software background10 Best Free Accounting Software That You Need To Try!

10 Best Free Accounting Software That You Need To Try!

By Nguyen OanhUpdated: February 26, 2024, first publication: July 2022

If you’re looking for the best free accounting software, you’re in the right place.

As your business starts to gain momentum, you are probably considering using software to manage your accounting. The goal? Save time, so you can focus on your core business. But, cash flow doesn't always follow.

The smallest organizations are therefore quickly tempted to look for good free software to minimize their costs while benefiting from the essential accounting features. But, is there actually effective free software? Can open-source options be a relevant alternative?

There is a wide range of good free accounting software on the market, now you just have to choose the best one for your business. Don't worry, we’ll help clear things up with our comparison of the best free accounting software.

Our Picks for The Best Free Accounting Software

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Melio

Akaunting

GnuCash

NCH Software

Odoo

QuickBooks

Wave Accounting

ZipBooks

Zoho Books

For companies with 1 to 250 employees For companies with 1 to 250 employees For all companies For all companies For companies with more than 1 employees For companies with 1 to 50 employees For companies with 1 to 250 employees For companies with 1 to 250 employees For all companies

Pricing on request

Free versionFree trialFree demo

Pricing on request

Free versionFree trialFree demo

Pricing on request

Free versionFree trialFree demo

Pricing on request

Free versionFree trialFree demo

Pricing on request

Free versionFree trialFree demo

Paid version from €10.00 /month

Free versionFree trialFree demo

Pricing on request

Free versionFree trialFree demo

Pricing on request

Free versionFree trialFree demo

Pricing on request

Free versionFree trialFree demo
Learn more about Melio Learn more about Akaunting Learn more about GnuCash Learn more about NCH Software Learn more about Odoo Learn more about QuickBooks Learn more about Wave Accounting Learn more about ZipBooks Learn more about Zoho Books

Akaunting

Akaunting

13 reviews

Free and Open-Source Accounting Software
Learn more about Akaunting

What is Akaunting?

Akaunting is a free, open-source, and online accounting software designed for small businesses and self-employed professionals. This free software helps you manage everything from invoicing to expense tracking and accounting, all for free! There is no limited or free trial, it's completely free.

Akaunting is an online software, so everything is available from the cloud. You can access your information anywhere, anytime, and on any device. Furthermore, as a free open-source software, you can customize the software as you want–no fees to be expected. Your data security is also a priority in this program.

Keeping track of your financial health can't be easier thanks to Akaunting!

Features and Pros

Akaunting is a feature-rich software:

  • unlimited bank accounts and companies' accounting management,
  • deep analytics and reporting from the dashboard,
  • client portal and customer summary,
  • recurring reminders and discounts for clients,
  • tax management and categories (expenses, income, …)

Con

  • Customer support is known to be less reactive than other software.
Akaunting© Akaunting

BrightBook

What is BrightBook?

BrightBook is a widely used online accounting software, relied upon by professionals and businesses globally. With its user-friendly interface and robust security, this tool is accessible to all, regardless of their accounting expertise. By streamlining accounting processes, BrightBook enables users to focus on business growth.

Many freelancers and self-employed people worldwide choose BrightBook for its complimentary usage and robust functionalities like financial report management, billing, invoicing, and accounting support.

Features and Pros

Many features contribute to BrightBook's status as one of the most widely used free accounting software options for numerous small businesses:

  • billing, invoicing, expenses and income management combined with multi-currency functionalities,
  • instant financial insights and daily data back-ups,
  • import bank statements, profit/loss and tax reports,
  • online payments available,
  • unlimited users and accounting management for multiple companies from a single admin account.

Con

  • No mobile version, unlike most other free accounting tools available.
Brightbook© Brightbook

GnuCash

GnuCash

95 reviews

Open Source Accounting Software
Learn more about GnuCash

What is GnuCash?

GnuCash provides free accounting software tailored to freelancers and small companies. It allows you to efficiently handle quotes and invoices, and gain a precise understanding of your income and costs to effectively forecast your cash flow. GnuCash automatically generates your financial records using input data from customer invoices and synchronized bank statements.

The tool's functional coverage is excellent for those new to free accounting software. Additionally, GnuCash provides numerous possibilities for small companies with established business activities. 

💡 A mobile version is available for both Android and iOS. You can acquire the application from Google Play or the Apple Store.

Features and Pros

Here are GnuCash’s free product features:

  • double-entry bookkeeping, combined with reports and charts,
  • account, income and expense management,
  • recurring transactions and reconciliation statements,
  • track stock portfolios and manage mutual funds,
  • transaction searching and data privacy.

Con

  • GnuCash has a more compact interface, though it adequately encompasses all essential accounting information.
GnuCash© GnuCash

Melio

Melio

+200 reviews

Revolutionizing B2B Payments & Amplify Cash Flow
Learn more about Melio

What is Melio?

Melio is a user-friendly financial platform created to streamline the process of paying bills for small businesses, saving you 50% of the time spent on paying. It's particularly advantageous for simplifying and automating payments to vendors and contractors, making it a convenient option for businesses handling a high volume of transactions.

Vendors get quickly paid the way they want, either by check or bank transfer, and you can pay your bills through ACH, debit or credit card. Flexibility is the key. 🗝️

💡Pay everywhere at any time with Melio’s mobile app for iOS–paying on the go!

Features and Pros

Melio provides a complete solution with numerous essential features:

  • flexible, customized and scheduled payment processing,
  • assigned specific roles (admin, owner, contributor, and accountant) and approval workflows,
  • 1099 form essential for tax reporting and general management,
  • tracking of national and international payments sorted by chosen filters (date, recipient)
  • integration with QuickBooks providing seamless sync with accounting records.

Con

  • No Android App yet.
Melio Screenshot© Melio

NCH Software

NCH Software

Best Free Accounting Software
Learn more about NCH Software

What is NCH Software?

NCH Software may not be the most widely recognized free accounting software, but it packs a powerful punch. It provides all the necessary free features for managing accounting in small to medium-sized businesses. NCH Software enables effortless management of accounting journals and cash flow.

NCH Software even allows you to manage several currencies, which is ideal if your business is international.

Features and Pros

NCH Software has a lot of good features, including:

  • bookkeeping organization and financial analysis reports,
  • sales and accounts receivable,
  • multiple currencies support and automated integrated back-ups,
  • inventory management with Inventoria,
  • bank reconciliation.

Con

  • Limited to 2 users per account.
NCH Software© NCH Software

Odoo

Odoo

+200 reviews

The most complete modular ERP on the market
Learn more about Odoo

What is Odoo Software?

Odoo stands out as a comprehensive and modern accounting software, renowned for its automation and integration capabilities, which are especially advantageous for small and medium-sized enterprises.

Its strong points are its automation, integration of AI, and adherence to global financial regulations. Although a free version is available, businesses should thoughtfully assess their integration requirements, as there may be expenses for additional apps.

Features and Pros

Odoo offers many essential features:

  • automation and IA integration and automated follow-ups
  • mobile compatibility and real-time reporting,
  • high-speed operations and electronic invoicing (EDI),
  • deferrals and dynamic taxes combined to bank reconciliation and integration.

Con

  • Complexity and technical requirements.
Odoo© Odoo

QuickBooks

QuickBooks

+200 reviews

The world's leading accounting software for small businesses
Learn more about QuickBooks

What is QuickBooks?

QuickBooks is not a free accounting and invoicing software. Despite this, the software is suitable for both the simplest invoicing needs and the most advanced accounting needs for small to medium-sized companies.

More than free accounting software, it allows you to, among other things:

  • follow your cash flow,
  • pilot your commercial management,
  • carry out your bank reconciliation,
  • synchronize your accounts,
  • or track your payments.

The big plus of QuickBooks is that it has a lot of features. The software covers all the needs in invoicing and accounting while still being simple to use. The included customer service is efficient and responsive if you ever require support. The platform also offers help in getting started and very practical training.

Features and Pros

Here are QuickBooks’ features:

  • expense tracking and bill management online,
  • professional invoices, analytics and reporting,
  • inventory management and free mobile apps,
  • creating and filing 1099s for contractors.

Con

  • QuickBooks is not a free accounting software. However, for less than $15 per month, you gain access to accounting software, along with invoicing and cash flow monitoring tools. Plus, it brings a great deal of peace of mind!
QuickBooks© QuickBooks

Wave

Wave Accounting

+200 reviews

Accounting Software That Works as Hard as You Do
Learn more about Wave Accounting

What is Wave?

Wave is completely free, yet it offers as many features as paid software. It is one of the best free accounting software on the market. For example, it allows you to

  • Get bill reminders,
  • Track income and expenses,
  • Manage multiple companies from a single account,
  • Accept payments in foreign currencies.

Wave will link to your bank accounts, which are compatible with over 10,000 banks worldwide, to retrieve pertinent information, and you have the flexibility to add multiple accounts. Business health analytics provide a comprehensive view of your business activities by automatically generating reports. Additionally, it assists in comprehending cash flow origins and in selecting a budget.

Wave is typically easy to use and navigate, serving as a secure accounting software that instills confidence in managing a business. Embracing Wave's complimentary accounting software enables your business to gain a comprehensive understanding of the company's success.

Features and Pros

Wave has many good features that help you track your invoices and expenses seamlessly for free:

  • unlimited bank and credit card connections,
  • Tax tracking and data security,
  • cashflow management,
  • business health analytics,
  • balance sheet and financial statement management.

Con

  • The customer service is known to be less good than other software.
Wave accounting© Wave

ZipBooks

ZipBooks

+200 reviews

Smart and Simple Accounting Software
Learn more about ZipBooks

What is ZipBooks?

Free software is easy to use but lacks many features. Do you want something more extensive but still free? Let's try ZipBooks!

Like most free online accounting software, this software also provides small and medium-sized businesses with professional invoicing tools to edit invoices in just a few seconds. It also comes with an automated payment reminder tool.

ZipBooks is a solution that makes bookkeeping and accounting easy. This free software also helps make accounting management more fun thanks to its intuitive interface.

Features and Pros

Here are ZipBooks’ free features that make it different from other free software:

  • connecting different bank accounts,
  • transaction follow-up and business reports,
  • time and tax tracking,
  • vendor and customer management,
  • Client support and mobile app availability.

Con

  • No balance statement and COGs are lumped together on the Income Statement
ZipBooks© ZipBooks

Zoho Books

Zoho Books

+200 reviews

Intuitive Cloud Accounting Software
Learn more about Zoho Books

What is Zoho Books?

Zoho Books is a free accounting software that primarily targets small, medium, and large businesses. What makes Zoho Books special is that it is very customizable. To use it well, you have to go into detail and understand all the settings options.

Zoho is a free SaaS software, accessible from your web browser. You don't have to install any software on your computer, and you don't have to worry about hosting. Thanks to its numerous functions such as general accounting, cash flow monitoring, and balance sheets, this free software is one of the most efficient on the market.

Features and Pros

Discover all of Zoho Books’ free features:

  • expense tracking, customized invoices and online payment,
  • quotes automatically generated and converted into invoices at a glance,
  • bill, project and inventory management,
  • bank reconciliation and automated business workflows,
  • sales & purchase order confirmation.

Con

  • The design from one screen to another is not always consistent, and sometimes there is too much information displayed on a page.
    Zoho Books© Zoho Books

    Frequently Asked Questions (FAQ)

    Why Choosing a Free Accounting Software?

    Overall, accounting software help you streamline your process and prevent potential mistakes. To be more specific, here are some benefits of using a software:

    • time-saving,
    • key financial reports generation,
    • financial data synchronization,
    • data accuracy,
    • professional-looking financial statements,
    • simplified payroll,
    • detailed insights,
    • streamlined tax filing.

    How to Choose an Accounting Software?

    After looking through the best accounting software, you still can figure out which one is the best for your business… Well, there is no correct answer.

    The best software is the one that fits your needs and your company. Try to ask yourself these questions:

    • Is it what my business needs?
    • Am I skilled enough for a quite needy software?
    • How is this software rated?
    • Does the price fit my budget?

    What Are the Key Features to Look For in Accounting Software?

    Each software offers its pool of features, you can easily get lost while to tell what key features to look for.

    As our goal is to make your life easier, here are some key features you won’t be able to live without:

    • automatized invoicing and tax filling,
    • income and expense tracking,
    • user-friendly,
    • scalability,
    • integration with other software,
    • bank reconciliation,
    • efficient customer support.

    The more, the better! 💪

    When to Upgrade to Paid Accounting Software?

    Many free accounting software are available, but it might get limited as your business grows.

    Keep in mind that upgrading to paid accounting software will give you more powerful features and better storage. Don't worry about the price, there is a wide range of paid accounting software to choose from at a good price.

    Find out more with our comparison of top accounting software for small businesses! 🎁

    Our Final Words on The Best Free Accounting Software

    To choose your next free accounting software, it’s essential to evaluate your business needs beforehand. Keep in mind that if you don't want to suffer from the limitations of free software, there are powerful paid software packages available… and they're perfectly suited to small business budgets. Check out other accounting software and compare prices to find the one that will help you face all your challenges.

    🚀 Nowadays, there is a wide range of paid accounting software on the market, check out our comparison of the best accounting software for bookkeeping now!

    Finally, there isn't a single best free accounting software on the market. Each free solution has its pros and cons. Equipping free software has many advantages, but, it is important to understand what you need, the future of your company, and if you have the resources to purchase paid software.

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