All three plans offer Hubdoc, a bill and receipt capture solution. Xero offers a wide range of features, including complete custom invoicing, expense and inventory bookkeeping for independent contractors management, and bill payment options, along with a multi-currency option. Time tracking works really well, with a start button accessible from the top menu.
QuickBooks is great for a wide range of businesses from solo freelancers to brick-and-mortar empires. Start encouraging your accounts payable to take electronic payments–and then move your accounts payables and accounts receivables into the 21st century with Bill.com. Whether you’re the only person reviewing bills or you’re working with a partner or small team, Bill.com can help automate the entire review process for you. It takes just a few clicks for you and your client to get on the same page, so you can get down to work faster.
Compare the Best Accounting Software for Small Businesses
QuickBooks Self-Employed can work for freelancers and solopreneurs, but its main selling point is its built-in mileage-tracking feature. If you don’t travel frequently for work, QuickBooks Self-Employed doesn’t have much to offer. Sage Business Cloud Accounting starts at $10, falling right between Zoho Books and Xero. Unfortunately, it doesn’t offer as many features as either competitor. While you can send invoices and reconcile bank transactions with the $10-plan, you can’t capture receipts, send quotes or estimates, or thoroughly monitor your cash flow.
You can also help your clients pay by integrating an online payment portal with FreshBooks. Even Quickbooks requires you to use TurboTax for an extra fee if you want your taxes done in the same place. It is the most expensive service on this list, but includes everything you need to run your basic business administration without lifting a finger. InDinero is a full-service accounting software with accounting and tax preparation service in one.
Talk to sales
It suggests actions you can take to keep your finances sharp, such as nudging clients to pay invoices, taking care of your bills, and viewing the status of your bank accounts. Other features of note are sales tax handling (if you have to charge it) and a deep accounting section with your entire chart of accounts. And when you want a big picture view, head to the Reports section, where you can create your custom reports in addition to the five that are already in place. It’s great for a quick overview or to make important business decisions—because yes, we’re self-employed, but we’re running a business all the same. Here’s how FreshBook’s four plans shake out in terms of cost and features.
Can I use QuickBooks for myself?
QuickBooks Self-Employed helps track your income, expenses, mileage, and tax info. You may access your accounts from a web browser or the mobile app. Your data syncs in both places. In general, the mobile app is better for tasks on the go, like tracking mileage.
The Early plan limits usage and only allows entry for 20 invoices or quotes and five bills per month. This limited plan may be suitable for a micro-business with high-ticket transactions but only a few per month, such as a consulting or small service provider. This software has a clean interface and also fully integrates with a third-party payroll service. Businesses can collect payment online from customers through Xero’s integration with Stripe and GoCardless. Mary Girsch-Bock is the expert on accounting software and payroll software for The Ascent. Here are our picks for the top accounting software for freelancers and the self-employed.
The 9 Best Self-Employed Accounting Software of 2023
Hectic has all the basic invoicing and expense/receipt features in place. Each invoice has its own payment link, so your clients can view and pay it online. The user interface has a lot of open space, showing the preview of every document as you’re filling it out. And you can access reports directly on the Insights tab, showing relevant stats like net income, time worked, and your true hourly rate. The all-new FreshBooks is easy, fast and secure accounting software for self-employed professionals.
- Each plan also lets you add an additional user for $11 per month per user.
- Additionally, many accounting software allows third-party application integrations.
- Pricing begins at $12.50/month for the Simple Start plan, which goes up to $25 after three months.
- If tech support outside the regular 9 to 5 is a must for you, try Sage.
