Best Accounting Software For Freelancers

by Navicasoft
24 Vendors Reviewed
19 Hours of Research
23 Experts Interviewed

Successful freelancers know everything about their finances. One of the most important aspects is accounting and record keeping. It’s crucial to stay on top of this aspect in order to make informed decisions about your business or any future decisions such as when/where/if you should take on a new project; how much time/money should be allotted; what rate you should charge for this work, etc.

Best Accounting Software For Freelancers

The best accounting software for freelancers allows you to do all this. Below you can find the list of the most popular accounting software for freelancers.

Our Top 5 Best Accounting Software For Freelancers

Best Accounting Software For Freelancers Reviews

1. Best Overall: Xero

Xero Xero logo

Our rating: ★★★★★

If you’re a freelancer who needs to manage their finances but you’re not really keen on the idea of paying for an accountant, Xero’s accounting software is just what you need. With Xero, you can pay bills, claim expenses, bank connections and accept payments.

The software helps you track projects, and has the capacity to capture data that will be useful to your business. Xero is a very simple program to use. It’s not complicated because it relies on user-friendly software so all your work is visible in front of your eyes in a spreadsheet format that’s easy enough for any level of a computer user.

Xero review

I recommend Xero to freelancers who don’t need an accounting degree or who are just starting their business and want a system that works for them as they grow. Freelancers who are just starting out should definitely start with Xero as it is very affordable and requires few steps to set up. Freelancers who are more advanced might find the addition of a bookkeeper to assist them easier than managing their own finances.

2. Best for Professional-Looking Invoices: FreshBooks

FreshBooks FreshBooks logo

Our rating: ★★★★★

Unlike traditional accounting software, Freshbooks is designed specifically for freelancers and small teams. Freshbooks helps freelancers send invoices when they’re due, accept online payments easily without having to set up a merchant account. 

In addition to the invoressing features, Freshbooks includes a journal for tracking expenses and it even offers automatic reminders before deadlines. When you need to make an accounting entry for a business expense or time-sensitive task, it’s easy to create a record in Freshbooks.

FreshBooks review

This is an excellent thing for freelancers who want to keep track of their client payments and time, but money matters are never fun. For people like you and me who are already struggling with the hardships of freelancing, especially during tax season, it’s important to know that Freshbooks accounting software is a good idea.

Stay on top of your work, easily keep track of deadlines and let clients know when they’re due. If you have a client or two who always complains that the freelancer messed up their invoices, this is an excellent thing for you because you can encourage them to use Freshbooks instead. 

It’s not that difficult, and there are many ways to make your life easier. Just ask your client if they’d be interested in using Freshbooks for their accounting needs, and you’ll see how thankful they are for it.

Freshbooks also helps freelancers stay on top of their work. If you’re tired of feeling overwhelmed and wondering if you have enough time to get everything done, this is a good thing for you because you’ll only be spending an hour or two every week on taxes. It’s a great way to leave your taxes up to the experts.

Budgeting is important for small businesses, especially if they’re operating out of their homes. You don’t want to waste money on unnecessary purchases, and Freshbooks can help with that. You don’t have to worry about forgetting any expenses because Freshbooks keeps track of them for you and encourages users to make expense reports within the app itself.

3. Best Easy-to-Use Software: FreeAgent

FreeAgent FreeAgent logo

Our rating: ★★★★★

FreeAgent is an accounting software aimed at freelancers, contractors, and small business owners. Their system has been designed with the needs of freelancers in mind and offers a host of features specifically tailored towards those working in or aspiring to work in self-employment. FreeAgent has different paid plans that provide more functionality when your business needs it.

FreeAgent review

Their system is based on an entirely cloud-based platform, meaning you can access your data remotely regardless of which device you’re using. It’s also multi-currency enabled, meaning that foreign exchange rates are automatically calculated and shown in all your reports. 

4. Best Complete Accounting Solution: Wave

Wave Accounting Wave Accounting logo

Our rating: ★★★★★

As a freelancer, you don’t have the benefits of regular employment. Therefore, you need to keep track of your finances and tax information. 

Many freelancers can’t afford to hire an accountant and settle for using a spreadsheet or some other system that doesn’t provide all the features that Wave Accounting does. 

Wave review

Is Wave accounting software for freelancers the answer to freelancer’s needs? Let’s take a look at what it has to offer: 

  • It’s easy enough for anyone, even if they’ve never used accounting software before. 
  • It’s very user-friendly. The program is so easy to use, you can do it all on your own without any help from your accountant. 
  • You don’t need a computer science degree or any experience in the field to use it effectively. 
  • It tracks your income and expenses whether you’re working full-time or part-time. 
  • It takes about two minutes to set up the basics and start using it immediately. 

5. Best Customer Support: AND CO


Our rating: ★★★★★

Some freelancers may be tempted to ignore the aspect of bookkeeping and managing taxes. However, there are many different software and apps that assist with these tasks across multiple devices so you can continue on your work without interruptions. This post aims to introduce a few of the better programs available for freelancers that will help maximize workflow.

AND CO review

One of the best programs that freelancers can use is AND CO accounting software. It is an online program that saves time on bookkeeping and helps manage taxes. This program includes dozens of features to help you stay on top of your finances. These tools include everything from importing income directly from clients to creating estimates for those still working out a deal. The software works across all devices, including computers, phones, and tablets.

The program also includes tax-specific features like tax reports that will save you significant amounts of time by compiling all information into one easy document. These reports are even more helpful because they can be shared with both you and your clients.

The AND CO accounting software also includes tracking features for personal finances so that you can stay on top of your other investments. This gives you more information about where your money is going, allowing for better decision-making down the line. You can also create a free account to connect with others who are in similar situations and help each other out on projects.

Buyer’s Guide

Freelancers are a growing demographic in the American workforce. In 2019 stats show that 53 million people are freelancing, 34% of the total US workforce, and expected to grow to 40% by 2023. With such a large percentage of the population freelancing, accounting software for freelancers is an increasingly popular product on the market to keep track of finances and save money by keeping business expenses separate from personal ones.

What Is Accounting Software For Freelancers?

What Is Accounting Software For Freelancers?

Accounting software for freelancers is a piece of software designed to simplify accounting for the business of freelancers. The software is designed to help keep track of client payments, invoices, email marketing tasks, and other essential business functions. As a result, businesses that use accounting software for freelancers can keep their books in order while providing their clients with an efficient experience.

Accounting Software For Freelancers Main Benefits

If you are a freelancer, the chances are that accounting is probably a severe headache. Nowadays, the best accounting software for freelancers takes care of that problem. Accounting software helps you save time on mundane tasks so you can focus your energy elsewhere. It also ensures accuracy, which is especially important when dealing with tax time.

There are many options for freelancers to choose from when it comes to accounting software. But which one is the best? Below are a few qualities to look out for on your search.


As a freelancer, you will likely be dealing with multiple clients at one time. You will be working on different tasks, and they will require varying amounts of support in terms of tracking and invoicing. Don’t worry if you aren’t sure which accounting system works for you because there are programs that can suit any type of business model.


There is nothing worse than software that malfunctions at the wrong time or refuses to update due to an outdated application. You want to trust that the accounting software you choose will support your needs and allow you to grow as a freelancer.


As a freelancer, one of the things that you need to make sure is that you don’t go over your budget. You’ve already spent money getting started, so the last thing you want is for your accounting software to drain even more of your funds. The best accounting software for freelancers will be cost-effective, so it doesn’t put a dent in your finances.


One of the essential aspects of accounting software for freelancers is usability. You need to use it easily, understand the program’s structure, and have all of your accounting needs addressed.

Features Of The Accounting Software For Freelancers

The accounting software for freelancers is the only accounting software for financial reporting that provides you with a complete understanding of your business and financial situation. It also helps you to make smart decisions that may impact your taxes, payroll, and personal.

  • Multiple Tax Reporting Options – With the accounting software for freelancers, you can access all of your reports at any time–including one-time or periodic tax filings and returns. No matter what type of tax due date is coming up, it’s easy to see what needs to be paid so that you’re prepared on time. Plus, you can get peace of mind by filing tax returns on time every year.
  • Detailed Reports – No matter what financial information you want to see, the accounting software for freelancers is designed to provide it all in one place. In addition, you’ll be able to easily switch between accounting reports and business information so that you’re always getting the latest info on your business and finances.
  • Simple Interface – The accounting software for freelancers is easy to use so that everyone in your company can check their finances at any time–from anywhere. Plus, you can easily share information with your employees–so they’ll be able to understand precisely how their work is impacting your business.
  • Integrated Payroll System – If you have a company and want to serve your employees with the most convenient payroll software, we’ve got you covered. With a payroll service, your accounting for the entire company all fits into a single POS system.
  • Customizable Company Information and Settings – The accounting software for freelancers comes with customizable company information so that it fits the way you work.


Can A Bookkeeper Do Payroll?

Suppose you’re a small business owner or a freelancer and don’t have a dedicated payroll specialist on staff. In that case, you may be considering hiring a bookkeeper to do your company’s payroll. But a bookkeeper usually is not qualified to do payroll. Payroll is a complicated operation and should be left to an expert.

How Much Does A Bookkeeper Charge Per Month?

There are so many variables to consider, but it’s easy to get a ballpark figure online. For example, The Society of Certified Public Accountants (CPA) lists average salaries on their website for accountants and auditors from $700 to $3.000 per month.

Are Self Employers Use Accounting Software?

The answer to this question is dependent on the business type, for example, a storekeeper who sells their wares in person. A storekeeper doesn’t need an accountant because they don’t have accounts to manage. The accounting software is for those who have accounts to work and need it, like an online businessman or freelancer.

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