Being self-employed comes with a lot of freedom—but it also comes with responsibilities. One of the biggest challenges freelancers, independent contractors, and solo business owners face is managing their finances effectively. You’re not just doing the work you love—you’re also your own accountant, bookkeeper, and tax preparer.

At Shammas Tax, we work with many self-employed professionals who feel overwhelmed by the financial side of their business. That’s why having the right accounting tools can make a huge difference. The right software doesn’t just help you keep track of income and expenses—it saves time, reduces stress, and helps you stay ready for tax season.

If you’re self-employed and looking for tools that make your life easier, here are some of the best accounting platforms and apps to consider in 2025.

QuickBooks Online

QuickBooks has been a go-to for small business accounting for years—and for good reason. QuickBooks Online is cloud-based, which means you can access your records from anywhere. It connects to your bank and credit card accounts, automatically imports transactions, and helps you categorize expenses with ease.

One of the most helpful features for self-employed professionals is the ability to separate personal and business expenses. You can also track mileage, send invoices, and generate profit and loss reports, which come in handy at tax time. QuickBooks also has built-in tax estimation features, which help you set aside enough for quarterly taxes.

While there’s a bit of a learning curve, QuickBooks offers great tutorials, and many tax professionals—including Shammas Tax—can sync with your account to assist you during filing.

FreshBooks

FreshBooks is another popular accounting platform tailored specifically to small business owners and freelancers. It’s easy to use, intuitive, and offers a clean design that makes tracking money feel less intimidating.

You can use FreshBooks to create and send professional-looking invoices, track your time, manage expenses, and collect payments online. It even offers automatic late payment reminders, which is a lifesaver if clients don’t always pay on time.

FreshBooks is particularly good for service-based professionals—like designers, consultants, and coaches—who bill clients for time and need a streamlined invoicing process.

Wave

If you’re just getting started or operating on a tight budget, Wave is a great free option. That’s right—free. Wave offers many features you’d expect from a paid platform, including income and expense tracking, invoicing, receipt scanning, and even some basic reporting tools.

Wave also allows you to connect bank accounts and credit cards, making it easier to reconcile your transactions. You can upgrade for payment processing or payroll if needed, but for basic accounting, it’s a great value.

Just keep in mind that Wave is better for sole proprietors or very small businesses. If you plan to scale or hire employees, you might eventually need something more advanced.

Xero

Xero is another strong cloud-based accounting platform that’s gaining popularity among freelancers and small business owners. It’s known for its sleek interface, bank reconciliation tools, and solid reporting capabilities.

Xero integrates with over 1,000 third-party apps, making it ideal if you use other business tools for e-commerce, inventory, or customer relationship management. It also allows for unlimited users, which is helpful if you work with a bookkeeper or plan to expand your team.

One unique feature is Xero’s “business snapshot,” which gives you a real-time view of your income, expenses, and cash flow—perfect for staying on top of your finances all year long.

HoneyBook

While HoneyBook isn’t a full-fledged accounting program, it’s a client management platform that includes important financial features. It’s designed for creatives and service professionals who want to manage inquiries, proposals, contracts, and payments in one place.

HoneyBook helps you track income, send invoices, collect deposits, and even automate parts of your client communication. It’s ideal for photographers, event planners, and coaches who want to keep their projects and money organized.

If you already have an accounting program, HoneyBook can integrate with it or export data to help with tax preparation.

Bench

If you don’t want to handle bookkeeping at all, Bench might be for you. Bench combines software with a human bookkeeper who categorizes your transactions and prepares monthly financial reports.

It’s not a do-it-yourself tool—it’s more of a done-for-you service. You’ll still need to handle your taxes (or work with a tax pro), but Bench gives you clean, organized books that make filing a whole lot easier.

For busy professionals who prefer to outsource this part of the business, Bench can be a smart investment.

What to Look For in an Accounting Tool

Choosing the right tool depends on your needs and how involved you want to be in your bookkeeping. Here are some things to consider:

• Ease of Use: If a platform is too complicated, you won’t use it. Look for one with a clean interface and solid support resources.
  
• Integration: Make sure the tool works with your bank, payment processors, and other tools you already use.
  
• Features: Do you need invoicing? Mileage tracking? Payroll? Make a list of must-haves before you choose.
  
• Cost: Most platforms offer free trials. Try before you buy, and don’t pay for features you won’t use.
  
• Customer Support: Look for tools that offer live chat, email, or phone support in case you get stuck.
  

Final Thoughts

Being self-employed means you wear a lot of hats—but accounting doesn’t have to be the one that causes you the most stress. The right tools can give you more control over your money, save you time, and keep you organized year-round.

Whether you’re just starting your self-employment journey or looking to streamline your finances in 2025, these accounting tools can help. And if you ever need help sorting through your options or preparing for tax season, Shammas Tax is here to guide you. Let’s make managing your money easier than ever this year.