The Best Free Accounting Software of 2024
- NCH: Best for financial analysis
- Zoho Books: Best for Zoho Books
- ZipBooks: Best for invoicing
- GnuCash: Best for Linux
- TrulySmall Invoices: Best for freelancers
- Wave Accounting: Best for ease of use
Best for Financial Analysis
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
Yes
Yes
Why We Picked It
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
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
Learn More
Read Forbes' Review
Yes
Yes
Why We Picked It
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
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
Yes
Yes
Why We Picked It
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
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
Yes
Yes
Why We Picked It
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
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
Customer portal
No
No
No
Why We Picked It
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
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
Learn More
Read Forbes' Review
No
No
Why We Picked It
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
| Company | Company - Logo | Forbes Advisor Rating | Forbes Advisor Rating | Best For | Time tracking | Customer portal | Learn More CTA text | Learn more CTA below text | LEARN MORE |
|---|---|---|---|---|---|---|---|---|---|
| NCH |  | 4.8 |  | Best for Financial Analysis | Yes | Yes | View More | ||
| Zoho Books |  | 4.7 | | Best for Zoho Users | Yes | Yes | Learn More | Read Forbes' Review | |
| ZipBooks |  | 4.7 | | Best for Invoicing | Yes | Yes | View More | ||
| Sunrise |  | 4.6 | | Best for Profit and Loss Statements | Yes | Yes | View More | ||
| GnuCash |  | 4.5 | | Best for Linux | Yes | Yes | View More | ||
| TrulySmall Invoices |  | 4.0 |  | Best for Freelancers | No | No | View More | ||
| Wave Accounting |  | 3.7 |  | Best for Ease of Use | No | No | Learn More | Read Forbes' Review |
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
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1
Xero
Starting price
Reg. Price: $15 per month; Special Offer: 75% off all plans for 3 months until February 13
Unlimited Users On All Plans
Yes
Free Trial
30 days
2
QuickBooks
Starting price
$15 per month (for the first 3-months, then $30 per month)
Free Trial
30 days
Key Features
Expert help, Invoicing, maximize tax deductions, track mileage
3
Sage
Cloud Financial Management
Yes
Multi-entity financial visibility
Yes
CRM, Payroll, POS Integrations
Yes
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.
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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 circ*mstances. 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.
