Are you tired of spending long hours doing your accounting by hand as a freelancer? Are you unsure if investing in accounting software is worth the cost? Luckily, there are several affordable options available, including free ones. In this guide, we have compiled a list of the top six accounting software for freelancers.
Comparison of top accounting software for freelancers:
Apart from pricing, there are various features to consider when choosing the best accounting software for your freelancing needs. These features include expense tracking, native time tracking, and inventory management. Here are the top accounting software for freelancers with their starting price and key features:
1. FreshBooks: Best overall accounting software for freelancers
– Starting price: $19/mo
– Features: Expense tracking, native time tracking, inventory management
– Pros: Transparent pricing, payroll integration, user-friendly interface
– Cons: Additional user charges, limited clients on the Lite plan
– More information: Read the full FreshBooks review
2. Xero: Best for product-based businesses
– Starting price: $15/mo
– Features: Expense tracking, native time tracking, inventory management
– Pros: Unlimited users, guided setup process, payroll integration
– Cons: Limited features on the Early plan, no telephone support
– More information: Read the full Xero review
3. Wave Accounting: Cheapest option
– Starting price: Free
– Features: Expense tracking, mobile receipt capture
– Pros: Completely free plan, unlimited invoices and bank accounts
– Cons: Mobile receipt capture requires payment, limited accounting features
– More information: Read the full Wave Accounting review
4. Zoho Books: Most fully featured
– Starting price: $0 – $275/mo
– Features: Custom invoice creator, native time tracking, extensive integration options
– Pros: Free Zoho Books webinar, scalable pricing plans, extensive integrations
– Cons: Additional user fees, email-only support for free plan
– More information: Read the full Zoho Books review
5. QuickBooks Self-Employed: Best tax tracking
– Starting price: $30/mo
– Features: Invoicing, expense tracking, mileage tracking
– Pros: Comprehensive accounting features, unlimited invoices, familiar to accountants
– Cons: Higher prices, limited number of users per plan
– More information: Read the full QuickBooks Online review
6. Sage 50 Accounting: Best support for growing businesses
– Starting price: $58.92/mo
– Features: Invoicing, bill payment, inventory tracking
– Pros: Multiple currency support, affordable pricing plans, extensive knowledge base
– Cons: Higher starting prices, interface may seem outdated
– More information: Read the full Sage Accounting review
Key features to consider when choosing accounting software for freelancers:
Apart from pricing, there are essential features to consider when selecting the best accounting software for freelancers. These features include invoicing, time tracking, expense and mileage tracking, reporting, and inventory tracking.
Tips for choosing the best accounting software for freelancers:
Consider your budget and specific needs when selecting accounting software for freelancers. Make use of free trials and demo calls to test out different software and determine which one meets your requirements. Consider a month-to-month subscription initially to avoid getting locked into a long-term contract with software that may not be suitable for you.
Methodology:
To determine the best accounting software for freelancers, we analyzed user reviews and product documentation. We considered factors such as pricing, customer support, and user satisfaction. We also evaluated features including invoicing, time tracking, expense tracking, mileage tracking, inventory tracking, and financial reports.
