I’ve used Wave Accounting for over a year, and I highly recommend it for freelancers and small businesses. It’s like Mint, except for business accounting rather than personal finance. You connect your bank accounts, and Wave automatically imports income and expenses. You can also manually enter transactions. Like Mint, Wave Accounting is free to use because it displays unobtrusive ads.
Like Mint, Wave has interactive charts and graphs, but they’re not as polished or full-featured as Mint’s. What Wave has that Mint doesn’t is accounting reports, including balance sheet, general ledger, income statement, income by customer, and expense by vendor. I use the income statement to calculate what I owe for estimated taxes.
Wave does invoicing, but I’ve been using Freshbooks for invoicing since I started my business, and it’s still serving me well. At some point I’ll probably switch to a single system for invoicing and accounting.
What do you use for accounting and invoicing?