Key takeaways
What this article covers, in order:
- "Free" means four different things
- Bank feed vs CSV import: why it matters
- What the main options offer, as of Oct 2026
- Who each one suits
- What HelloBooks Free does and doesn't cover
- A quick worked example: will free be enough?
Genuinely free accounting software with bank feeds that run live is rare in Australia. Most of the big names offer a free trial or a heavy introductory discount, not a free plan, and the free plans that do exist usually cap something: transactions, revenue, users or bank connections. Before you sign up, check three things: is it free forever or just for now, is the bank connection a live feed or a CSV upload, and what's the cap?
"Free" means four different things
Nick has just gone out on his own as an electrician in Wollongong (he's made up). He searched "free accounting software Australia", opened five tabs and came away more confused than when he started. Fair enough. The word "free" is doing a lot of different jobs:
- Free plan. You can stay on it indefinitely, with limits.
- Free trial. Full features for a set number of days, then you pay or leave.
- Introductory discount. Not free, but heavily reduced for the first few months.
- Free with conditions. Free only under a revenue limit, or without a key feature like bank feeds.
None of these is a trick. They're just different deals, and they suit different people.
Bank feed vs CSV import: why it matters
A bank feed is a live connection: transactions flow from your bank into the software automatically, usually daily. A CSV import means you download a statement file from internet banking and upload it yourself.
CSV import works. It's just manual. For a sole trader with 30 transactions a month, uploading a file once a month is no big deal. For a café with daily card settlements, it gets old quickly. So when a free plan says "bank reconciliation", check whether that means a live feed or a file you upload.
What the main options offer, as of Oct 2026
We checked each vendor's own Australian pricing page in Oct 2026. Prices and offers change often, so check the live page before deciding.
| Software | Free plan? | What the AU pricing page says (as of Oct 2026) |
|---|---|---|
| HelloBooks | Yes, A$0 with no expiry | 2 users, 1 live bank feed, up to 200 transactions a year, CSV import, invoices, bills, quotes, AR and AP ageing, P&L, Balance Sheet, Cash Flow |
| Zoho Books | Yes, A$0 | For businesses with revenue under A$50K a year; 1 user plus 1 accountant; up to 1,000 invoices a year; bank and card statement import and reconciliation. Connected bank feeds start on the Standard plan (A$16.50 a month, billed annually) |
| Xero | No | Plans from Grow at $78 a month (prices in AUD, GST inclusive) after an introductory offer; bank reconciliation on every plan |
| MYOB | No | Cheapest listed plan is Solo by MYOB at $99 a year after its offer period, with 1 user and up to 2 connected bank accounts |
| QuickBooks Online | No free plan listed | Four paid plans (Simple Start, Essentials, Plus, Advanced) with a 70% off for 6 months offer; automated bank feeds and auto-matching listed on all plans |
| Reckon One | No | 30-day free trial; unlimited users listed |
Sources are the vendors' own Australian pricing pages, checked Oct 2026.
Who each one suits
Being fair about it:
- Zoho Books Free suits a small business under A$50K revenue that's happy to upload bank statements rather than use a live feed, and wants a decent invoice allowance.
- Xero suits businesses that want payroll in the same product (its AU plans list payroll for 2, 5 or 10 people), and are happy to pay monthly from the start.
- Solo by MYOB suits a sole trader who wants a low annual price, 2 connected bank accounts and only needs one user.
- QuickBooks Online suits businesses that want bank feeds on every tier and value the introductory discount, with users scaling from 1 on Simple Start to 25 on Advanced.
- Reckon One suits teams that want to test properly for a month and like the unlimited-users model.
- HelloBooks Free suits a business that wants a live bank feed at A$0 with no expiry and a second user (your bookkeeper, say), and has a fairly low transaction volume.
What HelloBooks Free does and doesn't cover
Let's be straight about our own plan, since that's the point of this post.
Included at A$0, no card, no expiry:
- 2 users
- 1 live bank feed, plus CSV statement import for other accounts
- Up to 200 transactions a year
- Free AI credits to get started
- Invoices, bills and quotes, with unlimited email payment reminders
- AR and AP ageing, P&L, Balance Sheet and Cash Flow
- Full mobile app on iOS and Android
- A "Powered by HelloBooks" badge on invoices
Where you'll hit the edges:
- 200 transactions a year is about 16 a month. Fine for a side business, a small club or a quiet sole trader. A café or busy online store will pass it fast.
- One live feed. Your second account or card can still come in by CSV, but it won't be automatic.
- AI credits. When the free credits run out, AI categorisation pauses. The books keep working; you categorise by hand.
Pro, at A$30 a month (A$300 a year), adds AI auto-categorisation, unlimited bank connections, unlimited users and roles, AI Analysis on every report, recurring invoices, bills and approvals, multi-currency with auto FX, Excel export, removal of the badge and priority email support. Business, at A$120 a month, adds multi-entity, audit log and advanced role-based access, API access, advanced inventory and a dedicated success manager.
A quick worked example: will free be enough?
Nick, our electrician, expects about 25 customer jobs a month. Each job is one invoice and one payment. He also has about 12 supplier and running costs a month (fuel, materials, phone, insurance, software).
Monthly bank transactions: 25 customer payments + 12 expenses = 37. Over a year: 37 × 12 = 444.
That's well over 200, so a free plan with a 200-transaction cap won't hold him for the year. He'd be better off starting free to set things up and test the workflow, then moving to a paid plan once the volume builds. A club treasurer with 12 transactions a month (144 a year) would fit comfortably.
Do this sum for your own business before you pick anything.
Questions to ask any "free" offer
- [ ] Is this a free plan, a trial or a discount? When does it end?
- [ ] Is the bank connection a live feed or a CSV upload?
- [ ] How many bank accounts can connect?
- [ ] Is there a cap on transactions, invoices or revenue?
- [ ] How many users, and can my bookkeeper or accountant log in?
- [ ] Can I reconcile and get a reconciliation report on the free tier?
- [ ] What does the first paid plan cost after any discount ends?
- [ ] Can I export my data if I leave?
How HelloBooks helps
You connect your bank account (most Australian banks and cards are supported) or import a CSV statement. Transactions land in a review list where you confirm or change the category. The reconcile screen lines your statement up against your ledger with an AI match suggestion on each line, showing a confidence score and why it picked that match, and you only work through the exceptions. The reconciliation report exports as PDF or CSV, and a signed-off period can be locked.
Compare plans on the pricing page, or see how we compare as a Xero alternative and a QuickBooks alternative.
FAQs
Is there free accounting software with bank feeds in Australia?
Yes, but it's uncommon. HelloBooks Free includes 1 live bank feed at A$0 with no expiry. Some other free plans reconcile from uploaded statements rather than a live feed. Check each vendor's current pricing page.
What's the difference between a free plan and a free trial?
A free plan has no end date but has limits. A free trial gives you full access for a set time, then you need to pay to keep using it.
Is HelloBooks Free a trial?
No. It's A$0 with no card and no expiry. You can upgrade to Pro or Business whenever your volume needs it.
What happens when I go over 200 transactions on HelloBooks Free?
That's the point to look at Pro, which adds unlimited bank connections and AI auto-categorisation; check the pricing page for the current limits on each plan. Count your monthly transactions first so you know roughly when you'll get there.
Can I reconcile using CSV statements on a free plan?
HelloBooks Free includes CSV statement import alongside the live feed, so accounts without a feed can still come into your books. Other free plans vary, so check what each one allows.
Count your transactions, check what "free" means on each page, and pick the plan that fits the business you have now.
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