The 7 Best Accounting Software for Small Businesses and Freelancers


If you have a business and aren’t currently using accounting software, tax season can be a nightmare and you’ll need to organize your books before applying for business financing. If tax time is causing anxiety, it might be time to consider using accounting software.

The choices of software to organize your books and meet your needs are vast, and it depends on your type of business, whether you have staff or are a sole proprietor or freelancer. The software you’ll find below ranges from free subscriptions to monthly subscriptions that cost $200 per month.

Quicken helps you manage your business and personal finances. You’ll be happy to know that you can generate the reports your tax collector needs at tax time. You no longer have to try to locate your invoices at the end of the year since Quicken allows you to store business and personal documents and receipts in one place.

Suppose you don’t have a separate bank account for your business purposes. In this case, Quicken allows you to identify your business, personal income and expenses even if the transactions are on the same account. Quicken also lets you personalize your invoices with your company’s branding, allowing you to print or email them directly from Quicken.

Other features you can take advantage of include budgeting and how to plan for your retirement. You can access Quicken through its web or mobile app. If you’re starting a new business and haven’t opened a bank account, you might want to learn more about mobile-only banks versus traditional banks to help you decide.

FreshBooks is for businesses with contractors, businesses with employees, freelance professionals, and freelancers. At the time of writing, the software has over 30 million users, who have issued over $60 billion paid through FreshBooks and saved 192 hours per year.

Besides having an app, FreshBooks has features that can track your time for projects and your mileage. You can create professional-looking proposals, close with e-signatures, receive payments, offer online approval, and in-app feedback to streamline your tasks.

You can also manage projects with team collaboration software that allows you to easily collaborate with your clients. The feature also allows you to track and determine the profitability of a project. The software also has features to create invoices and financial reports.

If you are a sole proprietor or a freelancer, this software may be a better fit than the Business option. With this software iteration, you can organize your receipts, sort your expenses, track your mileage, monitor your sales tax, and prepare your taxes. If you want to link your online banking account and you can’t connect to online banking? Try these tips and solutions.

You also have access to QuickBooks Assistant, an online guide to help you set up your email accounts, invoices, and receipts. You can use simple commands or ask questions to get information on income, taxes, expenses, etc., and save time by requesting a snapshot of your finances.

With Truly Small Accounting, you can send invoices, accept payments, and track your income, expenses, sales, and sales taxes. You don’t have to worry about whether you’re getting the correct data from the software since Truly Small Accounting is Internal Revenue Service compliant.

If you deal with multiple currencies in your business, Truly Small Accounting can handle it with multi-currency capabilities. The software is ideal for freelancers, owner/operators, and entrepreneurs with 500 or fewer transactions per year.

You can customize your invoices according to your brand and send them from the app. You can also add a pay now button to your invoice, making receiving payment faster and faster. The website offers a free invoice template that you can customize using Microsoft Word or Excel, Google Docs or Google Sheets.

Fiverr Workspace is a great tool for freelancers. You can submit proposals, prepare contracts, and stay organized with time tracking tools that enable automated task prioritization.

Fiverr Workspace lets you customize and automate your invoices and accept payments securely and quickly in any currency by bank transfer, PayPal or credit card. The platform also provides features to track your expenses, analyze your income, and prepare for tax season.

The work you track in Fiverr Workspace doesn’t have to be related to work coming from the Fiverr platform. While a free version of the software is available, you won’t be able to customize contracts, get unlimited client management, branded materials, 360° business analytics, or priority support.

ZipBooks provides accounting solutions to manage your billing and expenses. You can customize your invoice to suit your needs, matching your branding and contact information. You can also track when you receive payment, view invoice history, overdue balances, and taxes collected.

If you have customers who keep claiming they haven’t received your invoice, you’ll know for sure since ZipBookss tells you when a customer has viewed an invoice. You can also send late payment reminders, track your time, manage vendors, and track your time.

ZipBooks has a mobile app that lets you store and back up your receipts. The software also allows you to split expense categories so you can assign the amounts to the appropriate account. If you’re wondering what your options are for getting paid for your work, you should check out the best apps to make money online as a freelancer.

Bonsai promises to take you from proposal to tax season stress-free with its platform. The creators designed the software to help freelancers accomplish more while working less. Smart and deep platform integration gets you paid and saves you time.

With Bonsai, you can create invoices and collect payments, track expenses and time, and generate reports for tax season. You can also develop proposals and create contracts.

Bonsai is a freelancer’s dream because it lets you focus on the work you love, leaving the rest to the software. If you think you’re not ready for accounting software and still want to know your business’ cash flow, you might want to learn how to create a cash flow statement in Microsoft Excel.

Easily manage your company’s financial data

The list above is not exhaustive, and if the software listed does not meet your needs, you are sure to find one that does. The important thing is to organize your business finances to get a clear picture of how the business is doing and to make your life easier during tax time.

Freelancers who think they’re fine with your spreadsheets so they don’t need to invest in software should consider how much time they can save. If you need more convincing, you should read why you should invest in independent accounting software; they also apply to small business owners.


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