10 Best Free Accounting Software 2020

All successful businesses need an organized way of managing books. And anybody who has been into it knows that it’s not an easy task. That’s why we have picked some really easy, effective, and free accounting software ideal for your business. A perfect free accounting software delivers free bookkeeping services with no compromise in quality and features.

We have sorted out such 10 free accounting software that promises unparalleled accounting services for every business ranging from startups to large entities.  

SimpleAccounts is the one-stop solution for every accounting need. It serves small businesses, entrepreneurs, freelancers, and large organizations to get successful. By bringing a disruptive innovation of Blockchain Accounting like never, SimpleAccounts gives a breezy outlook to every business finances out there. From customer invoicing to getting business reports, SimpleAccounts is the perfect antidote to your accounting headache. 

Brightbook is the perfect bookkeeping solution for small business owners, freelancers, and contractors. It’s like all the best bits all rolled into one; create and send professional looking invoices in any currency, track your bills, and spend more time doing what you love. Brightbook is changing the way people feel about accounting. It’s for people, not eggheads. Brightbook makes bookkeeping an easier, less time-consuming, and more enjoyable process. And because it’s online you can use it anytime, wherever you are. 

3. Manager

Manager is the most comprehensive free accounting software. It has all the features you’d expect from an accounting package. Manager is free accounting software for small business available for Windows, Mac, and Linux. The database format is universal across all operating systems which means an accounting file created on Windows can be easily transferred to Mac OS X or Linux if the need arises. 

SlickPie is designed to fit modern small businesses needs by doing all the heavy lifting work to deliver the most delightful expense management experience. Everything you need for your entire business accounting is here. From straightforward invoices to detailed reports, SlickPie is all you need to keep your business finances always healthy. MagicBot by SlickPie is an automated receipt data entry tool that enables businesses to streamline their expenses by automatically pulling information from receipts and converting it into digital data. 

5. Wave

Wave’s easy-to-use accounting software can connect your bank accounts, sync your expenses, balance your books, and get you ready for tax time. It enables to take control of your finances with the best accounting software for small businesses. Track everything and connect to other Wave products such as payroll, payments, and invoicing. Everything is automated and in one perfect package like unlimited income and expense tracking, adding unlimited partners, collaborators or accountants, fully functional double entry system and more. 

Simple, beautiful, and powerful, ZipBooks gives you the tools and intelligence to take your business to the next level. With Zipbooks, you don’t have to have an accounting degree to keep immaculate records for your business. ZipBooks provides you with a smart way to track all your transactions, keep on top of what you owe and who owes you, and figure out how much your business is actually making. 

Akaunting is an online accounting software that has all the tools you need to manage your money, from invoicing to expense tracking to accounting. Thanks to its modular structure, Akaunting provides an awesome App Store for users and developers. Akaunting is an Open Source project with contributors from all over the world. Akaunting is hosted on GitHub and open for everyone to contribute. Akaunting gives free access to every user.That’s right, completely Free. No setup fees. No strings attached. No hidden charges. 

Sunrise provides solutions that help freelancers, solopreneurs and small business owners grow and succeed. The free software helps business owners manage invoices and track the health of the business. Most business owners don’t want to dive into bookkeeping which is why, for a monthly fee, Sunrise provides professional bookkeepers to handle it. Sunrise is a Lendio company. Lendio is focused on fueling the American dream. It is a free online service that helps business owners find the right small business loans within minutes. 

This free invoice software does everything a small business needs, from calculating to formatting, auto-completing and emailing invoices. It provides all required billing features making it just perfect for small businesses and freelancers. Sleek Bill can help you design wonderful documents that can make your business stand out. The professional invoice designs use all elements and formatting settings to help you attain a great result. 

10. GNUCash

GnuCash is personal and small-business financial-accounting software, freely licensed under the GNU GPL and available for GNU/Linux, BSD, Solaris, Mac OS X and Microsoft Windows. Designed to be easy to use, yet powerful and flexible, GnuCash allows you to track bank accounts, stocks, income and expenses. As quick and intuitive to use as a checkbook register, it is based on professional accounting principles to ensure balanced books and accurate reports. 

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What is blockchain accounting? The pathbreaker in bookkeeping

Blockchain has evolved into a disruptive technology leaving other record-keeping technologies in the dust. Initially designed for the mining of digital currency, blockchain technology was later applied to several other potential domains like banking, investment, voting and more. And now, it’s bringing a paradigm shift in the face of accounting with its reliable features.   

Simply put, blockchain and accounting is a perfect mix to bring effective financial operations. Now being in the incubation period, unleashing the full potential of blockchain can revamp the accounting management in the upcoming years. Let’s see how the integration of blockchain with accounting can bring leaps and bounds to businesses.   

What is blockchain?

Blockchain is a digital record-keeping system that records and distributes assets in different places at the same time. Blockchain can only be updated by consensus between users in the system, and once new data is recorded it can never be removed.  

Blockchain in accounting

As accounting demands for reliable distribution of ledger, blockchain becomes the mechanism for achieving the same. Accounting demanded something like blockchain technology and blockchain serves as an ideal for accounting. Let’s cut to the chase, it had to be for accounting that this revolutionary blockchain technology needed to be discovered rather than cryptocurrencies.  

The blockchain is the financial challenge of our time. It is going to change the way that our financial world operates.
– Blythe Masters, Executive

Though there were disputes that the advent of blockchain could replace accountants, in another sense it is actually a blessing in disguise for the accountants. It allows them to hit the nail on the head when something goes wrong.   

There is a plethora of solutions by which blockchain technology can contribute to accounting,  


Blockchain can be a binding component that enables the data to be distributed securely along with different points. The cutting-edge technology as it contains ‘blocks’ makes it almost impossible to tamper the data in any way. Each block makes sure that they verify the data stored and shared. Also ensures that no invalid data enters, or no existing data loses.

As it is cryptographically stored and shared through systems, it promises high-level security without being handed over to a third-party. Thus, your accounting data is as secure as in a locker.  

Keeping track of data

A prominent feature of blockchain is its traceability. Each time an activity takes place, blockchain records an audit trail of it. This helps users to keep track of their activity or data, detect frauds, and experience security. Blockchain determines the validity or authenticity of the source of data, preventing any kind of duplicity.  


It’s not surprising to think that blockchain, such a bleeding-edge technology may cost a fortune to get deployed, well in fact, it’s just the opposite. Blockchain actually cut costs by serving all the purposes in one place. Blockchain service saves your money by disabling third-party interference, keeping track of your data, giving better data analytics, and more

Time saving and Efficiency

Not to mention the speed and efficiency of blockchain integrated accounting. The faster it is, the more efficient it is. Enabling smart contract can replace traditional ledgers by automated multiple processing, including payments, reconciliation, tax filings, etc. The traditional way of auditing by collecting, organizing, validating, and evaluating data is over and done with. You save time as you have a minimal number of documents to go through. Blockchain offers real-time reports for the users and the auditors to take effective decisions.  


Let’s wait and watch blockchain taking over the accounting empire to give a user experience like never.  Every business is on a pursuit to adopt blockchain technology and integrate with their systems, especially in the financial domain. 


Introducing one-of-a-kind blockchain accounting software soon.
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Invoicing Explained in less than 250 words

For every business, from startups to conglomerates, invoicing is the centerpiece of their proper functioning. Let’s breakdown this term to its simpler form.  

An invoice is nothing but a bill or document that the seller sends the buyer notifying the payment terms. Payment terms may include the transaction list, payment amount and date, sometimes due amount to be paid too.  

Invoice is an itemized bill for goods sold or services provided, containing individual prices, the total charge, and the terms. 
– Dictionary.com

Invoicing is a significant part of business as it is the element that enables quick payment of the services or products provided by them.   

Invoicing is important for both the sender and receiver. For the sender it’s a provision for recording statements, tracking, and speeding up the payment. The recipient on the other hand gets the detailed itemized record. There are different invoices created by business for its various purposes.  

Standard invoice – Most common type issued by businesses, industries.

Credit invoice – Issued for noticing a client about an offer, discount.

Debit invoice – Shows the balance amount to be paid by the client.

Pro-forma invoice – Invoice issued before completing the work stating the estimate.

Interim invoice – Intermittent invoices sent to the client during a large project.

Creating and sending invoices can be done in a matter of seconds. It also allows you to manage your business accounting in a breeze.  

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Benefits of Cloud Accounting and the Businesses that need it

Cloud is the new sunshine, believe it or not! The advent of cloud accounting has been a paradigm shift in the world of business. It has been a blessing to many small businesses to work competently and flourish among their competitors.

From a large-scale company to solo entrepreneurship, effective accounting is necessary for a profitable business. The trends in accounting are being changed day by day, it is essential to follow them to keep up the pace with the competition.

Here’s how cloud/ online accounting benefits your business.

Cost Efficiency

Going the traditional accounting way by installing a program and setting up a server can cost you a fortune. Rather, online accounting is more economical and can be your go-to bookkeeping for the business.

Cloud Computing

Better Team Collaboration

Another humongous advantage of cloud accounting is that it allows users to manage the account simultaneously. No need of scheduling a meeting and reviewing it, instead the authorized users can log in and get insights about the business quickly.

The Omnipresence

The ‘anytime-anywhere’ aspect of cloud accounting gives it a trump card over traditional accounting. Even if you are on a holiday or travel, you can absolutely take your business along with the cloud feature. Just make sure you have an internet connection or a mobile application, you have your business status 24/7.

Always in Update

Cloud accounting keeps the application updated constantly. It avoids all costly and prolonged updates every single time, instead, it automatically gets updated through the software team.

Savior during digital mishaps

Data loss can be a huge concern for every person who handles accounting. Here is when cloud accounting comes to the rescue. The users can be completely worriless while using cloud software as it stores and makes the data available at your need. No natural disasters or PC crashes can affect your data.

Everything is moving online, everything is moving with the cloud, it is vital that your accounting is at the forefront of technology

– Steven Tuckwell. Director, 1st Cloud Accountants

There is a myriad of advantages of online accounting over traditional accounting. Though some big companies prefer to have their data on-premise over security concerns. However, startups and small business have found their feet in cloud accounting.

Check below if yours fall into those businesses which need cloud accounting for successful running.

Small budget business

If you have initiated your business with a small budget but looking forward for a higher profit, cloud is the one for you. Accounting is an inevitable part of the business, choosing the right accounting method is what your business is depended upon. Cost effective online accounting helps small budget business to work both economically and progressively.

Remotely working employees

Cloud accounting is ideal for a company whose employees are working remotely. Here, the permitted employees can manage their financing concurrently from anywhere. This helps the business to run without any hassles.

Business with inadequate security

Most of the startups may not be equipped with highly secured on-premise firewalls. It is high likely that any employee could sneak into the data or even a virus threat could distort it. Cloud accounting also benefits colossally during a PC crash or a gadget mishap. It gives the possibility of better security and efficacy in managing accountings.

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