You've been freelancing for six months. Your "accounting system" is a spreadsheet with optimistic categorizations and a shoebox of receipts. Tax time is approaching and you're dreading it. Time to get a real tool.
Wave
Wave is free. Genuinely free, not free-with-a-catch. It handles invoicing, expense tracking, receipt scanning, and basic financial reports. The trade-off is simplicity. It's less automated than the paid options, and the interface is more utilitarian than beautiful. Wave makes money on payment processing and payroll add-ons, so the core accounting features are truly free. Best for freelancers just starting out or those with straightforward finances who want to spend zero on tools.
QuickBooks Self-Employed
QuickBooks Self-Employed is built specifically for freelancers and independent contractors. Its killer feature is automatic expense categorization and mileage tracking. It separates business and personal spending, estimates quarterly taxes, and integrates with TurboTax at filing time. Pricing starts around $15/month. Best for freelancers who want their tax prep to essentially handle itself.
FreshBooks
FreshBooks leans toward invoicing and client management. If your freelance work involves sending proposals, tracking billable hours, and chasing late payments, FreshBooks is purpose-built for that workflow. Time tracking, project profitability reports, and a client portal are standout features. Pricing starts around $17/month. Best for service-based freelancers who bill by the hour or by the project.
How to Decide
If money is tight, start with Wave. Free is hard to beat when you're building a business. If you want tax automation, QuickBooks Self-Employed is the most "set it and forget it" option. If client-facing invoicing is your priority, FreshBooks is cleaner and more professional.
Before choosing, use our Freelance Rate Calculator to make sure your rate actually covers the cost of tools, taxes, and insurance. A $15/month software subscription is $180/year, which is about 3 hours of work at $60/hour. If it saves you 3+ hours of manual bookkeeping per year, it pays for itself.
Our pick for freelancers: FreshBooks. Professional invoicing, time tracking, and expense management designed for freelancers who bill clients. Unlimited invoicing on all plans. Try free for 30 days →