Open source accounting software like tally
Accounting software is a necessity when it comes to managing billings, debts, stocks, invoices and any other kind of financial transaction. You might require something for your personal finances or perhaps for enterprise-focused accounting software. No matter what, it is important to consider open source solutions available (especially being Linux enthusiasts).
So, in this article, I list out some of the best open source accounting software that I think would come in handy for you. At the end of the list, feel free to suggest your favorite ones in the comments.
Best Open Source Accounting Software
Note: The list is in no particular order of ranking.
- Personal finances manager
- Tailored for Plasma Desktop but compatible with others too
- Cross-platform (Windows, Linux, and macOS)
Skrooge is one of the most useful personal finances manager by KDE. It is originally tailored for the Plasma Desktop but other desktop environments are compatible.
Supports most of the basic features (reporting, budgeting, etc.) and allows you to work on some pretty big data sets.
- Online accounting software
- Completely free and open source
- Client portal
- Expense tracking
Akaunting is an interesting online accounting software that’s available for free. Yes, surprisingly, there’s no hidden subscription charges or additional upgrade options. It is totally free. If you are looking for a FreshBooks alternative, you should give it a try.
Ranging from invoicing to managing deposits and transfers. A whole lot of features. You can either utilize their hosting (again, it is free!) or host it yourself. It’s fit for both personal and enterprise needs. Try it out!
3. Apache OFBiz
- ERP & CRM
- Powerful Java Web Framework
- Cross-platform (Linux and macOS)
We’ve already mentioned this in our list of best open source CRM software. Apache OFBiz is an impressive open source solution that incorporates an ERP system and a CRM suite for various types of requirements.
It’s completely free – however, you will have to host it yourself (or just hire someone to do it). In addition to all the basic features needed for accounting software, it lets a developer extend/enhance features easily while being a Java-based web framework.
- Simple and useful
- Cross-platform (Linux and Windows)
Originally based on ADEmpiere ERP. It is a community focused accounting software maintained by an active group of people. iDempiere aims to utilize technologies like Apache Maven to provide a business suite ERP/CRM/SCM.
There’s a ready-to-use Virtual machine available to download. In addition, you can utilize it on Windows or Linux.
- Plug-ins available
- Completely free
Openmiracle is a quite popular open source and free accounting software. There’s no premium plans to it. So, you can utilize all the power and flexibility for free.
It features all the necessary options needed in an accounting software. From setting the budget to managing the payroll, there’s a lot of things to explore.
- Cross-platform (Linux, Windows, and macOS)
- Fit for personal and small businesses
GNUCash is a great open-source financial accounting software to manage stocks/income/expenses for small business or individuals.
From reports to quick calculation features, it has a lot to offer. And, the best thing is – it is available across multiple platforms (including Linux), so that’s a plus.
- Dead simple open source ERP
- Optional commercial support available
- Cross-platform (Windows, Linux, and macOS)
A powerful yet simple open source accounting solution. It has been tailored to small and medium sized businesses. Starting from managing invoices to inventory – you also get the ability to translate (up to 45 languages supported). You can try pre-release version or just get the latest stable build to test it out yourself!
- GST, VAT compliant Invoices if you are based in India (tailored for Indian users)
- Easy to use
- Simple user interface
- Cross-platform (Windows and Linux)
We already covered an article on GNUKhata, if you want to dive into the details.
However, it is simple and robust accounting software that is available for free. From the looks of it, the setup is easy and anyone can get used to it. Feel free to try it out and explore.
- Simple and functional
KMyMoney happens to be yet another free and open-source software managed by KDE. You can easily utilize this for managing accounts, transactions, ledgers, and a lot more.
It offers a simple user interface but gets the job done. As you can see in the screenshot above, it appears to be a full-fledged (if almost) solution. You can get it installed from the software center – however, you can also choose to install it from git if you want the latest version.
- Web-based app
- 15-days trial (not completely free)
- Bunch of 3rd party integrations
If you might have read about the best open source CRM software, you could have noticed the suite of open-source web apps offered by Odoo.
Fortunately, they also offer something for accounting. If you do not mind paying for accounting software (maybe for your enterprise) while having an open-source solution, this can be your choice.
Try it out or check out their GitHub page to learn more about their suite of apps available.
- Simple and easy-to-use
HomeBank may not be a popular choice – however, if you want just another alternative to take a look at, HomeBank is a decent tool.
Just like some others, you can also find it in the software center. However, if you want the latest version installed, you can follow the official download instructions for Ubuntu by adding a PPA.
In addition to all these, you can also take a look at Flowlog (which happens to be an open-source solution) – however, it’s in a public beta phase for a year now – so it may not be the most reliable option yet.
Overall, these are our recommended picks for open-source accounting software. If we missed listing your favorite open-source accounting software, let us in the comments below.
If you’re in need of accounting software for your business, it’s safe to say that you’ll be using that accounting software to examine every dime coming in and out of your banking accounts.
At some point, you’ll probably ask yourself “How much am I paying each month for this accounting software, and can I eliminate that expense?”
Yes, you can get free accounting software, and in this article we’ll look at four popular and totally free options (find out how we chose the featured products here), along with a few reasons that you might be better off paying for your accounting software even when there are free options available.
Here’s what we’ll cover:
Free accounting software:
Open source accounting software:
Free accounting software
While it’s not too difficult to find free versions of some business software, truly free accounting software (not just a free trial) is something of a rarity, with most popular accounting vendors charging a monthly fee for even their most basic version. These two accounting solutions, while not as advanced as their paid counterparts, are built on a foundation of features capable of meeting the needs of most small or midsize businesses.
The main dashboard in Wave Accounting (Source)
Designed with the small-business owner in mind, Wave—which was acquired by H&R Block for around $400 million in July of 2019—prides itself on its simplicity and ease of use. Its intuitive user interface keeps the most important financial data front and center, accessible immediately after signup via any device with a web browser.
The idea here is that keeping things simple relieves much of the stress associated with accounting software. But don’t be deceived by this bare-bones approach; for a free piece of software, Wave is rich in features. This includes informative user dashboards, unlimited income and expense tracking, and customizable invoicing and sales tax processes.
Other features include:
- Fast setup
- Bulk transaction updates
- Exchange rate conversions
- PayPal, Shoeboxed, and Etsy integrations
- Unlimited bank and credit card accounts
- Bill and invoice reminders
While the accounting app really is free, accepting payments (2.9% + 30 cents per credit transaction, or 1% per bank transaction) and running payroll ($20 per month plus $4 per employee) are paid, optional features.
Wave also appears on our Accounting FrontRunners list for 2021.
Not sure if Wave’s free accounting app is right for you? Check out this video walkthrough of how to set up recurring invoices:
The main dashboard in ZipBooks (Source)
Like some other free accounting systems, ZipBooks offers a complimentary starter tier to its more robust paid options. The free version does offer notable useful features for small businesses.
For no cost, users can send unlimited invoices, process digital payments, and manage as many vendors and customers as they need. This cloud-based solution also boasts integration with third-party applications such as Square, PayPal, Slack, and Gusto, giving organizations the freedom and flexibility to do business on their terms.
Other features include:
- Custom invoices, quotes, and estimates
- Ability to toggle between cash- and accrual-based reporting
- Vendor and customer detail tracking
- VAT, taxes, and invoice discounts
- 1099 payment and expense recording
- Balance sheet and profit and loss reporting
Learn how to get started using ZipBooks with this tutorial:
Open source accounting software
If you need an accounting system that you can modify to meet your business’ unique needs, open source software is a great option to consider. Users can download the source code—usually for little or no cost—and mold it into their ideal accounting system.
Open source systems require a certain degree of development expertise. But if you have a dedicated IT department, employ a coding expert, or are willing to hire a third-party consultant, open source software offers a viable alternative to the more monolithic—and pricey—solutions on the market.
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The Accounts overview in Akaunting open source accounting software (Source)
The curiously named Akaunting had its first stable release in 2018 and has been growing steadily ever since, with 180,000 downloads, 80,000 cloud users, and 10,000 project contributors, according to the Akaunting website. It is available in almost 50 different languages.
Akaunting aims to remove the stigma of open source software being difficult to use, claiming to get users up and running and fully functional in less than five minutes. Users can download the main accounting core, which includes all the standard accounting features small businesses will need, and add optional features as app downloads. Some of these optional apps include contract management, documents management, white label customization, and some integrations are paid.
If you run into trouble, free support comes through extensive online documentation, and community forums and chat rooms. The project is also monetized through a paid, dedicated support service, starting at $99/month if you really need help and don’t mind spending to get it.
Core features include:
- Modern, intuitive, mobile-ready interface
- Free updates for life
- Advanced reporting
- Customer and vendor management
- Recurring billing and invoicing
- Categorization and bulk actions
Want to see Akaunting in action? Check out this video:
Checkbook-style register in GnuCash (Source)
This on-premise accounting solution offers a robust set of features—recurring transactions, bank reconciliation, and financial reporting among them. What’s more, it’s as affordable as it gets (i.e., free) and endlessly customizable.
The GnuCash register is like a digital checkbook of sorts, with the ability to split transactions, display multiple accounts in a single window, and tailor the appearance to your liking. But the software’s signature quality is its “double entry” feature, which mandates that all transactions must debit and credit accounts in equal measure—keeping your books balanced at all times.
Other features include:
- Track individual stocks and portfolios
- Regularly updated stock and mutual fund quotes
- Check printing
- Payroll management
- Auto-fill frequent transactions
- Income and expense categorization
Check out the video below on GnuCash for an overview of how this free accounting software works:
Why you must consider paid solutions, too
While the systems outlined above might work for some organizations, they won’t work for all. In many cases—even yours, potentially—investing in a reputable paid solution will pay dividends in the long run.
So now that we’ve explored some free and open source options, you may also want to look at some top-rated paid systems, too, so you have the full picture. Check out our accounting software directory, where you can learn about common features, the products that are most recommended by our advisors, and the top rated products based on real user reviews.
The Software Advice accounting software Buyers Guide (Source)
How we chose featured products
To identify the systems featured here, we Googled the terms “free accounting software” and “open source accounting software” during the month of April 2021 in an incognito window with the location set to the U.S. Provided they met the following criteria, the top solutions on the first page of search results are presented/included above in alphabetical order:
- Offer a free, standalone version of the software (not a trial version of the software where you must purchase a product after a limited amount of time).
- Meet our accounting software definition: Accounting software enables accounting professionals in any type of organization to manage accounts and perform various accounting and financial operations such as record keeping, financial reporting, billing, and invoicing.