Free Accounting Software For Small Businesses

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Beginning your business with free accounting software can significantly reduce operational expenses. Whether you’re a small business owner, a freelancer, or a contractor, free accounting software has dominated Excel and Google Sheets for managing finances due to its extra, more business-oriented features

Invoicing, expense tracking, and financial reporting are just the start of the wide range of features included. But which company offers the most perks and, therefore, the best? We have got your back.

Geekflare team has carefully picked 11 free accounting software products, considering many factors. These include support, reputation, scalability, ease of use, and integration with other businesses.

  • Wave – Best Overall
  • – Best for Small to Midsized Businesses
  • Odoo – Best for Midsize to Large Businesses
  • Zoho Books – Best for Online Accounting
  • ZipBooks – Best for Simple Invoicing
  • GnuCash – Best Open-Source Accounting Software
  • Baselane – Best for Landlords and Rentals
  • Akaunting – Best Free Accounting Software
  • BrightBook – Best For Basic Bookkeeping
  • NCH Express Accounts – Best For Small Business Invoicing
  • ProfitBooks – Best for Indian Businesses
  • Show moreShow less

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Wave is our pick for the best overall accounting because of its intuitive interface and the ability to create unlimited estimates, invoices, bills, and bookkeeping records. Founded in 2010, this US-based accounting software company has helped over 4 million users across 200 countries.

Wave is a cloud-based software that provides access to data from anywhere and manages various business accounts from a single login.

Why did we choose Wave Software?

Wave emerges as the best choice for small businesses since it includes various free accounting features. The platform has a minimalist and smart dashboard that organizes your income, expenses, payments, and invoices. It includes various tabs, launchpads, sales, payments, purchases, accounting, and banking.

Wave has a mobile-friendly app that allows users to send and receive invoices and track expenses on the go. However, It is not scalable due to the lack of features such as inventory management.

Wave Transaction Fee

– Visa, Mastercard, Discover: 2.9% + 60¢

– Amex: 3.4% + 60¢

Wave Pricing

Plan Pricing (monthly) Offerings
Starter Plan $0 Create unlimited estimates, invoices, bills, and bookkeeping records, Invoice on-the-go via the Wave app
Pro Plan $16 Option to accept online payments at a discounted rate, Auto-import bank transactions, Automate late payment reminders
  • Bank Reconciliation


  • Multi-Currency Support


  • Report Types

    P&L, Balance Sheet is an Australian-based accounting software that was founded in 2011. is known for its free desktop version and offers multiple features like invoicing, expense management, bank reconciliation, reporting, and multi-currency support without any usage limits. It’s perfect for businesses that do not use mobiles and tend to work on a single desktop.

Why did We choose’s limited set of features makes its free version a perfect choice for freelancers and small businesses. The free version is intuitive, user-friendly, and secure since it’s on-premise.

To add to this, you have the flexibility in setting up the charts and enabling or disabling the modules for a more streamlined experience. Another major benefit is that proposes multiple currencies and configurations to choose multiple countries.

In addition, the free version can later be scaled up to a paid cloud version or a self-hosted plan that comes with a free trial and, soon, be purchased with a product key.  Both versions provide access to pro features like remote access, multi-user accounts, and extensive customer support.

Odoo is an open-source accounting tool that was founded in 2002 by Fabien Pinckaers and boasts a large community of over 12 million users. It comprises a vast tech stack to build an ecosystem of business software that integrates seamlessly. Furthermore, Odoo’s modern dashboard brings various functionalities to your fingertips, including cash flow reports, invoice management and bank reconciliation.

Why did We choose Odoo?

Odoo is among our top picks for its customization option and flexibility to add or remove tabs from the dashboard. Regulatory compliance is at the core of this platform, aligning with different countries’ requirements, such as the United States GAAP principles.

The ability to add various users, manage multiple countries and currencies, and integrate with other tools just adds to its scalability.

In conclusion, Odoo’s functionalities aren’t just great for small businesses but are perfect for medium to large-sized businesses.

  • Disadvantage

    Only one app is free for one user – accounting, invoicing, or payroll.

  • Disadvantage

    Customer support is available only through email and only on weekdays.

Odoo Pricing

Plan Pricing (monthly) Offerings
One App Free $0 For one app only, unlimited users
Standard $31.10 All apps
Custom $46.80 All apps, Odoo Studio, Multi-Company, External API

Zoho Books is a renowned name in the list of accounting software, whose free version is limited to businesses with $50,000 in revenue. Features include robust accounting capabilities like expense and mileage tracking, reconciliation, invoices, and email support.

Founded in 1996, this India-based organization is best for Indian startups and solopreneurs who are already using other Zoho products. Zoho Books currently has more than 13,000 active users, while Zoho has over 80 million users worldwide.

Why did We choose Zoho Books?

Zoho Books is one of the most straightforward online accounting software products that helps businesses manage their finance, automate transactional workflows, and handle accounting tasks right from the cloud.

Zoho extends its usability to various countries by compiling with tax regulations such as sales tax in the USA and 1099 tax.

Also, the Zoho mobile app is free to use for both iOS and Android users and offers various features, such as sending invoices, entering bills, and receiving payments.

As a result, Zoho Books is also perfect for its scalability. Scale as you need and add additional users to the existing plan at $3 per user per month.

Zoho Books Pricing

Plan Pricing Offerings
Free $0 Create invoices, quotes, expenses & journals, Mileage Tracking, Setup recurring invoices, Automate payment reminders
Standard $20 Track Sales Tax, Generate divisional reports with reporting tags, Setup recurring expenses, Create journal templates, API Access
Professional $50 Manage vendor bills and payments, Track sales and purchase orders, Record multi-currency transactions, Analyse project profitability, Track inventory
Premium $70 Manage budgets, Cashflow forecasting, Enable self-service vendor portal, Create business-specific custom modules, Create custom field validation rules

ZipBooks is a cloud-based accounting and bookkeeping software that is not even a decade old but has garnered over $250K in revenue. This Utah-based software is the best we recommend for creating and sending invoices, with the ability to set automated payment reminders.

The free plan covers all the accounting functionality – reports, bank syncing, billing, expense management, and invoicing.

Why did We choose ZipBooks?

We recommend ZipBooks as the best solution for creating invoices. Users can send an unlimited number of invoices using pre-made templates and add them to expenses when they are paid.

ZipBooks is a great option for freelancers, consulting firms, construction companies, etc., that rely heavily on sending invoices.

In closing, the Geekflare team thinks that Zipbooks is most beneficial for businesses in the US and Canada because of features like 1099 tracking and bank account connections. However, the bank connection feature is limited in Europe, Asia, and Africa.

ZipBooks Pricing

Plan Pricing (monthly) Offerings
Starter FREE Send unlimited invoices, Manage unlimited vendors & customers, Accept digital payments (Square or PayPal), View Basic Reports, Connect 1 bank account
Smarter $15 Unlimited recurring invoices with auto-bill, Invoicing saved items & inventory, Advanced bookkeeping & accounting, Basic intelligence, Time tracking
Sophisticated $35 Smart tagging to track by location, project, and custom labels, document sharing, Easy bank reconciliation, Advanced reporting, Advanced Intelligence
Services $125 A ZipBooks Scholar (your personal bookkeeper) prepares and sends monthly reports, Company tax savings analysis & recommendations

GnuCash is a solid open-source accounting software that allows small business owners to record their income and expenses and run basic reports. It offers well-off double-entry accounting resources, a checkbook-style register, and a customizable reporting feature.

Why did We choose GnuCash?

GnuCash is on our list because of its open-source nature and its flexibility to customize the source codes. For instance, users can customize the appearance and the display style, GUI to create custom check layouts, and set scheduled transactions.

Also, features like customer and vendor tracking, jobs, invoicing and bill payment, and tax and billing terms are free to use.

  • Bank Reconciliation


  • Multi-Currency Support


  • Report Types

    P&L, Cash Flow

Founded in 2020, Baselane is a US-based rental-specific accounting software for independent real estate contractors and landlords that simplifies rent collection and finance management. Baselane’s bookkeeping tool includes capabilities to track income and expenses for simplified tax preparation.

Baselane charges 2.99% for each rental transaction. It also charges some yearly interest on the online bank account.

Baselane is a top rental accounting software for its low fees and secured environment for rental transfers. Features like AES-256 encryption, tokenization, and SAML SSO Account Protection make it secure for both landlords and tenants alike. Though there is no integration option, Baselane supports payment through Apple Pay and Google Pay.

Payments are deposited within 2-5 business days, and the receipt is shared through mail. Baselane has various positive reviews on public forums like Capterra (4.8 out of 5) and Trustpilot (4.0 out of 5).

  • Bank Reconciliation


  • Multi-Currency Support


  • Report Types

    P&L, Tax, Balance Sheet, Cash Flow

FREE (Self-hosted)

Akaunting is another open-source accounting software for SMEs. This free small business accounting software offers a full suite of accounting features – manage cash flow, track expenses, deal with invoicing, and set transaction categories.

Founded in 2017, this Turkey-based solution operates in over 100 countries with a user base of over 200k users globally. Akaunting empowers the business with various solutions, including expense management, online accounting, inventory management, CRM, stock prediction, and payroll management.

Why We Chose Akaunting?

Akaunting stands out for its extensive set of tools for invoicing, expense tracking, and accounting. Along with these features, the platform boasts of its multiple currencies and muti-region access.  Akaunting is secured by two-factor authentication (2FA) that safeguards against privacy leaks. The open-source nature allows the customization of the dashboard and widgets.

Akaunting follows regulatory compliance in accordance with the various taxation laws.

Akaunting scales with the addition of new features and when you require multiple users. The pricing plans are affordable and a perfect choice for small businesses and freelancers.

  • Advantage

    Accessible on desktops, tablets, and mobile devices.

  • Advantage

    Supports all operating systems, including Linux (CentOS Linux and CentOS 7), Windows (10,11), and Mac OS X.

  • Advantage

    Available in 50+ languages, including Spanish, German, Chinese, and more.

Akaunting Pricing

Plan Pricing (monthly) Offerings
Standard Cloud $12 1 Company, 1 User + 1 Accountant, 1,000 Invoices, 4 Apps Included, Ticket Support, Multiple Currencies
Premium Cloud $36 10 Companies, 10 Users, 10,000 Invoices, 10 Apps Included, Double-Entry, Expense Claims, Client Portal
Elite Cloud $84 30 Companies, 30 Users, 30,000 Invoices, 30 Apps Included, Estimates (Quotes), Payroll, Inventory, CRM, Receipts
Ultimate Cloud $218 Unlimited (Companies, Users, Invoices), All Apps Included, Budgeting, Credit & Debit Notes, Sales & Purchase Orders, Point of Sale (POS)
  • Bank Reconciliation


  • Multi-Currency Support


  • Report Types

    P&L, Tax Reports

BrightBook is a web-based, free bookkeeping tool that is the best alternative to expensive paid services. Headquartered in London, BrightBook started back in 2009 and serves more than 120 countries.

Its specialization in bookkeeping capabilities makes it perfect for financial planning, payroll services, audits, and fixed asset management.

Brightbook aims to democratize accounting software with a full range of features – invoicing, visibility into your cash flow, financial reporting, and drafting financial statements. BrightBook is 100% free to use. Additional features are available on request and cost extra.

Why We Chose BrightBook?

We chose BrightBook for its specialization in basic bookkeeping services, audits and fixed asset management. Security features include Firewall, Network, and Server Security for comprehensive data security, a paranoid login feature for random password generation, and an SSL certificate for banking.

Brightbook accepts online payments through PayPal. So, it is a good choice for small businesses that need enhanced security with banking, budgeting, accounting, and invoicing.

  • Bank Reconciliation


  • Multi-Currency Support


  • Report Types

    P&L, Tax, Balance Sheet

NCH Express Accounts is a free invoicing software for small businesses in the list that’s the perfect alternative to GnuCash. The free version of NCH Express is a viable choice for businesses with five or fewer employees. Owned by NCH group in 1993, this Australian firm specializes in various software types.

The free version of NCH Express offers the following features that satisfy small businesses’ or freelancers’ needs.

Why We Chose NCH Express?

NCH Express accounts are only suitable for small businesses with the set of features they offer. The customization capabilities allow you to customize the printed quotes, orders, invoices, and reports. The on-premise software provides a backup of the software and restores it when you need it.

It offers extended functionality for small businesses that include loans, mortgages, debt consolidation, and more.

NCH Express Accounts Pricing

Plan Pricing (monthly) Offerings
FREE Plan $0 Use by less than 5 users
Express Accounts Basic $129 Standard Edition
Express Accounts Plus $159 Fully featured, single installation license
  • Bank Reconciliation


  • Multi-Currency Support


  • Report Types


Founded in 2012, ProfitBooks is India’s most popular accounting software, with over 70,000 users in the country. ProfitBooks is specifically designed for Indian business individuals, including self-employed professionals, traders, wholesalers, and small manufacturers.

Features include expense tracking, invoicing, record bookkeeping, and inventory management.

Why We Chose ProfitBooks?

ProfitBooks makes it into our list of free small business accounting because of its power-packed features. The platform offers secure data transfer over 256-bit HTTPS encryption and an SSL certificate by COMODO. It complies with tax regulations from various countries – GST in India, VAT in UAE and more.

Businesses can pay using credit cards, debit cards, net banking (India), American Express, and even PayPal. Businesses can seek assistance from expert accountants.

ProfitBooks Pricing

Plan Pricing (monthly) Offerings
Startup $0 Supports Single User, Create Upto 25 Invoices Per Month, Manage Upto 100 Customers, Track Upto 25 Products or Services
SMB $20 Supports Unlimited Users, Create Unlimited Invoices, Manage Unlimited Customers, Track Unlimited Products or Services

Free Accounting Software For Small Businesses Comparison Table

The table below provides a comparison of pricing, ratings, and other important features of the free accounting software.



Stripe, PayPal, Square



Adyen, Razorpay, PayPal

Zoho Books

Zoho Books



Square, PayPal









NCH Express Accounts

NCH Express Accounts

PayPal, Eway, Authorize.Net



Instamojo, CashFree

Why do small businesses need free accounting software? 

Here are the benefits of free accounting software for small businesses. : 

  • Cost-efficient: There is no hidden or upfront fee for using free accounting software. While you might need to upgrade to a paid version as your business grows, using a free version saves you from hiring accountants or purchasing hard drives to keep the record. 
  • Ensures transparency: Businesses can gain complete transparency into their cash flow with features like transaction categorization, seamless invoice management, automated payroll processing, and integrated online banking. 
  • Reduced human errors: Accounting software eliminates potential human errors that occur in manual data entry, financial calculations, or missed transactions to bring better outputs. Free accounting software is a better alternative to using spreadsheets for managing finances.
  • Saves time: A full suite of accounting tools reduces the hard work and saves time by automating the workflow and performing repetitive tasks within seconds. For instance,  recurring invoices can be scheduled, eliminating the need to generate them manually. 
  • Data security: A dedicated cloud or on-premise software keeps track of your old data so that you can recover it anytime. It also safeguards sensitive data with features like 2FA, SSL, and more. 

How to choose Free Accounting Software?

To choose a free accounting software, ponder these points: 

  1. Assess Your Needs: Know what your business demands. For instance, whether you are too focused on invoicing or on accounting. It is also important to consider the size of your business and the complexity of tasks. 
  2. Compatibility: Consider whether you need an on-premise or a cloud service. For the on-premise, make sure that the software is compatible with your desired operating system (Windows, Linux, or Mac). 
  3. Security and data protection: Accounting software should offer essential security features like 256-bit data encryption, 2FA, free SSL certificates, and firewalls. 
  4. Compliance and regulations: Ensure that your accounting software complies with regulations in various countries and abides by the regulatory laws and terms. 
  5. Ease of use: It is imperative to look for an intuitive user interface. Even those with no accounting knowledge should easily adapt to the software. 
  6. Integration options: Check if these tools offer integration with third-party tools of various types. For example, Odoo integrates with multitudes of third-party tools – eCommerce, checkout cart, CRM, and others. 

What is the best Free Accounting Software for personal use?

NCH Express Accounts is the best free accounting software for personal use since the features are suitable for non-commercial purposes. NCH clearly mentions on their site – “If you will be using Express Accounts at home, you can download the free version.

 Its intuitive interface makes it a viable choice for individuals who are beginners in accounting. In the free plan, NCH covers most of the features that we think suffice the needs of personal accountants: 

  • Supports both operating systems – Windows (all versions) and Mac 10.5 and above. 
  • Detailed view into your business finances and transactions
  • Balance sheet to show current assets and liabilities
  • General journal feature to track and review all the financial entries
  • Send reports to accountants via email or fax. 

Besides these features, NCH covers a wide range of free tools and works in tandem with Express accounts, such as POS software, PDF editor, Flowchart designer, staff and productivity app, and personal finance software. 

What is the easiest Free Accounting Software to use?

As per our findings, Wave Accounting is the easiest free business accounting software that offers a clean and intuitive interface. The main screen gives a clear picture of every task, including cash flow graphs, overdue and invoiced bills, bank accounts, profit and loss reports, and more. 

We also really liked the ease of sending and managing the invoices. Users can pick from a range of templates and customize the invoice using branding features. We also loved that it automates the statement import from the connected banks. 

The reports are well-laid and give clarity on the transactions – what’s going in and what’s going out. Inviting your accountants and giving them access is simplistic and free. 

All in all, we would rate Wave as the easiest accounting software that’s loaded with easy-to-use features and clear tabs. 

Is Free Accounting Software as good as paid software?

No. Free accounting software is not as good as the paid software. While most free software allows one user access, the paid version gives multiple user access. Most free versions offer core features that are suited for small businesses and freelancers but are not suitable as they scale. 

The free accounting software has restrictions on various features like the number of invoices, reporting capabilities, customer support, customization, and more. 

With Paid accounting software, features like inventory management, multi-currency support, advanced reporting, and priority customer support are included. The paid versions also offer more integration options with third-party tools. 

That doesn’t make free accounting software an invaluable asset. Free accounting software is good if you need core features and have fewer requirements (fewer invoices, single users, and reporting). 

That said, free accounting tools are good for small businesses that are starting out, saving you a good amount of money. 

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