When planning to start an online freelancing career, most people don’t think about ways of managing their financial aspects of the job. The management of this essential element includes creating & sending invoices to their clients, going through receipts to check if the payments are done as they should, and even filing taxes.
Accounting software also helps you track your expenses, which is essential as you don’t have to record every purchase you make. Tracking your costs also enables you to make better financial decisions. When choosing accounting software, there are some things which you should consider, and some of them include features of the software.
Ensure you select software that covers all the tasks you need. You should also ensure that the software is budget-friendly, easy to use, and is beginner-friendly. The following are some of the best accounting software in the market today for online freelancers.
5 Accounting Software for Online Freelancers
Xero is one of the web-based accounting systems in 2021. It gives you a clear view of your financial position, making it easier for you to know how your online freelancing career is going. Using this amazing software enables you to enjoy features such as double-entry accounting.
The fact that this software has over one million users shows that it is reliable and efficient. Even though Xero is not free, it is, without doubt, a worthy investment.
Unlike many other online freelancing accounting software in the market today, Wave is free and has fantastic features. This is the ideal accounting software for beginners as it provides all the services you need, including sending invoices, processing payroll, and even scanning receipts for free.
When starting your online freelancing career, you need to spend as little as possible, as this is usually a very delicate period. Wave is also easy to use, which is precisely what you need if you are a beginner. This is one of the few fully-fledged accounting software, which means that you can balance your books using this elegant software.
FreshBooks is an elegant online freelancing accounting software with many exciting features. It allows you to send invoices to multiple clients, and this is cool as you don’t have to keep on repeating the same process.
Not all clients are the same; some clients are very punctual when making payments, and others have to be reminded all the time. With FreshBooks, you should not worry as it allows you to set up automated payment reminders.
FreshBooks is, however, not free, but it’s affordable. All you have to do is choose the package that matches your budget and that suits your business.
4. AND CO
AND CO is one of the most sought-after accounting software in 2021. It’s easy to use, has robust mobile apps, outstanding customer service, and excellent accounting features. With all the above advantages, it’s easy to see why people love AND CO.
One of the things that you should know before selecting this software is that it’s not free to a freelancer with many clients. The only people who are allowed to use the application for free are those with only one client.
Some of the features present include time tracking, contracts, invoicing, expense tracking, and proposals, among many others.
QuickBooks is fantastic accounting software. Benefits of using this software include; it’s easy to use, has incredible features, excellent tax support, and turbo tax integration. QuickBooks is not free, and some of the features available include invoicing, expenses & income tracking, fixed asset management, and separate business and personal expenses.
When looking for accounting software, you should consider factors such as tracking projects, cost, time tracking ability, payments options available, and overall accounting capability.