7 Best Accounting Software for Freelancers (2024)

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As a freelancer, you’re always searching for anything that could offer you more time and more management capabilities. As the gig economy continues to grow, freelancers struggle to optimize their inputs and finish their workloads so they won’t leave them out of the Gig economy frenzy, which DaVinci payments statistics posits has grown by more than 33% after the COVID -19 pandemic.

If you’re such a good freelancer, you probably have spent so much of your time not only completing gigs but also writing invoices, tracking receipts, filing your taxes, sending invoices, and duplicating receipts. Why are those part of your job? There are popular and best accounting software for freelancers that could help you do all those faster, better, and more accurately. You could focus on simply doing what you do best!

In this post, we will outline the best accounting software for freelancers that will help you up to your game in this bubbling gig economy frenzy.

Best Accounting Software for Freelancers Ranking

1. Xero – best compatibility with freelancer payment platforms
2. Freshbooks – great for tracking client-related work.
3. Zoho – best mobile-friendly accounting software for freelancers
4. Bonsai – best for freelancers looking for a simple interface
5. Freeagent – top best overall accounting software for freelancers
6. QuickBooks – ideal customizable features that fit freelancers
7. Wave – best free accounting software for freelancers.

1. Xero

Like QuickBooks, Xero is one of the most popular accounting software among freelancers. It earns it stay in our list of the best accounting software for freelancers for cloud-based storage and data security features.

Xero also offers a great uptime that best fits you as a freelancer. It gives you tools, connections, and resources to help your freelancer hustle thrive.

Pricing

Xero has three plans, which are;

• Starter plan entry price $20 per month.
• The standard plan; $30 per month
• Premium plan: $40 per month
• It also offers you a 30 days free trial.

For Freelancers, we recommend it’s the standard plan for you. The standard plan is compatible with freelancers as it enables you to tracks several gigs and offers you good value for your money.

Features

• It is compatible and easily integrates with so many freelancer payment platforms.
• Enables multiple currency accounting and lets your track your payments from clients.
• With Xero, you can easily create and manage invoices and estimates.
• You can also use it as your online filing system. It will enable fast document and bill sharing with your clientele.
• It lets you automatically calculate the tax on earnings you make on your freelancer gigs.

Why Do We Recommend Xero for Freelancers?

Xero is a good accounting software option for freelancers as it offers freelancers currency conversion features, enabling freelancers to easily work and manage their finances with international clients. We also recommend it because of its ease and compatibility with payment platforms that freelancers work with.

What’s more? Just like Quickbooks, it offers you tools, customer support, and resources that will help scale your freelancing work.

2. Freshbooks

This is the best accounting software for freelancers to use and track client-related work. You can easily keep excellent track of your gigs with this software. Freshbooks automates your billing and financial tasks and completes them within minutes.

As an addition to its features, Freshbooks also offers integration with lots of apps while letting you stay at the top of your work.

Pricing

Freshbooks plans and prices include;

• Its entry plan is the Lite plan, with an entry price of $4.50 per month and $108 per year.
• Plus plan: $7.50 per month and $180 per year.
• Premium plan: $15 per month and $360 per year
• Freshbooks also offers a 30 days free trial.

We recommend its Premium plan as it offers you unlimited billable clients that you can easily manage as the number of your clients fluctuates.

Features

• It gives you excellent time tracking features that let you stay productive.
• Manages your financial and billing tasks while you focus on clients’ work.
• Excellent customer support that helps you resolve issues and also offers you additional resources.
• It offers you Integration with Dropbox, Shopify, Gmail, and lots of other apps.
• Payment reminders.
• It offers you automatic mileage, expense, and payment tracking.

Why Do We Recommend Freshbooks?

We recommend Freshbooks because it is one of the best accounting software specially built for freelancers. It will let you stay on top of your work. Analyzing tax returns, time, payments, and creating invoices will be so easy. Hence, Freshbooks is a favorite among freelancers.

It also facilitates faster delivery of client works for freelancers while making your work easier and simple with its host of integrations.

3. Zoho Books

This is one of the best accounting software for freelancers and small businesses. Just like Fresh books, it automates most of your tasks, but from our research, it is common among freelancers because of its flexibility and user-friendly mobile apps. You can easily manage your finances while on the go.

Zoho Books is always good for negotiating deals with clienteles.

Pricing

Zoho books plans and prices include:

• The standard plan, which includes the entry price of $20 per month/organization.
• Professional plan: $50 per month/organization
• Premium plan: $70 per month/organization.
• Zoho Books offers a 14 days free trial.

For freelancers and small businesses, we recommend you Zoho book’s standard plan, which best fits working on different gigs, and it offers lots of features.

Features

• It offers you mobile apps, with which you can easily manage your finances while on the go.
• Good for negotiating deals with your clients.
• You can easily create invoices and receipts.
• Easy tracking of mileage, payments, expenses, etc
• It helps you will calculate your tax, and you can easily stay tax compliant.
• Excellent payments and real-time tracking that helps you stay on top of your work
• It offers integration with various apps, and you can offer your clients an online payment option, which makes payment easier and faster.

Why Do We Recommend Zoho Books?

Zoho Books is the best mobile-friendly option for choosing the best accounting software that will best fit freelancers while on the go. It also offers an easy online payment option for freelancers that is user-friendly with excellent customer support.

Though some see it as pricey, it’s popular among freelancers to integrate with apps that you will need as you scale.

4. Bonsai – Best For Freelancers Looking For A Simple Interface

An excellent tool that helps people manage their accounts is Bonsai. You can use it to keep records of your expenses and salary to ensure all your money is accounted for. The software also has tools that will help you complete projects early and get paid faster.

If you provide a service for making contracts or hiring agreements for clients, Bonsai can offer you templates to get things done fast. Tax estimates are also calculated by the platform and sent to you in the form of reports.

All analysis run by this software is highly accurate due to regular updates. This is why using Bonsai is easy for many people.

Pricing

Bonsai offers three different plans to suit your needs. The Starter plan is best for freelancers, while the other two options are for small businesses and large agencies. The Starter plan has a starting price of $24 per month.

You can also save up to 30% by choosing the annual Starter plan with a one-time payment each year for better value for money. The annual plan will cost you $17 per month. All plans also come with a seven-day free trial.

Features

• Save yourself from paying late fees on due payments using reminders
• Track the time you have worked for a client to send them an accurate bill
• Visualize your business progress by viewing graphs that show your profits over the past few months
• Talk to clients within minutes using the portal system
• Use a free trial to understand the software before buying a subscription

Why Do We Recommend Bonsai?

This platform was initially made for freelancers to help them manage their finances without an accountant. All features have been improved to ensure freelance workers enjoy better security and less workload. Bonsai is also compatible with different devices for ease of use.

5. FreeAgent

Specifically built for freelancers, Freeagent is our top recommended best accounting software for freelancers. It tops our list because of its amazing features of invoicing, expenses, tax, and sales management, and it offers great value for money.

This cloud-based accounting software is also your go-to if you are looking for cheap accounting software. It automates most of the tasks and helps you deliver and work smart and faster.

Pricing

Freeagent offers one Universal plan, which starts at $10 per month with 50% off for the first six months, after which you pay $20 per month.

It also gives you a free trial period of 30 days.

Though Freelagent offers just one plan, we highly recommend it as it offers a lot of unlimited features, excellent accounting, and technical customer support to help you through your FreeAgent usage.

Features

• It offers you award-winning customer support to let you get the best out of FreeAgent.
• As a cloud-based Cyber essential certified service, it protects your clients’ and business data and optimized security against malicious and risk factors.
• You can create and send well-designed invoices and estimates.
• Its dashboard gives you a bird’s eye view of all the expenses, income, and profitability.
• You can easily sync it with your bank, track time, and automate tax returns with it.

Why Do We Recommend FreeAgent?

There are so many reasons you will fall in love with FreeAgent. We recommend it because, along with its features, it will make your freelancer experience easy, and simple especially when it comes to time and financial tasks.

What’s more? You will get to enjoy the host of integrations it offers. Its award-winning support will hack your freelancing to the top.

6. QuickBooks

Making its way to the top and one of the best accounting software for freelancers is Quickbooks. Our research shows that this accounting software is top of the game when it comes to giving you a comprehensive feature set, value for money, and a wider range of integrations than most other accounting software.

It encourages scalability, and you can easily switch the plan it best fits you and your gigs.

Pricing

• QuickBook offers five plan pricing. These plans and prices are;
• Self-employed entry plan offered at $7.50 per month.
• Simple start: $12 50 per month
• Essentials: $20 per month
• Plus plan: $35 per month
• Advanced plan: $75 per month.
• It also offers you 50% off for the first 3months and a 30 days trial period.

We recommend QuickBooks’ self-employed plan for you because it is best for self-employed individuals such as freelancers. However, there is no time tracking with this plan.

Features

• You can easily sync with your bank and apps. It offers lots of integrations.
• I-click access to unlimited customer support
• Simply track and manage your tax returns.
• Easily create and send invoices and estimates.
• Track your expenses, income, and freelancer revenue.
• Lots of customizable features.
• It works on Mac, PC, and mobile. You can keep track of your projects while on the go.

Why do we recommend QuickBooks?

We did this because of its amazing integration with lots of apps and platforms. It also has customizable features which you can configure to fit you.

Most of the plans can also help you track your time, keep your production to meet your freelancer deadlines, and reduce your workloads. It is also highly affordable and offers a nice value for money.

7. Wave

From our research, this is the best accounting software for freelancers, which is up for free. You can easily manage and track your gigs as well as scam your receipts, create great invoicing, and perform accounting with Wave accounting software.

This award-winning accounting software has become a freelancer’s popular choice for its user-friendly features. You will love it!

Pricing

This award-winning accounting software is free and has no-priced plans. However, it offers products and services which include Wave invoicing, wave receipts, and wave payments which start at $1 per transaction.

You can use wave payments to facilitate your freelancer payments.

What more can we recommend? Go try Wave; it’s free!

Features

• You can use wave payments to facilitate faster payments for your gigs.
• It lets you create and favorite professional invoices and estimates.
• You can easily track and manage your incomes and expenses.
• It offers you access to articles, Community, and customer support to boost your freelancing.
• It is compact with mobile devices. You can easily create your invoices while on the go.

Why do we recommend Wave?

Though Wave accounting does not offer mileage and time tracking and lots of other features and, we recommend it to freelancers as it is a free alternative for managing your income and expenses, creating invoices, estimates, and excellent core accounting.

What’s more? If you are a starting freelancer, then Wave accounting is the right option for managing your resources.

Last Tip

In a time where the gig economy is a continuous growth process and has heightened in the number of freelancers offering services post COVID-19, it is paramount that you are at the top of your game and work both effectively and efficiently.

Automating your financial and accounting process for your freelancer work is one of the best ways to do this. However, with the myriad gist of accounting software out there, choosing the right best accounting software that will boost your freelancer hustle isn’t that simple. Yea, we know we have been in your shoes.

To make this decision for you, we have outlined in this post the top best accounting software for freelancers, ranging from the overall best – FreeAgent to the best mobile-friendly accounting software that will enable you to track your finances and invoices whole on the go.

As you automate your accounting, bookkeeping, or tax returns analysis, you make more for your work and will be at the top of your work. Our last tip to you is to feel free and select from the above list of best accounting software for freelancers the right option that best fits your freelancing hustle, and watch yourself as you scale.