Comparison
AllMy Ledger vs Spreadsheets
Spreadsheets work fine when you're just starting out. But once you need to invoice clients, reconcile bank statements, or generate tax reports, you need real accounting software.
When your spreadsheet stops being enough
Most freelancers start with a spreadsheet. It's familiar, it's free (Google Sheets) or already on your computer (Excel). You track income in one column, expenses in another. At some point you'll hit the wall.
The breaking points are predictable: you need to send a professional invoice. You need to reconcile your bank statement. Tax time arrives and you need a Schedule C. You realize you can't track which clients owe you money without building another sheet.
AllMy Ledger does all of this. It's accounting software that runs on your computer, just as private as your local spreadsheet, but with actual accounting features.
What accounting software gives you
| AllMy Ledger | Spreadsheets | |
|---|---|---|
| Pricing | $149 once $199 once | Free–$20/mo |
| Core Accounting | ||
| Double-entry bookkeeping | ✓ | Manual |
| Automatic balancing | ✓ | ✗ |
| Chart of accounts | ✓ | ✗ |
| Audit trail | ✓ | ✗ |
| Cash + accrual toggle | ✓ | ✗ |
| Business Features | ||
| Professional invoices | ✓ | ✗ |
| Estimates & quotes | ✓ | ✗ |
| Credit memos & vendor credits | ✓ | ✗ |
| Email invoices from app | ✓ | ✗ |
| Multi-currency | ✓ | ✗ |
| Period locking | ✓ | ✗ |
| Payment tracking | ✓ | Manual |
| Bank reconciliation | ✓ | ✗ |
| Bank file import (OFX/QFX) | ✓ | ✗ |
| Recurring transactions | ✓ | ✗ |
| Customer management | ✓ | ✗ |
| Vendor management | ✓ | ✗ |
| Reports & Tax | ||
| Schedule C tax report | ✓ | ✗ |
| Profit & Loss | ✓ | Build yourself |
| Balance Sheet | ✓ | Build yourself |
| Cash Flow Statement | ✓ | ✗ |
| 1099 contractor tracking | ✓ | ✗ |
| AR/AP aging reports | ✓ | ✗ |
| Customer statements | ✓ | ✗ |
| Data Safety | ||
| Auto-backup | ✓ | ✗ |
| File attachments | ✓ | ✗ |
| Data stays on your computer | ✓ | ✓ |
Signs you've outgrown your spreadsheet
You send invoices
Making invoices in Word or a template is tedious. AllMy Ledger creates professional PDF invoices and tracks payments automatically.
You dread bank reconciliation
Manually matching bank transactions against your spreadsheet is error-prone. AllMy Ledger imports bank files and has a 3-step reconciliation wizard.
Tax time takes days
With a spreadsheet, you're manually categorizing and summing for Schedule C. AllMy Ledger maps accounts to tax lines and generates the report instantly.
You hire contractors
Tracking 1099 payments, W-9 forms, and the $600 threshold in a spreadsheet is risky. One missed contractor means IRS trouble.
You need real reports
Profit & Loss, Balance Sheet, Cash Flow. Building these from formulas is fragile. AllMy Ledger generates 13 reports with one click.
Errors keep creeping in
One wrong formula, one mistyped number, one deleted row. Spreadsheet errors are silent. Double-entry accounting catches mistakes automatically.
You don't need to know accounting
If "double-entry bookkeeping" sounds intimidating, don't worry. AllMy Ledger's Simple Mode uses plain language like "Money In" instead of "Accounts Receivable" and "Categories" instead of "Chart of Accounts." The accounting happens behind the scenes.
When you're ready (or if your accountant needs it), switch to Accountant Mode for full terminology. Same data, same software, just different labels.
When a spreadsheet is still fine
Side hustle tracking: If you just need to track a few hundred dollars in income and expenses for a hobby, a spreadsheet is fine.
No invoicing needed: If you don't send invoices (e.g., you only receive 1099s from platforms), a simple tracker may suffice.
Very few transactions: Under 50 transactions a year? A spreadsheet can handle that without much effort.
Custom analysis: Spreadsheets are unmatched for custom pivots, charts, and ad-hoc analysis that no accounting software can replicate.
Better than a spreadsheet, still on your computer
Real accounting, real reports, real invoicing. Still on your computer. $149 through April 30, then $199.$199 once.
7-day trial · No credit card · Windows, macOS & Linux