Not free, but almost! I sell a bookkeeping program that will do virtually everything QB will, except some of the bells and whistles. Accounting-wise it will do it all. But, you can't add a new customer "on the fly" from Invoicing. You have to leave Invoicing and add the customer under Customers, then come back and do the invoice. Things like that, which are nice, but for the price you can do without.
Cost is $ 29.95, with a $ 10 rebate. I ship Priority for $ 5.00. So, for $ 24.95 you can have a good, integrated Invoicing, Accounts receivable, Accounts Payable, Inventory (if you need it), and more accounting program. Payroll is there, but the tax tables are $ 20 a year, way less than QB.
There is also a 100% satifaction money back guarantee!
If you're just starting, investing $ 25 now will get you off on the right track for managing your business finances.
Check it out at
http://forummembersservices.com/HTML/bk2006.html