As a business owner, being ahead of your accounting is important. Accounting software is important in managing financial tasks, from tracking income and expenses to generating reports and managing invoices. However, not every business can afford expensive accounting tools. Thankfully, numerous free accounting software options provide the necessary features without the added price tag.
Here is a list of the top 30 best free accounting software for business owners in 2024.
1. Wave
Wave is a popular accounting solution that is simple, completely free, and allows you to manage up to nine employees. It’s user-friendly and offers live bank feed services worldwide. Wave is an excellent choice for sole proprietors, freelancers, and small businesses. It simplifies cash flow management and helps you keep your finances organized.
You can connect Wave to different bank accounts and credit cards, allowing you to easily track expenses.
2. ZipBooks (Starter Plan)
ZipBooks is free online accounting and invoicing software that offers seamless bank integrations, expense management, time tracking, and team management features. It is an excellent option for anyone new to accounting. It allows you to manage unlimited customers and vendors while providing essential bookkeeping tools.
With ZipBooks, you can send as many invoices as needed and accept payments through Square or PayPal. However, the free plan restricts you to connecting only one bank account and offers a limited number of integrations.
3. GnuCash
GnuCash is an accounting program that uses a double-entry bookkeeping system and includes features for small businesses. It offers a wide range of features without limitations, and the tax reporting is based on US taxation. GnuCash also has an Android app for managing finances on the go, making it a good fit for small businesses.
4. NCH Express Accounts
NCH Express Accounts is a free accounting software for businesses with five or fewer employees. It enables you to create quotes, send invoices, and track expenses efficiently. The software offers over 20 different financial reports, allowing you to monitor your business’s financial performance. Additionally, you can analyze your sales by customer, team member, or product.
5. Zoho Invoice
While primarily an invoicing tool, Zoho Invoice offers many accounting features, including expense tracking and reporting.
The free version lets you invoice up to five customers and set up five invoicing workflows.
With the software, you can design customized invoice templates, establish recurring invoices, and automate payment reminders. However, the free plan supports only one user, making it ideal for small businesses with minimal bookkeeping needs.
6. Xero (Starter Plan)
Xero is a platform for small businesses, serving 3.95 million users with core accounting, payroll, workforce management, and project tracking. Its free starter plan provides basic accounting tools like invoicing, bank reconciliation, and financial reporting. It’s ideal for small businesses and freelancers who need simple accounting solutions.
Xero provides a mobile app for customers’ smartphones, enhancing portability and compatibility. These features make it more convenient and appealing for users on the go.
7. TurboCASH
TurboCASH stands out as the top open-source accounting software for small businesses, supporting 25 languages and 80 tax regimes. It features a double-entry system with batch processing, enabling users to prepare transactions for posting to the general ledger in manageable batch sizes.
8. Akaunting
Akaunting is a free online accounting software for small businesses with no hidden costs or trial limitations. It is an open-source, web-based accounting software that provides features like invoicing, expense management, and financial reporting. As an open-source platform, users can access and customize the source code to meet their specific needs.
9. FreshBooks
FreshBooks is an online accounting and invoicing platform for your admin tasks, keeping your books organized, and maintaining a professional appearance for your business. It offers a 30-day free trial with all features available for you to try right away. With FreshBooks, you get unlimited expenses and estimates, plus features for scheduling late fees, generating business health reports, and tracking mileage.
10. Manager
Manager is an accounting software compatible with Windows, Mac, and Linux operating systems. It is free and packed with features, and the setup process is quick, allowing you access to its tools almost immediately. You can process tasks like general ledger management, cash management, and remittance advice. The software also handles tax computations for VAT, GST, and sales and manages payrolls. Additionally, it offers customization options for email templates.
11. ClearBooks
ClearBooks has a 30-day free trial plan. The software offers online bookkeeping and accounting services for startups, including budgeting, funding, and market strategies. Users can manage all activities from a single database system. The platform provides features such as invoicing, expense tracking, financial reports, and tax submissions. It also includes smartphone app access and paid packages and plans.
13. BrightBooks
Brightbook is a free online accounting system for freelancers, contractors, startups, and small businesses with one to five employees. Entrepreneurs managing multiple companies can set up several free accounts and access them with a single login. Users can create invoices in any currency and include PayPal links. They can also upload scanned receipts or supplier bills and import bank statements.
14. Sage Intacct
Sage Intacct is a flexible financial platform that offers comprehensive accounting capabilities to businesses worldwide. It provides core applications such as general ledger, accounts payable, accounts receivable, and cash management, along with features for dashboards, real-time reporting, and project accounting.
15. Cloud Books
Cloud Books offers free invoicing and accounting software tailored for freelancers and small businesses. With this tool, you can issue estimates and invoices, process payments, and monitor expenses.
However, the free plan restricts you to only five invoices per month to a single customer. For unlimited invoicing, you can upgrade to the paid version for just $10 per month.
16. Odoo
Odoo simplifies the process of sending professional invoices and receiving payments online. After dispatching an invoice, you can track its status and set up automated reminders for clients. Additionally, Odoo allows you to manage point-of-sale transactions, expenses, and inventory.
The Odoo Accounting software is free for one user, but you’ll need to pay for additional user access.
17. KashFlow
KashFlow is a cloud-based bookkeeping software that you can access from anywhere with an internet connection. It efficiently handles financial activities for both small and large businesses, even if your team is spread across various locations. Available on smartphones and designed with user-friendliness in mind, KashFlow is easy to learn and use. You can sign up for free and begin your trial session without cost.
18. Yendo
Yendo is a cloud-based accounting solution created for small businesses. It includes essential features such as invoicing, purchase management, payment processing, expense tracking, and comprehensive reporting, including final, annual, and monthly reports. Additionally, Yendo is optimized for all smartphone devices, ensuring you can manage your finances on the go. Best of all, you can start using Yendo at no cost, with no signup fees required.
19. Sunrise
Sunrise is a practical free accounting software designed for small businesses. It allows you to automatically import transactions, track income and expenses, and generate invoices. Additionally, you can accept payments online and with the app.
20. QuickBooks
QuickBooks offers a free trial version for the first 30 days. The software simplifies managing your business finances by consolidating everything in one place, allowing you to complete frequent tasks more efficiently. You can quickly set up, learn, and use the software without needing prior accounting knowledge. Importing data from a spreadsheet is straightforward, and you can easily create invoices and track expenses.
21. Kashoo
Kashoo is aimed squarely at small and medium-sized businesses. The platform simplifies accounting by offering a comprehensive, all-in-one solution. After a 14-day free trial, Kashoo customers pay $27.00 per month (billed annually) or $30.00 (billed monthly).
22. Money Manager Ex
Money Manager Ex offers a range of features that can compete with premium software. It is user-friendly, allowing you to set up your accounts and transactions quickly. Its simplicity makes it an excellent choice for sole traders and personal finances.
23. Pandle
Pandle is a free accounting software designed for small businesses and freelancers. It automates your most time-consuming bookkeeping tasks, including importing and verifying bank transactions, sending payment reminders, and generating recurring invoices.
24. Bookipi
Bookipi is a free invoicing app that offers some basic accounting features like expense tracking and reporting. It’s ideal for freelancers and small business owners who need a simple invoicing solution.
25. BoxBilling
BoxBilling is an open-source billing and invoicing software that includes basic accounting features. It’s ideal for small businesses looking for a customizable billing solution with accounting capabilities.
26. Giddh
Giddh sends professional business invoices and tracks payment stats. It allows users to enjoy unlimited access and manage inventory with features for product and service tracking, barcode searching, and real-time reports. With Giddh, you can send invoices directly via WhatsApp, email, and SMS from your accounting software.
27. myBooks
myBooks software offers straightforward pricing with a free version that includes essential features, making it easy to start managing your business finances. It simplifies foreign exchange by automatically handling currency conversions. The software also connects to your bank accounts, providing automated bank feeds on your dashboard and enabling you to manage multiple accounts from one interface. Additionally, myBooks streamlines invoicing with a user-friendly template that reduces data entry and ensures consistency.
28. QuickFile
QuickFile accounting software helps businesses streamline their accounting processes and save time and money. The software is designed for small to medium-sized businesses and is available as both a cloud-based and on-premise solution.
29. Acclaim Software
Acclaim Software’s Cashbook Complete is user-friendly accounting software tailored for small businesses and designed specifically for non-accountants. It features a user-friendly interface and is free to join. Additionally, it offers a desktop application for users, which can be easily downloaded from the website.
30. Basetax
Basetax simplifies the process of recording earnings for tax purposes. It allows you to track your income and expenses and facilitates the submission of your tax return. Their pricing structure offers straightforward options with no hidden costs or restrictions. You can change or cancel your plan at any time. The FREE plan provides basic bookkeeping software you can use.