means perfect -- and the issue of privacy needs to be carefully considered. Still, I am seriously considering migrating my own business to Wave.

Here's why:

1. Free accounting tools work.

I was immediately impressed by Wave. Signup takes, no kidding, 12 seconds. I timed it. Just log in and get a free account. Try that with Intuit's QuickBooks. (Note: Use a stout password, please -- this is important information you don't want stolen.) In an instant, before you are all the graphs, ledgers and accounting tools you need to keep your business on the right side of the IRS.

7 Companies That Keep on Growing

The feature set is top-notch. There was an effective customizable recent activity and financial snapshot tool. I liked the ability to automatically import transactions from a bank or credit card. There were well-laid-out income reports, including a breakout of aging payables, a good sales tax reporting tool, and even a reasonable balance sheet engine.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,249.17 +92.32 0.54%
S&P 500 2,009.59 +8.02 0.40%
NASDAQ 4,586.80 +24.6110 0.54%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs