Free Accounting Software

Best Free Accounting Software for Small Businesses

You don’t need to be a qualified accountant to get your business’s accounting and financial management done. Unfortunately, small businesses on a tight budget can’t hire a permanent accountant or use expensive accounting tools. You don’t need to spend tons of dollars on fancy software to get your accounting done; you can do it for free!

You may be hesitant to try free accounting software thinking it wouldn’t be inaccurate or too complicated if you aren’t an accountant. Unfortunately, both of these assumptions are false. However, there’s a difference between free accounting software and purchasing software so let’s find more.

Do you need accounting software?

There are many free options for you if you’re looking for software to serve your basic accounting and financial needs. However, if you decided to use paid software, many companies, including, provide a free trial period to test their product. This way, you can see for yourself whether the functionality of this or that platform is suitable for your business needs.

But if you’re trying to save money and don’t need excessive features, then purchasing accounting software isn’t a must. Some software options are better than others. Whether an open-source solution that offers customization or a solution with a unique feature, the options are many. However, you might face restrictions regarding the number of users or the amount of storage. But if you’re running a small business and only one or a few people will deal with the software, it shouldn’t be a problem.

What is the best free accounting software for small businesses?

After intensive research into reviews, ratings, and features, we’ve narrowed our options to these top free accounting software. Each software offers something unique that can benefit your business.

  • Wave
  • Zoho Invoice
  • GnuCash
  • Invoice Expert
  • Turbo Cash
  • Money Manager Ex
  • ZipBooks
  • xTuple PostBooks
  • SlickPie
  • AdminSoft Accounts

#1 Wave

Wave apps

Wave is for you! This open-source software is cloud-based and caters to startups, freelancers, and small businesses. It offers excellent options from payroll to invoicing in a simple interface. It is well known for being the world’s best free accounting software for small businesses. Can it get any better?

Its features include creating & delivering invoices, collecting payments, taxation, financial reports, managing expenses, and even time tracking. You control all this through a customized dashboard from any operating system. Even develop your integrations if needed. It’s yours to do as you please.


  • Customizable invoices.
  • Invoice scheduling.
  • Recurring billing.
  • Online client portal for invoices.
  • Estimates.
  • Invoice payment reminders.
  • Accounts payable.
  • Expense tracking.

#2 Zoho Invoice

Zoho Invoice

Contrary to beliefs that Zoho only offers paid plans, a free invoicing edition is available to download. It is an invoicing option more than it is for accounting. It focuses on creating, delivering, and managing invoices with multiple templates available and collecting payments.

This solution is a treat for small businesses and their clients. Zoho presents ease with payments with a client portal to communicate with your clients. Plus, popular payment integrations with PayPal, 2checkout, and Stripe. However, their website alerts you that it’s a limited app suitable for small businesses with less than 5 customers.

This option is mainly used by freelancers but is worth mentioning for its easy and unique invoicing.


  • Invoices templates
  • Invoice in multiple currencies
  • Communicate in your customer’s language
  • Schedule invoices
  • Schedule recurring invoices
  • Real-time invoice reports
  • Print and share invoice

#3 GnuCash


GnuCash is an open-source, cost-effective solution for small to large businesses. It gets all your financial issues organized and figured out. Offering double-entry accounting, it is rich with features in finance and accounting. You get accurate financial reports, tracking incomes and expenses, stock management, data storage, and exchange. You can get all these features for free, giving you an end-to-end solution to your finances. In addition, it accommodates multiple currencies and languages.

If you’re looking for an easy system to get your books lined and numbers checked, GnuCash is an excellent fit for you.


  • Double Entry
  • Checkbook-Style Register
  • Scheduled Transactions
  • Reports, Graphs
  • Statement Reconciliation
  • Income/Expense Account Types
  • Multiple Currencies

#4 Invoice Expert

Invoice Expert software

This solution is perfect for small businesses, retail stores, or any businesses that sell physical products. This is because it offers unique inventory and customer management, invoicing, and billing services.

The free edition allows you to manage up to 100 customers/ products, so it isn’t scalable. For unlimited customers/ products, you’ll need to purchase the professional version.


  • Invoice and quote designer
  • Recurring invoices
  • Customer management
  • Purchase orders
  • Networking options
  • Vendor management
  • Inventory control
  • Quoting
  • Invoicing

#5 TurboCASH

Turbo Cash

TurboCASH is an open-source, free solution with advanced accounting options, usually utilized by accountants or small businesses. Its interface is a little more complicated than the other systems, but it offers your basic invoicing and accounting services. It is a desktop system that provides inventory, invoicing, tax compliance, cashbook, and other features.

A double-entry accounting system with data migration and third-party integration that has over 100,000 users worldwide.


  • Invoicing
  • Stock
  • Cashbook
  • Customer management
  • General ledger
  • Sales tax and VAT
  • GAAP

#6 Money Manager Ex

Money Manager Ex

This is an easy-to-use, simple-to-navigate, friendly platform, making it great for businesses with no accounting experience. It is suitable for startups, freelancers, and small businesses, but you’ll need to upgrade to a more advanced system with business growth.

You can get your accounts and deposits set up in minutes, and that is what this system is known for its simplicity.


  • Accounting
  • Payroll management
  • Invoices
  • Balance sheet
  • Income statements
  • Billing and invoicing
  • Tax management
  • Profit/loss statement

#7 ZipBooks


The top benefit of using this system is its rich features, offering you advanced invoicing and bookkeeping. It also has no restrictions allowing unlimited users, customers, invoices, and bookkeeping.

It is a cloud-based solution catering to freelancers and small businesses but isn’t scalable since it doesn’t have a payroll or inventory feature. However, it is great to simplify complex accounting transactions and make online payments with credit cards or PayPal.


  • Accounting
  • Invoicing
  • Time tracking
  • Reports
  • Vendor and customer management

#8 xTuple


xTuple is an open-source solution that works on multiple operating systems like Windows, Mac, and Linux. It is designed to cater to small businesses to big enterprises with a CRM feature, inventory, sales management, and accounting. xTuple stands out from the rest of the accounting systems in the additional features, centralizing the business process into one system.

However, since it is more technically advanced, you will need an IT employee or technical team to support and evolve this system. Technical support can also be found online but will probably cost you.


  • Accounting
  • Purchasing and receiving
  • Purchase order management
  • Inventory management
  • Reporting
  • Warehouse management
  • Sales orders

#9 SlickPie


With a slick and straightforward design, SlickPie was made for the little man. It has inventory, accounting transactions, tracking options, and invoicing. However, invoicing is limited. You’re allowed up to 100 invoices per month. So if your business grows, you’ll probably need to upgrade to a better system. Nevertheless, SlickPie is suitable for a startup or freelancer looking to get basic invoicing without spending any money.


  • Accounting
  • Billing and invoicing
  • Accounts payable
  • Cash flow management
  • Cash management
  • Contact database
  • Credit card management
  • Credit card processing
  • Customizable invoices
  • Document templates

#10 AdminSoft Accounts

AdminSoft Accounts

Another great solution for small businesses that offer more than just basic invoicing options. You also get stock control, financial advice, budgeting, and even some HR tools. With more than 300,000 users, AdminSoft is a great free option that can easily be changed to multiple currencies.


  • Accounts receivable
  • Billing and invoicing
  • Cash management
  • Purchase order management
  • Partial payments
  • Bank reconciliation