3 Best Free Accounting Software in 2021

 3 Best Free Accounting Software in 2021

While accounting software is used for a huge array of organizations, not everyone wants to pay for it. Free accounting software can offer some or all of the functionality you need to keep your business operating effectively. The best free accounting software allow for accurate record-keeping and analytical tools. Working within the natural limitations of free software can help you find a cost-free option to work for your use case.

  User Cap trScore Biggest Pro Biggest Con
Wave Unlimited 7.2/10 Unlimited Invoices, Users, and Transactions Per-Transaction Payment Acceptance Charge
Akaunting Unlimited N/A Open-Source, Mobile-Friendly Less Customer Support Than Vendor Software
ZipBooks Free One 8.4/10 Great Payment Acceptance One User Limit
Wave – Unlimited, Free Accounting for All
For a huge number of use-cases, Wave is going to offer a host of features without many of the limitations of free choices. Its major limitation is that it does charge a per-transaction fee for accepting payments. If you are okay with this, or use a different method of payment collection, the features are extensive. 

Wave offers unlimited income and expense tracking. Sales tax is automatically calculated on both expenses and income. These are specifically designed to help you regulate and manage your cash flow. They will also make your filing seasons far easier and more organized. The double-entry accounting system is designed to make end-of-year filing more efficient

Tax information can be simply and quickly organized into various categories depending on their classification. This allows users to meet compliance and regulatory requirements, both in filing and what they will end up paying. 

Where the software shines is in its unlimited partners, accountants, and collaborators. This means you will not have to worry about restricting who in your organization has access to the software for fear of hitting a user cap. Many free software does have a limit of this type. Small business owners with larger or ever-changing teams, this should be a key factor.

The sense of “unlimited” does not stop with the lack of a user limit. There is no cap on the number of banks you can connect to the software. The same is true for credit card connections. This is especially helpful for organizations that have expenses in many different areas, or that work with direct transfers from clients regularly.

This fiscal freedom is clearly motivated by a desire to get you to use their per-transaction payment acceptance system. The costs are very reasonable if you do decide to take advantage of them. If you do not, this motive serves to remove many of the common limitations of free tools in this category.

 Another major benefit is invoicing features built into the tool. You will be able to generate estimates and convert them to billable invoices once all parties have agreed on terms. There is an array of professional-looking, high-quality templates to fit this feature to your organization’s industry. Once again, this is obviously intended to encourage the transaction costs. If it gets you  better free software, then no complaints here. Automatic payment reminders exist on both the vendor and client side.

The software’s user-interface is straightforward and easy to use. All of the systems can be viewed and managed from a central dashboard. While this is accounting software, it is friendly to those without professional experience. Accountants will feel right at home, and others will be able to use the features with a little training.  

In summary, this is a comprehensive, free software that can help you fill your accounting needs. The features are extensive, easy to use, and great for nearly all industries. The basic plan is more than enough for many small business needs

Akaunting – Free Accounting With Great Mobile Support
This software, with a name that most spell-checkers are going to lose their marbles over, is an amazing tool for accounting on the go. Like others on this list, it offers an array of accounting tools and features to its users at no cost. Where it stands apart is in the comprehensive mobile support and design consideration.

Akaunting is open-source software designed to help you stay accurate while you are mobile.  Businesses that need to track expenses, profits, and invoices on the go will love the design. The software works on tablets and mobile phones. 

iOS, Android, and Windows devices are all supported. The apps are entirely free to download. Mobile makes keeping track of receipts and creating quotes on the go easy and more convenient.

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