Best Free Accounting Software for Personal Use

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You do not need to spend a lot of money to find great accounting software for your personal use. There is some really good free software available you can download and install on your computer. Free accounting software such as Microsoft Money makes it easy for you to create a budget without paying for expensive programs to help. Most people don’t realize that free accounting software exists, especially free personal accounting software.

That’s probably because it’s aimed at the non-profit sector, or small business. Personally, I’ve successfully set up my own books several times over with these types of free accounting software. I’ll be going through some of the best free accounting software for personal use, and highlighting why they’re not only free but also should be your go-to choice if you need to set up your books. You’ve probably thought about how to keep track of your personal finances, like tracking income and expenses. You may have even searched for free accounting software for personal use. But everyone else has been doing the same thing. And there isn’t a shortage of free and paid software with lots of features — but most people don’t need that much. Instead, it’s better to track your expenses and cash flow with basic tools that are easy to use and understand. In the end, the only person that benefits from a complicated financial system is you because you’re the one who has to maintain it.

From keeping track of your personal expenses and income, to creating invoices and maintaining your accounts, there are many great personal accounting software packages available today. They all meet the needs of different users and specific types of needs. But at the top of this list is Microsoft Excel. Now, don’t think that you can only use powerful Microsoft software as personal accounting software. You can use several different alternatives that are both worthwhile and deliver excellent results for even the most thorough users.

Accounting software is basically the backbone of your business. Everything from payroll to billing to vendor relationships, accounting software has its fingers in every pie. You can get something as simple as Quickbooks or you can go with a more robust tool that does everything for you. However, if you’re on a budget and don’t want to spend thousands of bucks on an accountant, there are plenty of options out there that will do almost everything an accountant would do. In this post I’ll give you some great options for personal use and also tell you what they are good at and what they lack so that you can make a better choice based on your needs.

How we test

Remember, it’s still possible to use a spreadsheet program like Microsoft Excel (opens in new tab) if you prefer. However, the great thing about personal finance software is it has been created specifically for money management needs.

What we look for in the best personal finance software packages is primarily the ease of use factor, combined with the range of features and functions. We also test how well the software runs, particularly in the app or mobile environment. Lots of us are time-poor and being able to manage finances on the go is a popular option.

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Naturally, we’re also looking for just how well the software can handle tasks, especially for folks who have more complex personal financial affairs. Keeping your data safe and secure is a given too, especially if it’s a package that can integrate with the best accounting software (opens in new tab) or tax filing (opens in new tab) packages.


Best for personal finance and ease of use.

GnuCash is the accounting software for personal use as well as for small businesses. This financial accounting software supports multiple platforms Windows, Linux, Solaris, Mac, BSD, etc. The software is intuitive and based on professional accounting principles.

For small businesses, it offers the functionalities of customer & vendor tracking, jobs, invoicing & bill payment, tax & billing terms, etc.


  • GnuCash provides the features of double-entry accounting, small-business accounting, reports, and graphs.
  • It has features for Stock/Bond/Mutual Fund Accounts.
  • It offers functionalities like QIF/OFX/HBCI Import and Transaction Matching.
  • It has features for scheduled transactions and financial calculations.

Verdict: GnuCash is an easy-to-use and powerful platform. This personal financial accounting software offers the functionalities of tracking bank accounts, stocks, income, and expenses.

Price: GnuCash is available for free.

Website: GnuCash


Best for money management & personal finance.


Quicken is a personal finance and money management software. That will help you with managing spending, budgets, investments, retirement, etc. It will categorize your expenses automatically. Quicken provides 256-bit encryption security. Your data will be transmitted securely with robust encryption.


  • Quicken has a bill center dashboard and a facility to download a PDF of bills.
  • With Deluxe and premier plans, it offers the features of loan, investment, and tax planning.
  • Quicken Bill Manager offers the features of bill tracking and bill pay.
  • Quicken’s key features include keeping finance up-to-date, searching transaction history, checking investment performance, and viewing balances, budgets, accounts, & transactions, etc.

Verdict: With Quicken, you will be able to manage your money on desktop, web, and mobile platforms. It is a secure place that will let you see all the bank and credit card accounts in one place.

It will give you a complete financial picture at a glance. In one place you can view banking, investment, retirement, credit card accounts, etc.

Price: Quicken offers the four pricing plans for Windows PC i.e. Starter ($35.99 per year), Deluxe ($46.79 per year), Premier ($70.19 per year), and Home & Business ($93.59 per year). For the Mac platform, it has three plans i.e. Starter, Deluxe, and Premier. It offers a 30-day money-back guarantee.

Website: Quicken


Best for personal budgeting.


YNAB is an acronym for You Need A Budget. It is personal budgeting software. It supports Windows, Mac, and iOS platforms. It provides the features of bank syncing, goal tracking, real-time updates, reports, and personal support.


  • YNAB supports multiple currencies.
  • It gives you real-time information from any device.
  • It provides the features of goal tracking.
  • It can provide reports on your progress.

Verdict: YNAB is an easy-to-use software that provides the four rules to help you with budgeting. The tool will guide you on the management of money. It will give you complete control over your money.

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Price: A free trial is available for 34 days. YNAB offers monthly ($11.99 per month) as well as annual plans ($84 per year).

Wave is ideal for freelancers, small business owners and home-based businesses.

If you’re a freelancer, small business owner or home-based business, Wave is ideal for your needs. The free version of Wave allows you to create professional invoices and track your expenses. You can also use the platform to send payments and get paid by clients through PayPal or direct bank transfers.

The paid version of Wave offers more advanced features including payroll integration and online payments via credit card or ACH (Automated Clearing House).

Online invoicing, accounting, payroll and payments software that helps small businesses manage their cash flow better.

If you are looking for online accounting software, Wave is the best option. It is ideal for freelancers, small business owners and home-based businesses. The platform offers invoicing, accounting, payroll & payments all in one place. Wave is a cloud-based accounting software which is very easy to use. If your business needs more than just simple bookkeeping services then this will be the best solution to meet all your financial requirements such as invoicing, accounting transactions, payroll & payments.

Wave has a free plan that gives access to unlimited users with 100 transactions per month and 5 GB storage or $19/month (billed annually) which comes with unlimited users and 10 GB storage along with some advanced features like customer management dashboard etc…

A free, open-source personal finance manager

Open-source software is a type of computer software whose source code is available to the public for use or modification from its original design. Open source refers to the ability to modify and extend the source code. And since it’s free, you can use it as much as you want, which is another perk!

However, before we get into what’s great about this tool and why you should consider using it–there are some drawbacks too. While its interface may be more complicated than some other options on this list (more on that below), its learning curve isn’t too high if you’re willing to put in the time.

If you’re doing anything more than a few transactions a month, you should probably move to something a little more robust.

If you’re doing more than a few transactions a month, you should probably move to something a little more robust. The best free accounting software for small businesses is QuickBooks Online (QBO). It also allows you to do invoicing and payroll, but it has all the features of the product above.

If you want to be able to track inventory and assets or need more reporting options, then FreshBooks might be better for you. This allows users to invoice directly from their inboxes in Gmail or Outlook so they don’t have to enter information twice in different places.

The personal version is quite basic but it has everything you need to get started with your personal financial planning or for personal use for your business.

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Most of the features are essentially the same as Quickbooks Online Essentials or Plus version which sells for $35 or $55 per month respectively.

The software is essentially the same as Quickbooks Online Essentials or Plus version which sells for $35 or $55 per month respectively. The only difference is the size of your business and its requirements. If you’re running a small company and don’t need to track inventory, this free program will work perfectly fine for you. However, if you are looking to grow your business into something larger, there should be no reason not to upgrade to one of their paid plans once those needs arise in order to save yourself some money in the long run!

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Very simple to use and is great for managing your personal finances in Excel. The best part about using this software is that it really works well with Excel!

If you have data in Excel and want to use it as a personal finance manager, this is the best option for you. The best part about using this software is that it really works well with Excel! It’s free, open source, and can be used on any device.

It’s a simple and easy to use personal finance manager that allows you to enter transaction data quickly by importing from an existing spreadsheet or manually entering them into the system.

There are many options out there and here are some of the best ones

Wave is ideal for freelancers, small business owners and home-based businesses. It’s a free, open-source personal finance manager. The interface is very clean and simple to navigate, making it easy to stay on top of your finances in an intuitive way.

Wave allows you to create accounts for different types of income (e.g., rent) or expenses (e.g., utilities). You can also set up multiple currencies if your clients pay you in different currencies or if you sell products internationally (such as on Etsy).


A wide range of companies uses the best free accounting software for self-employed, especially freelancers and small businesses. Freelancers also use the above-listed software for managing their accounts and finances. These are the best free accounting software for personal use that you can download without paying anything.

These are some of my favorites but there’s no one best option. It really depends on what you need and how much time or money you want to spend on it. If you want something that’s free and easy to use, then I highly recommend Wave or Zoho Books which both have everything you need at a reasonable price. If money isn’t an issue then go with QuickBooks Online Essentials because they offer more features than any other accounting software company out there right now but if all else fails just use Microsoft Excel because it works just fine too! There are many free, open source financial and accounting software programs available on the internet. They cover everything from tracking business income and expenses, to keeping track of personal finances. Most users will want to try multiple programs before finding the one most suitable for their needs. These programs can either be downloaded or used online. We hope this list helps you get started.

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