That said, QuickBooks Self-Employed lacks certain features that most sole proprietorships will need eventually—if not right away. If you’re not a freelancer, you may want to look into QuickBooks Online instead. Freelancers assets = liabilities + equity and solopreneurs who travel frequently for work are eligible for tax reimbursements per miles traveled. If you drive for hours each month, you’ll want to capitalize on that reimbursement—and QuickBooks Self-Employed can help. With built-in mileage tracking and report generation, QuickBooks simplifies the reimbursement process so you can get that gas money back a little faster.

Best self employed accounting software comparison (top 10 highest rated)

Some apps provide context-sensitive help along the way and a searchable database of support articles. Others praised kashoo’s customer support, describing it as prompt and helpful when resolving issues. 5 out of 5 on capterra, with users praising its affordability when compared to other accounting software. Each plan offers different features and capabilities, so be sure to check which plan best fits your business needs. Additionally, zoho books offers a 14-day free trial so you can try it out before committing to a plan.

• With these always at the top of my screen, I could easily complete key actions.
• Users also applaud its ease of setup and use, making it an ideal option for those with little to no experience in accounting software.
• Designated fields allowed me to choose due dates, list terms and conditions and input notes to the client.
• Features include AI-powered financial insights, automated expense tracking, simplified tax preparation, and free invoicing.
• With plans starting at $15 a month, FreshBooks is well-suited for freelancers, solopreneurs, and small-business owners alike.

OneUp (good self employed accountancy software for inventory management)

• Accounting software also generates financial reports for you, which is a crucial part of creating a small business that many first-time business owners aren’t aware of.
• The accounting software highlighted here starts at $20 per user per month or less.
• The Reports feature lets you see how well your business is performing.
• Since bank reconciliation is an absolutely foundational accounting task, we can only recommend FreshBooks’s cheapest plan to freelancers or brand-new startups with just a few transactions a month.
• Because it’s so flexible and user-friendly, it appeals to a wide variety of business types.

Most notably, it lets you set automatic customer payment reminders, create recurring expense profiles, and manage 1099 contractors. To find the best sole proprietor accounting software, consider factors like cost, features, user reviews, and ease of use. Yes, because you need accounting software if you want to spend less time managing your company’s books. Startups and high-growth businesses may need to handle investors and employee stock options but lack the expertise. Pilot is one of the few platforms to offer equity management as one of its features for a range of transactions including transferring ownership or issuing new grants.

The 5 Best Accounting Software for the Self-Employed

Accounting software aims to make accurate and sole trader accounting complete recordkeeping easier. You do not need to have a strong accounting background to use accounting software. It would certainly help to have bookkeeping knowledge, but it’s not absolutely necessary.

Intuit QuickBooks Online

Few people in your organization will likely need access, but these bookkeeping and payroll services rates make it possible to add users without much issue. Just keep in mind that prices go up quickly as you opt in for more features or require more licenses. Brightbook offers invoicing, expense tracking, and financial reporting to help self-employed individuals maintain accurate records. All in all, I would say that this software is easy to use but I would have preferred it included some features it lacked, such as the ability to send payable invoices from the platform. It was also confusing at times, given that features I expected it to have were nowhere to be found, such as automated sales tax calculations on the invoice form.