Are you trying to keep track of your finances as a freelancer? Read this article to learn about the best account software for freelancers.
There were nearly 60 million freelancers in 2018, which was an increase from 3.7 million in 2014. Every year that number of freelancers in the U.S. continues to grow.
With more people taking up side work full-time freelancing, it’s important to know the best accounting software for freelancers.
This is especially important because a lot of freelancers do everything themselves. They do their own taxes. They have their own accounting system.
But not every accounting system is the best for freelancers. Some are more complicated than others. This is why it’s important to take a look at some of the best accounting software that is relevant to freelancers.
Here is the best accounting software you should know about if you freelance part-time or full-time.
Why You Need a DIY Accounting Software Rather Than Hire Someone
Having the best accounting software for freelancers helps eliminate tax headaches. It avoids going through every single transaction and documenting everything manually.
Accounting software also helps you keep track of profit and loss. It’s also a great tool to have to keep track of billing. You can see how often you need to bill your clients, take down information in regards to billing, and in some instances even send clients invoices.
But ultimately, the best reason you need accounting software is so you can stay organized without spending hours doing the accounting manually.
What Accounting Software Should I Choose?
What is the best accounting software? The truth is there are a lot of softwares that offers the things you need as a freelancer.
You could choose Quickbooks, which helps you track your expenses as business or personal. It also can send invoices. You can also share data from Quickbooks with your accountant or other employees.
Another benefit of Quickbooks is that it has online support and you can generate reports from 6 months to a year on your income.
Zoho is another option that helps you track expenses. It is integrated with Stripe, which is a service that sends invoices. It also automates your workflow and it sends automatic payment reminders.
The most important part of Zoho is that it tracks how much you need to pay in taxes.
If you are trying to figure out accounting software, just remember to find one that helps you accomplish every task that you need to be done.
If you have employees as a freelancer, you can also create paycheck stubs by going to thepaystubs.com.
Finding The Best Accounting Software for Freelancers Is a Necessity
Accounting software is something that is absolutely critical to managing your freelance business.
It’s important because it can help you stay on track of your expenses and taxes. You can figure out how much you want to charge per hour or per project if you do have a freelance business.
Accounting software also helps you delegate expenses or help you pay any employees you might have.
You can find more information on tools for freelancers as well as other essential accounting information on our website.