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The Best Accounting Software For Freelancers

These easy-to-use, affordable accounting solutions will help you manage your freelance finances and taxes so that you can get back to doing what you love.

    Matt Sherman
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Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
Best accounting software for freelancers

There are over 55 million freelancers in the US, and with individual workers feeling more empowered right now, that number is anticipated to spike. If you are currently a freelancer or about to set off on your own, you may still need some help crunching the numbers. We can provide you with what we consider to be the best accounting software for freelancers.

As a freelancer, it’s easy to focus on growing your business, finding new clients, creating marketing campaigns — anything but accounting. However, having a strong accounting process and being in control of your business’s finances is the key to running a successful business. Luckily, there are plenty of easy-to-use, affordable accounting solutions that will help you manage your freelance finances and taxes quickly, so you can get back to doing what you love.

Learn More About Our Top Picks

CompanyBest ForNext StepsBest For
QuickBooks Self-Employed

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  • Best for freelance taxes
  • $15-$30/month
  • Turbo Tax integration available for easy tax filing
  • Best for freelance taxes
  • $15-$30/month
  • Turbo Tax integration available for easy tax filing

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Fiverr Workspace

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  • Best for proposals & contracts
  • $18/month
  • Unlimited clients & strong contracts features including legal compliance
  • Best for proposals & contracts
  • $18/month
  • Unlimited clients & strong contracts features including legal compliance

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Wave

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  • Best complete freelance accounting software
  • $0/month
  • Offers basic accounting & bookkeeping or tax support add-ons
  • Best complete freelance accounting software
  • $0/month
  • Offers basic accounting & bookkeeping or tax support add-ons

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FreshBooks

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  • Easiest freelance accounting software to use
  • $15-$50/month
  • Strong invoicing features & customer support
  • Easiest freelance accounting software to use
  • $15-$50/month
  • Strong invoicing features & customer support

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Xero

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  • Best freelance accounting mobile app
  • Starts at $12/month
  • Scalable for growing businesses
  • Best freelance accounting mobile app
  • Starts at $12/month
  • Scalable for growing businesses

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Read more below to learn why we chose these options.

The 5 Best Accounting Software For Freelancers

The best accounting software for freelancers makes it easy to track expenses, send invoices, and more — no experience required. Track your business finances with these freelance accounting software picks, including QuickBooks Self-Employed, Fiverr, Xero, and Wave.

1. QuickBooks Self-Employed: Best Freelance Accounting Software For Freelance Taxes

QuickBooks Self-Employed



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Pros

  • Suited for freelancers
  • Good tax support
  • TurboTax integration
  • Well-designed UI

Cons

  • No state tax support
  • Limited invoice features
  • Unscalable

QuickBooks Self-Employed was designed specifically to help freelancers manage their finances and file their taxes easily. QuickBooks Self-Employed is incredibly easy to use, offers great mobile apps, and has the best tax support of all three programs on this list.

The software helps you calculate your estimated quarterly taxes, track your mileage, find other deductions, such as the home office deduction, and even has a TurboTax integration for easy filing. On top of tax support, QBSE also helps freelancers keep track of their income and expenses.

quickbooks self employed dashboard

QuickBooks Self-Employed Pricing

QuickBooks Self-Employed offers three pricing plans ranging from $15-$35/month. The two most expensive plans include a built-in TurboTax integration and the ability to pay estimated quarterly taxes online. The $35/month plan also comes with year-round support from a CPA, including a final tax return review.

QuickBooks Self-Employed Features

QuickBooks Self-Employed has a strong feature set, and, especially with its tie-in with TurboTax, it thrives when it comes to tax support. Here’s an idea of what QuickBooks Self-Employed has to offer:

  • Track income and expenses
  • Separate personal and business expenses
  • Invoicing
  • Record tax deductions
  • Fixed asset management
  • Calculate estimated quarterly taxes

Would QuickBooks Self-Employed Work For My Business?

QuickBooks Self-Employed is ideal for freelancers looking for tax support, a way to separate personal and business expenses, and basic expense tracking. QuickBooks Self-Employed is one of the best accounting and tax support solutions out there for the self-employed. The software offers the most advanced level of tax support on the market. While this isn’t a full-fledged accounting app, it allows freelancers to manage their income and expenses.

Get Started With QuickBooks Self-Employed

Read our in-depth review

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2. Fiverr Workspace: Best Freelance Software For Managing Contracts

Fiverr Workspace



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Pros

  • Suited for freelancers
  • Free plan available
  • Easy to use
  • Excellent customer service
  • Excellent mobile apps

Cons

  • No tax support
  • Limited integrations
  • Unsuited for product-based businesses
  • Not full accounting software

Fiverr Workspace (previously AND CO) is one of the leading freelance marketplaces. The software is easy to use, offers great customer support, and provides traditional accounting features, such as time-tracking and project management.

While the software does not offer tax support, it has a one-of-a-kind contract feature that allows you to create legal contracts for projects that are compliant with the Freelancers Union. This enables you to dictate who retains rights to your work and accept signatures directly from clients.

fivver workspace dashboard

Fiverr Pricing

Fiverr has a free plan for freelancers with a single client and a paid plan which costs $18/month. The larger plan includes unlimited clients, additional reports, and more advanced proposals and contracts.

Fiverr Features

While Fiverr may lack tax support, the software has most of the basics covered, and its feature set offers a lot for the low starting price point. Here are some of the features Fiverr has to offer:

  • Invoicing
  • Contact management
  • Expense tracking
  • Time tracking
  • Project management
  • Proposals
  • Contracts
  • Subscriptions

Would Fiverr Work For My Business?

Fiverr is ideal for freelancers who don’t need the extra tax support of QuickBooks Self-Employed and would rather have more traditional accounting features, contracts, and better customer support.

Fiverr is a great accounting and finance management tool for freelancers. The main drawback is that there is no tax support. However, you won’t find such developed proposal and contract features anywhere else.

Get Started With Fiverr Workspace

Read our in-depth review

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3. Wave: Best Complete Freelance Accounting Software

Wave



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Pros

  • Free
  • Easy to use
  • Numerous features
  • Attractive invoice templates
  • Good support materials
  • Help from expert accountants is available

Cons

  • Limited mobile apps
  • Unsuited for large businesses
  • Poor customer support

Wave is a free accounting software solution that offers an incredible number of features for $0/month. While the software wasn’t designed specifically for freelancers like QuickBooks Self-Employed and Fiverr, Wave is one of the best accounting programs to fit the needs of freelancers. It’s affordable, easy to use, and allows business owners to separate personal and business accounting.

wave accounting dashboard

Wave Pricing

Wave only offers one accounting package, and it’s completely free. There are no user or feature limits. You get all of the great features of Wave for $0/month; the only extra costs are payment processing, payroll, and professional bookkeeping services.

Wave Features

For free software, Wave offers an extremely generous feature set. While you won’t find tax support, Wave does offer strong accounting and is full-fledged accounting software. Because Wave is actual accounting software, it’s the only program on this list that will allow you to balance the books. Here are the features you’ll find with Wave:

  • Invoicing
  • Estimates
  • Contact management
  • Expense tracking
  • Accounts payable
  • Inventory
  • Reports

Would Wave Work For My Business?

Wave is ideal for self-employed individuals looking for a full accounting solution or those who need an affordable way to manage their freelance finances.

Wave is an affordable accounting program that gives you strong accounting and tons of features without breaking the bank. The software does not offer tax support, but it does offer payroll, making it a scalable solution if you plan on growing your freelancing business. The professional bookkeeping services are also great for freelancers who aren’t comfortable doing their own accounting or simply don’t have the time.

Get Started With Wave

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4. Freshbooks: Easiest Freelance Accounting Software To Use

FreshBooks



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Pros

  • Simple interface
  • Numerous integrations
  • Strong invoicing
  • Excellent customer service
  • Excellent mobile app

Cons

  • Limited users
  • App is pricy
  • No built-in payroll

FreshBooks is an excellent piece of accounting software that features an incredibly simple and well-designed interface that is well-suited for freelancers who may be new to doing their own accounting. It has a wealth of integrations, including Gusto, Basecamp, and more than 100 others, and has a very solid mobile app to help you run your business on the go. It’s also relatively affordable and has terrific customer service.

freshbooks dashboard

FreshBooks Pricing

FreshBooks has plans running from $15 up to $50 per month. The cheapest plan comes with unlimited invoices and estimates, and you can add extra users and advanced payments for additional fees.

FreshBooks Features

FreshBooks has a strong feature set that freelancers can take advantage of from its well-designed dashboard. You won’t find many holes in the software offerings, and you can always upgrade your plan. Here are some of FreshBooks’ top features:

  • Invoices
  • Estimates
  • Client portal
  • Expense tracking
  • Bank reconciliation
  • Accounts payable
  • Time tracking
  • Proposals

Would FreshBooks Work For My Business?

While FreshBooks is a little costlier than some of the free programs, it has its benefits. Along with great customer service and a complete feature set, FreshBooks is scalable if your accounting needs get more involved. It is also one of the best accounting software programs for individuals who may be running their own books for the first time, thanks to its very user-friendly interface.

Get Started With FreshBooks

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5. Xero: Best Freelance Accounting Mobile App

Xero



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Read our Review

Pros

  • Unlimited users
  • Numerous integrations
  • Highly scalable
  • Advanced feature set
  • Excellent mobile app

Cons

  • Higher learning curve
  • Sketchy customer service

Xero is one of the top accounting platforms around, boasting a rich feature set and a huge number of integrations. And while it can handle accounting needs for large corporations, it can also suit the needs of freelancers. Xero is probably best suited for freelancers that have some advanced accounting needs with invoicing or time tracking, but it is also highly scalable should you need to expand.

xero dashboard

Xero Pricing

Xero starts at $12/month and has multiple pricing plans. Its simplest plan has unlimited users but limits you to 20 invoices.

Xero Features

Unsurprisingly, Xero has an extremely rich feature set that you can tap into with its higher-tier services. But its Early plan is fine for freelancers just starting out and is generous for the price. Here are some of Xero’s top features:

  • Reconcile bank transactions
  • Live bank feeds
  • Inventory management
  • Reports
  • Unlimited users
  • Purchase orders
  • Document storage

Would Xero Work For My Company?

Xero is one of the more scalable accounting options out there, and if you feel like your accounting needs are going to grow in the near future, it should certainly be on your list. Xero also has a fantastic mobile app, so if you are someone who wants to keep tabs on your invoices from anywhere, it’s tough to go wrong with Xero.

Get Started With Xero

Read our in-depth review

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Choosing The Best Freelance Accounting Software For Your Business

Running a freelance business can be difficult, but with the right tools, you can set your business up for success. With strong, freelance-friendly bookkeeping software, you can manage your finances and gain valuable insight into your business’s income and expenses. Identifying your freelance needs and examining your current financial process can help you decide which program is the perfect fit for your business.

Email marketing software could help you grow your clientele, while a website builder could help you create a professional brand. And a payment processing app could help you increase your sales. Here at Merchant Maverick, our goal is to help you find the best software to help your business succeed. We have hundreds of reviews across multiple software industries so that you can find the perfect software combo. Check out our comprehensive reviews and our other freelance resources as well, like our top 20 freelance deductions post.

Freelance Accounting Software FAQs

What is the best freelance accounting software?

The best freelance accounting software is based on your business’s needs. Wave, QuickBooks Self-Employed, Fiverr, FreshBooks, and Xero are some of the best accounting programs for freelancers.

What is the best accounting software for freelance taxes?

If you want built-in tax support in your accounting software, you can’t go wrong with QuickBooks Self-Employed. This software makes it easy to prepare and file your taxes with features such as mileage tracking, a quarterly tax calculator, and built-in TurboTax integration.

How do I track my self-employment taxes and deductions?

Sometimes, you can track self-employment taxes and deductions right within your accounting software. Accounting software such as QuickBooks Self-Employed comes equipped with built-in tax support so that you can be ready to file at tax time.

Are there any free accounting software for the self-employed?

Wave offers a forever-free plan that doesn’t impose limitations on features, an outdated UI, or ads filling up your screen. Instead, you get attractive, easy-to-use software at absolutely no cost.

How much does freelance accounting software cost?

The cost of freelance accounting software varies based on the software you choose and any add-ons you purchase. Wave, for example, offers free accounting software, but you must pay for add-ons such as payroll or payment processing. QuickBooks Self-Employed, on the other hand, has plans that go as high as $35/month, but this plan offers unmatched tax support.

In Summary: The 5 Best Accounting Software For Freelancers

  1. QuickBooks Self-Employed:
    • Best for freelance taxes
    • $15-$30/month
    • Turbo Tax integration available for easy tax filing
  2. Fiverr Workspace:
    • Best for proposals & contracts
    • $18/month
    • Unlimited clients & strong contracts features including legal compliance
  3. Wave:
    • Best complete freelance accounting software
    • $0/month
    • Offers basic accounting & bookkeeping or tax support add-ons
  4. FreshBooks:
    • Easiest freelance accounting software to use
    • $15-$50/month
    • Strong invoicing features & customer support
  5. Xero:
    • Best freelance accounting mobile app
    • Starts at $12/month
    • Scalable for growing businesses
Matt Sherman

Matt Sherman

Expert Analyst & Reviewer at Merchant Maverick
A former sports editor and journalist, Matt Sherman has been writing about and researching small business software since 2015, with a special emphasis on retail and restaurant sales. Matt's expert opinions are cited in various industry publications, including Fox Business. He is a graduate of the University of Oregon.
Matt Sherman
View Matt Sherman's professional experience on LinkedIn.

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The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation.

Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships.

Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.

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