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Top 10 Best Accounting Software Tools For Freelancers To Manage Finances

Over the course of the past few years, with the proliferation of startups and freelancers, there has been a huge influx of many different accounting softwares. Though most of them are roughly the same in terms of its basic features and core components like invoicing, there are different software that may be suitable to your business, or your personal finances if you are a freelancer. Hence, it is important for you to be familiar with the differences between the different software that are available on the market. With the amount of information online, it may seem overwhelming. Hence, this article aims to provide you with a concise summary of the top 10 accounting software. With this information, you can choose the best software which will fit all your needs!

1. Xero

If you’ve ever searched up any accounting software on the market, chances are, you’ve probably heard of Xero. Helmed to be the most well-known cloud-based accounting platform out there, Xero has a huge user base and following. Xero’s users comprise mainly small and medium-sized businesses, with great attention focused on helping startups out there with their finances, so that they can shift their focus to leveraging and expanding their business.

What makes Xero so attractive? Well, they have a multitude of packages for all different sorts of businesses, and it’s almost impossible to find something that does not fit your needs. Furthermore, they have automation services to exchange and convert different currencies. However, there are also drawbacks to using Xero, such as limited features and their user interface not being very friendly for people who have just started using their system.

Estimated Price Point: Starts from just $33 per month

2. Intuit QuickBooks Online

Intuit provides an off-the-shelf software called QuickBooks which is extremely popular among small startups. If you have a small business and need a tool to do basic finances, like settling invoices, Quickbooks may be just right for you! It provides very basic services that are easy to use, especially if you have little experience when it comes to settling your account statements and finances.

What’s more, they even provide you with professional support, such as an online community forum, as well as a deskline contact. So, if you have any particular questions, you can easily get the help you need! However, for larger businesses who require more complex features and functionality, QuickBooks may not be the best option for you.

Estimated Price Point: $199.99 per year

3. Zoho Books

Another popular platform would be Zoho Books, by Zoho Corporation, which is also part of their Zoho One Suite package. Zoho Books caters to all businesses, be it small, medium or large.

Zoho Books unique selling point would definitely be its third-party integrations that it provides which is rarely seen on other platforms. Some third-party partners include Paypal, Dropbox and OneDrive which is extremely useful and convenient for businesses who also use these platforms.

Estimated Price Point: Free for businesses with less than $50,000 turnover per year. The standard package is priced at $10 per month for each company.

4. Freshbooks

Freshbooks is one of Singapore’s most popular accounting software that caters to freelancers as well as a wide array of businesses. Its main appeal lies in its user interface system, which is known to be very easy to navigate and use. Freshbooks simple and uncomplicated invoice system that is not only very professional but also can be deployed on the cloud also makes it a top choice for many businesses. Its limitations, however, lie in its requirement for manual data entry for its invoice templates. Unlike other platforms, they also don’t support multi-currencies.

Estimated Price Point: They provide free trials. The Lite plan begins at $139.50 with a maximum of five clients. The Plus plan begins at $232.50 per year with up to 50 clients.

5. Sage

Sage has two different solution platforms for different business organisation scales. Sage UBS caters mainly to small businesses, while Sage 300 is geared towards medium enterprises. This allows for extremely tailored features based on the size of your business. They have useful solutions especially for payroll, payment and integrated accounting systems. Hence if your business requires high-quality solutions for these systems, Sage is definitely the way to go. The drawbacks of Sage include their set-up process which can be tedious and may require their staff to assist in this process.

Estimated Price Point: The Accounting’s Business Cloud Accounting starts at $12 per month

6. Netsuite

Netsuite is a product that was created by Oracle and provides solutions for individuals and organisations to help them solve their finance and accounting needs. They provide live access to financial data and can make instant changes and resolutions to any issues. Not only that, but they are able to generate statements that are in compliance with requirements like IFRS and more. However, the costs of using Netsuite can put off many small businesses that do not have the budget. As Netsuite is subscription-based, these costs can further add up in the long run.

Estimated Price Point: Base license is priced at $999 per month, while access costs are $99 per user, per month.

7. Smart Cursors

Smart Cursors’ main selling point would be their novel cash flow management system, by which deposit, transfers and withdrawals, bank reconciliations are all managed. Its interactive elements can also showcase how these amounts were created and utilised, all in one page. They also have an ‘Invoice Now’ feature which sends out and also receives e-invoices. 

Estimated Price Point: Pay as you use.


ABSS Accounting is another software that caters to those without much experience in accounting. They provide basic features such as tracking payables, GST and receivables, as well as processing sales and purchases. An added useful integration would be the ability to connect with your DBS account.

Estimated Price Points: Basic package starts at $424 SGD per user, which includes free installation, database setup and support for 30 days.

9. Highnix

Highnix prioritises productivity and security, and hence their software caters towards these features. Their accounting system has an X.509 encryption, and they also allow third-party integrations with their ERP system with the proper APIs. This is useful for individuals or businesses that are scaling in size quickly and require a system to fit their expanding needs.

Estimated Price Points: SaaS License starts at $90 every month. Inventory management starts at $120 every month. They both allow for a 6-month subscription waiver. 

10. Wave

Another up and coming software platform is Wave which is free! They provide basic features such as invoicing, accounting, and receipt scanning. They also allow connection to bank accounts though some say it may be a bit of a hassle to set up.

Estimated Price Points: Free

With that, we’ve come to the end of our list of the 10 best accounting software for freelancers! If you’re a freelancer who’s just starting out, or thinking of scaling up your business, you’ll definitely be able to find an accounting software that suits your needs from this list. So, know that you know of the different options available out there, it’s time to decide which one you prefer! 

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