The 10 Best Home Accounting Software Apps 2024

• Proposals: Use Freshbooks to create in-depth proposals and track your progress through projects.
• Time tracking: Log time spent on individual projects and clients for more accurate billing.
• Mileage tracking: Record travel times from the mobile app to claim tax deductions.

FreshBooks has three plans for different use cases: freelancers, self-employed professionals, and small businesses. Here’s a look at its fixed monthly and annual rates:

• Lite: A basic range of invoicing and expense tracking tools, all unlimited.
• Plus: Everything in Lite plus invoice automation and reporting tools.
• Premium: No limits on clients, more payment options, and the automatic receipt capture tool.

The pricing plans are generally flexible, with opportunities to save costs. FreshBooks lets you add advanced payments for $20 per month instead of including it in the price. There are often generous offers and discounts which allow up to 70% off plans for a limited period.

Freshbooks has client management tools but no inventory support, so it’s best for service providers. Its competitive pricing makes it affordable for most professionals working from home.

• Customer portal: Allow clients and customers to log into the platform even from the free plan.
• Multi-lingual invoicing: Invoice in different languages for clients abroad.
• Currency support: Invoice, make payments, and automatically adjust rates in several currencies.

With its range of plans, Zoho Books caters to many business sizes. Individuals and families can benefit most from the free and standard plans with their impressive feature sets.

• Free: Access to essential accounting features, including client management and the customer portal.
• Standard: More automation, bulk updates, and customization options.
• Professional: Extra project management tools like time tracking, invoicing, and expenses.
• Premium: Access to more customization options and your own website domain.

Note that you can only access the free plan if you make less than $50,000 in revenue per year. However, this is a high threshold, so it shouldn’t cause an issue for most looking for personal finance apps.

If you’re starting a new venture with limited funds, Zoho is for you. It’s one of the best free personal finance software with a comprehensive plan that means you won’t have a subscription fee cutting into your budget, but you can still access all the tools you need.

• Multi-currency payments: Convert and record transactions in your account according to the latest exchange rate.
• Bank Account Reconciliation: Automatically reconcile bulk transactions and review AI suggestions.
• Foreign reporting: Generate foreign financial reports to get a comprehensive idea of your business performance.

There’s a choice of three monthly plans on Xero with optional add-ons. Unlike many alternatives, you can’t commit to an annual plan for a discount.

• Starter: Access to invoicing, document management, and basic reporting features.
• Standard: All the Starter features plus the bulk reconciliation tool.
• Premium: The option to handle expenses in a range of currencies.

Besides these features, you can add expense management for $4 per month and project management tools for $7 per month. There’s also the advanced analytics tool which is free for the first four months and $7 after that.

Although many platforms on our list support international businesses, Xero is the top contender. It gives you as much control over foreign finances as local ones. It provides exceptional cash flow analysis and reporting features that give you an in-depth insight into all your financial accounts and help you track metrics for financial planning.

• Profitability estimates: Run reports on income and expenses to see whether projects are making money.
• Expense categorization: Split personal and professional expenses so you don’t get them confused.
• Tax guidance: Get one-on-one support from one of QuickBooks certified accountants.

You can choose between the Solopreneur plan for individuals or the three small business plans. All of them have monthly or annual fixed rates.

• Solopreneur: Basic accounting tools with access to expert tax preparation guidance.
• Simple Start: Project and expense management plus basic reporting tools.
• Essentials: Bill and payment tracking and the option to add two extra users.
• Plus: Access to inventory management and budget settings features for up to five users.

In addition to being competitively priced, QuickBooks often offers discounts and limited-time offers. With an annual commitment, you can receive up to 50% off plans—one of the most generous markdowns we’ve seen.

While QuickBooks is suited to many use cases, it’s great for online stores. Users can integrate with all the essential ecommerce apps like Shopify and Woocommerce. There’s also mileage tracking if you’re handling the deliveries yourself.

• Expert guidance: Have a team of qualified and experienced accountants look over your day-to-day spending.
• AI Assistant: Take a guided tour through tax filing and get questions answered.
• Audit risk meter: Analyze your account to look for common audit triggers to avoid scrutiny from the IRS.

TurboTax has four plans with a fixed monthly rate but no annual plans. You can also tax filing support for a one-off sum every year.

• Basic: Guidance with taxes and guaranteed returns.
• Deluxe: Support with tax deductions and credits plus the audit risk meter tool.
• Premier: More niche support with investments like real estate and stock options.
• Home and business: A combination of expense management tools for your family and your company.

If you’re budget-conscious and want to save money, TurboTax can estimate the annual fees for tax support before you commit. They also look for ways to save you money via tax advantages to maximize your investment in their platform.

You’re most likely to benefit from TurboTax if you’ve got a complicated tax setup. For example, you might have multiple income sources and need more support to manage your money. TurboTax’s expert team can ensure you haven’t overlooked a detail and made a mistake with your personal finance.

• Automatic transaction categorization: Link your bank account to Wave and it automatically organizes your expenses.
• Payroll: Pay staff with the competitively priced payroll add-on.
• Flexible user permissions: Add users to your account and decide whether they’re viewers, editors, payroll managers, or admin — all from the free plan.

There are only two plans on Wave Accounting. However, it has three optional add-ons so you get more flexibility over the total price.

• Starter: Basic invoicing and bookkeeping tools with the ability to add payments.
• Pro Plan: Everything in Starter but payments are included and you can access more advanced tax filing and reporting features.

The receipt capture tool is included in the Pro Plan and can be added to the free plan for $11 per month or $96 per year. The payroll feature is also available for $20 per month, and a bookkeeping service is available for $149.

Freelancers with tight profit margins will appreciate Wave. You can keep your costs low while you continue to offer competitive rates and build up your business. It’s worth mentioning that it has some of the best home business accounting software mobile apps, making it an excellent pick for professionals who work on the go.

• Invoicing: Automates invoice creation, transfers, reminders, and late fees.
• Proposals: Let clients choose from different packages to simplify the startup process. Also, request deposits for projects.
• Estimates: See how much you can expect to pay for your quarterly tax estimates.

Bonsai has three plans with a fixed monthly or annual rate. As standard, you get a discount for an annual commitment but you also get two months free.

• Starter: A basic range of work management and invoicing tools.
• Professional: Access to automation features and integrations.
• Business: Hiring, onboarding, and contractor management plus support for subcontractors.

Many of the expense management features are in the optional Bonsai Tax add-on. You can use this feature or invite extra for $10 more per month.

Bonsai’s simple features are perfect for freelancers who don’t have much experience with personal financial management. The customizable proposal templates and project management features are great for creative projects to do with web content writing or digital illustration. You can easily outsource using the subcontractor tools.

• Deferred payments: Pay over time and set different schedules for vendors without affecting your credit score.
• Security: Benefit from best-class encryption for all your transfers.
• Client management: Allow anyone to pay you via Melia even if they don’t have an account.

Unlike the other platforms, all the Melio features are free to use. They charge per transaction instead at the following rates:

• 9% for card transactions
• 5% for instant transfers
• $20 for fast checks
• $20 for international payments

ACH transfers are completely free. You can fast-track at a rate of 1% per transaction if you need to.

Starting a business with no capital is challenging. Melio makes it easier by only charging per transaction rather than setting a monthly fee. You can also schedule payments for when you’re sure there are funds available in your bank account.

• Savings calculator: Calculate estimates for various savings such as retirement, college funds, and debt.
• Lifetime planner: Create a roadmap for your retirement fund to learn about possible changes.
• Investment performance analytics: Assess your financial health and see the possible impact of debts and investments.

Although Quicken indicates there are three plans, there are actually four tiers. You don’t have annual plans with a discount but the costs are so low that there’s no need.

• Simplifi: A range of basic accounting and reporting tools including tracking, planning, and reporting.
• Deluxe: All the features in Simplifi plus tax filing and debt management.
• Premier: Support with investments and retirement plans.
• Business & Personal: A plan with connected but distinct accounting features for individuals and their companies.

Simplfi has a standalone mobile app. That means you have to install a new program if you upgrade your plan.

If you’re preparing for your family’s future, Quicken has a range of tools to manage savings like retirement and college funds. It’s also well-suited to property investors due to its portfolio management features.

• Branding: Customize your invoices from the lowest tier to give your company a more established look.
• Expense chargeback: Automatically add expense claims to your invoices.
• Automatic transaction categorization: Link Kashoo to your bank accounts to let it categorize all your income and expenses.

As Kashoo doesn’t have monthly rates, you must commit to an annual plan. The prices are reasonably competitive though.

• Truly Small: Basic invoicing, payment, and expense management tools.
• Kashoo: Advanced accounting and reporting tools plus payroll integrations.

Kashoo includes all its features in its plans so there are no optional add-ons. For example, you can find inventory management in the top tier.

Accounting apps usually cater to individuals, freelancers, or small companies. Kashoo is one of the few that targets micro businesses. You get the benefit of low pricing but professional features like ORG charts and inventory management.