Best Free Accounting Software in 2024

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. Another important consideration for accounting software is the security available. You get what you pay for, so you can’t really expect very strong security on a free plan. You will need to decide whether you can trust your financial data to the security offered by a free platform, which may require you to store this data in the cloud. An all-in-one business management platform, Odoo offers useful accounting features like invoicing and bill and expense management.

The program’s full suite of features is available for free — making it one of the few “one-stop-shop” solutions on this list. It also doesn’t have a comprehensive mobile application for its accounting features. The software’s features are flexible, allowing it to adapt to various business models and structures. It can handle different types of transactions, such as sales, purchases, expenses, payroll, and inventory management.

Simple, beautiful accounting software.

Microsoft Excel is a helpful tool to supplement your free accounting software by providing some of the missing accounting functions. Read our guide on how to use Excel for accounting to learn how to track invoices, bills, COGS, and inventory costs. ZipBooks is also a scalable option on this list—but it’s not as scalable as Zoho Books. Upgrading to ZipBooks Sophisticated can give you advanced accounting features, though not as advanced as Zoho Books Ultimate. However, you’ll receive a ZipBooks plan for free if you get the Simple Bookkeeping subscription for $125 per month or Multi-classifications Bookkeeping plan for $145 per month. Another benefit to Wave is that users now have the flexibility to upgrade to the paid plan once they outgrow the free version.

• At the same time, you can consider the benefits of making a small financial commitment to get even more from your accounting software.
• Unlike other free software like Zoho Books and Wave, Baselane doesn’t offer a mobile app.
• And as you’re getting off the ground, being able to invest in one might not be feasible.
• You’ll get unlimited expensing, income tracking, users, and customizable invoices.
• In comparison to Wave and Zipbooks, GnuCash was one of least intuitive platforms tested — the mobile support isn’t great, and the interface was pretty hard to navigate.

In addition, we employ a comprehensive editorial process that involves expert writers. This process ensures that articles are well-researched and organized, offering in-depth insights and recommendations. An excellent platform that is intuitively designed with excellent customer support. And while those upper-tier plans are reasonably priced, they’re obviously not what someone who wants a free plan is looking for.

The easy way to manage personal finances

After reading through this guide to free accounting software, it’s easy to be on the fence. On the one hand, you want the best for your business, and accessing the best accounting software possible could very well be worth it. On the other hand, pretty much nothing beats free, especially when you’re so keenly focused on your business’s finances.

• It offers resources that help you manage cash flow, track expenses, deal with invoicing, and set transaction categories.
• Kathy Haan, MBA is a former financial advisor-turned-writer and business coach.
• Wave Starter is our top choice because it offers many accounting features for free.
• Brightbook is a web-based accounting solution tailored to suit the needs of independent contractors, freelancers, and small business owners — though it tends to work better for the former two.
• Finally, having a digital record of all your profits and losses in a single accounting tool can save time and headaches when it comes to quarterly bookkeeping and tax preparation.

GnuCash is one of the older accounting software options on our list, but that doesn’t mean it’s outdated, at least when it comes to its features, which received generally favorable reviews from our research team. If you’re a Linux user, your choices for free accounting software are more limited. GnuCash is a good option that’s compatible free accounting software download 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.

GnuCash – Best for Simple, Standard Service

This means that Zoho Free won’t be suitable for businesses with high transaction volumes, and SMEs with serious growth plans should go for a paid plan. Zoho made its name with its CRM systems (check out our Zoho CRM review to learn more) but it has offered accounting software since 2011. Zoho Books’ free plan is the best overall choice for free accounting software, though things improve further if you pay out for a premium tier.