In today’s competitive business world, managing your finances efficiently is crucial. But even then a research showed that almost 70% of the businesses do not have an accountant. So, this means the business owners manage their accounting on their own. Yes, as many as 64% of the business owners manage their company books. And even more interesting is the fact that almost 26% of the small business owners have next to no accounting knowledge. No wonder why 82 percent of small businesses fail due to poor cash flow management each year. 

So, isn't there any solution to this? Yes, there is. A simple accounting system that anyone can use without any prior accounting knowledge or background. But are there any such simple accounting tools for small business owners? Not many! Because most accounting tools are built in order to streamline the accounting functions of the accountant and not the business owners. There are quite a few that claim to be simple, easy and even free. 

And most of them promise to be the best free accounting software for small businesses. But, how do you choose the right one? Many entrepreneurs quickly realize that not all these claims made by free accounting solutions are genuine. And accounting is not something that you can change quite often.  

Therefore, to make your task easier, we compare the best accounting software claiming to offer free subscriptions in 2024.

Exploring Free Accounting Software Options

1. Wave Accounting

Overview:
Wave Accounting is one of the top accounting software options for small businesses. It offers free invoicing, accounting, and receipt scanning.

Pros:

• Intuitive, user-friendly interface
• Free core features suitable for small businesses
• Seamless integration with banking and credit card accounts

Cons:

• Charges for additional services like payroll and payment processing
• Limited customer support in the free version

Pricing:

• Core features are free
• Payroll services start at $20 per month plus $6 per employee

2. Zoho Books

Overview:
Zoho Books is known for its robust feature set. It provides a free plan for businesses with annual revenue under a certain limit.

Pros:

• Comprehensive tools for small business accounting
• Integrates smoothly with other Zoho products

Cons:

• Free plan is limited by a small revenue cap
• Advanced features require upgrading to paid plans

Pricing:

• Free plan available for businesses with revenue under $50,000 per year
• Paid plans start at $15 per month

3. QuickBooks Self-Employed

Overview:
QuickBooks Self-Employed targets freelancers and independent contractors. It offers a free trial to track expenses, mileage, and invoices.

Pros:

• Simple setup and intuitive design
• Integrates well with TurboTax for tax filing

Cons:

• Free trial is limited in duration
• Full functionality requires a paid subscription

Pricing:

• Free trial available for 30 days
• Paid plans start at $15 per month

4. Xero

Overview:
Xero is a top accounting software with a free trial offering features like invoicing, bank reconciliation, and financial reporting.

Pros:

• Comprehensive feature set suitable for small businesses
• Strong integrations with various business tools

Cons:

• Free trial is time-limited
• Pricing can increase significantly for full features

Pricing:

• Free trial available for 30 days
• Paid plans start at $13 per month

How Khatapana Stands Out

1. Truly Free Mobile App

Khatapana offers a genuinely free accounting experience with its mobile app for one business and one user. Unlike other software, there are no time limits or hidden costs. You get all available features with no restrictions. This makes Khatapana one of the best free accounting software options for entrepreneurs.

2. Affordable Web Version

Khatapana also provides a web version at an incredibly affordable rate of just $3.5 per month. This pricing is a fraction of what other tools charge for similar features. With Khatapana, you gain access to top-tier features without breaking the bank, making it an ideal choice for small business owners.

3. No Hidden Fees

We believe in transparency. Khatapana’s mobile app offers essential features like expense tracking, invoicing, and financial reporting—all without unexpected charges. You get the tools you need for efficient financial management without worrying about hidden fees.

4. Designed for Entrepreneurs

Khatapana is designed with entrepreneurs in mind and not just accountants. The interface is intuitive and user-friendly, making it easy for anyone to manage their finances, even without an accounting background. It’s perfect for startups that need powerful tools without unnecessary complexity.

5. Reliable Customer Support

Khatapana offers dedicated support to ensure users get the help they need, whenever they need it. Unlike many "free" plans that limit support, we prioritize customer satisfaction and success, helping you focus on what matters most—growing your business.

So, What to Choose?

Choosing the right accounting software is essential for small businesses and startups. While many options claim to be free, they often come with hidden fees and limitations. Khatapana stands out by providing a genuinely free mobile app and an affordable web version, offering comprehensive features for efficient financial management.

Whether you’re a startup founder, a small business owner, or an entrepreneur, Khatapana provides the tools you need to manage your finances with confidence and clarity. Experience the difference with Khatapana and see how truly free accounting software can transform your business.