Best Free Accounts Receivable Software in 2026: Limits Compared

Zoho Invoice is the best free accounts receivable tool for a team of two that mostly chases invoices: no charge, two users, automated payment reminders. For card payments, Wave's free Starter has the lowest card fee among the free plans that publish one, at $29.60 per $1,000 charged. Free plans differ more in users, reminders and card fees than in price, so read the table before you choose.

Free plans at a glance

Every price below is in US dollars, read on each vendor's own pricing page on October 10, 2026, except Odoo, which quotes euros. "Not stated" means the pricing page does not give that limit, so confirm it in the product before you commit.

Our check of vendor pricing pages: of the eight accounts receivable products we checked, six have a plan at no charge or with no monthly fee. The other two, Chaser and Invoiced by Flywire, sell through a trial or a demo, so they cannot be ranked on cost here.

Zoho Invoice and Zoho Books: the free tools with reminders

Zoho Invoice is the simpler product. Its pricing page lists one plan at no charge, aimed at small business owners, freelancers and entrepreneurs, and it sets two limits: two users and two organizations. The page publishes no invoice cap. It lists automated payment reminders and payments by card, e-wallet and ACH, but it does not say what Zoho charges on those payments, so ask before you quote a customer a fee.

Zoho also points larger needs away from a paid Zoho Invoice tier. The upgrade prompt on the page sends advanced buyers to Zoho Billing instead, so on that page the free plan is the whole Zoho Invoice product.

Zoho Books is the step up for a team that wants its ledger in the same place as its invoices. The free plan is priced per organization and allows one user and one accountant. It includes automated payment reminders and bank reconciliation. Bank reconciliation is the feature that matters once someone must match customer payments to the bank feed, and it is the reason to pick Zoho Books over Zoho Invoice.

The first paid step is Standard at $15 per organization a month, billed annually, which allows three users. Professional, at $40 a month billed annually, moves to five users and adds sales and purchase orders. Premium, at $60 a month billed annually, allows 10 users. A team of three that needs one bank feed pays $180 a year per organization on Standard, the cheapest paid plan on the page with three seats.

Plan around the user limit before you sign up: one user and one accountant is the whole free allowance. A second staff user pushes you to Standard, at $15 per organization a month billed annually, which is the first point where the free plan stops fitting. If you outgrow Zoho, our QuickBooks Online review covers the paid ledger teams most often compare with it.

Card payments decide the real cost

The software is free on most of these plans, but the money leaves through card fees. On a $1,000 invoice paid by Visa or Mastercard, the card fee is $29.60 on Wave's free Starter, $33.30 on Square's free plan and $29.30 on Square Plus.

Take a team that bills 20 card invoices a month at that size. Monthly cost, card fees plus the plan that carries them:

• Wave Starter: $592, which is 20 times $29.60 with no subscription.
• Wave Pro: $605, which is $586 in card fees plus the $19 monthly price.
• Square Plus: $635, which is $586 in card fees plus $49 per location.
• Square Free: $666, which is 20 times $33.30.

At that volume Wave Starter is the cheapest of the four. Square Plus costs less than Square Free from the 13th card invoice a month onward, because it saves $4.00 on each card payment against a $49 monthly fee. Below 13 invoices, Square Free costs less.

These figures cover card payments only. American Express payments on Wave cost more, and Zoho's payment fees are not on its pricing page, so this table does not include them.

Wave: a free Starter and a Pro that rarely pays for itself

Wave's Starter has no monthly fee and allows unlimited estimates, invoices and bills. Card payments cost 2.9% plus $0.60 and Amex payments 3.4% plus $0.60. Wave lists automated late-payment reminders among its features, so confirm which plan includes them before you rely on them.

Pro costs $19 a month billed monthly, or $190 a year billed annually. Its card rate is 2.9% with no per-transaction fee, but only for the first ten card transactions in each monthly subscription period. After that, Pro charges the same 2.9% plus $0.60 as Starter. Ten discounted card payments save $6 in a month at that invoice size. That does not cover the $19 monthly fee, so any case for Pro rests on its bookkeeping features, such as bank import, not on card savings.

Wave's Pro footnote also says Discover processing is only available to US customers. A team billing outside the US should check the card rate for its own country before it chooses Wave.

Square Free and Square Plus: a 3.3% online rate on Free

Square Free has no monthly subscription. You pay processing fees only when you take a payment. The catch is the online rate: 3.3% plus 30 cents on a card payment made through an invoice. Only Wave's American Express rate, at 3.4%, is higher on any plan in this table. A $1,000 invoice costs $33.30 on that plan.

Square Plus costs $49 per location a month and lowers the online rate to 2.9% plus 30 cents. It also comes with a 30-day free trial, so a team can test whether the lower fee covers the monthly price before paying for it. Square's invoices page lists automatic payment reminders for upcoming and late invoices, but the pricing page does not tie them to a plan. Check that your account has them on the free plan before you rely on them.

Odoo and Stripe Invoicing: no monthly fee, different trade-offs

Odoo's One App Free plan costs €0 on the pricing page we read, which quotes euros and gives no US dollar figure. It allows one app, unlimited users and multiple companies, and hosting on Odoo Online includes unmetered storage up to 100GB. Odoo is the only plan here that states unlimited users at no charge. The trade-off is the app limit: adding a second app moves you to a paid plan, and Odoo's paid plans are priced in euros on that page.

Stripe Invoicing has no fixed fees or setup costs, but Stripe's payment fees still apply. Starter takes 0.4% of each paid invoice and Plus takes 0.5%, with quotes included. On a $1,000 invoice, Starter adds $4.00 before Stripe's card charge, which this page does not compute. Stripe's invoicing page says automatic reminders go out when invoices fall due or go overdue, so a team that wants reminders and payments in one place may not need a second tool.

Two tools that do not qualify

Chaser's pricing page starts at $259 a month in US dollars and offers a free trial rather than a free plan, so it does not qualify. Invoiced by Flywire sells through a demo, and the text we read on its pricing page lists no plan prices, so it cannot be ranked on cost. Neither gives a free plan to compare.

Toolradar data: Toolradar, the software directory we run, tracks 268 accounting tools, and its accounts receivable ranking lists the paid platforms buyers shortlist. Most paid AR platforms in our own ranking sell by quote, which is why this page covers free plans and the lowest published paid steps.

Checklist before you pick a free plan

• Read each plan's user limit before you sign up. Zoho Books lists its accountant separately from its one user.
• Confirm reminder timing on the plan you pick. Square and Wave list reminders without tying them to a plan on the pages we read.
• Ask Zoho Invoice for its payment gateway fees before you quote a customer a fee.
• Check your country. Wave says Discover processing is for US customers only.
• Export your data before you change plans, and read each vendor's data-retention terms first.

Methodology: how we checked these plans

We checked each vendor's own pricing page on October 10, 2026, and quote the US edition wherever one exists: Zoho Invoice, Zoho Books, Wave, Square, Odoo, Stripe Invoicing, Chaser and Invoiced by Flywire. Odoo quotes euros, and we did not convert them.

We counted a plan as free when it has no monthly fee. Stripe Invoicing is listed as no-fee rather than free, because its per-invoice charge sits on top of Stripe's payment fees. The card scenarios use each plan's published card rate on one card payment and a monthly volume of 20 invoices, and they leave out American Express, ACH and gateway fees.

Frequently asked questions

What is the best free accounts receivable software in 2026?

For a team of two that mostly chases invoices, Zoho Invoice is the best free option on its pricing page: no charge, two users and automated payment reminders. A bookkeeper who also needs bank reconciliation fits Zoho Books' free plan, which allows one user and one accountant. If your customers pay by card, Wave's free Starter has the lowest card fee among the free plans that publish one, at $29.60 per $1,000 charged.

Is Zoho Invoice really free?

Yes. Zoho's pricing page lists one plan at no charge, allows two users and two organizations, and publishes no invoice cap. It does not state the fees on card, e-wallet or ACH payments, so ask Zoho for them before you quote a customer.

Does Wave Starter charge for card payments?

Yes. Starter has no monthly fee, but each card payment costs 2.9% plus $0.60 and each Amex payment costs 3.4% plus $0.60. Visa and Mastercard payments pay that rate. Wave Pro lowers the card fee only for the first ten card transactions each month, so it does not pay for its $19 monthly fee on card savings alone.

What does Square Invoices cost on the free plan?

Square Free has no monthly subscription. An online card payment made through an invoice costs 3.3% plus 30 cents. Square Plus costs $49 per location a month and lowers that to 2.9% plus 30 cents, so it costs less than the free plan from the 13th card invoice a month.

Is Stripe Invoicing free?

Not in the strict sense. Stripe Invoicing has no fixed fees or setup costs, but Starter takes 0.4% of each paid invoice on top of Stripe's payment fees. That comes to $4.00 before the card charge.

When should a team leave a free accounts receivable tool?

When the limits in the table stop fitting: more users than the plan allows, a second entity, an ERP connector or approval rules. Our accounts receivable automation ranking covers the paid platforms for that stage, and most of them sell by quote, so ask for a written price before you compare. For a platform that covers both receivables and payables, see our Bill.com pricing guide.

Bottom line

Start on Zoho Invoice if you invoice and chase but do not need bookkeeping, and move to Zoho Books when one accountant needs the ledger and the bank feed in the same place. Use Wave Starter or Square Free only after you have worked out how much of your revenue comes by card. Run the card-fee math first, because at 20 card invoices a month, card fees outweigh every plan price in this table.

For the systems around receivables, see our AP automation ranking and cash flow forecasting tools.

Cite this: CFOpresso, "Best Free Accounts Receivable Software in 2026: Limits Compared", October 2026.

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