The startup offers an online accounting platform that provides fee-based bookkeeping services, ensuring businesses maintain accurate financial records and manage payroll taxes efficiently. By automating employee self-onboarding and identifying potential tax deductions, the software helps companies categorize expenses and stay current with their financial obligations.
Funding
$630K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many small businesses and freelancers struggle with managing their finances due to the complexity and cost of traditional accounting software. They need a simple, affordable solution to track income, expenses, and generate financial reports without requiring extensive accounting knowledge.
Solution
Akaunting is a free, open-source, online accounting software designed for small businesses and freelancers to manage their finances and stay on top of their cash flow. The platform offers a range of features, including invoicing, expense tracking, double-entry accounting, and financial reporting. Users can manage multiple companies from one admin panel, send unlimited invoices, and accept online payments through various payment gateways. Akaunting also provides a modular app store, allowing users to extend the platform's functionality with additional features like bank feeds, CRM, and project management.
Target Audience
The primary target audience includes small business owners, freelancers, and entrepreneurs who need a user-friendly, affordable accounting solution to manage their finances effectively.
Features
- Unlimited invoices, customers, and vendors
- Expense tracking and categorization
- Double-entry accounting with balance sheet, chart of accounts, and journal entry
- Multi-currency support with automatic conversion
- Client portal for sharing transactions and invoices
- Recurring invoices and bills automation
- Bank account management and reconciliation
- Financial reporting, including cash flow statements and expense reports
- App Store for extending functionality with add-ons like CRM, inventory management, and payroll
- Customizable dashboards and widgets
- Multi-lingual support for admin and client panels
- Role-based permissions for team members
- RESTful API for integrations