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Best Free Accounting Software

Updated: Sep 10, 2024, 11:19am
Katherine Haan
Katherine Haan
Katherine HaanContributor
Katherine Haan is a small business owner with nearly two decades of experience helping other business owners increase their incomes.
Read Full BioSee Full Bio
Written By
Katherine Haan
Katherine Haan
Katherine HaanContributor
Katherine Haan is a small business owner with nearly two decades of experience helping other business owners increase their incomes.
Read Full BioSee Full Bio
Contributor
Rob Watts
Rob Watts
Rob WattsFormer Managing Editor, SMB
With over a decade of editorial experience, Rob Watts breaks down complex topics for small businesses that want to grow and succeed. His work has been featured in outlets such as Keypoint Intelligence, FitSmallBusiness and PCMag.
Read Full BioSee Full Bio
Written By
Rob Watts
Rob Watts
Rob WattsFormer Managing Editor, SMB
With over a decade of editorial experience, Rob Watts breaks down complex topics for small businesses that want to grow and succeed. His work has been featured in outlets such as Keypoint Intelligence, FitSmallBusiness and PCMag.
Read Full BioSee Full Bio
Former Managing Editor, SMB
& 1 other
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.

Accounting software is a great way to manage your finances if you’re a small business owner, freelancer or contract worker. These solutions typically include features, such as invoicing, expense tracking and financial reports. While free accounting software won’t have all the bells and whistles of a paid version, it can still be a valuable tool for managing your finances.

To help you find the best free accounting software for your needs, we’ve compiled a list of our top picks. Forbes Advisor selected these solutions based on pricing, features, support, reputation and more.

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Table of Contents
Our Top Picks
Our Top Picks
Table of Contents
Table of Contents
Best of
Best of

Featured Partners

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1

Xero

Special Offer

90% off for 6 months

Unlimited Users On All Plans

Yes

Free Trial

30 days

1

Xero

Learn More

On Xero’s Website

2

Sage Intacct

Cloud Financial Management

Yes

Multi-entity financial visibility

Yes

CRM, Payroll, POS Integrations

Yes

2

Sage Intacct

Learn More

On Sage’s Website

3

Intuit QuickBooks

Special Offer

$17.50 / month; 50% off the first 3 months

Free Trial

OR experience QuickBooks risk free with a 30-day free trial

Key Features

Expert help, invoicing, maximize tax deductions, track mileage

3

Intuit QuickBooks

Learn More

On QuickBooks’ Website

The Best Free Accounting Software

Best for Financial Analysis

NCH

NCH
4.8
Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.

Time tracking

Yes

Customer portal

Yes

NCH

Yes

Yes

Editor's Take

If your small business has less than five employees, you can use the free version of NCH for your accounting software. The free version lacks some of the bigger features suitable for larger enterprises, but still has much to offer. Examples of financial statements you can generate include income statements, balance sheets, profit and loss (P&L) statements and sales analysis by item, customer and salesperson. Whether you run on a Mac or PC, this software is compatible.

Who should use it:

NCH free accounting software is best for small businesses that want to be able to generate various financial reports.

Pros & Cons
  • Free for companies with less than five employees
  • Easy-to-use software
  • Includes more than 20 financial reports
  • No bank connection
  • Paid users receive priority support

Best for Zoho Users

Zoho Books

Zoho Books
4.7
Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.

Time tracking

Yes

Customer portal

Yes

Zoho Books
Learn More Arrow
Read Forbes' Review

Yes

Yes

Editor's Take

Zoho is a comprehensive suite of business software and Zoho Books is its accounting component. The free version includes all the features you need to get your finances in order, including expense and mileage tracking, reconciliation, invoices and email support. One of its best features is that it can integrate with other Zoho products, such as Zoho CRM, making it a good choice if you’re already using other Zoho software for your business.

Paid plans start at $15 per month, billed annually, and offer features that include multiple users, bulk updates, timesheets and sales tax tracking. Learn more about what Zoho has to offer with our Zoho Books review.

Who should use it:

Zoho Books is best for small businesses that are already using other Zoho products and want to ‌integrate their accounting software for a seamless experience.

Pros & Cons
  • Track mileage
  • Integrates with other Zoho products
  • Customized invoices
  • Invoice limits
  • No phone or chat support

Best for Invoicing

ZipBooks

ZipBooks
4.7
Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.

Time tracking

Yes

Customer portal

Yes

ZipBooks

Yes

Yes

Editor's Take

While some of its competition limits the number of invoices you can send, ZipBooks free accounting software has unlimited invoicing. This makes it a good choice if your business relies heavily on invoicing for revenue. In addition to invoicing, you also get basic reports, vendor and customer management and digital payments through Square or PayPal. Paid plans start at $15 per month, and include features, such as auto-billing, reminders, time tracking and the ability to save invoice line items.

Who should use it:

ZipBooks free accounting software is best for businesses that need to send a lot of invoices, such as service-based businesses.

Pros & Cons
  • Unlimited invoicing
  • Accept Square and PayPal payments
  • Unlimited vendors and customers
  • No chat support
  • Need a paid plan to auto-bill customers

Best for Linux

GnuCash

GnuCash
4.5
Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.

Time tracking

Yes

Customer portal

Yes

GnuCash

Yes

Yes

Editor's Take

If you’re a Linux user, your choices for free accounting software are more limited. GnuCash is a good option that’s compatible with Linux, as well as Windows, BSD, Solaris and Mac. It includes features, such as bank account tracking, expense tracking, financial calculations and reports. While it doesn’t have as many extras with its small business features, it makes up for it in flexibility, with the ability to track stocks, commodities and other investments.

Who should use it:

GnuCash free accounting software is best for businesses that need to track investments and want software that’s compatible with Linux.

Pros & Cons
  • Compatible with multiple operating systems
  • Translated into many languages
  • Transaction matching
  • Has a steeper learning curve
  • User interface (UI) isn’t as clean as its competition

Best for Freelancers

TrulySmall Invoices

TrulySmall Invoices
4.0
Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.

Time tracking

No

Customer portal

No

TrulySmall Invoices

No

No

Editor's Take

If you’re a freelancer, you may not need all the features that come with more comprehensive free accounting software. TrulySmall Invoices is a good option for those who just need the basics. It includes data storage, invoice status tracking, automatic payment reminders and professional templates.

With TrulySmall Invoices, you can send invoices and estimates, accept digital payments and send automatic reminders and invoice status updates via a desktop platform or mobile app. This costs $8.99 per month or $89.99 per year.

Who should use it:

TrulySmall free accounting software is best for freelancers who need basic accounting features.

Pros & Cons
  • Ideal for small businesses and freelancers
  • Chat support
  • Works with multiple currencies
  • Very limited accounting features with a free plan
  • Need its paid TrulySmall Accounting plan for phone and email support

Best for Ease of Use

Wave Accounting

Wave Accounting
3.7
Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.

Time tracking

No

Customer portal

No

Wave Accounting
Learn More Arrow
Read Forbes' Review

No

No

Editor's Take

Wave Accounting free accounting software is one of the easiest to use, with an interface that’s similar to Mint. With Wave, you can track income and expenses, send invoices, track sales tax and create reports. Run multiple businesses from the same account, check your dashboard to see how business is doing and collaborate with unlimited partners and accountants.

Paid plans start at $16 per month and include features, such as invoicing, receipts, payment tracking and double-entry bookkeeping. It also has a feature called Wave Payroll that allows you to pay employees. Learn more about what it has to offer with our Wave Accounting review.

Who should use it:

Wave Accounting free accounting software is best for businesses that want an easy-to-use accounting software.

Pros & Cons
  • Clean UI
  • Cloud-based
  • Includes an invoicing app for iOS and Android
  • No support (only through a knowledge base or its bot)
  • American Express credit card processing fee isn’t as competitive

Forbes Advisor Ratings

Methodology

To determine the best free accounting software, we looked at a variety of factors, including features, customer reviews and value. We whittled down our options after assigning weighted scores to each feature, and then we ranked the companies based on those factors.

We prioritized features that are important for small businesses, such as invoicing, time tracking and expense tracking. We also looked at how easy the software is to use. Is it available on multiple platforms? Does it have a user-friendly interface?

We also looked at customer reviews to see what users are saying about the software. Often, marketing promises don’t always match reality, so reviews can help determine whether a software lives up to its claims.

Finally, we looked at the value of the service. While you’re not paying for it, you’re investing time in learning and using the software. Is it worth your time? When ranking the best free accounting software, we considered ‌these factors to help you find the best software for your business.

Featured Partners

Advertisement

1

Xero

Special Offer

90% off for 6 months

Unlimited Users On All Plans

Yes

Free Trial

30 days

1

Xero

Learn More

On Xero's Website

2

Sage Intacct

Cloud Financial Management

Yes

Multi-entity financial visibility

Yes

CRM, Payroll, POS Integrations

Yes

2

Sage Intacct

Learn More

On Sage's Website

3

Intuit QuickBooks

Special Offer

$17.50 / month; 50% off the first 3 months

Free Trial

OR experience QuickBooks risk free with a 30-day free trial

Key Features

Expert help, invoicing, maximize tax deductions, track mileage

3

Intuit QuickBooks

Learn More

On QuickBooks' Website

How To Choose Free Accounting Software

When choosing free accounting software, it’s important to consider your needs. What features are you looking for? Do you need time tracking? Invoicing? Customer support? Consider what’s important to you and your business, then find software that offers those features.

It’s also important to consider ease of use. Accounting software can be complex, so you’ll want to find something that’s easy to use and install or, better yet—it’s available in the cloud. Consider how user-friendly each software is as well as whether it’s available on multiple platforms.

Finally, consider customer reviews. What are users saying about the software? Are they happy with the features? Does it offer customer support to rectify any issues? Pay attention to both the positive and negative reviews to get a balanced picture of each software.

Frequently Asked Questions (FAQs)

What is accounting software?

Accounting software is a way for businesses to track income and expenses, send invoices, track sales tax and create reports. Some accounting software can also help track mileage or offer payroll.

Is free accounting software really free?

Free accounting software does not charge any monthly fees. However, some companies may offer paid plans that include additional features, such as invoicing or time tracking.

What features are important in free accounting software?

When looking for free accounting software, you’ll want to consider features that are important for small businesses, such as invoicing, time tracking and expense tracking. You’ll also want to find software that is easy to use and available on multiple platforms.

Do I need accounting software for my small business?

If you want to save time and money, then yes. Accounting software can automate many of the tedious tasks associated with bookkeeping, such as invoicing, tracking payments and preparing reports. This frees up your time so you can focus on running your business. Additionally, software can help keep your books in compliance.

Is accounting software secure?

Today’s leading accounting platforms offer standard security features that include secure credential tokenization, data encryption and more. While human error will always play some role in security breaches, you can be confident in your accounting platform when it comes to keeping your information safe.

Next Up In Accounting

Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. Past performance is not indicative of future results.

Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.
Katherine Haan
Katherine Haan
Contributor

Katherine Haan is a small business owner with nearly two decades of experience helping other business owners increase their incomes.

Rob Watts
Rob Watts
Former Managing Editor, SMB

With over a decade of editorial experience, Rob Watts breaks down complex topics for small businesses that want to grow and succeed. His work has been featured in outlets such as Keypoint Intelligence, FitSmallBusiness and PCMag.

The Forbes Advisor editorial team is independent and objective. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. This compensation comes from two main sources. First, we provide paid placements to advertisers to present their offers. The compensation we receive for those placements affects how and where advertisers’ offers appear on the site. This site does not include all companies or products available within the market. Second, we also include links to advertisers’ offers in some of our articles; these “affiliate links” may generate income for our site when you click on them. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Forbes Advisor. While we work hard to provide accurate and up to date information that we think you will find relevant, Forbes Advisor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof. Here is a list of our partners who offer products that we have affiliate links for.
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