Reviewed & Fact-checkedProper accounting software can elevate your freelance work from a hobby to a real business. Without it, tracking finances becomes a nightmare.
Trust me, I’ve tried the spreadsheet method—it’s not sustainable. To build a lasting freelance business, you need the right tools.
But with countless options available, choosing the best accounting software for freelancers can be overwhelming. I’ve done the legwork and narrowed it down to a select few. Here’s why they stand out:
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Best Accounting Software for Freelancers
| Brand | Description | Rating | Price | Links |
|---|---|---|---|---|
Best Overall  | Freshbooks•FreshBooks is an easy-to-use accounting software designed for business owners and accountants. It simplifies invoicing, payments, expense tr... |
| Starts at $19/moTry free for 30 Days | |
Author Pick  | Collective•Collective is an all-in-one financial solution for self-employed entrepreneurs. It offers services including business formation, tax optimiz... |
| Starts at $296/moSave $10,000+ in taxes | |
 | Xero•Xero is a cloud-based accounting software designed for small businesses. It offers a comprehensive suite of financial management tools, incl... |
| Starts at $15/mo75% off for 6 months | |
 | Quickbooks•Smarter business tools designed for small businesses, freelancers, and self-employed individuals. Save time with automatic expense categoriz... |
| Starts at $20/moTry free for 30 Days | |
 | Bonsai•The business and invoicing management solution that gives you peace of mind and allows you to focus on your work. Used by 500,000+ freelance... |
| Starts at $21/moTry free for 7 days | |
| Zoho Books•Zoho Books is a comprehensive accounting platform for growing businesses, offering features like invoicing, expense tracking, inventory mana... |
| Starts at $0Try free for 30 Days | |
 | Bloom•Manage your creative business in one place. Bloom provides a powerful business management and growth toolset, to help you launch your side-g... |
| Starts at $7/moTry free for 7 days | |
 | Wave•Wave is a financial management platform for small businesses and freelancers. It integrates invoicing, accounting, and payroll tools in a us... |
| Starts at $16/moUnlimited Free Basics | |
 | Moxie•Everything you need to thrive as a freelancer. From contracts, proposals, and client management to invoicing, branded client portal, and a t... |
| Starts at $16/moTry free for 14 days | |
 | Harpoon•A forward-looking time-tracking and invoicing software to plan and forecast a profitable future. Will your freelance business be profitable ... |
| Starts at $9/moTry free for 14 days |
Best Overall Accounting Software
Freshbooks
5/5FreshBooks is an easy-to-use accounting software designed for business owners and accountants. It simplifies invoicing, payments, expense tracking, and more, helping you save time and look professional. Perfect for freelancers, self-employed professionals, and businesses with teams, FreshBooks offers a 30-day free trial to get you started with no risk.
Why we like Freshbooks ‣
FreshBooks stands out as an excellent choice for freelancers and small businesses who want to grow. Its user-friendly interface and seamless onboarding process allow users to set up their accounts and start working quickly. FreshBooks offers a range of features tailored to service-based businesses, including unlimited invoicing, time tracking, and client retainer options even in its most basic plan.
The software's flexibility is particularly appealing, allowing users to easily upgrade as their business grows without losing functionality. FreshBooks also excels in customer support, providing readily accessible phone and email support, which demonstrates their commitment to user satisfaction.
Read the Full Review
Freshbooks Pros & Cons ‣
Pros:
- User-friendly interface with easy onboarding
- Flexible pricing plans that grow with your business
- Unlimited invoicing, time tracking, and estimates on all plans
- Excellent customer support with readily available contact options
Cons:
- Limited to 5 billable clients on the basic plan
- Additional cost for each team member added ($10/month)
Author’s Pick for Accounting Software
Collective
4/5Collective is an all-in-one financial solution for self-employed entrepreneurs. It offers services including business formation, tax optimization through S Corp election, and financial management tools. Designed to simplify the complexities of solo business ownership, Collective aims to save members money on taxes while streamlining administrative tasks, allowing entrepreneurs to focus on growing their businesses.
Why we like Collective ‣
Collective stands out as a compelling solution for freelancers and solopreneurs earning over $80,000 annually who want to streamline their business finances. What makes Collective particularly appealing is its comprehensive approach, combining S-Corp formation, bookkeeping, accounting, and tax services into one cohesive platform.
One of the biggest draws is the potential for significant tax savings through S-Corp election. For many self-employed professionals, this can translate to thousands of dollars saved each year. Beyond tax benefits, Collective's ongoing support from CPAs and financial experts provides valuable guidance and peace of mind throughout the year.
While the monthly cost may seem substantial at first glance, the time saved on financial management and potential tax savings often justify the investment for qualifying businesses. Collective essentially allows you to offload many of your financial tasks, freeing up more time to focus on growing your business and serving clients.
Read the Full Review
Collective Pros & Cons ‣
Pros:
- All-in-one platform for business finances, reducing juggling between services
- Substantial tax savings potential through S-Corp election and expert guidance
- Automated bookkeeping and expense tracking to save time
- Access to CPAs and accounting experts for personalized advice
- Educational resources to boost your financial know-how
Cons:
- Customer support responsiveness has room for improvement
- Some users report occasional glitches in the tech platform
- Less customizable than working with a dedicated accountant
- May not be cost-effective for businesses earning under $80,000 annually
- Requires vigilance from members to catch potential errors in tax preparation
Xero
5/5Xero is a cloud-based accounting software designed for small businesses. It offers a comprehensive suite of financial management tools, including invoicing, expense tracking, bank reconciliation, and reporting. Xero emphasizes user-friendliness and automation, aiming to simplify accounting tasks for business owners. The platform supports real-time financial visibility, integrates with various third-party apps, and provides features like inventory management and payroll. Xero's cloud-based nature allows users to access their financial data from anywhere, facilitating collaboration with accountants and bookkeepers.
Why we like Xero ‣
Xero stands out as an excellent choice for freelancers, solopreneurs, and small businesses looking for comprehensive yet user-friendly accounting software. One of Xero's key strengths is its ability to support unlimited users at no extra cost, making it ideal for growing businesses with multiple team members who need access to financial data. The software leverages AI effectively, particularly in areas like bank account reconciliation, which can save valuable time for busy entrepreneurs. Xero's advanced reporting capabilities provide deep insights into business performance, helping owners make informed decisions. With features like automated invoice reminders and receipt capture, Xero streamlines many day-to-day accounting tasks, allowing business owners to focus more on their core operations and less on paperwork.
Xero Pros & Cons ‣
Pros:
- Unlimited users at no extra cost
- Strong AI-powered bank reconciliation
- Advanced reporting and business insights
- Thorough contact records for customers and suppliers
- Good mobile apps for on-the-go accounting
Cons:
- No inventory assemblies feature
- Time entries must be tied to projects
- Navigation can be confusing at times
- Personalized support is email-only
- Invoice approval process may be overly complex for some users
Quickbooks
4/5Smarter business tools designed for small businesses, freelancers, and self-employed individuals. Save time with automatic expense categorization, mileage tracking, and seamless tax preparation.
Why we like Quickbooks ‣
QuickBooks is a robust accounting solution that caters well to established and rapidly growing businesses. Its extensive feature set includes advanced capabilities like inventory management, detailed project profitability tracking, and built-in mileage tracking. QuickBooks offers superior connectivity, boasting over 700 third-party app integrations, which allows for seamless incorporation into various business ecosystems. The software also provides options for more comprehensive financial support, including the ability to partner with a live bookkeeper for professional assistance. QuickBooks' scalability makes it an excellent choice for businesses anticipating significant growth or those requiring more complex accounting features.
Read the Full Review
Quickbooks Pros & Cons ‣
Pros:
- Extensive feature set including inventory and project profitability tracking
- Large number of third-party app integrations (over 700)
- Built-in mileage tracking
- Option to work with a live bookkeeper for additional support
Cons:
- Steeper learning curve compared to other tools
- More expensive, especially after promotional period ends
- Cannot upgrade from Self-Employed plan to other plans
- Limited number of users even on higher-tier plans
Bonsai
4/5The business and invoicing management solution that gives you peace of mind and allows you to focus on your work. Used by 500,000+ freelancers globally.
Why we like Bonsai ‣
Bonsai caught our eye as a solid tool for freelancers who want to spend less time on paperwork and more time creating. It's like having a personal assistant who handles the boring stuff - contracts, invoices, time tracking - all rolled into one neat package.
What's cool is how it connects the dots: you can whip up a proposal, turn it into a contract, and then boom - your invoices are ready to go. It's not trying to be everything to everyone, but for solo freelancers who need the basics covered without fuss, Bonsai hits the sweet spot.
Plus, with features like auto-payment reminders, it's like having a polite but persistent collections department working for you 24/7.
Read the Full Review
Bonsai Pros & Cons ‣
Pros:
- Seamless flow from proposals to contracts to invoices
- Built-in legal templates save on lawyer fees
- Time tracking that integrates directly with invoicing
- Nifty auto-follow-up for unpaid invoices
- Bitcoin payment option for tech-savvy clients
Cons:
- Project management features are pretty basic
- Expense tracking could use some beefing up
- Reporting tools are more bare-bones than data-rich
- Might be too simple for larger agencies or complex projects
Zoho Books
1/5Zoho Books is a comprehensive accounting platform for growing businesses, offering features like invoicing, expense tracking, inventory management, and reporting. Accessible across devices, it supports multi-currency transactions and team collaboration. The software emphasizes automation, customization, and integration with other apps. Designed for small to medium-sized businesses, Zoho Books provides a user-friendly solution for streamlined financial management.
Why we like Zoho Books ‣
Zoho Books offers an impressive blend of functionality and affordability for small to medium-sized businesses. Its free plan provides a solid starting point for new entrepreneurs, while paid tiers unlock advanced features like inventory management and project tracking. We appreciate Zoho Books' user-friendly interface, robust mobile app, and strong customization options that allow businesses to tailor the software to their specific needs. The platform's automation capabilities can significantly reduce time spent on routine accounting tasks, freeing up business owners to focus on growth.
Zoho Books Pros & Cons ‣
Pros:
- Generous free plan for very small businesses
- Comprehensive feature set including invoicing, expenses, and inventory
- Powerful mobile app for managing finances on the go
- Extensive customization options for forms and reports
- Responsive customer support via phone, email, and live chat
Cons:
- Limited number of users on most plans
- Advanced features restricted to higher-tier plans
- Fewer third-party integrations compared to some competitors
- May have a learning curve for accounting software newcomers
- Not ideal for large enterprises with complex accounting needs
Bloom
5/5Manage your creative business in one place. Bloom provides a powerful business management and growth toolset, to help you launch your side-gig or freelance business.
Why we like Bloom ‣
Bloom.io is a real powerhouse for freelancers and creative professionals. It packs a ton of useful tools into one platform - you've got invoicing, project management, CRM, and even website building all in one place. What really sets it apart is how it takes all those annoying admin tasks off your plate. As a freelancer, you can finally focus on the work you actually love doing. We're big fans of their cool features like instant booking and the way you can customize how you deliver your work to clients. Plus, it's super easy to use and won't break the bank. They even offer a pretty generous free plan. If you're a freelancer looking to grow your business without drowning in paperwork, Bloom.io could be just what you need.
Read the Full Review
Bloom Pros & Cons ‣
Pros:
- Comprehensive all-in-one solution for freelancers
- Innovative features like instant booking and customizable workflows
- Free invoicing and booking features
- Affordable pricing with a generous free plan option
Cons:
- Lacks email marketing capabilities
- No multi-user functionality for team collaboration (though coming soon)
- May be too focused on solo freelancers for those with larger teams
- Some users may find certain features overly simplified
Wave
4/5Wave is a financial management platform for small businesses and freelancers. It integrates invoicing, accounting, and payroll tools in a user-friendly interface. Features include customizable invoices, expense tracking, online payments, and basic accounting functions. Wave aims to simplify financial tasks and help small business owners manage their money efficiently.
Why we like Wave ‣
We're big fans of Wave for freelancers, solopreneurs, and small businesses looking for a capable accounting solution without breaking the bank. What sets Wave apart is its generous free plan, which includes most of the essential features needed to manage your finances effectively. The user-friendly dashboard provides a clear overview of your cash flow, profit and loss, and expenses at a glance, making it easy to stay on top of your financial health. Wave's smart selection of features caters specifically to very small businesses, offering invoicing, expense tracking, and basic accounting tools without overwhelming users with unnecessary complexity. For those operating internationally, Wave's support for multiple currencies is a valuable addition. The ability to create professional-looking invoices, automate reminders, and accept online payments (for a fee) can significantly streamline your billing process and help you get paid faster.
Wave Pros & Cons ‣
Pros:
- Most features are free, including invoicing and basic accounting
- User-friendly dashboard with clear financial overviews
- Smart feature selection tailored for very small businesses
- Excellent invoice and transaction management
- Supports businesses using multiple currencies
Cons:
- Additional fee required for scanning and uploading receipts
- Customer and vendor record templates are relatively sparse
- Invoice customization options could be more robust
- No built-in time tracking feature
- Limited customer support for free users
Moxie
5/5Everything you need to thrive as a freelancer. From contracts, proposals, and client management to invoicing, branded client portal, and a ton more.
Why we like Moxie ‣
Moxie stands out as an all-in-one solution designed specifically for freelancers, addressing their unique needs and challenges. Its comprehensive suite of tools covers everything from project management and invoicing to time tracking and accounting, all within a single, user-friendly platform.
Moxie's affordability, combined with its focus on simplifying the administrative side of freelancing, makes it an attractive option for both new and seasoned independent professionals. The software's ability to grow with the user, from solo freelancer to small agency owner, adds to its appeal as a long-term business management solution.
Read the Full Review
Moxie Pros & Cons ‣
Pros:
- Absolutely great customer service—you can even reach the CEO
- All-in-one platform combining multiple essential freelance business tools
- Affordable pricing with no hidden fees or upsells
- Designed specifically for freelancers' needs
Cons:
- Some features may be too simplistic for more complex business requirements
- Relatively new product, which may mean fewer integrations or advanced features
Harpoon
5/5A forward-looking time-tracking and invoicing software to plan and forecast a profitable future. Will your freelance business be profitable 12 months from now? Meet Harpoon.
Why we like Harpoon ‣
Harpoon isn't just another time-tracking tool; it's the financial GPS for creative professionals navigating the choppy waters of project-based work. Picture a lighthouse that not only guides you safely to shore but also plots your course for future voyages. That's Harpoon in action. It's like having a seasoned captain at the helm of your business ship, keeping an eye on your current position while charting a course for treasure-filled waters ahead. For freelancers and small teams tired of drifting aimlessly from project to project, Harpoon offers a way to steer your business with purpose. It transforms the often murky world of project finances into a clear, navigable map, helping you avoid the rocks of unprofitability and sail smoothly towards your financial goals. With Harpoon, you're not just tracking time – you're mastering it.
Harpoon Pros & Cons ‣
Pros:
- Comprehensive project management with budget tracking and profitability analysis
- Integrated time tracking with both timer and manual entry options
- Flexible team collaboration features, ideal for remote work
- Supports 20 different currencies for global businesses
- Forecasting tools to help plan for a profitable future
Cons:
- No mobile app (though accessible via mobile web browser)
- Pricing model based on number of users, which can get expensive for larger teams
- No free tier available (only a 14-day trial)
- May be overkill for businesses not focused on project-based work
- Limited to 3 clients on the starter package
How to choose the best accounting software for freelancers
After reviewing this list of best accounting software for freelancers, you might find yourself overwhelmed still at facing this important decision.
If you’re not sure, even after reading the details above, here are a few more things you can do to find the best accounting software for your freelance business:
Ask your accountant
If you’ve got an accountant who already helps with your finances, they may already use some accounting software and doubling up would be more detrimental than helpful.
Ask a financially literate friend
If you’ve got it whittled down to just a few options and you’re not sure how to proceed, consider asking someone who knows more about accounting than you do. Most of us have a friend or two who either work professionally with money or at least geek out over finances.
Ask a fellow freelancer
Finally, you can ask a fellow freelancer which accounting software they use to run their freelance business. If you don’t know any fellow freelancers, you can tap into our mastermind (currently over 10,000 members) for FREE and ask there.
Whichever you decide on, finding quality accounting software is better than none at all. So, just dive in, give it your best shot. You most likely can’t go wrong with any of the options on this list.
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