11 Best Accounting Software For Self-Employed (2024)

Almost sixteen million workers in the United States identify as self-employed. If you are one of them, you know how challenging it is to manage all aspects of your work or business. That is where the best accounting software for self-employed comes in.

It makes your life easy and convenient by offering you an accounting solution to reduce your burdens. So, here are the top ten accounting software for self-employed individuals.

Upfront Conclusion

The best accounting software for self-employed right now is Bonsai and QuickBooks Self-Employed.

Top 11 Best Accounting Software For Self-Employed

Bonsai – Best for Growing Small Businesses
QuickBooks Self-Employed – Best for Part-Time Freelancers
OneUp – Best for Small Sales Teams
Xero – Best for User-Friendly Features
SageOne – Best for Self-Employed People On a Budget
FreshBooks – Best for Independent Contractors
Wave – Best for Free Accounting Service
Sunrise – Best for Tracking Income and Expenses
NeatBooks – Best for Accounts Receivable-Only Accounting
Expensify – Best for Tracking Receipts
ZipBooks – Best for Professional Accounting Help

1. Bonsai – Best for Growing Small Businesses

Best Accounting Software For Self-Employed

Pricing: $17/Per User (Business Packages with additional features are also available)

With over 500,000 clients, Bonsai is one of the most efficient business management tools in the market for self-employed business owners. No matter what industry your business is involved in, Bonsai can help you grow. Bonsai can help to organize your tasks, manage proposals, generate invoices, and perform a lot of other tasks based on the package you purchase.

One of the best features of Bonsai is that it makes it easier for you invite other professionals like Tax Assistants to your project who can be of great assistance to you when you are preparing to file you returns for the year.

Key Features

Track all your projects from start to finish
Manage finances through bookkeeping
Customize proposal and invoices
Bonsai Tax to track income and expenses

Reasons To Buy

It will help you with doing taxes
You can use the Clients Portal to provide a positive experience to clients
Create a professional look for invoices and proposals
You can use the application to get notifications wherever you are

Reasons To Avoid

The payment options are limited to some geographical locations
Only users in US and Canada can use the automated expense tracking feature

Visit Bonsai

2. QuickBooks Self-Employed – Best for Part-Time Freelancers

Pricing:$5/month

If you want to save your time during tax season, QuickBooks Self-Employed is the ideal solution for you. It is one of the best bookkeeping tools for tracking your expenses and tax payments. In addition, you can connect it to your credit or bank account to track all transactions.

Key Features

Calculate quarterly estimated tax payments
Track mileage and expensive
Intuitive navigation and user interface

Reasons To Buy

It syncs with TurboTax
Offers a mobile app
Differentiate between personal and business expenses

Reasons To Avoid

Limited functionality of invoices and customization

3. OneUp – Best for Small Sales Teams

Pricing:$9 to $169/month

Self-employed business owners can leverage the power of OneUp for their small sales teams. It allows people to close the books quickly and comes with an invoicing option. You can also use it from your mobile for ease of use and convenience.

Key Features

Bank automation
Invoice management
Thirty-day free trial

Reasons To Buy

You can close your books in less than a minute
Ideal for people who are always on-the-go
The mobile software makes it perfect to use for inexperienced accounting users

Reasons To Avoid

It does not focus on features, such as the calculation of quarterly tax obligations

4. Xero – Best for User-Friendly Features

Pricing:$12 to $65 per month with a thirty-days free trial

Xero might be difficult to use for some inexperienced individuals, but it offers an extensive accounting solution. That is because the invoicing and receipt options are incredibly helpful for people trying to manage their business alone. Their customer support is also responsive and knowledgeable, so you will get the most out of their service.

Key Features

Connect with over a 1,000 tools for POS, CRM, and payroll
Online invoice
Tracking of tax obligations

Reasons To Buy

The best solution for experienced bookkeepers
Organizes receipts in no time
There is a free trial of thirty days

Reasons To Avoid

It might not be the best solution for individuals who have never done bookkeeping before

5. SageOne – Best for Self-Employed People On a Budget

Pricing:Starts at $10/month

SageOne offers cloud accounting solutions, which is why it is ideal for self-employed people that are always traveling. You can access the software anywhere and manage everything from inventory to accounting. In addition, the reporting features are excellent, as you can look at them to learn more about your cash flow.

Key Features

Cash flow reporting
Invoice creation
SageOne mobile app

Reasons To Buy

Easy to use
Ideal for small start-ups
The reporting tool is excellent

Reasons To Avoid

It does not offer a time tracking feature

6. FreshBooks – Best for Independent Contractors

Pricing:$15 to $50 per month with a free trial of thirty days

FreshBooks offers some of the best features for self-employed contractors. That is because it will enable you to track your time and business expenses while helping you with invoicing your clients. In the long run, it will also help make tax season easier.

Key Features

Unlimited time tracking
Sending estimates
Reports for tax obligations

Reasons To Buy

It is a cloud-based accounting solution
The invoicing features are advanced
It offers third-party app integrations

Reasons To Avoid

It does not offer a payroll service

7. Wave – Best for Free Accounting Service

Pricing:Free

Wave is a completely free platform that offers you a lot without having to put a dent in your pocket. You can calculate tax obligations, payment collections, separation of business and personal expenses, and more. The customer support team is also incredibly responsive, and they will help you out in no time.

Key Features

Tax obligation calculation
Payment collection
Add-on service for payroll plans

Reasons To Buy

You can run multiple businesses from one account
Unlimited number of users
There are billing or transaction limits

Reasons To Avoid

The full-service payroll is only available in fourteen states

8. Sunrise – Best for Tracking Income and Expenses

Pricing:$19.99 per month

If you are a freelancer who needs to track income and expenses, this will be the ideal solution. Besides that, small businesses that need double-entry accounting will also benefit from Sunrise. Even sole proprietors can use Sunrise to keep track of these things for better cash flow management.

Key Features

Cash management and banking
Accounts payable and receivable
Inventory

Reasons To Buy

The invoicing tools are good
The dashboard is intuitive and easy to use
It supports estimates, quotes, and invoices

Reasons To Avoid

It does not offer project or time tracking

9. NeatBooks – Best for Accounts Receivable-Only Accounting

Pricing:$36 per month

NeatBooks can help you download all the transactions from your online bank account and sort them into categories. It can help you reconcile your transactions so you know everything coming in and going out of your business. You can also use the software to generate customizable reports, send invoices, and access the reconciliation tools.

Key Features

Transaction management
Reporting and reconciliation
Mobile access

Reasons To Buy

It offers customizable reports
There are multiple ways to upload transactions
The user experience is excellent

Reasons To Avoid

It is expensive

10. Expensify – Best for Tracking Receipts

Pricing:Starts at $4.99 per month

If you are looking for the simplest accounting app to use, it doesn’t get better than Expensify. However, it only has one aim: to enable you to track all your receipts from one place. You can use the app to categorize expenses, capture receipt images, save transaction details, and more that will help you run your business.

Key Features

Third-party integrations
Reporting
Receipt tracking

Reasons To Buy

Simple to use
You can add entries for hours and mileage worked
You can turn the expenses into PDF files or emailable reports

Reasons To Avoid

It does not offer auto-calculations of quarterly taxes

11. ZipBooks – Best for Professional Accounting Help

Pricing:Starts at $125 per month, and Starter Plan is free

ZipBooks will enable you to automatically pull transactions, edit expense details, and connect your credit card and bank account. You can use your mobile to capture receipt images and then upload them to ZipBooks for ease of use. Besides that, you can also use it to create and send invoices for a complete accounting solution.

Key Features

Mobile app
Bank account reconciliation
Tax preparation

Reasons To Buy

A professional accounting solution
You can connect your bank account
Upload the receipts to ZipBooks

Reasons To Avoid

It does not offer a complete solution for inexperienced bookkeepers

Frequently Asked Questions

What is the difference between QuickBooks and Quicken?

The main difference between QuickBooks and Quicken is that Quicken emphasizes the finances of families and individuals. On the other hand, the main emphasis of QuickBooks is on small businesses. Besides that, Quicken also offers local software that you can access on your computer.

However, QuickBooks offers an online version of the software so that businesses can easily use it with convenience. Of course, the pricing and plans of these solutions are also different. Self-employed individuals and entrepreneurs can use QuickBooks, while Quicken is ideal for individuals or families.

How do I keep track of income when self-employed?

The least you can do to keep track of income when you are self-employed is you can categorize all your receipts in one folder. Besides that, you must also note all your expenses so that you don’t face any problems during tax season. That is why the best accounting software is ideal to have.

These platforms can help you track your expenses and income to reconcile them for tax purposes. Besides that, it will also help you manage your money better to take care of the business. So, check out the accounting software for the ideal solution for tracking income.

Do I need an accountant if self-employed?

Thanks to technology, you don’t need an accountant if you are self-employed. Instead, you can invest in the best accounting software for self-employed that will offer you such services at a fraction of the cost. In addition, these platforms are easy to use and offer advanced functionalities for a comprehensive solution.

Of course, the platform you select depends on your preferences, budget, and others. So, be sure to go through all platforms and select the one that suits your business or self-employed situation in the best way possible.

What is the easiest bookkeeping software?

There are many easy bookkeeping software you can use for your business. These include ZipBooks, QuickBooks Online, and many others. But, of course, the one that is best for you will depend on what features you want from the bookkeeping software.

Many of them also offer free plans and trials. You can opt for them and then decide if the software is easy to use for you. Once you find one, you will get the most use out of it for a long time.