The Howdy Glossary

Akaunting is an open-source accounting software developed by Kafan Inc. It addresses the needs of small and medium-sized businesses by providing tools to manage financial records, invoices, expenses, payments, bank reconciliations, taxes, and multi-currency transactions. The platform can be accessed via a web interface or downloaded for use on local servers or cloud platforms. Akaunting's design follows double-entry accounting principles and offers various business analysis reports through its integrated marketplace, which also allows users to extend its functionalities with additional apps.

Led by Eray Ates, Akaunting was created to provide a user-friendly and feature-rich solution that simplifies financial management processes for smaller enterprises. The software is highly customizable and extendable with additional apps from its marketplace. This level of flexibility makes it an adaptable tool capable of meeting diverse accounting needs while ensuring accuracy in financial tracking and reporting through features like bank reconciliation and robust tax management tools.

Akaunting stands out against competitors like QuickBooks Online, Xero, Wave Accounting, and FreshBooks due to its open-source nature which permits extensive customization according to individual business requirements. Its self-hosting capability offers greater control over data security and privacy—a significant advantage for many businesses. With support for multiple currencies facilitating international operations seamlessly and an integrated marketplace offering scalability through diverse app selections, Akaunting proves to be a versatile solution catering effectively to entrepreneurs, freelancers, startups as well as growing ventures seeking a comprehensive yet flexible approach to their financial management needs.