Best Accounting Software: Free & Premium List 2024

Managing Accounts is an extremely important part of an organisation. Every business, small or big needs an accounting software to manage and empower their daily accounts. In this blog, we shall provide you a list of the best accounting software and apps, both free and premium versions.

We’ll emphasis the ones that you can use in your day to day accounting. Using a full blown traditional accounting software across the board seamlessly can be a daunting experience. So, we have carefully chosen easy to use applications with intuitive interface.

Here goes a handpicked list of some of the popular, useful and the best accounting software in the world. We have included both Free accounting software as well as premium ones to make our list more comprehensive.

Let’s get started and dig deep into the features of each of the accounting software or apps separately.

5 Best Accounting Software in World: Top List 

1. Wave Apps

Business apps by Wave are one of the most advanced and user friendly apps. They are used by millions of users across the globe. In fact, Wave provides a full suite of accounting, invoicing, receipts, payments and Payroll all at one place. Hence, this makes it much more useful than a typical accounting app.

Above all, it offers a really generous free version for small business owners to get started.

Wave Apps: Features

Here is a look at salient features of Wave:

  • Setup: Cloud/Saas, no Setup Fees.
  • Pricing: Account, Invoicing and receipts module is Free of Cost !! Their business module is based on providing payroll and credit card processing services in select countries.
  • Accounting: Payables, Receivables, Expense and Revenue Tracking, Multi Currency, General Ledger.
  • Payroll: Employee Management, Salary Management.
  • Invoicing and Receipts: Invoices, Payment Collection, Recurring Payments, Receipts.
  • Tax Management: Custom Tax Structure as per the territory can be configured.
  • Mobility: Invoicing, Reports, Receipts and Payments apps available on both iOS and Android Platform.
  • Support: Business Hours, Available online.

Here’s a small quiz to test your accounting knowledge:

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Quiz on Accounting Concepts & Principles 

Created on By admin

MCQ ON Accounting Concepts with Answers

1 / 10

  1. The publication or presentation of financial statements should not be delayed according to the

2 / 10

  1. The Matching concept matches

3 / 10

  1. Liabilities, expenses and losses should not be understated and revenue, profits and assets not to be overstated, according to

4 / 10

  1. According to concept, the proprietor pays interest on drawings.

5 / 10

  1. For Every Debit, there’s an equal credit as per

6 / 10

  1. According to concept, a business enterprise is considered separate from its owners.

7 / 10

  1. Revenue Recognition Principle states to

8 / 10

  1. The life of a business can be divided into equal time periods as per the

9 / 10

  1. A business or economic entity concept applies to

10 / 10

  1. Under the Accrual Concept of Accounting, revenue or expenses are recorded when:

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Your score is

The average score is 54%


2. Fiskl

Fiskl is also a multi purpose software helping businesses do their day to day accounting, invoicing, expense and income tracking, quote and expense reports. This is best tool for low to medium level accounting proficiency users. Since it removes a lot of accounting jargon and helps you do things simplistically.

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Fiskl: Features

Here are the salient Features:

  • Setup: Cloud/Saas, no Setup Fees, Comes with a Free trial after that.
  • Pricing: Flat pricing of 7GBP per user per month.
  • Accounting: Payable, Receivables, Expense and Revenue Tracking, Multi Currency.
  • Invoicing and Receipts: Invoices, Payment Collection, Receipts
  • Mobility: Provides extremely handy Mobile apps on iOS and Android.
  • Support: Business Hours, Available online.

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This is regarded as one of the best scanning software for receipts and expenses.

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3. GnuCash

No free or premium accounting software list is complete without the mention of GnuCash.

A free and open source account software, GnuCash has been around for quite some time. This is used by many business world wide. Since, the software is open source and free, it is not for people who want ready-made solution with built-in support.

The look and feel might look a bit internet 1.0 types but the application does accounting really well.

Features of GNUCash :

  • Setup: On Premise. It is an executable that needs to be downloaded and executed on the system of the user.
  • Pricing: Free Forever
  • Accounting: Payable, Receivables, Expense and Revenue Tracking, Multi Currency, Mutual Fund and Stock portfolios
  • Mobility: GnuCash offers a great mobile app for android
  • Support: Online Forums, Self troubleshooting.

4. Slickpie

Slickpie is another small business accounting software made for business owners to make their day receipts and transactions easier to manage. This integrates really well with live bank feeds thereby reducing the time required to manage the account piece of the business. On top of it, the application comes with a really generous free plan to get you started.

Slickpie: Features

  • Setup: Cloud/Saas, no Setup Fees
  • Pricing: Comes with a Free plan having restriction on number of receipts per month. Its 9.95$/month on the paid plan.
  • Accounting: Payables, Receivables, Expense and Revenue Tracking, Multi Currency, Paypal, stripe and credit card processing.
  • Invoicing and Receipts: Invoices, Payment Collection, Receipts.
  • Mobility: Mobile access to data on Android and iOS both.
  • Support: Business Hours, Available online.
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5. Aqilla

Aqilla is one of the oldest vendors around in the accounting software market. It has a popular multi currency solution that has most of the traditional and modern accounting features. The pricing of aqilla is a bit steep. But, given the reputation of the company, it is worth a try.

Aqilla: Features

  • Setup: Cloud/Saas, no Setup Fees
  • Pricing: Pricing starts from $10 and goes upto $70 per user per month. This primarily depends upon the kind of features and setup that you want.
  • Accounting: All the account features are available like Payables, Receivables, Expense and Revenue Tracking, Multi Currency, Paypal, stripe and credit card processing. However, the feature set will decide the pricing tier that you will get. So, one has to be really precise with their requirements.
  • Invoicing and Receipts: Invoices, Payment Collection, Receipts etc. all are available at varied pricing tiers.
  • Mobility: Mobile access to data on Android and iOS both.
  • Support: Business hours, Available online.

This was our exclusive list of some of the commonly used and best accounting software to consider. Do you have hands on experience with any of the above accounting software? If yes, this will surely give you an edge over others while appearing in your next accounting interview.

We hope you liked our list of the best accounting software. Which accounting software have you been using? If you would like us to add some software or application worth mentioning in the list above, don’t hesitate to drop a comment or e-mail. We are always working on expanding this list in the best possible way.

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