Free Accounting Software For Small Businesses – The Top 4 On The Market

Trying to get your bookkeeping in order?  We rounded up the four best choices (in our opinion) of free accounting software for Australian small businesses.

This list should help you choose the right platform so that you can keep track of all those boring finances.

Part of any good business strategy is a financial plan, and good record keeping is critical to ensure you stick to that plan.

However many small Australian businesses don’t have the cash flow to hire a bookkeeper.

And do you really want to pay hundreds of dollars for comprehensive accounting software? Not to mention the training it takes to learn how to use it.

The top free accounting software for Australian small businesses are, Zipbooks, Slickpie, and Akaunting. Below you will find a summary of each platform along with the feature overview.

Wave Accounting

(Please note wave will no longer be offered in Australia. Please see below for alternative options)

Wave free accounting software

If you’re looking for free accounting software for Australian small businesses then it’s hard to go past wave. Wave is a top-rated yet free accounting tool that allows small businesses to manage their routine expenses, balance invoices, and payments with ease.

Send professional invoices, track the status of payments.
You can also link Wave to you bank accounts it has everything you need when you’re just starting out.

Wave even allows you to accept credit card payments. It can also help a business generate sales & tax reports, balance sheets, and account payable/receivable reports.

Wave works like a personal budgeting tool, using a dashboard for routine finance management. 

The app even allows you to take a snapshot of a receipt and upload it to your accounting in seconds.

There are paid subscriptions of Wave that offer more in-depth functions and have fewer limitations but the free version is really impressive.

And unless you have a team of people working for you, the paid version is probably overkill at this point.

Zipbooks Accounting

Free zipbooks accounting software

Zipbooks is another great free accounting software for Australian small business. This can be set up for free, but like many others has paid versions with more in-depth features and flexibility.

The free version allows users unlimited bookkeeping, customers/vendors and invoicing while providing the ability to connect directly to your bank account.

Zipbooks make reporting and bookkeeping a breeze with its intuitive colour-coding, auto-categorization and a full suite of reports.

It also has automated payment reminders and billing features to keep you on top of your day to day finances. Zipbooks even assigns a health score in relation to your finances to keep you aware of how you are doing.

Software Features

  • Intelligence engine
  • Vendor creation and management
  • Bank reconciliation
  • Auto-categorization
  • Chart of accounts
  • Billable expenses
  • Credit card processing
  • Estimates & Invoices
  • Manage and create customers

  • Save Receipts
  • Multi-currency support
  • Recurring billing
  • Reminders
  • Saved Items
  • Team Management
  • Time Tracking
  • Tagging
  • Reminders

Software Pricing

Below you will find the Zipbooks pricing in case you wish to upgrade. While this is a free accounting software you can also extend its functionality and usage if the need arises.

Plan TypeFunctionality Price
Free PlanHas all the basic features a sole trader of single small business may need. FREE
SmarterAddition of extra features like recurring and custom invoice among others$15 pm
Sophisticated All features listed on the website – Full Feature set$35 pm
AccountantCustom plan creation – Get in touch for a quoteCustom Price

Slickpie Accounting

Free SlickPie accounting Software

Next on the list of free accounting software is Slickpie. Like many of the other accounting platforms, SlickPie has both free and paid versions which have more in-depth features and functionality.

This software is actually designed for the small business owner by a small business owner.

If you are searching for a basic, simple to use and handy, then this accounting tool is worth a look.

This tool allows business owners to manage daily expenses, generate detailed reports and create straightforward invoices without hassle.

Similar to Wave you can scan receipts and it will pull the data automatically to make your bookkeeping a breeze.

A new player on the block SlickPie has only been around a couple of years but its clean intuitive interface makes it a must to check out.

Software Features

  • Automated Receipt Data capture
  • Create and send Online Invoices
  • Multi-Currency
  • PayPal, Stripe, and Credit Card Processing
  • Create Quotes and Estimates
  • Track Expenses
  • Manage Bills
  • Track Sales Tax
  • Get Live Bank Feeds
  • Reconcile Bank Transactions
  • See Financial Performance Reports
  • Recurring Invoices and payments
  • Set Up Late Payment Reminders
  • Upload and Attach Files

Software Pricing

Below you will find a pricing table should you need to upgrade in the future. Although SlickPie is a free accounting software, you may want to extend its capabilities as you grow.

Plan TypeFunctionality Price
Starter PlanAll features listed above – Up to 10 Companies, Email SupportFREE
ProAll features listed above – Up to 50 Companies, Email & Phone Support$39.95 pm



Akaunting is open source free accounting software designed for small businesses to manage their finances and stay on top of their cash flow.

With a great looking user interface this a perfect option for someone who has never used accounting software before.

This software has all the important features such as Invoicing, accepting online payments and keeping track of expenses.

This is a tool that competes with many paid solutions in the market.

With over 180 thousand users, dedicated support, and free lifetime updates we believe this is another solid free accounting app for Australian small businesses.

You can choose to use this software in the cloud like many of its competitors or you can download the software locally to your computer.

Software Features

  • Online free accounting software – Open source
  • Customer creation and management
  • Invoice creation
  • Credit card processing
  • Vendor creation and management
  • Billable expenses
  • Accept online payments and create a customer portal for bulk payments
  • Recurring payments
  • In-depth reporting
  • Tax rates and discount functionality

Software Pricing

Below is a pricing table should you want to purchase an add on to one of the paid options. Although Akaunting is a free accounting software you can extend its functionality by paying for an app in their app store.

In this table, we have listed some of the most popular you may want to use.

These apps are created by a community of developers that help support Akaunting. The reason for this is that the software is open source and completely free of course.

App NameFunction Price
ReceiptsReceipt data capture by photo$49
Live Currency Live Currency conversion $39
Inventory Inventory and stock tracking$69
Paypal ExpressAllows Customers to invoice pay by Paypal$49


Fresh Books


FreshBooks Partner Screenshot

If you are looking for a more feature-rich paid option for your small business accounting then Freshbooks is a must to check out.

They are currently offering 60% off for 6 months plus 10% off for the year. They also have a free trial so you can see if the platform is a good fit for your business.

Software Features

  • Invoicing
  • Customer creation and management
  • Time tracking
  • Expenses
  • Credit card processing
  • Projects
  • Preview Before Sending
  • Multi-Currency
  • Multi-Language Invoices
  • Estimates
  • Apple Pay
  • Recurring payments
  • Payment Reminders
  • In-depth reporting
  • Mobile App
  • Automatic Late Fees
  • Inventory Tracking

Account Software Feature Comparison

Below is a comparison of the most popular accounting software features. These features are compared only in the free plans.

If you are looking for a more feature rich paid option please check out FreshBooks Here.
Invoices tick tick tick
Multi-Currency tick tick tick
Paypal Integration tick tick tick
Stripe Integration remove tick remove
Square Integration tick remove remove
Receipt Storage tick tick tick
Receipt Auto Capture remove remove remove
Quotes & Estimates tick tick tick
Expenses tick tick tick
Bills remove tick tick
Recurring Invoice remove tick tick
Vendor management tick tick tick
Bank Account Connection remove tick remove
Tax Rates tick tick tick

We hope our roundup of free accounting software helps you stick to your financial plans and achieve your business goals. For more free tools and products subscribe to our blog and we will let you know as soon as we come across them.