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DISCLAIMER: The “free accounting software” options are recommendations designed to get you off the ground. While these programs are indeed “free” on the most basic levels or for limited times, it’s important to note that once the free trial period concludes, you will be required to pay for continued use. Additionally, if you use “Freemium” accounting software, you must pay for more advanced accounting features and functionality.
The days of keeping up with your cash flow, credit card debts, bank accounts, etc. in a notebook or simple spreadsheet are far gone.
In today’s world, you almost need an accounting program with advanced features to keep up with your income and expenses, pay taxes, and maintain your peace. That’s especially true if you are a freelancer or small business owner.
However, it’s important to note that even the best free accounting software has limitations. In the sections below, learn about the pros and cons of using free bookkeeping software.
The most significant advantage of free bookkeeping software is its free use. That means that you can get the following benefits without paying anything:
Simple financial reports
Simple financial statements
Limited invoicing software
Sales tax calculations
These accounting features, coupled with others, make many free accounting software options appealing for personal use and business.
However, before you download the free version of Zoho Books, Quickbooks Online, Wave Accounting, Zipbooks, or a similar free accounting solution, you should know the disadvantages.
The free version of most accounting programs may be adequate for low-volume freelancers and individuals with less complex finances.
However, the free plan does not typically offer all the tools, accounting features, and functionality required for complicated accounting. Additionally, they are not very customizable.
An accounting app’s free version does not usually provide the following functionality:
Unlimited bank account linking
Complex and intuitive inventory management
Complex business finances
Client portals and online payment acceptance
Dedicated customer support on the phone or email support
Unlimited users or multiple team members
These limitations may not be much for personal use. However, individuals and companies interested in free small business accounting software should know the limitations and how they can affect business operations.
In most cases, it’s in your best interest to at least explore the paid plans before investing the time and energy in integrating a free accounting program into your business.
We understand how essential your accounting software is to your personal life and business. Listed below are answers to a few of the most frequently asked questions about free accounting software to help you determine how to pick the right accounting software for your needs.
In no particular order, a few of the best free accounting software(i.e., 100% free, freemium, and free trials) programs include:
Generally, the best free accounting software for individuals, small businesses, and entrepreneurs depends on user needs. For example, if you value impeccable customer support, you may choose a program like FreshBooks.
On the other hand, if you need a lot of invoice customization, then an accounting program like Invoice2Go may be optimal. In most cases, it’s best to give each software a trial on a limited basis and then integrate it into your workflows once you’re sure it’s the accounting software for you.
There are countless freemium accounting programs on the market. Most have strict security and safety policies. However, entrepreneurs using the free version can expect far less security or support if something goes wrong. Whether the app is open source, closed source, free, or paid, you should do your homework before investing in them.
If you are a solo entrepreneur, freelancer, or individual interested in a simple bookkeeping program. A few easy-to-use free accounting software include:
If you have relatively simple finances, then just about any free accounting program will suffice (depending on your needs). However, a few of the most popular freemium personal accounting software include Mint, Buddi, and GNUCash.
Business owners and entrepreneurs have varying accounting needs. Fortunately, there are enough free accounting programs (including freemium services and free trials) to meet almost any need. Generally, some of the best free business accounting software include Zoho Books, Akaunting, Wave, and ZipBooks.
In most cases, there are no free plans exclusively for non-profits (i.e., Free QuickBooks for non-profits). However, clubs, associations, and other types of non-profit organizations can use the same free accounting software tools as entrepreneurs and business owners.
Google does not have stand-alone accounting software. However, many of the best free, freemium, and paid versions of accounting software integrate with Google Workspace, which can help to streamline workflows, automate simple tasks, and make your life a bit easier.
Some of the most frequently used accounting apps that integrate with Google Workspace include:
Zoho Books & Zoho Invoice
Big E-Z Accounting for Google Sheets
And many others
The most commonly used accounting software can fluctuate over time. The most widely used accounting apps currently include Quickbooks, FreshBooks, and Sage Accounting software.
There are no free accounting software programs for Microsoft Excel. However, the program was created (in part) to support many accounting functions, including the creation of balance sheets, financial statements, and limited financial reports (i.e., budget reports, cash flow analysis, etc).
Most cloud-based accounting software can be leveraged for business and personal use. The best accounting software for personal use depends on your needs, accounting knowledge, and many other factors. We encourage you to test out a few free trials, consider your experiences, and select the accounting program that fits you best.