Self-Employed Accounting Software for Solopreneurs

Currently we don’t support partnerships or multi-property income or capital gains. By offering a range of customer service options, QuickBooks Self-Employed ensures that users receive timely, efficient, and personalized support. This commitment to customer satisfaction not only helps users resolve issues quickly but also contributes to a positive user experience and long-term success with the software.

This helps you avoid mistakes and ensures your data is accurate and up-to-date. You must submit a Schedule C to claim your business deductions under the Self-Employed category every year. QuickBooks Self-Employed allows you to create and save a copy of your Schedule C so that when it’s time to file taxes, you won’t have any problems doing so. Take control of your business finances with QuickBooks Sole Trader. It’s no frills self-employed
accounting software that keeps things simple.

QuickBooks Support

QuickBooks Sole Trader supports manage CIS contributions for subcontractors only. That’s why QuickBooks lets you easily collaborate with your accountant. Stay on top of your books and make worrying about Self Assessment a thing of the past. Learn proven strategies, avoid common pitfalls, and use case studies to turn your next launch into a success. Yes, QuickBooks Self Employed uses bank-level encryption to protect your data and ensure privacy. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.

Self-Employed Quickbook: Key Features

The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation. Reviews for QuickBooks products are always a mixed bag, but the overall consensus is generally pretty positive. Overall, Solopreneur gets it right in terms of customer support, earning it a 4.9/5 rating.

Furthermore, QB is discontinuing sales of new Desktop products after September 31, 2024 (with the exception of the more robust Enterprise product). QuickBooks Online is a cloud-based software that’s best suited for small to medium businesses. QuickBooks Online supports up to 25 users, boasts advanced features, and has hundreds of integrations. With more features, QBO isn’t quite as easy to learn as QuickBooks Solopreneur. Still, the software is extremely user-friendly and most users only encounter a few navigational difficulties. For the average freelancer, QB Solopreneur offers a good, basic feature set, but for business owners wanting full accounting capabilities, Solopreneur might not cut it.

Does QuickBooks Self Employed support payroll?

Business banking, estimates and invoicing, payment processing, basic reporting, mileage tracking and basic income and expense tracking. Skip the self-employed version and go straight to QuickBooks Online if you think you’ll outgrow QuickBook Solopreneur’s basic reports and features. You may pay by mail, directly through the IRS website, or from QuickBooks Self-Employed. All you need to do is categorize them, so they show up in the correct Schedule C category and on your financial reports.You can always manually add transactions that don’t go through your bank. The mileage tracker feature can help you keep track of all your business-related travel expenses.

• It provides access to other QuickBooks tools and services, including QuickBooks Payments, QuickBooks Checking, and more.
• Overall, QuickBooks Self-Employed is designed to help freelancers streamline their invoicing process and improve their financial management.
• Once you’ve saved the record, your income total will update on the home page.
• If you are registered for Quebec Sales Tax (QST) and need to track QST, and/or require payroll, QuickBooks Online EasyStart may be right for you.
• Unfortunately, QuickBooks Self-Employed doesn’t have the same perk.

How does QuickBooks Self Employed help with tax deductions?

• Accurate records of your payments will save you time and money come tax season.
• While using this intuitive software is relatively straightforward, you need to know you’re using the system correctly if you want accurate accounts at the end of the year.
• You may pay by mail, directly through the IRS website, or from QuickBooks Self-Employed.

In other words, if you’re selling products rather than services, we don’t recommend QuickBooks Self-Employed. All you can do with QuickBooks Self-Employed is send a bland invoice with online payment options, and you’ll pay $15 a month for the pleasure. If sending basic invoices is all you need, we can recommend plenty of cheaper options. QuickBooks’ invoicing capabilities are particularly lacking—which is a huge issue for a freelance-focused product.

QuickBooks also maintains a company blog, as well as social media profiles on Facebook, X/Twitter, YouTube, and LinkedIn. QuickBooks Self-Employed enables you to create custom tags for expenses so you can better track how much you are spending in each category. You’ll be able to run reports that will highlight where you are spending and earning money. Yes, QuickBooks Self-Employed has a feature that automatically tracks your mileage, making it easier to manage your business travel. When it comes to accounting software, QuickBooks Self-Employed stands out, but how does it compare to its competitors?

Which ultimately leads to better decision-making and improved financial outcomes. QuickBooks Self-Employed was built specifically for freelancers, contract workers, and sole proprietors. However, if you want more accounting features, including sales tax tracking and cash flow management, QuickBooks Online might be a better fit. However, businesses looking for full accounting software may be disappointed, as QuickBooks Solopreneur lacks many of the features you’d find with other software. You won’t find inventory management, project management, time tracking, or third-party integrations here. David, the owner of an IT consulting firm, wanted to improve his invoicing process and increase his cash flow.

However, keep in mind that Solopreneur is designed for one-person businesses and is more tax software than accounting software. We took all of this into consideration when giving Solopreneur a score of 3.4/4 for ease of use. QuickBooks Self-Employed allows users to see which invoices have been paid and which are still outstanding. No need to manually calculate self employed quick books mileage deductions for every work-related trip.

QuickBooks Self-Employed is intended for freelancers, contractors, and consultants. If you are registered for Quebec Sales Tax (QST) and need to track QST, and/or require payroll, QuickBooks Online EasyStart may be right for you. We also took our accounting expert’s opinion into consideration when ranking and evaluating our software. QuickBooks is also pretty good at providing quick but comprehensive help for first-time users.

These seven steps will help you start using QuickBooks Self-Employed like a pro! Before long, you’ll track your income, expenses, mileage, bills, and more in one place. So stay organized, save time, and make better business decisions with QuickBooks Self-Employed. QuickBooks Self-Employed offers an easy way for you to create invoices for your customers.

Emily’s Event Planning Business

By using QuickBooks Self Employed to navigate taxes, freelancers and small business owners can simplify tax preparation, minimize their tax liability, and stay compliant with tax laws. This ultimately saves time, reduces stress, and allows you to focus on growing your business. Ideal for when you’re on the move, now you can capture receipts from your smartphone, categorize your expenses, and get paid faster with the ability to send invoices—all in one handy app. QuickBooks Online is famous for integrating with hundreds of third-party apps, from HR and time-tracking apps to payroll. Unfortunately, QuickBooks Self-Employed doesn’t have the same perk. Honestly, it doesn’t sync with much—but most crucially, it doesn’t sync with any of the typical ecommerce integrations, such as Shopify.

This allows users to file their federal and state tax returns directly from the software. This integration simplifies the tax process, making it easier to manage finances and file taxes without hassle. For freelancers with regular clients, QuickBooks Self-Employed offers a recurring invoice feature. This saves time and ensures that payments are received on schedule. Users can set up invoices to be sent automatically at specified intervals.