Best Free Accounting Software 2024

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.

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 INR 749 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.

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.

If you’re looking for free accounting software that has strong P&L statements, Sunrise is a good choice. In addition to being able to generate P&L statements, you can also process payments, manage income, send invoices, manage expenses and send quotes. It has one paid plan, which is around INR 1,644 per month and includes features, such as cash flow insights, auto-categorizing expenses and payment integrations.

Who should use it:

Sunrise free accounting software is best for businesses that want to generate detailed profit and loss statements.

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.

If you’re a freelancer, you may not need all the features that come with more comprehensive free accounting software. TrulySmall Invoicing 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 a TrulySmall accounting plan, you can send invoices, track income, generate reports, track sales and sales tax, accept payments and track expenses. This costs around INR 1,645 per month or around INR 1,480 per month when billed annually.

Who should use it:

TrulySmall free accounting software is best for freelancers who need basic accounting features.

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 around INR 1,645 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.