Have you been looking for an invoicing or project management solution that doesn't break the bank of your bootstrap budget? Making a decision on where to spend a limited budget is something we all think about and struggle with as startups and entrepreneurs.

Well, I have assembled three different alternatives of low or no cost for invoicing and project management tools. Each tool offers a unqiue approach. Full disclosure is that I am not representing or suggesting one over any of the others. I believe they each have their place. I am not even currently using any of the platforms. I, myself, am still researching what will best fit my needs. Keep in mind these three tools are not the only options out there, but they are the ones that are the most friendly to the needs of small budgets.

These two tools are hosted online:

• Orangebooks - Cost: Free (always 100%) - Unlimited Invoicing/Quotes/Statements, Online Payments/Payment Reminders, Data Security, Time Tracking/Project Management and Powerful Reporting.
• Wave - Cost: Free (Invoicing/Accounting/Receipts) - Unlimited Invoicing, Easy Accounting, Accept Credit Cards, Capture Receipts (via Free smartphone App), Data Security and Backup. Wave also offers employee payroll, although it isn't free, it is low cost and affordable. Cost: Base fee $5, First 10 employees $4/each, Additional Employees (11+) $1/each. Example: Base $5 + Employees $4 * 10 = $45/month.

This tools is self-hosted (Internal Server or on Your Website):

• Pancake - Cost: $49 (one time payment) - Online Invoicing, Project Management, Time Tracking, Proposals, File Delivery, Client Access Area.

I believe all three options offer attractive and intuitive interfaces and have solid feature sets that can hopefully meet your needs. Conduct your own research and hopefully you find a great fit.