Bookkeeping Software: Free and Ideal for Small Businesses

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    If you own a small business, you might be thinking about purchasing bookkeeping software. The first thing you should consider is if your business has the resources required to maintain this kind of system on its own. If so, you have a lot of free solutions available to keep your finances organized and stress-free.

    If not, take into account hiring experts that have firsthand knowledge of bookkeeping software for this task. This will give you more time to concentrate on other business-related tasks while still making sure that all financials are properly accounted for.

    This blog post is ideal for you if you're looking for bookkeeping software. We will talk about why Australian small businesses should utilize free and simple accounting software.

    Compared to time-consuming, expensive accounting software solutions, classic bookkeeping techniques like pen and paper or even an Excel spreadsheet have several advantages. These solutions not only help your company save money, but they also provide you greater control over how much data you need to monitor on a monthly basis.

    The most well-liked free bookkeeping program for small businesses in Australia will be covered in this article. This lists the titles, characteristics, and advantages of each program. In order to save time and avoid wasting it on trial versions, it also offers a thorough comparison of all five apps.

    Bookkeeping Software Free To Use

    Here are a few different brands of bookkeeping software that is accessible to everyone.

    These products are actually free; they don't have that obnoxious "free trial period," and they're free for however long your small business requires them or for as long as you're a student looking to hone your bookkeeping abilities.

    These businesses are able to offer their bookkeeping software for free because they generate revenue from personalized services, upgrade add-ons, and other sources. These free programs compare extremely favorably to the pricey and sophisticated bookkeeping software I have used for many years.

    Are you attempting to organize your bookkeeping? We compiled the four top free accounting software options for Australian small businesses. You can choose the best platform from this list to manage all those tedious financial tasks.

    Any sound business strategy should include a financial plan, and maintaining accurate records is essential to ensuring that plan is followed. However, many Australian small businesses lack the funding necessary to hire a bookkeeper. And are you willing to spend several hundred dollars on thorough accounting software? Not to mention the training required to become proficient with it. A description of each platform and a list of its features are provided below.

    What Is Accounting Software?

    Typically, accounting software is made to compute, track, and report financial transactions. It aids in managing an organization's finances in a variety of ways, including keeping track of assets, liabilities, income, outlays, and other indicators.

    For management decision-making, accounting software can also be used to generate reports in a number of formats. As a result, accounting software is frequently divided into general-purpose, industry-specific, and special-purpose categories.

    Software for general-purpose accounting is made to accommodate the requirements of numerous businesses and organizations. Accounting software that is specialized for a certain sector or business is created to satisfy those demands.

    Accounting software designed for a certain purpose offers specialized features that are unnecessary for most businesses. We cover solutions for general use in this post on free accounting software.

    What Does Accounting Software Help With

    The advantages to your company are apparent, regardless of whether you select free accounting software or prefer to pay for a more feature-rich solution.

    Although there are many other uses, we go into more detail about a few of the top three below.

    Bank reconciliation

    Accounting software can be used to reconcile bank accounts by comparing recorded entries in one account to the equivalent transactions on the bank statement. It is divided into two parts:

    • Matching up deposits, checks, electronic transfers, and other transactions with the journal entries they correspond to
    • Matching withdrawals and other transactions to the diary entries that relate to them

    This procedure makes sure that all deposits and withdrawals have been recorded in the company's accounting records, ensuring that no transactions are left out.

    For accuracy, a bank statement must be reconciled on both sides.

    Sending Quotes

    Giving customers the option to pay you using a credit card, an EFT, or a merchant account by sending them quotations and bills. These payments can be tracked by accounting software and associated with information about your clients.

    Tracking Expenses

    You may keep track of all your expenses on a decent platform, and when necessary, you can summarize them for your tax advisor. You might even be able to take a picture of your receipts and have your accounting software automatically record the information for you, depending on the option you select.

    Why You Should Use An Accounting Software

    Accounting is one of the responsibilities you have as a business owner on a daily basis. Additionally, if done manually, the work can become quite onerous. So, accounting software steps in to save the day here.

    Accounting software may be of great assistance to businesses. From creating invoices for clients to obtaining thorough tax reports, accounting software can handle it all. over the globe. A lot of people all over the world have benefited from utilizing accounting software.

    The application of computerized accounting has expanded as costs have come down and the software has gotten progressively simpler to use, particularly for persons without accounting understanding. Aside from that, using accounting software has a number of advantages.

    Saves Your Time

    The most crucial factor in business is time, particularly when you are first starting out. The overall method has been made simpler by the use of accounting software. This simplicity frees up time that could be used in other areas.

    It helps with taxes

    You can easily gather and export documents and receipts to your accountant using accounting software. Additionally, keeping accurate records makes it simpler for your accountant to do your taxes.

    Some software also automatically formats invoices in accordance with tax office guidelines so you won't run into any issues during tax season.

    Business Reports

    You need your invoices, transaction history, stock information, and other items that are included in your overall business report.

    Making reports while seated at a desk with paperwork in front of you might be taxing. These reports are prepared for you by the aSo accounting system on its own.

    Cuts costs


    Over time, automating your accounting jobs will cost you less money. It takes care of all books, invoices, and transactions without the need to hire a bookkeeper or add extra hours to their shift. Time is money in company, and streamlining this process significantly cuts down on bookkeeping time.

    Additionally, the software has low monthly or yearly fees for subscription-based pricing models. You receive regular updates, support, and resources when you subscribe to a plan, allowing you to concentrate on managing your business.

    Accuracy and Speed:

    A higher level of accuracy and speed are two of the biggest advantages of accounting software. Additionally, it offers real-time information that facilitates business transactions.

    Things To Consider Before Choosing An Accounting Software

    However, there are certain crucial factors that you may take into account before picking accounting software for your company. The sheer number of programs and providers makes it difficult to compare accounting software, much alone choose a package to meet your demands.

    First and foremost, it's crucial to exercise caution while deciding which alternative to use out of the numerous ones offered nowadays. There is no "one size fits all" solution for your particular organization, but it is crucial to understand your requirements through business evaluation and to be aware of critical elements to take into account for the software.

    • Features: Because not all software solutions are made equal, you should examine whether the product's features match your demands with the aid of an accountant.
    • Overall value: Consider the total worth of the software based on the features and functionalities it offers.
    • Scalability: Consider scalability to ensure the software will expand with you as your needs become more demanding because growth is one of any business' aims.
    • User-friendly: Consider how long it will take you to become familiar with the software. To install the system right away, it is crucial to select one that is user-friendly.
    • Integrations: The system's functionality and basic capabilities can be improved through a wide range of integrations, which will help you make the most of what it can do.

    Additionally, accounting software capability varies from product to product. Because of this, larger companies may decide to create a tailored solution that combines a tremendous quantity of data from numerous departments.

    Bookkeeping Software Free To Use

    Wave Accounting

    Since it is an online tool, it may be used on any computer that has an internet browser.

    For small firms who sell products or provide some form of service but don't need to maintain inventory or can do so with another program, Wave Accounting is a useful accounting tool.

    It's difficult to beat Wave if you're seeking for free accounting software for enterprises, Australia-based companies excluded.

    With Wave, a highly regarded and cost-free accounting solution, small businesses can effortlessly keep track of ordinary spending and balance invoices and payments.

    Send expert invoices and keep track of payments. Wave provides all the features you require when you first start out, and you can connect it to your bank accounts as well. You can even accept credit card payments with Wave. Additionally, it can assist firms in producing balance statements, accounts payable/receivable reports, and sales & tax reports.

    Wave utilizes a dashboard for everyday financial management in a manner similar to a personal budgeting application. You can even use the app to quickly upload a receipt to your accounting by taking a picture of it.

    Although Wave's paid memberships have fewer restrictions and more advanced features, the free version is still very strong. Additionally, the paid version is definitely overkill unless you have a team of employees.


    There are desktop and cloud versions of Manager. While the cloud version requires a membership, the desktop version is free. The desktop version is an excellent option because it offers all you need if you only require one user and don't need to access it when not at your computer.

    Manager is a piece of open-source software that enables users to be up and running shortly after downloading. It runs on Windows, Mac, and Linux platforms.

    It is not necessary to spend hours configuring Manager, entering opening balances, setting up the chart of accounts, and selecting the financial year dates before you can use it, unlike most traditional software companies. Instead, it is straightforward to use, quick, and uncomplicated.

    What you get with the Manager Desktop version


    When you can receive bookkeeping software for free in a superb program like Manager, why spend a fortune on traditional accounting programs? Simply click the image below to access Manager's download page, which is completely free!


    Pandle is a relatively new piece of software created in the UK, however it can be used globally and has sales tax capabilities that update your preferred country.

    Pandle has two strategies as of the time this blurb is being written:

    • Forever Free
    • Pro Version - USD$7 per month

    You can use Pandle to see for yourself. A small blue box with the word "Pro" appears next to any features that are exclusive to the paid edition, making it clear what is included in the free version.


    Accounting practice management software called Reckon manages payroll, accounts payable and receivable, invoices, and books. In Australia, small, medium, and big enterprises as well as independent contractors use it. A free trial is also available.

    The setup of this feature-rich accounting software gives small firms a solid accounting experience.

    Cons: For businesspeople who are inexperienced or short on time, it may be more expensive than competing tools and have a high learning curve. Although there is a lack of a comprehensive user manual for setting up additional software modules, it has various integrations.

    5 free accounting apps for small businesses and freelancers
    • Wave. Wave is probably the most popular free accounting app available online. ...
    • Adminsoft Accounts. ...
    • Invoice Ninja. ...
    • GnuCash. ...
    • Pandle.
    Best Free Accounting Software
    • Wave.
    • ZipBooks.
    • GnuCash.
    • CloudBooks.
    • Sunrise.
    • BrightBook.
    • Akaunting.
    • Zoho Books.
    List of Free Accounting Software
    1. Wave. Many small business owners swear by the Wave accounting software. ...
    2. ZipBooks. Get started with its ZipBooks' Starter tier for free to gain access to unlimited invoices to an unlimited number of customers. ...
    3. Money Manager Ex. ...
    4. GnuCash. ...
    5. SlickPie. ...
    6. Zoho Invoice.
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