Best 7 Accounting Software for Freelancers in India (2025)

When you’re juggling clients across time zones, managing your finances can quickly turn chaotic, managing finances can feel like a nightmare. Invoices pile up, payments get delayed, receipts go missing, and tax season adds another layer of stress. If you’re still relying on traditional spreadsheets, you could be spending hours every week on work that could be automated.

Accounting software for freelancers changes that experience. It makes accounting simpler and faster, taking unnecessary burden off your plate. But what are the most promising tools out there, and what features should you even look for? We’ll answer these and more in this article.

Freelancers don’t need heavy software made for big businesses. They need something simple that saves time, keeps their work in order, and makes handling money easier. A good accounting tool should have:

• Easy invoicing to create and send bills quickly.
• Clear payment tracking.
• Tax support for GST, TDS, and yearly filings.
• Beginner-friendly design.
• Digital record-keeping.
• Extra features like time tracking or project organisation.
• Pricing that fits your budget.

Freelancers in India have many accounting tools to pick from. Some of the top options include Zoho Books, QuickBooks, FreshBooks, Wave, Bonsai, Tally, and Vyapar.

1. Zoho Books

Zoho Books works well for freelancers and small businesses that want a tool they won’t outgrow quickly. It helps you create and manage invoices as well as handle bank transactions. You can begin with a basic plan and upgrade to higher tiers as your work increases.

Key features:

• Create quotes and turn them into invoices in one click.
• Receive online payments.
• Manage projects with timesheets.
• Handle taxes easily with built-in support for local rules.

Pricing: 

• Free: Free of cost
• Standard: Rs. 749/month (billed annually) and Rs. 899/month (billed monthly)
• Professional: Rs. 1,499/month (billed annually) and Rs. 1,799/month (billed monthly)
• Premium: Rs. 2,999/month (billed annually) and Rs. 3,599/month (billed monthly)
• Elite: Rs. 4,999/month (billed annually) and Rs. 5,999/month (billed monthly)

2. QuickBooks Solopreneur

QuickBooks Solopreneur helps you manage your finances and taxes in one place. It gives you a clear view of your income, expenses, and yearly deductions. The tool also gives you access to experts who can guide you with tax filing.

Key features:

• Year-round updates on income, spending, and profit.
• Automatic separation of personal and business expenses.
• Clear view of possible tax deductions throughout the year.
• Easy access from any device.

Pricing:

• QuickBooks Solopreneur: $6/month
• QuickBooks Simple Start: $11.40/month

3. FreshBooks

FreshBooks has a simple layout, which means you don’t need accounting expertise to use it. You can use it for invoicing, tracking time, and working with clients.

Key features:

• Create clear invoices and automate tax calculations.
• Accept online payments.
• Track time, estimates, and client activity in one dashboard.
• Schedule recurring invoices and send automatic payment reminders.

Pricing:

• Lite: $192.78/year
• Plus: $348.84/year

4. Wave

Wave is a simple and reliable pick if you’re just getting started with freelancing and want basic accounting tools without paying a monthly fee. The free plan has invoicing, expense tracking, and the essential reports. Plus, you can get to your data anytime since it is completely cloud-based.

Key features:

• Free invoicing and basic accounting with no limits.
• Clean dashboard to track income, expenses, and cash flow.
• Simple financial reports.
• Strong security with encrypted connections and protected servers.

Pricing:

• Starter plan: $0
• Pro plan: $190/year

5. Bonsai

Bonsai is a premium all-in-one tool that brings everything under one roof - contracts, proposals, projects, and invoicing. It has a simple design but offers limited payment options for Indian users.

Key features:

• Manage proposals, contracts, and client projects in one place.
• Track time and convert hours into invoices.
• Built-in tools for expenses and basic financial reports.
• Accept payments through PayPal (Stripe is not supported in India).

Pricing:

• Basic: $9/user/month (billed annually) or $15/user/month (billed monthly)
• Essentials: $19/user/month (billed annually) or $25/user/month (billed monthly)
• Premium: $29/user/month (billed annually) or $39/user/month (billed monthly)
• Elite: $49/user/month (billed annually) or $59/user/month (billed monthly)

6. Tally

Tally covers most day-to-day accounting needs in one place. You can use it to:

• Create invoices and ledgers
• Print cheques
• Get quick reports
• Reconcile bank statements
• Review your profit numbers

Key features:

• GST-compliant invoices, e-invoices, and e-way bills.
• Record transactions in foreign currencies.
• Add QR codes or payment links directly to invoices.
• Track and manage payments with flexibility.

Pricing:

• 1 month: Rs. 750 + 18% GST
• 3 months: Rs. 2,138 + 18% GST
• 12 months: Rs. 8,100 + 18% GST 
• Lifetime: Rs. 22,500 + 18% GST

7. Vyapar

Vyapar is a popular accounting tool made for small businesses in India. It helps you handle GST invoices, daily accounts, inventory, and payments from a single app. You can use it on mobile or desktop and even work offline.

Key features:

• Create and customise GST-ready invoices.
• P&L, balance sheets, and cash flow reports.
• Double-entry accounting for accurate books.
• Record payments, dues, and alerts.

Pricing:

• Silver: Rs. 3,999 for 1 year or Rs. 8,699 for 3 years
• Gold: Rs. 4,299 for 1 year or Rs. 8,999 for 3 years

To select the best accounting tool for freelancers, look for features like design control. recurring invoices, multi-currency billing, flexible invoice fields, and payment links.

1. Design control: The tool should let you change the layout, colors, and add your logo. This ensures your invoices match your brand.

2. Recurring invoices: If you bill weekly or monthly, this feature saves time by sending those invoices automatically after you set them up once.

3. Multi-currency billing: For international clients, the software should handle different currencies. This avoids confusion and payment delays.

4. Flexible invoice fields: You should be able to include taxes, discounts, notes, or any details your client may need.

5. Simple payment links: See if the tool lets you send a link or QR code, so clients can pay you instantly using cards, bank transfers, or even UPI.

Expense tracking is a key part of managing your money as a freelancer. Basically, it’s about keeping tabs on every software subscription, piece of equipment, or other costs that rack up over time. But when it comes to accounting software, you need a system that goes beyond simple lists.

A good expense tool should let you:

• Attach receipts or bills to store everything in one place.
• Add notes or details.
• Sort expenses by category for easy tracking.

This helps you understand where your money is going. It also makes filing ITR a lot simpler since all the proof you need is already organised.

If you work with clients outside India, multi-currency support is non-negotiable. It saves you from manually converting payments and keeps your books accurate. The right accounting software should handle different currencies on its own and update values based on current exchange rates.

Look for tools that can:

• Convert payments automatically when money comes in.
• Show the value in both the client’s currency and INR.
• Support international transfers through SWIFT.
• Connect with payment platforms like Xflow, Payoneer, Razorpay, etc.

Reconciling international payments can become confusing when you receive payments from different countries and in different currencies. Add multiple payment platforms to the mix, and you would be left scratching your head. This is why you need software that connects directly with global payment gateways. This ensures every transaction is recorded in your books without extra steps.

Plus, a good accounting tool should also support bank sync so your bank transactions appear automatically. This helps match payments with invoices and keep your books accurate.

Look for tools that can:

• Match incoming payments to the right invoices.
• Categorise each transaction based on your accounting rules.
• Reconcile amounts in different currencies.
• Provide audit trails for every payment.
• Generate CA reports for tax filing.

To select the right accounting tool, you first need to understand what you actually need as a freelancer. You see, every freelancer works differently. As such, the software you pick should support the way you manage money. Here are three things to consider:

1. Your bookkeeping needs

Do you mainly create invoices? Or do you also track expenses, taxes, and payouts? Make a simple list of the tasks you handle each month.

2. Must-have features

Look for basics like invoicing, expense tracking, and clear financial reports. These keep you organised and help with taxes.

3. Ease of use and future needs

The tool should be simple to use and work on mobile if you travel or work remotely. It should also support your growth if your work expands later.

The biggest accounting mistake freelancers make is mixing personal and business money. Other common mistakes include not using a multi-currency account, ignoring transfer speeds, and sending invoices late.

1. Mixing personal and business money

Using one account for everything feels easy. But it can lead to a lot of confusion when filing taxes. A separate business account keeps things clear and saves hours of sorting later.

2. Not using a multi-currency account

If you get paid in different currencies but only receive money in one, you lose money to auto-conversions and weak exchange rates. A multi-currency account gives you more control over when and how you convert your earnings.

3. Ignoring transfer speeds

Every platform moves money at a different pace. Some can take several days, which can leave you waiting when paying bills or handling expenses. If you don’t check transfer times, you may face delays later.

4. Sending invoices late

Many freelancers miss sending invoices on time or skip key details. This often leads to confusion and delays in getting paid.

Choosing the right accounting software can make your work a lot simpler. It lets you track income, manage expenses, and take care of taxes without drowning in invoices every week.

If you’re working with international clients, platforms like Xflow make receiving foreign currency payments simple and secure. It:

• Issues an FIRC in 24 hours
• Offers transparent pricing
• Facilitates local bank transfers
• Comes with invoice-friendly features
• Is ISO 27001 and SOC 2 certified

Sign up today.