Freelancers wear many hats—from managing clients to delivering projects to keeping track of finances. While juggling all these tasks, proper accounting often gets pushed to the side. The good news? You don’t need to be a CPA to manage your finances. With the right accounting software, freelancers can easily track income, manage expenses, and file taxes on time. Here’s a roundup of the best accounting software for freelancers in 2025.
1. QuickBooks Self-Employed
Best for: All-in-one financial tracking and tax filing
QuickBooks Self-Employed is a popular choice among freelancers due to its user-friendly dashboard and robust tax tools. It allows you to track mileage, categorize expenses, create invoices, and estimate quarterly taxes. It also integrates with TurboTax, making year-end filing seamless.
Key Features:
- Automatic expense categorization
- Mileage and travel tracking
- Quarterly tax estimation
- Simple invoice generation
2. FreshBooks
Best for: Freelancers focused on time tracking and invoicing
FreshBooks is ideal for freelancers who bill hourly or work on multiple projects. It combines accounting functions with powerful time tracking, project management, and client collaboration tools. Its intuitive interface is especially helpful for creative professionals.
Key Features:
- Time tracking and billing
- Customizable invoices
- Expense tracking
- Client portals for project updates
3. Wave
Best for: Freelancers on a budget
Wave is a free accounting software that offers most features freelancers need—without a monthly fee. You can send professional invoices, accept payments, track expenses, and view financial reports. Its simplicity makes it great for those just starting out.
Key Features:
- 100% free for core features
- Simple income and expense tracking
- Unlimited invoicing
- Direct bank connections
4. Bonsai
Best for: Freelancers looking for a contract-to-payment workflow
Bonsai offers more than just accounting—it’s an all-in-one freelance business platform. You can create proposals, sign contracts, manage tasks, and handle payments in one place. Its accounting module includes expense tracking, time logs, and automated tax reminders.
Key Features:
- Integrated contracts and proposals
- Time tracking and invoicing
- Automated tax reminders
- Payment tracking and financial reports
5. Zoho Books
Best for: Freelancers needing customization and scalability
Zoho Books is part of the larger Zoho suite and is well-suited for freelancers who may scale into a small business. It offers detailed reporting, workflow automation, and client management tools, making it highly customizable.
Key Features:
- Bank reconciliation
- Recurring invoices
- Client portal access
- Automated payment reminders
6. Xero
Best for: Freelancers who collaborate with accountants
Xero is a cloud-based accounting tool known for its sleek design and collaborative features. It’s especially useful if you work with an external accountant or bookkeeper. The software handles everything from invoicing and payroll to expense tracking and budgeting.
Key Features:
- Real-time dashboard
- Multi-currency support
- Strong integration with banks
- Accountant-friendly tools
What to Look for in Accounting Software as a Freelancer
When choosing the right accounting software, consider the following:
- Ease of use: Choose a tool with an intuitive interface
- Invoicing features: Look for customization, automation, and tracking
- Expense tracking: Essential for tax deductions and budgeting
- Tax support: Helps with estimating and filing taxes
- Integrations: Connect with your bank, PayPal, or productivity tools
Conclusion
The best accounting software for you depends on your work style, client base, and financial needs. Whether you need simple invoicing or a full business suite, there’s a tool that can make your freelance life easier. Investing in the right software not only saves time but also helps you stay financially organized and stress-free during tax season.
