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Every business needs accounting software, but not every business can (or should) spend a fortune. Here are the cheapest accounting software options for businesses of all sizes.
WRITTEN & RESEARCHED BY
Editor & Senior Staff Writer
UPDATED
Every business should use accounting software, but what if you’re on a tight budget? The good news is that you don’t have to pay a high monthly fee to track your income and keep your business and personal expenses separate. In fact, you may not have to pay anything at all for the best accounting software.
In this post, we’re breaking down the four best cheap accounting options for small businesses. Whether you run a small business and plan to scale in the future or simply do some freelance work on the side, this list has something for everyone.
Learn More About Our Top Picks
| Company | Best For | Next StepsBest For |
|---|---|---|
Wave
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Xero
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ZipBooks
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QuickBooks Solopreneur
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Read more below to learn why we chose these options.
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The best and cheapest accounting software should offer basic accounting features and no long-term contracts at a competitive monthly price. It should also be easy to learn and use and offer good support resources.
Here are our picks for the best cheap accounting software:
| Pricing | Supported Users | Best For | Accounting Method | |
|---|---|---|---|---|
| Wave | $0-$16/month | Unlimited | Freelancers & small businesses with unlimited users | Accrual & Cash Basis |
| Xero | $20-$80/month | Unlimited | Medium to large with unlimited users | Accrual & Cash Basis |
| ZipBooks | $0-$35/month | Unlimited | Ideal for small businesses with growth potential in the near future | Accrual & Cash Basis |
| QuickBooks Solopreneur | $20/month | 1 | Freelancers or independent contractors | Cash Basis Only |
Accounting Method
Accrual & Cash BasisPricing Range
$0-$16/monthBusiness Size
Freelancers & small businesses with unlimited usersPros
Cons
Free accounting software usually limits features or has an outdated, hard-to-navigate interface, but not Wave. Wave takes the top spot as the overall best cheap accounting software because it's easy to use (even if you've never used accounting software) and offers basic accounting features for unlimited users -- all at no cost.
While Wave is a great option for smaller businesses and freelancers, it lacks the scalability and advanced features larger businesses with more complex accounting needs would want. Still, for basic accounting features wrapped up in one modern, easy-to-use package, Wave simply can't be beat.
Accounting Method
Accrual & Cash BasisPricing Range
$20-$80/monthBusiness Size
Medium to large with unlimited usersPromo: Try Xero with 90% off for six months when you sign up via our link. No promo code required. Claim your discount
Pros
Cons
If you need a scalable accounting solution that grows with your business, Xero is an excellent choice. Xero comes loaded with features, and while there is a learning curve, numerous support resources make it pretty easy to learn the software. Xero also integrates with an impressive 1,000+ apps and software.
Unlike some of the other options on this list, Xero doesn't offer a free plan. However, it does have three pricing plans starting at $20/month. These plans grow with your business and are priced competitively when compared to similar software options. Best of all, you don't have to worry about paying for higher-tier plans or add-ons for additional users -- all Xero plans support unlimited users at no extra cost.
Accounting Method
Accrual & Cash BasisPricing Range
$0-$35/monthBusiness Size
Ideal for small businesses with growth potential in the near futurePros
Cons
One area where many accounting software programs fall short is customer support -- but this isn't the case with ZipBooks. ZipBooks offers excellent customer support, which earned a nearly perfect rating in our complete review.
That isn't all that ZipBooks offers. ZipBooks has an easy, intuitive interface, a solid set of basic accounting and bookkeeping features, and a free plan to help customers save money. While it does lack add-ons like payroll and the inventory feature is as basic as it gets, ZipBooks is a great choice for businesses that want affordable accounting software without the bells and whistles (and the pricing that comes with).
Accounting Method
Cash Basis OnlyPricing Range
$20/monthBusiness Size
Freelancers or independent contractorsPros
Cons
If you're a freelancer or independent contractor who doesn't need the features (or monthly cost) of QuickBooks Online, QuickBooks Solopreneur is worth a look. QuickBooks Solopreneur allows you to easily monitor and track business income and expenses, send invoices, and accept payments.
QuickBooks Solopreneur is especially great for taxes, offering everything from automatic mileage tracking to expert tax support. Add in ease of use, a mobile app, and a competitive monthly price, and it's easy to see why this is a solid choice for one-person businesses.
Get Started With QuickBooks Solopreneur
Merchant Maverick has been researching and reviewing accounting and invoicing software since 2013. Our writers have tested over fifty different accounting programs, including online apps and locally-installed software. In each review, we evaluate pricing, features, ease of use, customer service, and user reviews.
Read more about how we rate accounting software.
When comparing different accounting software apps, we consider many data points, including relative pricing, the number of standard accounting features available, invoicing and quote creation, the presence of a client portal, and time tracking tools. Our lists of the best accounting programs include only those we’ve deemed worthwhile from multiple vantage points, and often share qualities such as widespread accessibility, tax support, advanced reporting tools, numerous niche features, and competitive monthly pricing.
We spend an average of 10-15 hours researching and updating each one of our lists, making sure the accounting software included meets our internal standards for quality and reputation.
Before choosing accounting software, make sure to consider more than just pricing. Does it have the features you need? Are you a beginner who needs software with no learning curve? Do you want something that grows with your business?
Once you’ve determined what your business needs, be sure to sign up for free plans or free software trials and demos before committing. While it’s important to get something that fits your budget, it’s just as (or even more) important to get something that’s going to work for you and your business.
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The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation.
Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships.
Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.
