I've never received anything for free, theres always a catch
as with almost all software downloads, free means no money to download it. this doesn't mean that the software company isn't going to try and nail you with a fee later. the other option for free is pirated software. So basically 99% of free software downloads are either a bait and switch tactic or just plain illegal.
the only software i have seen to be completely legitimate is the dynacom accounting software which i am not even sure they offer anymore. It is essentially just like quickbooks. Heres where it gets tricky though. Alot of companies start using dynacom, quickbooks, peachtree and end up growing out of it really quick because their business just needs more than what that basic free software is capable of. This is where they make their money. THE UPGRADE! All of these software companies offer the next step like quickbooks enterprise eddition and dynacom's silver, platinum eddition.
The real key to choosing a free accounting program is to choose one that can grow your business from your garage to a large corporation without having to do a "sloppy bellyflop" from one software to another. upgrades are easy but moving from Quickbooks to SAP(Most popular large scale enterprise software) is extremely dificult and can have a huge disruption of your business.
So what i aam getting to is, don't just pick any old software you can find for free off the internet. search for one that starts out free and can grow along with your business all the way up to the giant corporation you see it being in 5 to 10 years or so. It is very rare for a software company to offer such a large array of upgrades, but it does exist. I have worked with alot of these different software brands so if you have any questions please feel free to ask.