6 Best Free Accounting Software for Small Businesses in 2024

Accounting software is used to maintain the financial records of businesses digitally. It is a great way to manage the finances of any company, small business, or any individual like a freelancer, contract worker, etc. These programs generally include features such as invoicing, expense tracking, financial reports, etc.

In this article, I have created a list of the six best free accounting software for your needs, and you can access them on your PC easily. Selected based on their cost, features, support, reputation, and some other criteria, these free accounting applications are the best choice for small and medium business owners to maintain their business and financial records books for free.

Best Free Accounting Software for Small Businesses and individuals
6 Best Free Accounting Software

Best Free Accounting Software for 2024:

Most accounting software helps business owners to manage their day-to-day transactions and financial records. including payable or receivable accounts, journal, general ledger, billing, payroll, and trial balance, etc. It is also used to automatically control and track profit and loss, debit and credit, stock items, balance sheets, purchase orders, sales orders, bookkeeping, etc.

Here are the 6 free accounting software for Windows PC.

NCH Express Accounts:

NCH free accounting software for Windows is an excellent option for businesses with five or fewer employees. Although NCH Express Accounts is a professional business accounting software, there is also a free version of this software that is available to use by small businesses with less than five employees.

The free version lacks some of the features that larger enterprises typically need, but it still offers a lot of great tools and features that are sufficient for small businesses and individuals. With this free version, you’ll be able to create income statements, balance sheets, P&L statements, and sales analyses.

If you are looking for the best free accounting software for Windows PC, then you can try the free version of NCH. It is compatible with both Windows PC and Mac. The NCH Express Account free accounting software is perfect for small businesses needing to document and report on incoming and outgoing cash flow including sales, receipts, payments, and purchases. and most importantly, it is free. Here are the features of NCH Express Accounts:

  • It has a friendly interface and is easy to use.
  • Lets you access and generate 20 crucial financial reports.
  • It is free for companies with less than five employees.
  • Includes more than 20 financial reports.
  • Analyze revenues by customer, team member, or item.
  • Manage accounts receivable and payable easily.

Download NCH Express from here:

Wave Accounting:

The Wave is another web-based free accounting software and one of the best services for small businesses that offer accounting, invoicing, and receipts for free. It is award-winning free software that offers several professional features.

On Wave, you can connect unlimited bank accounts and other accounts like a credit card account, etc. It also allows you to track income and expenses,  sales tax on income and expenses, scanning receipts, etc for unlimited times, and also add unlimited partners and collaborators, manage multiple businesses in one account, scan multiple receipts all at once, etc. It is also available on mobile platforms like Android and iOS. And most importantly, you will get all the above features for free. Wave neither requires any setup fees or monthly fees nor has any hidden charges. It is one of the great free software to manage accounts for entrepreneurs.

Features:

  • Wave free accounting software is one of the easiest accounting software.
  • Allows to track income and expenses, send invoices, track sales tax, and create reports.
  • Allows to run multiple businesses from the same account.
  • Dashboard area to watch business with unlimited partners and accountants.

Visit the Wave website here.

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Money Manager Ex:

Money Manager Ex is an open-source free accounting tool to manage personal financial accounts. This cross-platform application is packed with several great tools and features that help users use this software as a free substitute for premium accounting software.

The interface of this application is very simple and easy to use which helps individuals manage their accounts and track their debit and credit reports, way of expenditures, transactions, etc.

Features of Money Manager Ex:

Money Manager Ex has an impressive, simple, fast, and user-friendly interface so that users can manage this app easily. Using Money Manager Ex, you can check credit card accounts, bank accounts, savings, assets accounts, investments in stock, etc. The reports can be seen using graphs or pie charts in no time. It can import data from any CSV (Comma-Separated Values) format, QIF (Quicken Interchange Format), HTML, and XML formats so that the user can open their previous reports in Money Manager Ex.

The Money Manager Ex is a cross-platform application that can be installed on different operating systems such as Windows, Mac OS, Linux, Android, etc. The windows version has both 32-bit and  64-bit installers available. Additionally, it is available in 24 international languages to help users of different regions. There also is a portable version available of this app that does not require to install on a PC and can be run from an external USB drive.

Download Money Manager Ex for free here.

ZipBooks:

ZipBooks is another accounting application initially released in 2015. This cloud-based program has several great features that let business owners basically small business to manage their accounts and help them to take their business forward. It has all the necessary account management features like billing, managing expenses, creating reports and invoices, etc.

ZipBooks provides an easy-to-use user interface and several powerful tools and options. The ZipBooks starter edition or free edition offers some essential features like Sending unlimited invoices, Viewing basic reports, allowing you to connect and manage one bank account, managing unlimited vendors & customers, unlimited bookkeeping, and it lets you accept digital payments from Square or PayPal.

Features of ZipBooks:

  • Allows to generate unlimited Invoices.
  • ZipBooks lets you manage unlimited vendors and customers.
  • It accepts digital payments via Square and Paypal.

Visit the ZipBooks website here.

Manager Accounting Software:

The Manager is another cross-platform free software suitable for small businesses and individuals. It is available for Windows, Mac, and Linux operating systems. It is comprehensive free accounting software that has all the required features that an accounting application should have. The developer of the Manager still working on adding more features.

Features of Manager: 

It has almost all types of accounting and financial features. Some of the most important features of Manager app are:

Preparing general ledger, cash management, managing both receivable and payable accounts, preparing estimates & quotes, purchase orders, billing and invoicing, sales orders, managing stock and inventory, fixed asset management, profit & loss statement, managing the balance sheet, VAT, GST or sales tax, Multi-currency, payroll management, manufacturing management, and many more.

This application is absolutely free. Anyone can use this software without any charges as long as they want to use and most importantly there is no time and use limit on Manager. That means users can enter unlimited data without any time and other restrictions. It doesn’t even show any ads.

Visit the Manager website and download it here.

GnuCash:

GnuCash is another open-source free software for desktop computers to manage all types of personal and small business accounting needs. GnuCash is a very powerful, easy-to-use, flexible finance and account managing software that allows you to track and manage bank accounts, financial calculations, stocks, income, and expenses, prepare reports & graphs, accounting, double-entry accounting, etc. It is also used to manage invoices, payable and receivable accounts, payroll, employee expenses, etc.

GnuCash is one of the best free accounting software that is available for Windows, Mac OS X, Android, and Linux operating systems. You can download GnuCash using the below download link.

Features of GnuCash:

  • Compatible with multiple operating systems
  • It is a cross-platform software that is available in multiple operating systems.
  • It is available in many languages.
  • Double-entry feature to ensure book balance.
  • Budget management tools can help plan financial strategy.
  • GnuCash supports internationalized dates and currencies.

Download GnuCash.

Tally Prime (Paid software)

Tally Prime is a popular comprehensive accounting and planning software for Windows computer systems. Tally is used to record financial transactions and inventory management. It is suitable for all types of business whether an individual or small and medium-sized company. You can download Tally.ERP latest version for Windows and can install on Windows,  10, 8, and 7 on 32-bit and 64-bit PC. It is also available for Windows XP operating systems.

Tally Prime is a product of Tally Solutions, which also developed other account and finance-related software like Tally.Server, Shoper, Tally.Developer, etc. Tally is a paid software, but you can also try this popular software for free. It offers a 7-day trial period. In this trial period, you can use this program without any charges. But if you want to continue using the software, then you have to buy an activation license.

Download the latest version of Tally Prime here.

You can also download the old version, Tally.ERP 9

FreshBooks:

FreshBooks is one of the easiest accounting software to manage business accounts. It is a good choice for small business owners who want easy-to-use accounting software. It has a simple design that any user, even without an accounting background, can use to manage their business accounts. You can use it to create and send invoices, track expenses, manage projects and clients, and view reports.

When it comes to pricing, it provides three plans, Lite, Plus, and Premium. The Lite option provides the basics for those with a few billable clients and no intention of increasing the number. Through this plan you can send unlimited invoices to up to five clients, make payments with credit cards and bank transfers, and track an abundance of expenses – all of which are essential for freelancers.

Besides its primary plans, it also offers a custom plan with custom pricing for businesses with complex needs. This comes with unlimited invoices to up to 50 clients, everything in the Lite plan, plus recurring billing and client retainers, business health reports, double-entry accounting reports, and more. FreshBooks offers all the commonly required features that all accounting software does.

Learn More about FreshBook Here.

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