Managing finances can be quite challenging for most small business owners. Fortunately, there are several accounting software tools designed to assist them. The best part? Many of these tools are offered at no cost, making them ideal for business owners working with limited budgets.
Free Software for Your Small Business Accounting
Every accounting software for small businesses comes with its own set of features. In the case of many free tools, users can access necessary features to balance books, create financial reports and prepare for the tax season.
While some advanced features, such as inventory management and income and expense tracking, might be limited in the free version, this may not apply to every option available.
Best Free Accounting Software
With a wide variety of free accounting software for small business options to choose from, selecting the right one can be confusing. Let’s explore some of the top accounting software tools currently available.
Wave Accounting
Many businesses depend on Wave to manage their accounting requirements effectively. Its popularity among small business owners stems from its user-friendly interface. Additionally, it offers features like unlimited income and expense tracking. Thus, for small businesses with constrained resources, Wave serves as an excellent choice for managing their accounting.
One downside of using this tool is it doesn’t let users track accounts payable. It also doesn’t have an advanced mobile app, which can make it less accessible than other free software tools.
Some of its key features include:
- Unlimited number of users
- Exportable accounting reports
- Limited third-party app integrations
BrightBook
Many freelancers and independent contractors depend on BrightBook as their accounting solution. It offers a variety of features, including financial reporting, invoicing, and help with financial statements. However, there is a downside: BrightBook lacks mobile support.
Some of its key features include:
- A full range of features is available for free
- Comprehensive visibility into business
- Limited reporting features
GnuCash
GnuCash is a free desktop accounting software for small businesses. It can be downloaded on Windows, Mac OS X and Linux. It doesn’t have a great interface, but once installed it can support much of your accounting needs. The software is designed especially for sole entrepreneurs who need help with day-to-day accounting.
Some of its key features include:
- Budget management tools
- Supports internationalized dates and currencies
- No customer support
Zoho Books
Designed for businesses making less than $50,000 in annual revenue, Zoho Books is a robust solution that comes with a host of accounting features. On its platform, businesses can find a simple solution to manage invoices and sales orders.
Some of its key features include:
- End-to-end accounting features
- Mobile application
- No payroll management resources
TurboCASH
With TurboCASH, businesses can access free open source accounting software. Its TurboCASH 4 plan is completely free. The program lets you set up your accounting system and adjust it according to your needs quickly.
Some of its key features include:
- Cloud-based
- 24/7 customer support
- Ease of managing documentation
Akaunting
Akaunting is widely favored by small business owners and freelancers. Many of its essential features are offered for free, contributing to its large user base. Among these valuable features are transaction categories, cash flow management, and expense tracking. Additionally, the platform is cloud-based, enabling users to access it from any location and on any device.
Given its massive reach, Akaunting is available in more than 50 languages. On the flip side, Akaunting doesn’t have strong customer support in place.
Some of its key features include:
- Open-source software
- One-stop-shop with extensive accounting features
Fiverr Workspace
Fiverr Workspace is a free accounting software aimed at independent contractors and freelancers. It’s not a complete accounting solution but has a number of basic features to offer. These features are useful for businesses to perform basic tasks such as sending invoices, tracking expenses, managing contacts, and tracking time.
On the downside, the free plan allows businesses to bill only one client. To add additional clients, businesses must upgrade to a paid plan.
Some of its key features include:
- Basic reporting
- Project management tools
- Branded invoicing
Free Bookkeeping Software
Accounting and bookkeeping go hand in hand. That’s why, almost all accounting software tools come with a bookkeeping functionality.
Let’s look at some free bookkeeping software solutions for small businesses.
Sunrise
Sunrise is among the top free accounting software for small business bookkeeping needs. This tool is ideal for companies seeking to organize their expenses effectively. Its entirely free plan provides various features and the flexibility needed for efficient bookkeeping management.
Some of its key features include:
- Supports unlimited invoices
- Lets users generate profits and losses
- Lacks payment integrations
ZipBooks
ZipBooks is another feature-rich accounting and bookkeeping solution. It offers a free plan called ZipBooks Starter that includes features such as basic bookkeeping and balance sheet reporting. It also includes certain quote and invoice-related bases.
Some of its key features include:
- Unlimited invoices
- Supports digital payments via PayPal and Square
- Lets users connect to only one bank account
NCH Express Accounts
For businesses with less than five employees, NCH Express Accounts is a simple yet highly efficient bookkeeping solution. A desktop accounting and bookkeeping software solution, NCH Express Accounts allows businesses to prepare tax returns with financial reports, save time with sales tax tracking and document all incoming and outgoing cash flow.
Some of its key features include:
- Ease of use
- Option to chat with representatives
What is the best small business accounting software for free?
While there are many solutions available for free, the best one is Akaunting. It comes with a range of features and has been a top free accounting software for small businesses all over the world.
What is the best free bookkeeping software?
When it comes to bookkeeping, Sunrise stands out as the top choice. Specifically designed to simplify bookkeeping for small businesses, its user-friendly, self-service plan is perfect for budget-conscious business owners looking to take control of their financial management.
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