The Best Free Accounting Software For Small Businesses

Sunrise by Lendio (formerly Billy) is a great free option for businesses that want simple bookkeeping software without the bells and whistles (and high price tags!) of full accounting software. With Sunrise, you can be up and running in just minutes, performing tasks such as sending invoices to clients, managing expenses, and accepting online payments.

One unique feature of Sunrise is that you may qualify for additional funding opportunities through Lendio just by maintaining your books. And if your books become too time-consuming to manage? You can upgrade to Sunrise’s paid professional bookkeeping service, which offers extremely competitive pricing. Throw in support for unlimited users, good customer service, and positive online reviews, and it’s easy to see why Sunrise makes our cut.

Sunrise Features

Businesses that need full accounting software with advanced features (such as inventory management) will need to seek out other software. However, businesses that want basic bookkeeping software with no limitations, an easy-to-use UI that’s perfect for beginners, and great customer service may find a winner in Sunrise. With Sunrise’s free self-service software, you’ll receive:

• Unlimited invoices
• Unlimited quotes and estimates
• Expense tracking
• Chart of accounts
• Cash flow tracking
• Journal entry
• Tax support

Sunrise Pricing

Sunrise’s self-service software is completely free. If you need payment processing, Sunrise offers a pay-as-you-go plan of 3.55% + $0.30 for credit card transactions. You may also opt to upgrade to Sunrise Plus for $19.99/month, which offers lower processing fees, cash flow insights, and integrations with Square, Stripe, and PayPal.

You can also sign up for bookkeeping services with Sunrise. Pricing is based on your number of transactions per month and starts at $149/month.

Wave is the free accounting software choice of over 3.5 million users. It stands out from the competition for its forever-free plan, which doesn’t have the limitations of other free programs. Additionally, this cloud-based software is easy to use and has a robust feature set that’s on par with many paid software options.

When using Wave, you’ll have access to customizable invoices and estimates, expense tracking, and bank reconciliation. You’ll also have access to journal entries, inventory lists, and a customizable chart of accounts. Despite a few shortcomings, Wave has received overall positive reviews from its users.

Wave Features

Unlike many other options you’ll find, Wave is truly forever free. You also won’t be held back with limitations on the number of invoices you receive or have to upgrade to access basic features. Wave offers one plan, which doesn’t have any setup fees, monthly fees, or hidden charges. With this free plan, you’ll receive:

• Unlimited, customizable invoices
• Unlimited estimates
• Recurring invoices and automatic payments
• Unlimited bank and credit card connections
• Expense tracking
• Bank reconciliation
• 12 reports

Wave Pricing

Although Wave is free to use, some of its paid add-ons may benefit your business. That includes credit card processing, which starts at 2.9% plus $0.30 per transaction. ACH bank payments are 1% per transaction. Wave also offers payroll services starting at $20/month plus $6/month per employee.

Additionally, you can sign up for Wave Advisors services for your tax and bookkeeping needs. Bookkeeping and payroll support start at $149/month, tax services start at $899/year, and you can purchase accounting and payroll coaching for a one-time fee of $229.

ZipBooks is free accounting software designed by small business owners for other business owners, freelancers, and entrepreneurs. Automation is where ZipBooks truly stands out, combining a color-coded design with a strong feature set to simplify the accounting process.

With a free account from ZipBooks, you’ll be able to send invoices to customers, manage your contacts, and access business health scores. If you need additional features, ZipBooks offers several monthly membership plans. ZipBooks also stands out for excellent customer service and robust security features and has an excellent reputation among its users.

ZipBooks Features

ZipBooks offers several plans, but for those that don’t want to pay a monthly fee, the free Starter plan includes:

• Unlimited invoices
• Unlimited customers and vendors
• Expense tracking
• Connect to one bank account
• Digital payments through Square or PayPal
• Basic reporting

ZipBooks Pricing

The ZipBooks Starter plan is completely free. If you want access to more features, you can upgrade to one of ZipBooks’ paid subscriptions. For $15/month, you can sign up for the Smarter plan, which boasts additional features and automations, including scheduled recurring invoices, time tracking, and support for up to five team members. For $35/month, you can upgrade to the Sophisticated plan, which includes smart tagging, additional reports, and support for unlimited users.

Odoo is different from the other software on the list because it isn’t accounting software. Instead, it’s enterprise resource planning (ERP) software. While we could get technical about ERP, we’ll keep it simple: Odoo offers over 40 business applications, including Odoo Accounting. You can stick with just Odoo Accounting, or you can combine several different small business apps. One of the best things about Odoo is that the software is completely customizable to fit your business’s needs now and scalable to meet your needs in the future, too.

For this review, though, we’re focusing solely on Odoo Accounting. Odoo comes with features you’d expect from small business accounting software, such as a chart of accounts, invoicing, expense tracking, accounts payable, and basic inventory. Additionally, the software is easy to use, and you can choose from web-hosted and on-premise installations, although this may affect your total monthly cost.

Odoo Features

The cloud-hosted version of Odoo Accounting is free for a single user. It includes most features you’d expect from accounting software, including:

• Invoicing
• Expense tracking
• Accounts payable
• Journal entries
• Budgeting
• Fixed asset management
• Basic reporting

Odoo Pricing

Odoo Accounting for a single user is free. Additional apps, hosting, and users can be added for a monthly or annual subscription fee. Odoo apps start at $15/month, and integrations can be purchased starting at $45/month. You can also purchase Success Packs and implementation with a local partner.

Fiverr Workspace (formerly known as AND CO) was designed with the freelancer in mind. It isn’t full-fledged accounting software, but it offers plenty of basic tools that are beneficial to freelancers, microbusinesses, and independent contractors. Fiverr Workspace makes it easy to perform basic tasks, such as tracking expenses, managing contacts, sending invoices, and tracking time.

Fiverr Workspace offers a free plan, but unfortunately, limitations on this plan only allow you to bill a single client. If you need to invoice additional clients, you can upgrade to a paid subscription. If you aren’t a freelancer and instead operate a small business, you may need more tools than Fiverr Workspace offers. However, this management software offers several great features with an easy-to-use interface that simplifies freelancers’ accounting and bookkeeping tasks.

Fiverr Workspace Features

With the forever-free version of Fiverr Workspace software, a single user will have access to:

• Branded invoicing for one client
• Expense tracking
• Time tracking
• Basic reporting
• Contracts and proposals
• Project management tools

Fiverr Workspace Pricing

If you have more than one client, you must upgrade to the Unlimited plan. For $24 per month, you’ll be able to invoice unlimited customers. Pro users also get added features, such as non-branded invoicing and customizable contracts.

Zoho Books offers everything you’d expect from accounting software, such as journal entries, charts of accounts, expense tracking, and financial reports. Where the software really shines, though, is in its invoicing. Zoho Books has 16 invoice templates and multiple customization options and automations to make invoicing more personalized and easier than ever.

Additionally, you’ll find that Zoho Books has an excellent public reputation and exceptional customer support. Though there are some limitations with the free plan (more on that in a minute), Zoho Books is an excellent choice for businesses that want strong accounting software comparable to QuickBooks Online without the monthly subscription fee.

Zoho Books Features

Until recently, Zoho Books was only available as a paid subscription. The company has now added a free plan that’s ideal for businesses with revenues of $50,000 or less per year. Zoho Books’ free plan is made for a single user and includes:

• 1,000 invoices per year
• Expense tracking
• Mileage tracking
• Bank reconciliation
• Chart of accounts
• Journal entries
• Contractor management

Zoho Books Pricing

More invoices, additional users, and advanced features, such as project management, job costing, and budgeting, require a subscription to a paid plan. The free plan only includes email support, and access to text and phone support also requires a paid subscription. Plans start at $20/month. Zoho Books’ free plan is limited to one user plus one accountant; additional users cannot be purchased on this plan.