Last updated: January 6, 2023
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Overview: The best free accounting software

Number 1: Wave

ProductWave
Website:https://www.waveapps.com/accounting
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When everything is neatly where it belongs, tax time is simple and easy. Wave’s smart dashboard organizes your income, expenses, payments, and invoices.

The program is one of the sounder, more robust free accounting applications available, and it’s scalable enough to accommodate everyone from independent contractors to sole proprietors to small business owners.

It’s an accessible, intuitive program that doesn’t require much training to understand. Wave also offers Its entire suite of accounting features for free including unlimited income and expense tracking, and a lot more.

AdvantagesDisadvantages
Simple, reliable, and secure.No comprehensive mobile application.
Unlimited bank and credit card connections.Can’t track accounts payable.
Exportable accounting reports.

Number 2: ZipBooks

ProductZipBooks
Website:https://zipbooks.com
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ZipBooks is a web-based financial software with an intuitive suite of accounting features. With its simple, beautiful, and powerful suite, ZipBooks gives you the tools and intelligence to take your business to the next level.

The company offers a free plan (ZipBooks Starter), an option that includes basic bookkeeping functionality, along with profit, loss, and balance sheet reporting.

It also covers certain invoicing and quote-related bases and payments via credit card or PayPal is accepted. You can only link one bank account and view basic reports with its starter option. 

AdvantagesDisadvantages
Ability to manage unlimited vendors.Only lets you view basic reports.
Accepts digital payments via Square and Paypal.Only allows you to connect one bank account.

Number 3: GnuCash

ProductGnuCash
Website:https://www.gnucash.org
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GnuCash is a free, and open-source accounting solution that can be downloaded for Windows, Linux, and Mac OS X. Designed to be intuitive, yet powerful and flexible, GnuCash allows you to track bank accounts, stocks, income, and expenses.

As quick and easy to use as a checkbook register, it is based on professional accounting principles to ensure balanced books and accurate reports. It also offers double-entry accounting resources, a checkbook-style register, scheduled transactions, and customizable visual reporting.

AdvantagesDisadvantages
Works on a variety of operating systems.Interface isn’t visually appealing.
Can handle internationalized dates and currencies.No customer support.
Budget management tools can help plan financial strategy.Installation is less straightforward than most other platforms.

 


Number 4: CloudBooks

ProductCloudBooks
Website:https://www.cloudbooksapp.com
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CloudBooks offers a program with a free accounting and invoicing solution tailored to accommodate small businesses and freelancers. The program has a suite of capabilities that cover invoicing, time-tracking, reporting, and it comes with Stripe and Paypal already integrated for you.

Just set up your preferred payment gateway and start accepting payments online and instantly increase your cash flow. With their templating system, it’s simple to choose a theme, build and customize invoices, add your logo and personalize your emails.

AdvantagesDisadvantages
Offers a free cloud data storage.Lacks phone or chat support.
Upgraded plans are reasonably priced.Only lets you bill one client.
Allows unlimited users.Caps your number of invoices at five.

Number 5: Lendio

ProductLendio
Website:https://www.lendio.com/small-business-software
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Lendio offers a free, self-service plan that provides businesses with a decent suite of features and a fair amount of flexibility when it comes to bookkeeping which makes unlimited invoices and transactions possible.

It is one of the more prominent bookkeeping applications available for small businesses where users can leverage the program to easily search and categorize business expenses, send customized invoices, and receive recurring payments.

Lendio sets itself apart from other bookkeeping solutions with its dedicated bookkeeper services, but those services are available with the premium plan.

AdvantagesDisadvantages
It lets you send unlimited invoices.No cash flow insights.
It lets you generate profits and losses.Its suite of features is pretty restricted, relative to that of its paid plan.
It lets you manage income and expenses.Lacks payment integrations.

Number 6: Brightbook

ProductBrightbook
Website:https://mybrightbook.com
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Brightbook offers a web-based accounting solution tailored to suit the needs of independent contractors, freelancers, and small business owners. It has an extensive suite of features available for free including resources for invoicing, visibility into your cash flow, financial reporting, and drafting financial statements.

Some paid features are available for one-time fees. The program doesn’t have a mobile application, and it can’t be accessed via mobile browsers. Regardless, Brightbook is a solid option for freelancers or independent contractors. 

AdvantagesDisadvantages
Full suite of features is free.It can’t be accessed via mobile.
It can be used for multiple companies.Reporting features are limited.
It has a friendly interface.It lacks some more sophisticated features.

Number 7: Akaunting

ProductAkaunting
Website:https://akaunting.com
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Akaunting is a free, web-based, and open-source accounting solution for small businesses and freelancers with a global reach and sizable user base. The program offers a full suite of features including resources that can help you manage cash flow, track expenses, deal with invoicing, and set transaction categories.

With its featured client portal, you can share transactions and invoices with your clients and accept bulk payments. Akaunting has a user base of over 270,000 users and it’s available in over 50 languages, making it one of the most popular, wide-reaching open-source solutions.

AdvantagesDisadvantages
Open source and secure.Potentially difficult to operate.
Accessible from anywhere.Questionable support.
It is free.

Number 8: Zoho Books

ProductZoho Books
Website:https://www.zoho.com/us/books
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Zoho Books offers a robustly featured accounting solution tailored to help small businesses. With a user-friendly interface and a solid mobile application, Zoho Books is one of the more straightforward, accessible solutions listed here.

Its free plan is only available to organizations generating less than $50,000 in annual revenue, if you qualify, Zoho Books can cover a lot of your bases with its end-to-end accounting resources.

The program also has a client portal to help you seamlessly connect with your customers. But it comes with some limitations, including a lack of payroll management resources.

AdvantagesDisadvantages
Accessible interface.No payroll management resources.
End-to-end accounting features cover a lot of bases.Support is restricted to email.
Solid mobile application.Only certain businesses qualify.

Number 9: Odoo

ProductOdoo
Website:https://www.odoo.com
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Odoo offers a combined sales and project management in a single tool, and enriches them with a variety of MRP, POS, and e-commerce functions to deliver a universal solution that enables businesses to manage all types of operations.

Furthermore, Odoo also provides a highly customizable and flexible system that you could easily adjust to the specific needs of your business.

The system goes a step ahead integrating every sales channel you can think of, which combined with its powerful inventory management, makes it  one of the best all-rounder business management tools.

AdvantagesDisadvantages
Automatic data entry.Incomprehensible interface.
Automated bank feeds.Unreliable customer support.
Cash register management.

Number 10: Expensify

ProductExpensify
Website:https://use.expensify.com
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 Expensify is a powerful tool that streamlines your entire pre-accounting process. Its automatic expense management and receipt tracking feature saves countless hours of grueling manual entry with one-click expense reports in real-time. Expensify also offers a user-friendly mobile app, which is available on iOS and Android devices.

Expensify is another affordable choice for money-matter control and an excellent choice for businesses looking to improve financial control, maintain summaries of several accounts at once, balance debt-to-income ratios, or particularly handle travel expenses.

AdvantagesDisadvantages
UI is easy to follow.Pricing model is confusing and seems to change a lot.
It’s easy to reimburse employees timely.Smart scan fails too often.
It’s easy to reimburse employees timely.Unreliable customer support.

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