5 Top Accounting & Bookkeeping Software for Self-Employed & Freelancers
- By Jordan Salas
- May 10, 2023
Our top picks
We recommend the best products based on our review process, and advertisers do not influence our picks. Our site contains links from our partners who compensate us (at no cost to you). Read our editorial guidelines and advertising disclosure.
When it comes to accounting for freelance businesses or self-employed professionals, it can be difficult to find the right tools to keep track of all of your expenses, revenues, online payments, and other financial data for some small businesses.
Luckily, there is a wide range of accounting software available specifically designed with the unique needs of freelancers and self-employed individuals in mind.
Stay on top of your finances
These programs often feature intuitive user interfaces that make it easy to navigate through transaction logs and balance sheets.
And many of them also include features like automatic bank transaction imports, so you can easily stay on top of your finances without having to manually enter each individual transaction.
Whether you are a graphic designer looking for better accounting options or a consultant seeking an efficient way to invoice clients, accounting software for freelance businesses and the self-employed are sure to help make managing your finances simpler and more streamlined.
The 5 best accounting and bookkeeping software for self-employed and freelancers
- Best overall: Freshbooks
- Best for self-employed and freelancers that got started: Quickbooks online
- Best for self-employed and freelancers that just started: MYOB
- Best for experienced self-employed and freelancers with high income: Xero
- Best for online freelancers (AKA gig workers): Sage
Freshbooks
Best overall
Freshbooks is one of the leading accounting and bookkeeping software programs specifically designed for self-employed and freelance workers.
With its intuitive interface, comprehensive features, and affordable pricing, it is a great option for anyone looking to organize their workload and track their finances efficiently.
Whether you are a graphic designer, writer, or contractor, Freshbooks is the ideal tool to help you manage your business and your personal and business expenses more effectively.
Look no further than Freshbooks
Its easy set-up process allows you to get started quickly and painlessly, while its array of customizable reports and invoicing tools make it simple to track your income and expense tracking throughout the year.
FreshBooks Accounting software offers many financial tools to freelancers in a dashboard.
Available for self-employed people around the globe Freshbooks helps with tracking earnings and spending.
This feature is suitable for:
Any freelancer worldwide with clients paying via debit/credit cards.
Pricing:
$13.50 per month for 5 customers.
Currently, its largest premium plans start at $25.50 per month for 50 clients.
So if you are looking for an accounting solution that makes life easier for self-employed workers like yourself, look no further than Freshbooks!
Pros
- Integrated expense tracking tool
- Tracking time worked
- Free API
Cons
- The mobile app is limited
- Lacks some of the features
- Businesses exclusive
QuickBooks Online
Best for self-employed and freelancers that got started
QuickBooks Online
QuickBooks is an accounting and bookkeeping software that is designed specifically for self-employed individuals and freelancers.
With its intuitive interface and extensive feature set, QuickBooks makes it extremely easy for anyone to manage their finances effectively.
QuickBooks has all the tools you need
Whether you need to track business income and expenses, monitor inventory levels, or file taxes, QuickBooks has all the tools you need.
Additionally, this software offers a range of other features like invoicing tools, payment reminders, and expense management tools that are ideal for keeping your accounting in order.
Overall, whether you’re an established freelancer or just starting out on your own, QuickBooks can help make managing your finances easier and more efficient.
Quickbooks Self Employed
Quickbooks accounting software is specifically designed for self-employed individuals or freelancers.
It is also easy to use, which can save you time and frustration when doing your accounting.
QuickBooks Self-Employed is available for specialized businesses as a freelancing tool and a solopreneur.
QuickBooks generally has no benefits for a business owner who travels often.
It also has poor billing functions. In addition, it tracks mile and tax expenditure and not sales tax.
If you want to use QuickBooks online for accounting software you can choose QuickBooks Self Employer.
In QuickBooks Online you can track miles, cash flows and sales tax data for $25 per month.
Stay up-to-date with all of your financial activity
In conclusion, With QuickBooks Self Employed, users can easily track their income and expenses, ensuring complete and accurate accounting records.
The intuitive interface of Quickbooks self-employed makes it easy to manage your finances on the go, allowing you to stay up-to-date with all of your financial activity even when you’re away from your desk.
Quickbooks self-employed also provides time tracking and online payments.
So if you’re a freelancer looking for an effective way to manage your finances, then Quickbooks Self Employed accounting software is definitely the tool for you.
With its powerful features and easy-to-use interface, it’s the perfect solution for anyone looking to streamline their accounting process and keep on top of their finances in a fast and efficient way with Quickbooks self-employed.
So why not give it a try today and see is this the right accounting software for your needs?
Quickbooks really is.
You won’t regret it!
Quickbooks pricing
When it comes to pricing, Quickbooks offers a few different options for freelancers and self-employed individuals.
The first option is the Self-Employed plan, which is designed specifically for people who work for themselves.
This plan includes all of the essential accounting features, such as tracking income and expenses, creating invoices, and managing your taxes.
The price for this plan is $10 per month, or $120 per year if you pay upfront.
The second option is the Quickbooks Online plan, which is a more comprehensive accounting solution that includes features like payroll and inventory management.
The price for this plan starts at $25 per month, or $300 per year if you pay upfront.
Finally, there is the Quickbooks Enterprise plan, which is designed for businesses with more complex needs.
This plan starts at $40 per month, or $480 per year if you pay upfront.
So, depending on your needs, Quickbooks has a pricing plan that can fit your budget.
QuickBooks Online
If you’re a freelancer or self-employed person, keeping your accounting in order is essential.
QuickBooks Online is the perfect solution for anyone looking for easy, streamlined accounting software that can be used online.
QuickBooks Online accounting software has everything you need
With advanced accounting capabilities and customizable features designed specifically for freelancers and self-employed individuals, QuickBooks Online offers everything you need to stay on top of your accounting.
Gain valuable insight into your financial activities
Whether you need to keep track of multiple clients or manage your own business expenses, QuickBooks Online accounting software has everything you need to easily stay organized and gain valuable insight into your financial activities.
QuickBooks, Quickbooks Online, and Quickbooks self-employed are one of the best accounting software for freelancers. Check why!
Pros
- Affordable price
- Easy to use and learn
- Easy to access from any device
Cons
- Limitations on amount of users
- Lacks invoice design tools
- Lack of key reports
Myob
Best for self-employed and freelancers that just started
MYOB
MYOB accounting software is a great option for self-employed and freelancers.
It is an all-in-one accounting solution that helps you to manage your finances, business expenses, expense tracking, invoicing, and bookkeeping.
The software is easy to use and has a range of accounting features that make accounting and bookkeeping for freelancers quick and simple.
Myob also offers a range of plans to suit different small business needs, so you can find the perfect solution for your business.
Whether you are just starting out or have been in business for years, MYOB accounting software can help you to manage your finances and keep on top of your bookkeeping.
MYOB offers a range of pricing plans to suit different businesses
For freelancers and self-employed workers, there is a Basic plan that starts at $10 per month.
This includes basic accounting features, such as invoicing and tracking expenses.
For businesses that need more comprehensive accounting features, there is the Standard plan, which starts at $20 per month.
This plan includes features such as inventory management and bank reconciliation.
Finally, for businesses that need even more advanced features, there is the Premier plan, which starts at $30 per month.
This plan includes things like multi-currency support and advanced reporting. Ultimately, MYOB has a pricing plan to suit every business need.
Pros
- Making invoices digitally and print-ready
- Accounting program integrates with business database
- Maintains general ledgers
Cons
- Exlusive for Australia and NZ
- May crush sometimes
- Poor customer support and slow response times
Xero
Best for experienced self-employed and freelancers with high income
Xero
Xero is a popular accounting and bookkeeping software that is well-suited to the needs of self-employed individuals and freelancers.
The main reason for this is that its interface is easy to use and intuitive, allowing you to quickly navigate your way around the program and enter essential financial data.
Additionally, Xero offers a range of features specifically geared toward self-employed individuals, such as tax accounting tools, automatic invoice generation, and detailed expense tracking.
Altogether, these features make Xero an excellent choice for anyone looking to simplify their accounting tasks as a freelancer or self-employed individual.
Xero pricing
One of the reasons for its popularity is its pricing structure, which is designed to be affordable for small businesses.
There are three main subscription plans:
The Starter plan costs $9 per month;
the Standard plan, which costs $30 per month;
and the Premium plan, which costs $60 per month.
The Starter and Standard plans both include unlimited invoicing and expense tracking, while the Premium plan also includes advanced features such as inventory management and project tracking.
There is also a free trial available for those who want to try out the software before committing to a subscription.
Overall, Xero’s pricing is reasonable and offers a good value for freelancers and small business owners.
So if you are looking to take control of your finances without having to wade through complex accounting software, then Xero is definitely worth considering.
Pros
- Provides you with unlimited users.
- Built-in payroll with automatic superannuation payments
- Real-time bank feeds and bank reconciliation.
Cons
- The requisition is basic
- Doesn’t support Exchange Trade Products
- No built-in ‘Debtor Chasing’ function
Sage
Best for online freelancers (AKA gig workers)
Sage
If you’re a self-employed freelancer, then you know how important it is to keep track of your accounting and bookkeeping.
After all, you need to make sure that you’re staying on top of your finances and that your invoices are accurate.
Fortunately, there’s a great accounting software called Sage that can help you with all of this.
Sage is definitely worth checking out
Sage is designed specifically for freelancers and self-employed individuals, so it’s easy to use and understand.
Plus, it can help you with everything from expense tracking to sending invoices.
So if you’re looking for accounting software that can help you stay on top of your finances, then Sage is definitely worth checking out.
Sage pricing
If you’re a freelancer or self-employed, then you know how important it is to keep track of your finances.
After all, you’re the one responsible for making sure that your bills are paid and that you don’t overspend.
That’s where accounting software like Sage can be a lifesaver.
Sage is a leading provider of financial software, and their prices are very reasonable.
For just $10/month, you can get access to all of their features, including invoicing, expense tracking, and tax preparation.
Plus, their software is very easy to use, so you’ll be up and running in no time.
In a summary, Whether you’re just starting out or have been self-employed for years, Sage is a great choice for keeping your finances in order.
Pros
- Desktop, cloud, and mobile access
- Multiple company functionality
- Strong reporting features and tools
Cons
- Basic design
- Limited data storage
As a freelance, how to choose the right accounting and bookkeeping software?
For freelancers, choosing the right accounting and bookkeeping software is essential.
There are a variety of accounting software programs on the market, and each has its own strengths and weaknesses.
Choose the accounting software that is right for you
The most important factor to consider when choosing accounting software is whether the program will meet your specific needs.
If you are a freelance graphic designer, for example, you will need accounting software that can track project expenses and generate invoices.
On the other hand, if you are a freelance writer, you may need accounting software that can help you manage client contracts and payments.
Once you have determined your specific needs, you can begin to narrow down your options and choose the accounting software that is right for you.
Is there any free accounting software for freelancers?
There is no single answer to the question of whether there is any best free accounting software for freelancers.
Of course, there is!
Depending on your needs, you can find great freelance accounting software which can provide you with many solutions and features.
That said, there are a number of different accounting solutions that may be suitable for those who work on their own as independent professionals.
For example, many accounting platforms offer free basic accounting features, such as tracking expenses and invoicing clients.
In addition, some accounting tools are specifically designed for freelancers and independent contractors, offering features like automatic tax calculation and expense tracking to help simplify the accounting process.
Ultimately, the ideal accounting solution for a freelancer will depend on their individual needs and budget with freelance accounting software.
Regardless of which option you choose, however, choosing freelance accounting software can be an important way to stay organized and efficient.
What features are most important to you?
Do you need something that is simple and straightforward, or do you need something with more advanced features?
Once you have a good idea of what you need, you can start narrowing down your options.
Next, take a look at reviews.
Read what other self-employed freelancers have to say about the different accounting software options.
This can be a great way to get an unbiased opinion about which option is best for you.
Finally, make sure to compare costs.
The best accounting software can vary widely in price, so it’s important to find an option that fits within your budget.
Once you’ve considered all of these factors, you’ll be well on your way to finding the best accounting software for your needs.
Accounting software for freelancers is often less expensive
First, accounting software for freelancers is typically designed to be used by a single person, whereas accounting software for the self-employed can be used by multiple people within a small business.
Additionally, accounting software for freelancers often has more robust invoicing and payments features, as freelancers typically have more client interaction than the self-employed.
Finally, accounting software for freelancers is often less expensive than accounting software for the self-employed, as freelancers typically have less need for complex features and functionality.
Ultimately, the best accounting software for you will depend on your specific needs and preferences.
Can we use these programs if we are small business owners?
For many small business owners, accounting can be a tricky and time-consuming task.
Thankfully, there are now a number of the best accounting software programs available that can make the process much easier if you run small businesses.
For freelancers and self-employed individuals, there are a number of accounting software programs designed specifically for them.
Many of these accounting software programs offer mobile apps
These programs can help to track income and expenses, as well as generate invoices and reports.
In addition, many of these accounting software programs offer mobile apps, so businesses can stay on top of their finances even when they’re on the go.
With so many different options available, there’s sure to be the best accounting software program that’s perfect for any small business owner.
It is important to have the right accounting software for your business
Many different accounting solutions are available on the market today, including Freshbooks, QuickBooks, QuickBooks Online, QuickBooks self-employed, MYOB, Sage, and Xero. An added benefit to consider when running a small business is the hiring of an accountant to bring an extra level of financial organization.
The best accounting software for freelancers and for self-employed
Whether you need tracking capabilities to stay on top of income generation and expenses or tools that allow you to easily create invoices and manage your billing processes, there will likely be a solution out there that fits your needs perfectly.
So whatever your particular situation may be, it is worth taking the time to explore all of your options when it comes to accounting software.
Whether you are self-employed or you looking for freelance accounting software, you will not regret if you choose some of these five we mentioned.
The best accounting software for freelancers and for self-employed is the one that can fit your needs.
How to stay on top with freelancing and self-employing?
Being your own boss has a lot of advantages, but it also comes with a unique set of challenges.
One of the most important things you need to stay on top of is your accounting.
When you’re employed by someone else, they handle all the financial paperwork, but when you’re self-employed, it’s up to you to keep track of your income and expenses.
An important aspect of running your own business is marketing
This can be a daunting task, but there are various accounting software programs designed specifically for freelancers and self-employed individuals.
Once you find one that works for you, keeping track of your finances will be a breeze.
In addition to accounting, another important aspect of running your own business is marketing.
Set yourself up for success
As a freelancer or self-employed individual, you need to constantly be on the lookout for new clients and projects.
Networking is key, so don’t be afraid to put yourself out there and attend industry events.
You never know who you might meet and what opportunities might come your way.
By staying on top of your accounting and marketing, you’ll set yourself up for success as a freelancer or self-employed individual.
These two areas can be daunting, but if you stay organized and stay positive, you’ll be well on your way to success.
Using accounting software on a daily basis
When you’re self-employed or working as a freelancer, accounting is often one of the last things on your mind.
After all, there are only so many hours in the day, and accounting can be pretty tedious.
However, using accounting software like Freshbooks, Quickbooks, Sage, Xero, or MYOB on a daily basis can actually save you a lot of time and money in the long run.
Accounting software programs offer helpful features
Keeping track of your income and expenses on a regular basis can help you stay organized and make tax time a breeze.
What’s more, many accounting software programs offer helpful features like time tracking, invoicing, and tracking payments that can help you run your business more efficiently.
So if you’re not already using accounting software on a daily basis, it’s definitely worth considering.
Jordan Salas
Jordan is an experienced CPA and an author & editor at Financopedia. Over the past 12 years, he has written tax and financial content for leading brands. His writing has been featured in Forbes, The Los Angeles Times, Walstreet journal, and more. Jordan enjoys watching old movies and hiking in his free time.
