Best Invoicing Software for Freelancers in the US

Managing your finances efficiently as a freelancer is crucial. Invoicing is not just a routine administrative task; it ensures that you receive timely payments from clients and maintain a steady stream of income to pay your bills.

In this article, we look at the best invoicing software for freelancers in the US, to help you find the right option for your needs.

Save time on manual admin:
Sync invoicing software
with Wise Business

Best Invoicing Software for Freelancers: Top Options

📝 Quick overview:
QuickBooks Self-Employed FreshBooks Wave Zoho Invoice Xero OnlineInvoices

QuickBooks Self-Employed

Accounting software provider QuickBooks offers aversion for self-employed workers designed to help freelancers and other self-employed workers track their income and expenses. Bundled with Intuit TurboTax Self-Employed, it can also help with filing tax returns.

QuickBooks Self-Employed is a popular choice for freelancers and contractors who don’t have separate business and personal bank accounts. You may find it less useful if you have separate business checking or credit card accounts, in which case QuickBooks Online may be the better choice.

QuickBooks offers web-based and mobile versions of the software. The user-friendly app makes it simple to mark transactions as either business or personal with a swipe and categorize them to meet IRS filing requirements.

You can create, send and track invoices, although there is limited scope for customization and no support for tracking estimates. In addition to simple invoicing, the software allows you to connect your checking, credit and other accounts to see and organize all your income and expenses in one place.

QuickBooks Self-Employed costs $20 per month, $30 when bundled with Intuit TurboTax Self-Employed and $40 bundled with Intuit TurboTax Live Self-Employed, which gives you access to a real CPA when you need.¹

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Track Bills Automatically with QuickBooks and Wise

If you have international bills to pay, not only can you pay them at the mid-market rate with Wise, but now you can also sync Wise with QuickBooks Online.

• You can see your unpaid bills in real time and pay them seamlessly from your ‘Bills’ page on Wise.
• Your bill payments and any other Wise transactions will be synced, matched and categorized in QuickBooks for simple reconciliation.
• Once connected, all bills you create in QuickBooks Online will automatically sync in real time to Wise, where you can choose which ones to pay.
• All bill payments you make with Wise will be matched to the original bill in QuickBooks. They'll also be categorized into the right accounts. If no bill is found, each payment will simply be added as an Expense.

See for yourself how much time and hassle you can save.

Connect QuickBooks and Wise:
Save time on reconciliation

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FreshBooks

FreshBooks is widely used among freelancers as it offers some of the best invoicing tools. The app’s user-friendly interface allows you to create and customize invoices in seconds and send them to clients directly from the dashboard. It also allows you to send clients reminders if their invoice is overdue, set recurring invoices and charge late fees. For convenience, you can accept payments online through the FreshBooks portal.

FreshBooks offers several features that streamline invoicing for freelancers, including the option to request a deposit payment on an invoice, time-tracking capabilities, and an option to add expenses to invoices. Freelancers who work on retainer can generate retainer summaries and monitor the time they spend on retainer projects.

FreshBooks is not just an invoicing app – the software also includes accounting, expense management, time tracking, project management, payments and reports.

Pricing for FreshBooks ranges from $17 per month for its Lite subscription plan to $55 for its Premium plan. Note that retainers and recurring bills are not available on the Lite plan.²

💡 You can also connect FreshBooks with Wise Business to sync transactions and save time on admin. This is a great feature for businesses with international transactions.

Wave

Wave provides free cloud-based invoicing and accounting software, making it a great option for budget-conscious freelancers.

Wave Invoicing allows you to create personalized invoices, send clients payment reminders, and set up recurring invoices and automatic debit and credit card payments. The mobile app allows you to create and process invoices directly from your phone.

Wave Invoicing automatically calculates sales tax and syncs all invoicing and payment information with the Wave Accounting software included with your account. Wave also offers options to pay $8 per month for mobile receipts and $149 monthly for bookkeeping support.³

💡 You can also connect Wave with a Wise Business account to sync transactions in multiple currencies and save time on admin. This is a great feature for businesses dealing with international transactions.

Zoho Invoice

Zoho offers a suite of products for freelancers and small businesses, including Zoho Invoice, Zoho Billing and Zoho Inventory. The free invoicing tool is well-suited to freelancers on a budget. It offers 10+ customizable templates, allowing you to personalize invoices to reflect your branding. You can send recurring invoices, set time tracking to record billable hours, accept online payments through payment integrations and provide a customer self-service portal.

You can also send customizable reminders and send clients personalized thank you messages for prompt payments.

The software allows you to scan receipts and track expenses, manage projects, and gain business insights from its reporting tools.

The Zoho Invoice mobile app allows you to send and manage invoices on the move.⁴

If you have more complex billing needs, Zoho’s billing solution costs $20 per month for its standard subscription plan.⁵

Xero

Xero is a small business accounting platform that provides advanced features and integration possibilities for freelancers with more complex invoicing needs.

Xero’s intuitive invoicing software offers a range of features from your desktop or mobile app. You can customize online invoices, add standard messages or insert more fields, and add a ‘Pay now’ button to make it easy for clients to pay online via third-party payment services. You can turn accepted quotes into invoices, set up recurring invoices and automatic reminders, and see the payment status of invoices in Xero. Options to copy or create multiple templates from invoices and bulk import invoices from elsewhere also help save time on invoice management.

In addition to the invoicing tools, you can connect your bank account to quickly reconcile transactions, schedule bill payments, and store documents securely on a single platform. You can capture bills and receipts with Hubdoc, which extracts key information and sends it to Xero.

Real-time cash flow insights help you to easily monitor your business performance, saving time on dealing with manual tasks and spreadsheets.

Xero also offers hundreds of integrations with other apps for the self-employed in the Xero App Store.

Xero’s monthly subscription pricing starts at $15 for its Early plan. This limits you to sending 20 invoices per month, so if you need more you’ll have to upgrade to the $42 Growing plan or the $75 Established plan. Only the Established plan includes support for multiple currencies, so Xero may not be the most cost-effective option if you have clients abroad.⁶

You can also sync Wise and Xero easily, saving you time on manual entry.

OnlineInvoices

OnlineInvoices offers affordable accounting software with comprehensive invoicing tools, with the flexibility to activate or deactivate features to match your business needs. Features include customizable invoice layout and email templates, a dedicated client portal with online payment using multiple methods, and the ability to convert estimates to invoices including items, pricing and tax details.

You can add discounts, shipping, and invoice terms and conditions, and attach the necessary documents. You can also customize your own invoice statuses list to identify, track and filter invoices.

Automatic SMS or email reminders prompt clients to pay invoices when they’re due and allow you to track email notifications and delivery. You can set invoices to recur on specific dates or intervals, and easily refund clients by editing the invoiced items and selecting your refund payment method.

OnlineInvoices offers four monthly subscription tiers:

• Small: $6.50, supports 15 clients and invoices per month with two invoice layouts
• Silver: $9.95, supports 300 clients and invoices per month with 12 invoice layouts
• Gold: $19.95, supports 2,500 clients per month and 1,000 invoices with 30 invoice layouts
• Platnium: $39.95, supports unlimited clients, invoices, and invoice layouts.

At the time of writing, you can also save up to 30% if you opt for annual billing.⁷

🔍 Read on for more:
How to Select the Right Invoicing Software Benefits of Invoicing Software for Freelancers Key Features to Look for Conclusion: What’s the Best Invoicing Software for Freelancers?

How to Select the Right Invoicing Software for Your Freelance Business

The best invoicing software for you will depend on the nature of your freelance work and how many clients you have.

Assessing Your Freelance Needs

When choosing an option, it’s important to assess your individual requirements. Consider the frequency of your projects, how many invoices you typically issue in a month, and the complexity of your billing processes.

Do you primarily offer services with fixed rates, or do you need time tracking to bill hourly rates? Do you need detailed expense tracking and reports, or is a basic invoicing process your top priority?

Comparing Features and Pricing

Make sure to compare the different features and pricing options for each provider you’re considering.

Waves and Zoho Invoice provide free software, making them ideal for freelancers on a budget, such as those just getting started or pursuing side hustles.

Freelancers working on retainer may prefer FreshBooks, although its retainer and recurring billing features are not available on its most basic plan. If you’re looking for more advanced accounting features with complex invoicing requirements, Xero may be a better option.

If you need flexibility, OnlineInvoices offers affordable accounting software with the flexibility to customize features to match your business needs.

Reading User Reviews and Seeking Recommendations

When comparing providers, it’s also important to research user reviews and seek feedback from fellow freelancers.

Understanding how these tools perform in the real world and potential challenges that may not be apparent from the providers’ websites can help you decide which may work the best for you.

Benefits of Invoicing Software for Freelancers

The best invoicing and accounting software for freelancers offers several benefits, including:

• Saving time over creating and managing invoices manually
• Creating a more professional business presence using pre-designed and polished templates
• Financial organization from centrally tracking income and expenses
• Faster payments without having to chase clients, thanks to payment reminders and self-service portals
• Streamlined accounting processes
• Easier tax filing, particularly with software platforms that integrate tax management features

Key Features to Look for in Freelance Invoicing Software

Depending on your type of freelance work, some of the features you may want to look for include:

• Customizable templates so that you can tailor invoices to include essential details and terms that are specific to your work
• Automated payment reminders and recurring billing so that clients are more likely to pay on time
• Time tracking, making it easier to bill clients for hourly work
• Comprehensive tracking of project-related expenses
• Integration with accounting software and other third-party tools
• Support for multiple currencies if you work with clients in other countries

Mobile Accessibility

Choosing an invoicing software provider that has a mobile app is important for freelancers who work on the move. Some providers allow you to create and send invoices directly from a mobile device, so that you can stay connected to your clients and finances while away from your desk.

Conclusion: What’s the Best Invoicing Software for Freelancers?

Efficient invoicing is essential to managing your finances as a freelancer. The best free invoicing software for freelancers can help you to automate the creation and sending of invoices to your clients, and automatic payment reminders can reduce the number of late payments.

Some invoicing features are integrated into comprehensive accounting packages, allowing you to track your income and expenses to save time when it comes to filing taxes.

Selecting the right invoicing software to manage your finances effectively is key, so that you have the features you need at an affordable price.

One point to consider with all these options is whether your business needs to create and manage international invoices.

A Wise Business account can save you time and money when creating and paying international invoices.

Using the Wise Business invoice generator, you can create and send unlimited invoices to international clients, without paying anything in monthly fees.

Receive & manage invoice payments
with Wise Business

Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. Wise’s business account enables you to hold up to 40+ currencies and easily convert between them. You can also access up to 9 local account details, meaning you’ll receive invoice payments like a local.

Your Wise transactions can also be synced with Wave, FreshBooks, QuickBooks, or Xero easily, saving you time on manual entry.

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Sources:

¹ QuickBooks self-employed pricing

² FreshBooks Pricing, Lite, Plus and Premium Packages

³ Wave Pricing

⁴ Pricing? It's Free! | Zoho Invoice

⁵ Zoho billing

⁶ Pricing Plans | Xero US

⁷ Sales Features Page - Online Invoices

All sources checked December 1, 2023.