What Is The Best Accounting Software For Freelancers In 2019?

After reviewing 40 similar products, we found that Wave Financial is the perfect choice. What makes this product exceptional is that it is specifically developed for freelancers. The accounting sofware tool should not be overly complicated whereby a 6 months learning curve is needed to master. The primary features that the user expects are income, expense, receipt, and invoice tracking. Free Features Of The Wave Freelance Accounting Software Pricing: For self-employed, entrepreneurs, small businesses and freelancers, limiting the spending of unnecessary money should be one of our goals. The good news is that Wave is not only affordable, but it is also free for both their desktop and mobile versions!

Invoicing and estimates: can be managed in any currency and can have a professional look by creating a template and inserting your company logo. Receive payments directly from click-to pay email invoicing. Set up automatic reminders and recurring invoicing.

Connect your bank account and credit card to the software: we suggest that you open up a business account at your bank. It will be easier to see what is coming in and what is going out. Your bank transactions will be synced automatically with the software. There is no limit on the number of transactions entered into their online cloud-based system. No user limit and multiple businesses can be managed under one account. Your data is safe and always backed up.

CInventory: If you have boxes of physical products that you are selling, you will need to track your inventory. Wave does not charge extra for the inventory tracking feature. Receipt Scanning: can be treated as accounts receivable or accounting transactions in the system. Paid Features To Better Manage Your Self-employed Finances Of course, the company needs to make money somehow. They have many upgrades for which they charge a fee.

What Makes Wave The Best Accounting Software For Freeelancers

Online Payments: accept credit cards, debit cards, PayPal, eChecks through ACH processing. They do charge for credit card processing. Their rates are competitive at 2.9% + 30 cents per transaction. ACH Bank payments are at 1% per transaction ($1 minimum fee). Coaching: If you want to learn bookkeeping, they charge a one-time fee of $249 for a 2-hour session with an expert who will teach you step-by-step on how to manage the bookkeeping portion of your business. Outsourced Bookkeeping: If you do not want to go through the hassle of learning bookkeeping, for $149 per month, the company will do your bookkeeping and financial statements on your behalf. Payroll: for Canada and the United States, they charge $20 to $35 per month and $4 additional per contractor or employee.

Our Wave Accounting Review Rating

We rate this product a 5-star. The software is user-friendly and has a welcoming front-end interface. It is easy to use from day one. There are no trials, no catches, and no subscription. The biggest difference that exists between this product and others is that it was made for freelancers, entrepreneurs, and very small businesses. This what we call a niche market. We do not need anything super complicated. On June 11, 2019, H&R Block agreed to acquire Wave for the sum of 537 million Canadian dollars. We suspect that H&R Block may push to integrate their tax preparation software into Wave’s suite of products which would be a major plus. Kirk Simpson the co-founder and CEO of Wave previously said that: “our product will remain free forever” Let’s hope that H&R Block does not cancel the free version! And, we hope that Wave will remain the best accounting software for freelancers. To learn more about this product, visit Wave Financial.