Quick Overview
- 1#1: QuickBooks Solopreneur - Tailored accounting for solopreneurs with mileage tracking, expense categorization, and seamless TurboTax integration.
- 2#2: Wave - Free cloud accounting software providing invoicing, expense tracking, and bank reconciliation for sole proprietors.
- 3#3: FreshBooks - User-friendly invoicing, time tracking, and expense management designed for freelancers and sole proprietors.
- 4#4: Xero - Robust cloud accounting with bank feeds, unlimited invoicing, and tax-ready reports for small businesses.
- 5#5: Zoho Books - Affordable online accounting with automation, client portals, and multi-currency support for sole proprietors.
- 6#6: ZipBooks - Free starter accounting with smart invoicing, time tracking, and profitability insights for small operations.
- 7#7: Invoice Ninja - Open-source invoicing and accounting tool with recurring billing, payments, and expense tracking.
- 8#8: Manager.io - Free desktop and cloud accounting software with unlimited users and multi-currency for sole proprietors.
- 9#9: GnuCash - Free open-source double-entry accounting for personal and small business financial management.
- 10#10: Akaunting - Free self-hosted accounting software with invoicing, expenses, and reports for freelancers.
Tools were chosen based on features essential to sole proprietors (e.g., invoicing, mileage tracking), user experience, reliability, and value, ensuring they cater to both simplicity and functional depth.
Comparison Table
Sole proprietors seeking efficient accounting tools will find clarity in this comparison table, which includes popular options like QuickBooks Solopreneur, Wave, FreshBooks, Xero, Zoho Books, and more. Readers will explore key features, pricing structures, and user-friendliness to identify the best fit for their unique business needs.
| # | Tool | Category | Overall | Features | Ease of Use | Value |
|---|---|---|---|---|---|---|
| 1 | QuickBooks Solopreneur Tailored accounting for solopreneurs with mileage tracking, expense categorization, and seamless TurboTax integration. | specialized | 9.5/10 | 9.2/10 | 9.8/10 | 9.6/10 |
| 2 | Wave Free cloud accounting software providing invoicing, expense tracking, and bank reconciliation for sole proprietors. | specialized | 9.2/10 | 8.7/10 | 9.6/10 | 10/10 |
| 3 | FreshBooks User-friendly invoicing, time tracking, and expense management designed for freelancers and sole proprietors. | specialized | 8.6/10 | 8.4/10 | 9.4/10 | 7.9/10 |
| 4 | Xero Robust cloud accounting with bank feeds, unlimited invoicing, and tax-ready reports for small businesses. | specialized | 8.5/10 | 9.2/10 | 8.7/10 | 7.8/10 |
| 5 | Zoho Books Affordable online accounting with automation, client portals, and multi-currency support for sole proprietors. | specialized | 8.7/10 | 9.0/10 | 8.5/10 | 9.2/10 |
| 6 | ZipBooks Free starter accounting with smart invoicing, time tracking, and profitability insights for small operations. | specialized | 8.2/10 | 7.9/10 | 9.1/10 | 9.3/10 |
| 7 | Invoice Ninja Open-source invoicing and accounting tool with recurring billing, payments, and expense tracking. | specialized | 7.8/10 | 8.2/10 | 7.9/10 | 9.1/10 |
| 8 | Manager.io Free desktop and cloud accounting software with unlimited users and multi-currency for sole proprietors. | specialized | 8.7/10 | 9.2/10 | 7.6/10 | 10/10 |
| 9 | GnuCash Free open-source double-entry accounting for personal and small business financial management. | specialized | 7.6/10 | 8.1/10 | 5.8/10 | 9.7/10 |
| 10 | Akaunting Free self-hosted accounting software with invoicing, expenses, and reports for freelancers. | specialized | 8.0/10 | 8.2/10 | 7.5/10 | 9.8/10 |
Tailored accounting for solopreneurs with mileage tracking, expense categorization, and seamless TurboTax integration.
Free cloud accounting software providing invoicing, expense tracking, and bank reconciliation for sole proprietors.
User-friendly invoicing, time tracking, and expense management designed for freelancers and sole proprietors.
Robust cloud accounting with bank feeds, unlimited invoicing, and tax-ready reports for small businesses.
Affordable online accounting with automation, client portals, and multi-currency support for sole proprietors.
Free starter accounting with smart invoicing, time tracking, and profitability insights for small operations.
Open-source invoicing and accounting tool with recurring billing, payments, and expense tracking.
Free desktop and cloud accounting software with unlimited users and multi-currency for sole proprietors.
Free open-source double-entry accounting for personal and small business financial management.
Free self-hosted accounting software with invoicing, expenses, and reports for freelancers.
QuickBooks Solopreneur
specializedTailored accounting for solopreneurs with mileage tracking, expense categorization, and seamless TurboTax integration.
AI-powered 'Tax Bucket' for real-time quarterly tax estimates and automated deduction tracking
QuickBooks Solopreneur is an AI-powered accounting app tailored for solopreneurs, freelancers, and sole proprietors, automating income and expense tracking from bank connections and receipt scans. It provides real-time tax estimates, deduction maximization tools, and simple invoicing to simplify bookkeeping and quarterly tax prep. With a mobile-first interface, it handles mileage tracking and profit insights, eliminating the need for spreadsheets or accountants for basic needs.
Pros
- Seamless AI automation for categorizing transactions and scanning receipts
- Real-time tax estimates and deduction finder to maximize savings
- Intuitive mobile app with effortless bank sync and mileage tracking
Cons
- Limited advanced features like payroll or inventory management
- Primarily US-focused with no international tax support
- No desktop version or multi-user collaboration
Best For
Perfect for solo freelancers and sole proprietors who need simple, automated bookkeeping without complexity.
Pricing
$20/month (billed annually at $17.50/mo) with a 30-day free trial; no long-term contracts.
Wave
specializedFree cloud accounting software providing invoicing, expense tracking, and bank reconciliation for sole proprietors.
100% free unlimited invoicing and accounting with no hidden subscription costs
Wave is a cloud-based accounting platform tailored for sole proprietors, freelancers, and small businesses, providing free tools for invoicing, expense tracking, receipt scanning, and basic bookkeeping. It supports unlimited invoices, customers, and transactions without any subscription fees for core features, while integrating bank account connections for automated reconciliation. Additional paid add-ons include payment processing and payroll services in select regions like the US and Canada.
Pros
- Completely free core accounting, invoicing, and expense tracking
- Intuitive interface with mobile app support
- Unlimited customers, invoices, and transactions
Cons
- Transaction fees for payment processing (2.9% + $0.30 per card)
- Limited advanced reporting and customization options
- Payroll and advanced features restricted to specific regions
Best For
Sole proprietors and freelancers needing simple, cost-free invoicing and basic bookkeeping without complex needs.
Pricing
Core features free forever; payments at 2.9% + $0.30 per credit card transaction; payroll from $20/month base + $6/employee (US/Canada only).
FreshBooks
specializedUser-friendly invoicing, time tracking, and expense management designed for freelancers and sole proprietors.
Proposals that seamlessly convert to invoices with built-in contracts and electronic signatures
FreshBooks is a cloud-based accounting platform tailored for freelancers, solopreneurs, and small service-based businesses, focusing on streamlined invoicing, time tracking, and expense management. It simplifies billing clients with customizable invoices, automated reminders, and online payments, while offering basic bookkeeping tools like bank reconciliation and profitability reports. Ideal for sole proprietors who need user-friendly tools without deep accounting complexity, it integrates with payment processors and apps for enhanced workflow.
Pros
- Intuitive interface perfect for non-accountants
- Powerful invoicing with automation and client portals
- Integrated time tracking and expense capture via mobile app
Cons
- Lacks advanced accounting like inventory or double-entry bookkeeping
- No built-in payroll (requires integrations)
- Pricing scales quickly with client volume
Best For
Service-based sole proprietors and freelancers who prioritize easy invoicing, time tracking, and client management over comprehensive accounting features.
Pricing
Lite ($19/mo, 5 clients), Plus ($33/mo, 50 clients), Premium ($60/mo, unlimited clients); annual billing discounts available.
Xero
specializedRobust cloud accounting with bank feeds, unlimited invoicing, and tax-ready reports for small businesses.
Seamless bank feeds that automatically import, categorize, and reconcile transactions from major banks worldwide
Xero is a cloud-based accounting software tailored for small businesses and sole proprietors, providing essential tools for invoicing, bill payments, expense tracking, bank reconciliation, and financial reporting. It excels in automating routine tasks like transaction matching and offers multi-currency support for global operations. With robust integrations and unlimited users, it's designed to scale as your business grows while maintaining compliance with tax requirements.
Pros
- Automatic bank feeds and reconciliation save significant time
- Unlimited users allow easy collaboration with accountants
- Over 1,000 app integrations for expanded functionality
Cons
- No free plan, starting at $15/month which may feel steep for basic sole prop needs
- Steeper learning curve for advanced features
- Payroll add-on not available in all countries and incurs extra costs
Best For
Sole proprietors who need scalable, automation-heavy accounting with strong bank integration and room to grow into a larger operation.
Pricing
Early ($15/mo), Growing ($42/mo), Established ($78/mo) billed annually; prices vary by country and exclude add-ons like payroll.
Zoho Books
specializedAffordable online accounting with automation, client portals, and multi-currency support for sole proprietors.
Client portal allowing customers to view invoices, accept quotes, and make payments self-service
Zoho Books is a cloud-based accounting platform tailored for small businesses and sole proprietors, providing tools for invoicing, expense tracking, bank reconciliation, financial reporting, and inventory management. It supports multi-currency transactions and integrates with the broader Zoho ecosystem as well as third-party apps like PayPal and Stripe. The software emphasizes automation, such as recurring invoices and approvals, making it scalable from basic needs to growing operations.
Pros
- Free plan available for businesses with under $50K annual revenue
- Intuitive mobile app for on-the-go expense and mileage tracking
- Robust automation features like recurring billing and bank feeds
Cons
- Free tier limits advanced features like project tracking
- Interface can feel cluttered for absolute beginners
- Customer support primarily email-based in lower plans
Best For
Sole proprietors and freelancers seeking affordable, feature-packed accounting with multi-currency support and easy scalability.
Pricing
Free for < $50K revenue; paid plans start at $20/org/month (billed annually as Standard), up to $70+/month for advanced tiers.
ZipBooks
specializedFree starter accounting with smart invoicing, time tracking, and profitability insights for small operations.
Project profitability tracking that shows time and expense breakdowns per client or project
ZipBooks is a user-friendly cloud-based accounting software tailored for small businesses and sole proprietors, providing invoicing, expense tracking, bank reconciliation, time tracking, and basic financial reporting. It stands out with its modern interface and professional invoice templates that automate payments and reminders. Ideal for solo operators, it offers a robust free plan covering essentials, with paid upgrades for advanced project management and profitability insights.
Pros
- Generous free plan with core invoicing and expense tracking
- Intuitive, modern interface that's quick to learn
- Beautiful, customizable invoices with automation
Cons
- Limited advanced reporting and analytics on free plan
- Fewer integrations compared to top competitors like QuickBooks
- Payroll and some premium features require costly add-ons
Best For
Budget-conscious sole proprietors and freelancers needing simple invoicing, time tracking, and basic bookkeeping without complexity.
Pricing
Free plan for basics; Smarter plan at $15/month; Sophisticated at $35/month; enterprise custom pricing.
Invoice Ninja
specializedOpen-source invoicing and accounting tool with recurring billing, payments, and expense tracking.
Open-source self-hosting for full data ownership and zero ongoing subscription costs
Invoice Ninja is an open-source invoicing and billing platform tailored for freelancers, sole proprietors, and small businesses to create professional invoices, quotes, and recurring bills. It supports client management, payment tracking, expense logging, and basic reporting, with options for both self-hosted and cloud-hosted deployments. While it excels in streamlined billing workflows, it offers limited full accounting capabilities like advanced bookkeeping or tax automation.
Pros
- Free self-hosted version with no client limits
- Highly customizable invoice templates and branding
- Seamless integrations with payment gateways like Stripe and PayPal
Cons
- Lacks robust accounting features like double-entry bookkeeping or bank reconciliation
- Self-hosting requires technical setup knowledge
- Reporting and analytics are basic compared to dedicated accounting software
Best For
Sole proprietors and freelancers focused on efficient invoicing and payment collection rather than comprehensive financial accounting.
Pricing
Free self-hosted option; cloud plans include Free (10 clients), Pro ($11/month unlimited clients), and Enterprise ($19/month with advanced features).
Manager.io
specializedFree desktop and cloud accounting software with unlimited users and multi-currency for sole proprietors.
Fully open-source and free with no limits on users, clients, or transactions
Manager.io is a free, open-source desktop accounting software ideal for sole proprietors, offering invoicing, expense tracking, bank reconciliation, financial reporting, and inventory management. It operates entirely offline on Windows, Mac, or Linux, ensuring data privacy and accessibility without internet dependency. Users can customize forms, reports, and workflows extensively, making it a flexible no-cost solution for basic to intermediate accounting needs.
Pros
- Completely free with unlimited transactions and no feature restrictions
- Offline desktop app provides excellent data security and reliability
- Highly customizable forms, reports, and multi-currency support
Cons
- Primarily desktop-based with no native mobile app
- Steeper learning curve for non-accountants due to extensive options
- Limited integrations with third-party apps like payment processors
Best For
Sole proprietors who want a robust, free, offline accounting tool without ongoing subscription costs.
Pricing
Free forever desktop version; optional Manager Cloud hosting from $15/month.
GnuCash
specializedFree open-source double-entry accounting for personal and small business financial management.
Strict double-entry accounting system that ensures balanced books automatically
GnuCash is a free, open-source desktop accounting software that uses double-entry bookkeeping to track personal finances, small business transactions, expenses, income, and investments. It supports multiple accounts, currencies, stocks, and generates customizable reports like balance sheets, income statements, and cash flow analyses. While powerful for core accounting needs, it lacks modern features like automated invoicing or cloud synchronization.
Pros
- Completely free and open-source with no subscription fees
- Accurate double-entry accounting prevents errors
- Customizable reports and support for multiple currencies/stocks
Cons
- Steep learning curve for beginners
- Outdated interface and no native cloud access
- Limited invoicing and customer management tools
Best For
Tech-savvy sole proprietors comfortable with double-entry bookkeeping who need a powerful, no-cost desktop solution for transaction tracking and reporting.
Pricing
Free (open-source, no paid tiers)
Akaunting
specializedFree self-hosted accounting software with invoicing, expenses, and reports for freelancers.
Fully open-source and self-hosted, giving users complete control over their data without vendor lock-in
Akaunting is a free, open-source accounting software tailored for small businesses, freelancers, and sole proprietors, offering invoicing, expense tracking, bank reconciliation, inventory management, and comprehensive financial reports. It supports multiple currencies, companies, and users, with a modular system for extensions via apps. Users can self-host it on their own server for full data control or opt for cloud hosting.
Pros
- Completely free with no usage limits or subscriptions
- Open-source and self-hosted for full data ownership and privacy
- Modular app ecosystem for easy customization and expansions
Cons
- Self-hosting requires technical knowledge like server setup
- Limited native integrations with third-party services
- Support relies on community forums rather than dedicated helpdesk
Best For
Tech-savvy sole proprietors seeking a powerful, customizable, and cost-free accounting solution without ongoing fees.
Pricing
100% free open-source core; optional paid apps ($10-$100 one-time) and cloud hosting from $12/month.
Conclusion
The reviewed tools provide varied options, with QuickBooks Solopreneur leading as the top choice, boasting tailored features and seamless TurboTax integration. Wave and FreshBooks excel as strong alternatives—Wave for its free, cloud-based simplicity and FreshBooks for its user-friendly design—each catering to distinct needs. Together, they ensure solopreneurs can find a solution that aligns with their unique workflow.
Ready to simplify your accounting? Start with QuickBooks Solopreneur to streamline tracking, invoicing, and financial organization.
Tools Reviewed
All tools were independently evaluated for this comparison