Good invoicing software does three things: creates professional invoices fast, delivers them to the right person, and follows up automatically when they go unpaid.
Most freelancers settle for one of the three. Here's how the main options compare in 2026.
What to Look for in Freelance Invoicing Software
Before comparing tools, know what you actually need:
Recurring invoices if you have retainer clients. Time tracking integration if you bill hourly. Automated payment reminders if you spend time chasing clients. Expense tracking if you reconcile costs for tax purposes. Contracts + e-signatures if you want everything in one place.
Not every tool does all of these. The right pick depends on which of these gaps you most need filled.
The Options
Wave (Free)
Best for: Freelancers who need solid invoicing and basic accounting at no cost.
Wave offers free unlimited invoicing, expense tracking, and basic bookkeeping. You can send professional invoices, accept online payments (transaction fees apply), and track income versus expenses — all without a monthly subscription.
The limitation: payment reminders require manual follow-up, and Wave has no contracts or e-signatures. It's a financial tool, not a client management tool.
Best for: Freelancers just starting out or those who prefer to keep invoicing and accounting separate from client management.
Pricing: Free (2.9% + $0.60 per credit card transaction)
Website: waveapps.com
FreshBooks
Best for: Freelancers who bill hourly and need time tracking built into invoicing.
FreshBooks is the most polished invoicing platform in the freelance market. Time tracking feeds directly into invoices, expense tracking is clean, and the invoice design is professional out of the box.
It does have payment reminders, but they require setup and the follow-up sequence is limited compared to more automated tools. No native contracts or e-signatures.
Best for: Hourly-billing freelancers — consultants, developers, designers who track time per project.
Pricing: From $19/month
Website: freshbooks.com
Bonsai
Best for: Freelancers who want invoicing bundled with contracts and proposals.
Bonsai combines proposals, contracts, invoices, and time tracking in one platform. The invoicing is functional, and you can set up automated payment reminders — though the reminder logic is less configurable than dedicated tools.
At $21/month, it's priced above Wave and close to FreshBooks, but with broader scope.
Best for: Freelancers who want to eliminate multiple tools and don't need accounting-depth features.
Pricing: From $21/month
Website: hellobonsai.com
HoneyBook
Best for: Creative freelancers who want automated client workflows, not just invoicing.
HoneyBook's invoicing sits inside a broader automation system — you can build flows that send a proposal, then a contract, then an invoice, all triggered automatically. For photographers, event planners, and designers with repeatable project types, this automation saves real time.
The invoice-only experience isn't its strength — you're paying for the workflow automation, not for the invoicing tool itself. At $36/month (Starter), it's the most expensive option in this category.
Best for: Creative freelancers with repeatable, high-volume project workflows who want end-to-end automation.
Pricing: From $36/month
Website: honeybook.com
FileCurrent
Best for: Freelancers who want contracts, invoices, and automated payment reminders in one place at a lower price.
FileCurrent combines e-signature contracts and invoicing with automated payment reminders that run without any manual effort — reminders go out before the due date, on it, and at intervals after until the invoice is paid or you turn them off.
At $15/month (or $129/year), it's the most affordable option that includes both contracts and automated follow-up. The focus is narrow: get the contract signed, send the invoice, get paid. No time tracking, no expense accounting — but for freelancers whose main pain points are contract signing and invoice collection, it covers both directly.
Best for: Freelancers who close projects verbally, need contracts signed fast, and want invoices paid without manual follow-up.
Pricing: $15/month or $129/year — 7-day free trial, no card required.
Website: filecurrent.com
Side-by-Side Comparison
| Tool | Invoicing | Auto reminders | Contracts | Time tracking | Price |
|---|---|---|---|---|---|
| Wave | ✓ | Manual only | ✗ | ✗ | Free |
| FreshBooks | ✓ | Limited | ✗ | ✓ | $19/mo |
| Bonsai | ✓ | ✓ | ✓ | ✓ | $21/mo |
| HoneyBook | ✓ | ✓ (automated) | ✓ | ✗ | $36/mo |
| FileCurrent | ✓ | ✓ (automated) | ✓ | ✗ | $15/mo |
Which One Is Right for You?
Free with basic accounting: Wave
Hourly billing with time tracking: FreshBooks
All-in-one with moderate automation: Bonsai
Full creative workflow automation: HoneyBook
Contracts + invoices + auto reminders, lower cost: FileCurrent
Frequently Asked Questions
What's the best free invoicing software for freelancers?
Wave is the strongest free option — unlimited invoices, expense tracking, and online payment acceptance. The limitation is no automated reminders and no contracts.
Does invoicing software help you get paid faster?
Yes, primarily through two mechanisms: making it easier for clients to pay (online payment links on the invoice) and automated reminders that follow up consistently without requiring you to do it manually.
Do I need separate accounting software if I use invoicing software?
FreshBooks and Wave include basic bookkeeping. Bonsai, HoneyBook, and FileCurrent focus on client workflows rather than accounting. If you need full double-entry accounting, consider pairing a client tool with QuickBooks or a dedicated bookkeeper.
What invoicing software works best with contracts?
Bonsai, HoneyBook, and FileCurrent all include contracts alongside invoicing. FileCurrent is the lowest-cost option that covers both with automated payment follow-up included.
The Bottom Line
For free invoicing: Wave. For hourly billing: FreshBooks. For the combination of contracts, invoicing, and automated reminders at the lowest monthly cost: FileCurrent — 7-day trial, no card required.
For a broader look at all-in-one freelance tools, see our honeybook alternatives guide.