4 Best Bookkeeping Services for Solopreneurs: doola Guide 2025

doola’s team of experts just sat together and curated this list of bookkeeping services for solopreneurs. Why? Because we hear you.

As a solopreneur, you signed up for innovation, creativity, and building something extraordinary—not decoding spreadsheets or complex accounting tools.

In this guide, we’ll walk you through the best bookkeeping services, dissecting features, pricing, and potential drawbacks.

While also explaining why doola’s Bookkeeping services for solopreneurs is the one-stop solution for anyone with minimal accounting know-how and even less time.

And if you’d rather speak to a doola expert right away, feel free to book a demo with us.

Common Bookkeeping Mistakes Solopreneurs Make (And How to Avoid Them)

Bookkeeping blunders complicate finances and stunt growth.

Now that’s not good for your business. So before we walk you through our list of bookkeeping services for solopreneurs, let’s address a few common bookkeeping mistakes solopreneurs make.

And how to avoid them, of course.

❌ 1. Mixing Personal and Business Finances

That shared bank account might seem convenient, but it’s a recipe for chaos during tax season — and it makes tracking business performance harder.

Keeping your personal and business finances separate is a strategic move to protect your time and assets.

It creates a liability shield.

Meaning, if your business encounters legal or financial troubles, your personal assets remain protected.

✅ How to Avoid?

Set up a dedicated business bank account to cleanly separate personal and professional finances, ensuring a clear audit trail and simplifying deductions.

❌ 2. Overlooking Receipts

As a solopreneur, if you’re not in the habit of tracking your receipts, or worse, if you’re simply tossing your receipts away:

Your business pays the price.

Without proper documentation to back up the deductions claimed on your tax return, you risk penalties and fines.

✅ How to Avoid?

Safeguard your deductions by digitizing receipts as soon as you get them — it’s a small habit with big rewards.

And here are a few things to know about saving your receipts:

• Digital records of receipts are fully acceptable for audits.

• Be prepared to provide receipts if requested during an audit.

• Retain all receipts for at least seven years for added security.

❌ 3. Delaying Financial Updates

Delaying updates to your financial records can turn into an audit nightmare, especially when tax deadlines roll around.

And here’s what it might look like:

• Struggling to recall transaction details or payment methods can cause confusion.

• Reconciling your bank accounts will become unnecessarily complicated.

• You may overlook tax-deductible expenses, leaving potential savings on the table.

• Errors in records can snowball into major issues if not caught in time.

• Business decisions based on outdated financials could steer you off course.

✅ How to Avoid?

Set aside some time weekly to log your expenses, review transactions, and reconcile your accounts. At the very least, do your books monthly, and weekly at most.

And daily, if you’ve fallen behind on your books.

If you’re having to reconcile daily, you’re at the point where you should opt for doola’s Catch-up Bookkeeping to reclaim financial order.

❌ 4. Overlooking Deductible Expenses

For solopreneurs, every dollar saved counts.

Yet, it’s easy to miss out on valuable deductions like home office expenses, mileage, software subscriptions, or even professional development costs.

These overlooked deductions could significantly reduce your taxable income, meaning you’re paying more than you should.

✅ How to Avoid?

Leverage smart bookkeeping tools to categorize expenses accurately and keep a real-time record of deductible items.

Regularly reviewing your expenses ensures nothing slips through the cracks, setting you up for a stress-free tax season with maximum savings.

📌 Pro Tip;

If you want to sidestep all these pitfalls, doola’s Bookkeeping services for solopreneurs offer expert-backed solutions to keep your finances in check effortlessly.

From tracking deductions to ensuring error-free records, doola manages it all so you can focus on what truly matters — growing your business.

4 Best Bookkeeping Solutions for Busy Solopreneurs

Bookkeeping services for solopreneurs are designed to simplify your financial processes, saving you time and sanity.

Here’s a quick comparison table to help you decide which of the bookkeeping services for solopreneurs suits the pulse of your business.

doola Bookkeeping	QuickBooks Solopreneur	FreshBooks	Wave Accounting
✅ User-friendly, tailored for solopreneurs	Broad focus on small businesses	Best for freelancers/teams	Generic features for small businesses
✅ Customizable plans, pay for what you need	❌ Higher-tier pricing options	❌ Monthly fees, more costly for extras	✅ Free for basic use, limited features
✅ Always accurate and live data	✅ Real-time but requires setup	❌ Limited real-time features	❌ No real-time updates
✅ Dedicated bookkeepers available	❌ Self-service focused, limited guidance	❌ Limited support in base plans	❌ No personal bookkeeping assistance
✅ Audit-proof and tax-ready 📂	✅ Strong tax features 📂	❌ Requires extra configurations	❌ Limited for tax-specific needs
✅ Grows with your business	✅ Scalable for growing teams	✅ Good for teams	❌ Limited for scaling efforts

doola Bookkeeping vs. QuickBooks Solopreneur vs. FreshBooks vs. Wave

1. doola Bookkeeping: All-in-One Solution for Solopreneurs

Tailored specifically for solopreneurs, doola’s All-in-One Accounting is more than software; it’s a comprehensive service designed to eliminate financial guesswork.

From automated income and expense tracking to expert-backed Catch-Up Bookkeeping, doola ensures your finances are always audit-ready.

Here’s a snapshot of how doola’s Bookkeeping services for solopreneurs look like:

📌 Why Do Business Owners Recommend doola’s Bookkeeping Services for Solopreneurs?

Short answer: It frees them from the stress and labor of managing finances all by themselves.

Here are the top reasons why business owners love and recommend doola’s Bookkeeping services for solopreneurs:

• Dedicated bookkeepers: Stay stress-free with personalized financial management.

• Smart features: Effortlessly track income, expenses, and deductions for tax season.

• Scalability: Grow your business with customizable plans that adapt to your needs.

And here’s the best part:

doola offers affordable, flexible pricing to fit any stage of your solopreneur journey.

The table below provides an overview of doola’s pricing tiers:

doola’s Bookkeeping Services for Solopreneurs	Price
Bookkeeping Software	$25 per month
Dedicated Bookkeeping	$167 per month
All-in-One Accounting	$250 per month
Dedicated Tax Filings	$125 per month
Catch-Up Bookkeeping	Year-End Financial Package for every year of catch-up bookkeeping

Book a free demo to get started today.

2. QuickBooks Solopreneur: Self-Employed Accounting

QuickBooks is a trusted name in bookkeeping, offering robust features like income and expense tracking, tax calculations, and inventory management.

It’s well-suited for solopreneurs who need advanced capabilities and prefer DIY financial management.

Pros:

• Comprehensive tools for managing finances and taxes.

• Integration with multiple third-party apps for scalability.

• Reliable customer support and a strong reputation in the market.

Cons:

• Steep learning curve, especially for non-accountants

• Subscription pricing can add up, starting at $30/month for the basic plan

• Price surge for additional features like payroll and advanced analytics

• Limited personal support compared to full-service bookkeeping options

While QuickBooks is robust, navigating its complexities can be overwhelming for solopreneurs focused on growing their businesses.

If QuickBooks feels too time- or resource-consuming, switching to doola’s bookkeeping services for solopreneurs is easy, letting you focus on your passion while leaving the numbers to the pros.

3. FreshBooks: User-Friendly Accounting & Invoicing

FreshBooks is perfect for solopreneurs offering client-focused services. Combining invoicing, time tracking, and bookkeeping, it streamlines client management with ease.

It is tailor-made for solopreneurs and delivers some of the best invoicing features and customer support in the industry.

Pros:

• Manage project budgets and billing effortlessly to stay on track

• Automate recurring invoices for hassle-free monthly billing

• User-friendly dashboard with intuitive navigation for a seamless experience

• Unlimited expenses, estimates, and customized invoices tailored to your needs

Cons:

• Number of billable clients is capped based on your pricing tier, limiting flexibility

• Mobile app offers restricted functionality, lacking access to some features

• Top-tier plan includes an additional user account, but scaling further comes at a cost

• Adding users costs $10 per month, which can add up for larger teams

FreshBooks is a solid choice for solopreneurs, however, as your business grows or you plan to hire employees, its limitations on scalability and added costs for multiple users can become hurdles.

If you’re looking for a bookkeeping solution that scales effortlessly as your business evolves, doola Bookkeeping services for solopreneurs provides the tools and support to make that transition seamless.

4. Wave: Best Free Solution for New Solopreneurs

Ideal for newly minted solopreneurs, Wave provides free accounting tools covering basics like invoicing and expense tracking. Designed for new small businesses, Wave is simple and easy to navigate.

🚩 However, its free tools come with trade-offs.

Wave lacks advanced features like project management, budgeting, and inventory tracking, and it doesn’t scale well like its competitors.

Pros:

• Supports unlimited users and financial accounts

• Handy tools for tracking income, expenses, and generating basic reports

• Seamless conversion of approved estimates into invoices

• Customizable invoices with unique templates to match your branding

• Optional Wave Payments and Payroll services available for an additional fee

Cons:

• The mobile app is limited to invoicing functionalities only

• The free version offers only self-serve customer support, with no live assistance

• Basic reporting tools are available, but more in-depth analysis is lacking

• Time tracking and project management features are not included

• Consecutive invoice numbering is absent, complicating record-keeping

• Integration options with third-party apps are limited

📌 Recommendation:

For solopreneurs seeking a service that fits their unique needs, doola’s All-in-One Accounting stands out with its tailored approach, expert support, and scalable options.

While QuickBooks Solopreneur and FreshBooks offer solid features for broader small businesses, and Wave is a decent free tool, doola’s bookkeeping services for solopreneurs is the best hassle-free, growth-focused solution.

Book a demo with doola today and experience bookkeeping built just for you!

How to Choose the Best Bookkeeping Service Based on Your Business Style

Selecting the right service from the countless bookkeeping services for solopreneurs is essential for optimizing your workflow and helping your business thrive.

And not to forget, different solopreneurs have varying priorities based on their unique operations.

Here’s a detailed guide to matching your bookkeeping needs with the right tool:

1. Evaluate Your Budget:

When starting out, keeping costs low is often a top priority.

If budget constraints are a concern, consider tools like Wave, which provides a robust suite of free features perfect for those at the beginning stages of their journey.

Zoho Books is also cost-effective, it balances affordability with essential functionality, making it ideal for solopreneurs who need more than the basics without breaking the bank.

2. Plan for Scalability:

If you anticipate significant growth in your business, choosing a scalable solution is critical.

Among all the bookkeeping services for solopreneurs online, doola Bookkeeping is an excellent choice for founders with big ambitions.

It offers not only foundational bookkeeping but also advanced services such as Catch-Up Bookkeeping and expert insights to keep up with the demands of a growing business.

doola’s scalability ensures that as your operations expand, your bookkeeping system can adapt without requiring a complete overhaul.

3. Prioritize User Experience:

Not everyone is a tech expert, and they don’t need to be. So the ease of navigating your bookkeeping software can make a big difference.

If you value simplicity and ease of use, go for FreshBooks or Wave.

These tools are designed with intuitive dashboards and streamlined navigation, making it easy for anyone — regardless of their tech skills — to manage their financial data confidently.

4. Assess Integration Needs:

For solopreneurs who rely on multiple tools to run their business — such as CRM software, project management apps, and payment gateways — integrations can make or break your experience.

QuickBooks and doola Bookkeeping are perfect for those needing comprehensive integration capabilities. With these tools, you can seamlessly connect your financials with other business systems, boosting efficiency and data consistency.

For example, doola enables easy integration with platforms like Shopify.

Ultimately, whether you need budget-friendly options or a tool that grows with you, the right solution can make all the difference.

And sorting out the best bookkeeping services for solopreneurs can be tough — doola’s experts are here to simplify it for you.

Schedule a demo and let our professionals help you out.

Glossary: Important Bookkeeping Terms Solopreneurs Should Know 

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📌 10 Important Bookkeeping Terms for Solopreneurs

✔️ Revenue: The total income a business earns before deducting expenses. ✔️ Expenses: Costs incurred during daily operations to generate revenue. ✔️ Assets: Valuable resources owned by a business (cash, inventory, property). ✔️ Liabilities: Financial obligations a business pays (loans, accounts payable). ✔️ Equity: Owner’s share of business after subtracting liabilities from assets. ✔️ Cash flow: The net movement of money into and out of a business. (➕) Positive cash flow = financial health, (➖) negative cash flow = issues 🚩 ✔️ Accounts Receivable: Money owed to a business by customers for services. ✔️ Accounts Payable: Amount a business owes to suppliers and creditors. ✔️ Profit & Loss Statement: Summary of revenue, expenses, and net profit. ✔️ Balance Sheet: A company’s assets, liabilities, and equity at a given point.

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Familiarizing yourself with these terms is critical even before your pick your fit from the available bookkeeping services for solopreneurs.

7 Bookkeeping Tips for Solopreneurs and One-Person Businesses

Bookkeeping services for solopreneurs come with unique challenges, and managing your financial records can be one of the most overwhelming aspects.

Here are 7 actionable tips for managing your finances with ease, ensuring sustainable growth and long-term success.

1. Organize Financial Documents:

Keep receipts, invoices, and bank statements well-ordered in physical and digital folders for easy access and retrieval.

Use cloud storage tools like Google Drive to maintain this system.

2. Set Up a Bookkeeping System:

Choose a system that suits your needs — basic ledgers for simple operations or solutions like doola’s Bookkeeping services for solopreneurs for more complex tasks.

For better reporting:

Categorize transactions by revenue sources and expenses.

3. Track Income and Expenses:

Log every sale and expense carefully. Use apps that connect to your bank accounts for automatic updates and seamless transaction importing, helping you stay aware of available cash.

4. Reconcile Bank Statements:

Match your records with bank statements monthly to spot any discrepancies or missing entries early. Automated reconciliation tools can simplify this step.

5. Prepare for Taxes:

Save 15-30% of revenue for taxes and consider a separate savings account for tax funds.

Keep track of deductible expenses like mileage and business meals, and consult a tax professional to optimize benefits.

6. Review Financial Statements:

Regularly check income statements, balance sheets, and cash flow reports to understand performance trends, manage costs, and set future targets.

7. Seek Professional Help:

As your business grows, consider hiring a professional bookkeeper or accountant to handle complex tasks and tax filings, freeing you to focus on your core business.

doola offers dedicated bookkeeping at $167 per month to solopreneurs and small business owners.

Why You Need doola’s Bookkeeping Services for Solopreneurs

At doola, we understand that solopreneurs need more than just tools; they need a partner.

doola’s bookkeeping services for solopreneurs streamlines every aspect of your financial management — automating repetitive tasks, ensuring your records are precise, and keeping your books up-to-date effortlessly.

With doola’s All-In-One Accounting, you gain:

• Real-time financial updates for smarter, data-backed business decisions.

• Automatic transaction categorization for a clear view of your cash flow.

• Detailed financial reports that put you in control of your growth strategy.

Let doola’s expert team handle the numbers while you focus on what matters most — scaling your business.

Book a free demo today and discover the confidence that comes with professional bookkeeping tailored for you.