2. GnuCash

This is the grand father of free accounting software as it was 1st released in 1998.  It is Open Source so it has been improved and developed ever since – it is now a very flexible accounting system.

A straightforward screen makes it quick and easy to enter transactions, but there is much more under the bonnet, ie  customer and supplier tracking, invoicing and bill payment, scheduled transaction support, and lots of reports.

It can also do budget management and stock portfolios, while each of your accounts can be in different currencies. It is based on double entry accounting and has a reconciliation tool help you uncover any errors.  Versions are available for Windows, Linux and Mac (and even an Android app) –  so you can run this almost anywhere.

3. TurboCASH

Like GnuCash, this is an open source small business accounting package, which the developers say has more than 80,000 users worldwide.  It has all the usual standard functions – stock control, invoicing, debtors, creditors, general ledger, VAT accounting, balance sheet and income statements, and plenty of reports – and also supports multiple users, and even multiple companies.

As with any similar package, if you’re new to accounting in general then there’s a great deal to learn, so this package does have example books and a detailed online manual helps you to get started. This software is also configurable and should meet the demands of most businesses regardless of size.