10 Best Free Invoicing Tools for Small and Medium Businesses

Looking for the best free invoicing software in 2024 for your growing business? You’re in luck! We’ve compiled a list of 10 free invoicing tools, including their overviews followed up with pros and cons and additionally some insight into what kind of business each one is best suited for.

Criteria used for rating

But before we get into the list it’s important that we understand the criteria that were used in making this list:

Criteria	Description
User Friendliness	Ease of use and intuitive interface design to ensure quick navigation and ease of use for both beginners and experienced users.
Features	Range of features offered, including unlimited invoicing, client management, expense tracking, time tracking, payment processing, and automation.
Customization	Ability to customize invoice templates and other aspects of the invoicing process to match business branding.
Integration	Integration capabilities with other software and tools, such as accounting software, payment gateways, and project management tools.
Scalability	Detailed procedures with codes, insurance details, compliance statements
Cost	Inclusivity and value provided by the free plan, offering robust features without immediate need for paid plans, features and higher client/invoice limits.
Customer Support	Availability and quality of customer support, ensuring reliable assistance for users, especially those new to invoicing softwares.

1. Wave

Wave was launched in 2010 and originated from Toronto, Canada. It quickly became popular for its comprehensive suite of financial tools tailored for small businesses and freelancers. Wave has been downloaded and used by millions of users globally, thanks to its entirely free model and robust feature set.

Pros:

• Super user-friendly
• Lots of features, like income and expense tracking
• Unlimited invoices and clients
• Completely free

Cons:

• Not many integrations with other software
• Customer support can be a bit slow

Best For: Small businesses and freelancers

2. Zoho Invoice

Zoho Invoice is part of the larger Zoho suite of products, which was founded in 1996 in India. Zoho Invoice itself was introduced in 2008. It has gained a solid reputation for its customizable templates and automated workflows. Zoho boasts millions of users across its entire suite, and Zoho Invoice has become a trusted tool for small businesses worldwide.

Pros:

• You can customize the templates
• Has automated workflows
• Supports multiple currencies
• Free if you have fewer than five customers

Cons:

• Limited to five customers on the free plan
• Some advanced features need a paid plan

Best For: Small businesses with just a few clients

3. Invoice Ninja

Invoice Ninja was founded in 2014 and is an open-source invoicing solution that originated in the USA. It’s known for supporting a large number of clients and offering a self-hosted version. Invoice Ninja has been downloaded over 100,000 times from GitHub, and its user base continues to grow due to its flexibility and feature-rich platform.

Pros:

• Supports up to 100 clients
• Unlimited invoices
• Includes time tracking
• There's an open-source version

Cons:

• The interface can be a bit complex for newbies
• Some features are only in the paid plans

Best For: Medium sized businesses with moderate invoicing needs

4. PayPal Invoicing

PayPal, established in 1998 and headquartered in the USA, added invoicing to its suite of services in the early 2000s. PayPal Invoicing leverages PayPal’s extensive user base and payment processing capabilities. With over 300 million active users globally, PayPal Invoicing is a go-to solution for many freelancers and small businesses already using PayPal.

Pros:

• Super easy to create and send invoices
• Clients can pay quickly with PayPal
• Integrates well with PayPal’s payment system

Cons: PayPal transaction fees apply to payments received Limited customization for invoices

Best For: Freelancers and businesses already using PayPal

5. Square Invoices

Square, founded in 2009 in the USA, introduced Square Invoices in 2014 as part of its payment processing ecosystem. Known for its ease of use and integration with Square’s other products, Square Invoices has become popular among retailers and small businesses. Square boasts millions of active users across its various products.

Pros:

• Seamlessly integrates with Square’s payment system
• Very easy to use
• No monthly fees; you only pay when you get paid

Cons:

• Transaction fees on payments received
• Best for businesses already using Square

Best For: Small businesses and retailers using Square

6. Harvest

Harvest was launched in 2006 in New York, USA. It started as a time tracking tool and later expanded to include invoicing features. Harvest is especially popular among freelancers and small agencies for its robust time tracking and project management capabilities. It has been downloaded and used by over 70,000 customers worldwide.

Pros:

• Great time tracking features
• User friendly interface
• Integrates with various third-party apps

Cons:

• Free plan is pretty limited (only one user and two projects)
• Advanced features need a paid plan

Best For: Freelancers and small agencies needing time tracking and project management

7. Invoice Home

Invoice Home was established in 2011 in the USA. It’s known for its simplicity and variety of invoice templates, making it a favorite among freelancers and small businesses. Invoice Home has been downloaded by hundreds of thousands of users globally, who appreciate its straightforward approach to invoicing.

Pros:

• Simple and straightforward to use
• Lots of templates to choose from
• Quick invoice creation

Cons:

• Lacks advanced features like expense tracking and inventory management
• Limited integrations with other tools

Best For: Freelancers and small businesses needing basic invoicing

8. Hopscotch

Hopscotch is a new entrant, launched in 2020 in the USA. Designed specifically for small businesses and freelancers, it offers customizable templates and payment tracking. While it’s less known compared to others, it has quickly garnered a loyal user base with thousands of downloads due to its user-centric design.

Pros:

• Customizable templates
• Tracks payments
• Designed for small businesses and freelancers

Cons:

• Limited features compared to other platforms
• Less known, so fewer user reviews and support options

Best For: Freelancers and very small businesses

9. Hiveage

Hiveage, originally known as CurdBee, was founded in 2007 in Sri Lanka and rebranded in 2014. It’s known for supporting unlimited clients and invoices, and includes expense and time tracking. Hiveage has a strong user base with over 60,000 businesses signed up globally, making it a reliable choice for small to medium-sized businesses.

Pros:

• Supports unlimited clients and invoices on the free plan
• Includes expense and time tracking
• Scales well for growing businesses

Cons:

• Some advanced features require paid subscription
• Interface can be complicated for beginners

Best For: Small to medium-sized businesses with growing needs

10. Helcim

Helcim was founded in 2006 in Canada. It started as a payment processing company and later added invoicing features to its platform. Known for its comprehensive invoicing and payment processing capabilities, Helcim has been adopted by thousands of businesses across North America. It’s appreciated for its strong integration capabilities and secure platform.

Pros:

• It’s free
• Comprehensive invoicing and payment processing features
• Customizable invoice templates
• Strong integration capabilities

Cons:

• More complex setup compared to some other tools on the list
• User might experience a learning to become fully aware of the capabilities

Best For: Medium-sized businesses needing robust invoicing and payment processing

These tools offer a variety of features to fit different business needs, from simple invoicing to comprehensive financial management. Whether you're a freelancer, a small business owner, or running a growing company, there's something here for you!