Are you struggling to manage your business finances manually?
Of course! You might be. If you have a small business, you might be getting off the ground with your budget and trying to avoid spending on unnecessary software. Right?
Accounting software is not at all unnecessary. It helps your business automatically monitor its expenses and profits. However, buying software for your small business can be expensive.
So, don't be overwhelmed! I have a solution for you.
This blog post will let you unveil the best free accounting software for small businesses like yours to manage business finances smoothly and freely.
Let us get into it.
Best Free Accounting Software for Small Businesses
I have curated completely free accounting solutions for your small business. The best part is that these platforms are absolutely free and possess diverse accounting features.
So, from now on, you don't have to pay monthly recurring bills to manage your business's accounts.
Let us find the best ones for you that meet your requirements.
1. Zoho Books
Zoho Books is a popular accounting software for small businesses. It offers diverse plans to suit varying needs alongside its free version.
With six options, including a free plan, Zoho Books allows up to 1,000 invoices annually. It stands out for its scalability.
The free plan includes standard accounting features, while upgrades offer additional users, invoices, and advanced functionalities like billing, payroll, purchase orders, custom reporting, and more.
Zoho Books is a flexible and comprehensive solution for small businesses seeking to control their finances effectively.
Key Features
Customized invoicing
Customer Portal
Tracks outgoing money
Monitor inventory level
E-invoicing
Manage GST
Audit trail
Automation
Schedule reports
Pros
Mobile app for Android, Mac, Windows
Streamline transactions
Compliance-driven
Supports ten languages
The free plan supports diverse features
Cons
Only supports one user plus one accountant in a free plan
Each of the plans can accomodate only 15 users
Pricing Plans
Free Plan:
Standard: $8.98/month
Professional: $17.98/month
Premium: $35.97/month
2. Wave Accounting
Wave accounting software offers a comprehensive suite of money management tools. It is designed to empower small businesses.
From creating professional invoices to accepting online payments and simplifying accounting tasks, Wave provides a user-friendly dashboard tailored for small business owners.
With Wave, you can stay organized year-round. It ensures a stress-free tax season. The software also provides a holistic view of business health, accessible from anywhere.
Additionally, Wave offers support from an in-house team of bookkeeping, accounting, and payroll experts. It thereby provides peace of mind and ensures businesses have the tools and guidance they need to succeed financially.
Key Features
User-friendly dashboard
Organized reports
Provides business health report
Accompany with in-house coaches
Pros
Unlimited bank connections
One-click payments
Free plan available
Personalize invoices
Seamless monitoring of cashflow
Cons
No third-party integration
Lacks features for scaling business
Need to upgrade for human customer support
Pricing Plans
Starter Plan: $0
Pro Plan: $16/month
3. ZipBooks
ZipBooks is straightforward accounting software designed to enhance business acumen. It is a popular free accounting software for small businesses.
Its simplicity, elegance, and robust features empower you to elevate your business operations efficiently.
With ZipBooks, you can work smarter, not harder. It streamlines book balancing and effortlessly provides insightful analytics.
ZipBooks is also a straightforward bookkeeping software that simplifies accounting tasks like never before. It features auto-categorization, a unified transactions interface, and user-friendly reports.
Its data-driven intelligence goes beyond traditional historical reports, offering automation, predictive analysis, and valuable advice.
The actionable insights derived from millions of data points enable you to make informed decisions and implement small changes with significant impacts. ZipBooks is your ally in optimizing business performance and achieving success.
Key Features
Simple and straightforward accounting solution
Supports one-time and recurring billing
Data-driven reports
Automated expense tracking
Seamless invoicing
Dead-simple reconciliation
Pros
Offers free plan
Ease of use
Unlimited vendor management
Allows direct integration with PayPal and Square for payment
Cons
Human customer support is not available in the free plan
Only one user is allowed in the free plan
Do not create automated payment reminders in the free plan
Pricing Plans
Free: Free Plan
Smarter: $15/month
Sophisticated: $35/month
Accountant: Custom Pricing
4. ProfitBooks
ProfitBooks is another free accounting software for small businesses. It stands out due to its exceptional inventory management features. It is the best free accounting software for small businesses, especially for managing inventory.
Unlike many free options, ProfitBooks offers tools for managing suppliers, warehouse and manufacturing inventory, and purchase orders.
Additionally, it supports typical accounting tasks like recording expenses, creating and tracking invoices, and generating reports. Its robust inventory management capabilities truly distinguish it from competitors.
Key Features
Simple to use
Best online accounting software
Monitor expenses
Manage inventory
On-time tax filling
Create receivable & payables
Manage taxes
Deals in multiple currencies
Pros
100% free accounting software
Over 45 financial reports
Create sales order
Maintains positive cash flow
Creates professional invoices
Best bookkeeping solution
Cons
Supports only single user in the free plan
The free plan supports only 25 invoices per month
Allows payment using PayPal only
Pricing Plans
Starter: Free Forever
SMB: $20/month
5. BrightBooks
BrightBooks is a comprehensive bookkeeping solution for small business owners, freelancers, and contractors.
It combines all the essential features in one unified platform. It allows you to produce and send professional invoices in any currency, track bills, and focus more on your passions.
BrightBook's user-friendly approach to accounting makes it accessible and enjoyable for everyone.
By simplifying bookkeeping tasks, BrightBooks saves time and enhances the overall experience. Being an online platform, it offers the flexibility to use it anytime and from anywhere. It thus provides a complete view of your business's financial health.
With BrightBooks, you get instant insights into your financial status, outstanding payments, debts, and cash flow. It encourages you to prioritize what matters most—getting paid and growing your business.
Key Features
Free accounting platform for freelancers and small business owners
No prior accounting knowledge is required
Open-source accounting software
Intuitive user experience
No credit card is required
Pros
Easy to use
Seamless interface
Supports unlimited users per account
Allows sending unlimited invoices
Cons
Do not support double-entry accounting
The hassle of importing bank statements manually
Pricing Plans
Free to use
6. Odoo
Odoo accounting software simplifies invoicing and online payments. It is another reliable free accounting software for small businesses.
Odoo offers a professional touch to your business interactions. It tracks invoice progress and automates reminders for timely payments.
Additionally, Odoo monitors point-of-sale transactions, expenses, and inventory seamlessly. Oddo is an all-in-one accounting app for small businesses and freelancers.
The software is free for a single user. However, it has options to upgrade for additional users. For businesses seeking scalable and free accounting software, Odoo stands out as a top choice.
Key Features
Modern accounting software
Snappy interface
Free trial available for paid plans
Advanced AI-powered invoice generation
Mobile friendly
Banks reconciliation
Real-time reporting
Automated follow-ups
Pros
Free forever
Process operations in less than 90 milliseconds
Unlimited users
Regular testing
Cons
Live customer support is offered only for database emergencies
Pricing Plans
One App Free: $0
Standard: $6.96/user/month
Custom: $10.67/user/month
7. GnuCash
GnuCash is an open-source accounting software that is the best similar to Odoo. It suits best for businesses that want flexibility and customization options for tech-savvy users or teams comfortable with coding.
As an open-source solution, you can customize the source code to fit your business needs, provided you have coding knowledge.
You can use the software to manage income and expenses and generate reports effectively. GnuCash's open-source nature allows for a personalized approach to accounting. This makes it a viable business software for those who prefer to own and customize their data.
Key Features
Double entry accounting
Supports Stock/Bond/Mutual Fund Accounts
Simple accounting process
Small business accounting software
Scheduled transactions
Easy customization of display style
Offers full-suite of standard reports
Account reconciliation
Pros
Supports multiple currencies
Track stocks individually and in group
Display business accounting reports in Pie chart, Bar chart, or Scatter plot
Open source software
Cons
Multiuser access is not allowed
The user interface is untraditional
Lesser automation options
Pricing Plans
Free to use
8. Manager
Manager is a standout desktop accounting software for Windows, Linux, and Mac. It provides a unique alternative to cloud-based tools. This makes it an ideal solution for businesses preferring offline work.
The manager is accessible on Windows, Mac, and Linux. It is a free, full-featured accounting solution that helps multiple companies generate their unlimited invoices.
This software has a comprehensive suite of accounting features, including sales quotes, billable time tracking, and inventory management. It caters to diverse business needs.
Manager also includes a wide range of reporting options such as profit and loss statements, aged receivables, and balance sheets. It helps you gain invaluable insights into your financial performance.
Key Features
Full-featured accounting
Free desktop accounting software
Allows working offline
Cross-platform
Supports universal database format
Pros
Unlimited invoices
Seamless email support
Smooth report analytics
Cons
The user interface is not modern
Upgradation to the cloud edition is required for multiple-user support
import bank statements manually
Pricing Plans
Free forever
9. Akaunting
Akaunting offers free online accounting software for small businesses that are looking to manage their finance.
Akaunting showcases the simplest way of invoicing, monitoring expenses, and accepting online payments. The software is always completely free.
It provides you with a range of features including open-source accounting, secure deposits and transfers, vendor management, and robust reporting capabilities.
However, accessing some advanced features may require downloading multiple third-party apps, which might involve additional costs.
Despite this, Akaunting remains a valuable option for small businesses seeking a comprehensive and cost-effective accounting solution. It's worthwhile to choose free accounting software, Akaunting, as your go-to solution for managing finances.
Key Features
Supports unlimited bank and cash accounts
Easy sharing of invoices
Bulk payments
Manage multiple companies' finances from a single admin
Free
Open-source
Detailed financial reports
Pros
All-in-one platform
Batch mode
Supports unlimited attachments
Supports multi-currency
Easy-to-use interface
Mobile-ready interface
Multillingual client portal
Cons
Complicated setup and installation
Switching to the cloud needs more technical knowledge
Pricing Plans
On-Premise: Free
Cloud: $8/month
10. Cloud Books
CloudBooks is a free software designed for managing invoices and accounts. This free accounting software is best for freelancers and small businesses.
With CloudBooks, you can easily send estimates and invoices, accept payments, and track expenses. This eventually streamlines your financial management processes.
It's important to note that the free version of CloudBooks allows you to send up to five invoices per month to one customer. For unlimited invoices and additional features, you can upgrade to the paid version.
CloudBooks offers a user-friendly interface with features like professional invoice creation, estimating, expense logging, time tracking, and efficient billing of clients.
Its templating system allows you to choose themes, customize invoices, add logos, and personalize emails. This makes it seamless to produce professional-looking documents and streamline communication with clients.
CloudBooks covers all the necessary features to keep your books intact and run your business expenses smoothly.
Key Features
Provides a 360-degree view of your business
User-friendly interface
Easily monitors your expenses
Keep a note of billable hours
Supports multiple users
Accepts online payments
Pros
Allow personalizing your emails
Send payment reminders
Accepts multiple currencies
Supports unlimited users
Free cloud storage
Cons
Customer support is a bit daunting
The team plan supports only five users
Pricing Plans
Team Plan: $9.99/month
Agency Plan: $19.99/month
Lifetime Plan: $999
11. Freshbooks
FreshBooks is a versatile accounting and bookkeeping software suitable for businesses of all sizes.
It offers a 30-day free trial and a limited-time deal with 70% off for the first four months. All subscriptions come with unlimited expenses and estimates, providing flexibility for users.
FreshBooks supports iOS and Android apps, client account portals, and automated bank imports for seamless financial management.
Freelancers and small businesses benefit from checkout links. It allows them to get paid without traditional invoicing.
Furthermore, FreshBooks enables companies to schedule late fees, generate business health reports, and track mileage. It thus enhances overall business efficiency and financial oversight.
Key Features
Flexible software
Ensures accuracy
Double-entry accounting
Up to Data insights for decision-making
General Ledger
Balance sheet
Accounts payable
Advanced Accounting
Pros
Offers Android and iOS apps
Bookkeeping tools
Automated bank reconciliation
Keep bills organized
Supports importing directly from a bank account
Cons
A bit expensive
Pricing Plans
Lite: $5.70/month
Plus: $9.90/month
Premium: $18.00/month
Select: Talk to Sales
Frequently Asked Questions
Yes, there are several good free accounting software options available, such as Wave, Manager, and Akaunting, each offering various features tailored for small businesses and freelancers.
Yes, Zoho Books offers a free plan for accounting software, which includes basic features like invoicing and expense tracking. However, additional features and users may require a paid subscription.
The best free accounting app depends on your specific business needs and preferences. Some popular options include Wave, Zoho Books, Manager, and Akaunting, each offering different features and functionalities tailored for small businesses and freelancers. It's recommended to explore these options and choose the one that best suits your requirements.
There are several accounting software options available without a monthly fee. Some of these include Wave, Manager, Akaunting, GnuCash, and CloudBooks (with limitations on the free version). These software options typically offer basic accounting features for free, with the option to upgrade for more advanced features or additional users.
Verdict: How to Choose Free Accounting Software
Some of the factors to keep in mind while selecting accounting software include:
Ease of use
Pricing
Robustness in the features
Scalability
These features will offer you visual precision in your decision-making process. Moreover, opting for the right software also depends on the size of your business and what features you prioritize the most.
Hence, the above-curated accounting software are described with its features and possibilities. Choose the best one for your need to manage all your business finances on a unified platform. Thus, streamlining your overall growth.
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