Top 10 Best Sole Trader Accounting Software of 2026

QuickBooks Solopreneur is a simplified accounting platform designed specifically for freelancers, sole traders, and solo entrepreneurs, offering automated expense tracking, invoicing, and tax estimation. It connects directly to bank accounts for real-time transaction categorization using AI, generates professional invoices, and provides quarterly tax projections to simplify compliance. The mobile app and intuitive dashboard make it easy to manage finances without accounting expertise, focusing on the essentials for single-person businesses.

Wave is a cloud-based accounting software tailored for sole traders and small businesses, providing free tools for invoicing, expense tracking, receipt scanning, and basic financial reporting. It automates bank reconciliations and offers unlimited invoicing and customers without any subscription fees for core features. Users can also access paid add-ons like payment processing and payroll for more comprehensive financial management.

FreshBooks is a user-friendly cloud-based invoicing and accounting software tailored for freelancers, sole traders, and small service-based businesses. It streamlines invoicing, expense tracking, time tracking, and basic financial reporting without requiring deep accounting knowledge. While it handles cash-basis bookkeeping effectively, it lacks advanced features like double-entry accounting or inventory management found in more comprehensive tools.

Xero is a cloud-based accounting software tailored for small businesses and sole traders, providing essential tools for invoicing, bank reconciliation, expense tracking, and financial reporting. It automates bank feeds for real-time transaction matching and supports GST/VAT compliance, payroll, and multi-currency transactions. With a user-friendly interface and extensive app integrations, it's ideal for managing finances on the go via mobile app.

Zoho Books is a cloud-based accounting platform tailored for small businesses and sole traders, providing essential tools like invoicing, expense tracking, bank reconciliation, and GST/VAT compliance. It offers automation for recurring bills and invoices, multi-currency support, and customizable reports to simplify financial management. With seamless integrations to Zoho's ecosystem and third-party apps, it scales well from basic sole trader needs to growing operations.

FreeAgent is a cloud-based accounting platform tailored for UK freelancers, sole traders, and small businesses, offering automated invoicing, expense tracking, and bank reconciliation. It excels in HMRC compliance with features like VAT returns, Self Assessment preparation, and real-time tax forecasting. The software provides project tracking, time logging, and customizable reporting to help sole traders manage finances efficiently.

ZipBooks is a cloud-based accounting platform tailored for small businesses, freelancers, and sole traders, offering streamlined invoicing, expense tracking, time tracking, and basic bookkeeping tools. It automates billing, payment collection, and profitability reporting to simplify financial management. Ideal for users seeking an intuitive alternative to more complex software like QuickBooks.

Manager.io is a free, open-source accounting software designed for small businesses and sole traders, providing tools for invoicing, expense tracking, bank reconciliation, inventory management, and financial reporting. It offers both a desktop version for offline use and an optional cloud-hosted edition, with full data ownership and no transaction limits. The software emphasizes customization, allowing users to tailor forms, reports, emails, and workflows to their specific needs without ongoing subscription costs for the core version.

Invoice Ninja is an open-source invoicing platform designed for freelancers and small businesses, enabling sole traders to create and send professional invoices, quotes, track expenses, and manage payments seamlessly. It supports time tracking, project management, recurring billing, and client portals, with options for both self-hosted deployment and cloud hosting. While strong in billing workflows, it provides basic accounting tools rather than full double-entry bookkeeping.

GnuCash is a free, open-source desktop accounting software that uses a double-entry bookkeeping system to manage personal and small business finances, including tracking income, expenses, assets, and liabilities. It supports invoicing, budgeting, scheduled transactions, and generates detailed financial reports across multiple currencies. Ideal for users seeking robust, offline accounting without subscription fees, it's available on Windows, macOS, and Linux.