Unlike corporations and multinational organizations, freelancers are solely responsible for all functional roles, including accounting, finance, and marketing. They often outsource bookkeeping and accounting activities for accurate data recording and tracking. However, accounting software has made it easier to manage one’s data with just a basic understanding of income and expense. Here are the best accounting and bookkeeping software to share the responsibility of freelancers!
QuickBooks is an efficient accounting and bookkeeping tool that allows entrepreneurs to access and manage their data from desktops, laptops, and smartphones. It offers access privileges to share data with accountants and colleagues for review. QuickBooks creates and sends customized invoices, records expenses, saves receipts with the QuickBooks Online mobile application, customizes reports and dashboards, and more. It supports credit card and bank payments and pays vendors when due. The mobile application automatically backups the data and ensures one accesses constantly updated figures! The Simple Start package is available for $7.5/month.
Wave is free accounting software that helps reduce costs and manage accounting activities without any hassle. It targets freelancers and provides all the necessary bookkeeping and tracking facilities. It creates professional invoices and automatically emails them to the customers. It also tracks payments and invoices, letting freelancers know when to expect account revenues. Wave accepts credit cards, and the money will return within two business days. The lock allows freelancers to personalize invoices. Scan receipts, run businesses in one account, and more. Freelancers can easily manage their accounting with Wave, which too, is free of cost!
FreeAgent is one of the most straightforward accounting tools and helps freelancers do their work quickly without spending time on different overwhelming features. It is a beginner’s application with all the services a freelancer needs, yet it is simple and well-organized. It uses non-accounting vocabulary, such as expenses and sales, instead of Accounts Receivable or Liabilities. It allows freelancers to create and email recurring invoices and keeps reminding clients to make their payments. With FreeAgent, freelancers can take a picture of the receipt from the phone and upload it to the application. A copy of the receipt ensures that even the most minor transactions. FreeAgent is available for $10/month.
With a user-friendly interface, Zoho Books is one of the most potent accounting tools for freelancers and growing businesses. It is simple and convenient and connects with the bank account to stay updated with the cash flow. It tracks the expenses and categorizes them so one can better analyze the patterns of costs incurred. It automatically develops profit and loss statements, cash flow statements, and balance sheets by the end of the period. Zoho Books allows customers to give feedback on the applications, which helps freelancers get reviews for their work. The Basic package is $9, Standard for $19, and Professional for $29.
For freelancers who want to keep track of their expenses, Expensify is the best choice! It allows freelancers to take pictures of the receipts and uploads them on the application instead of manually entering the data. Expensify categorizes expenses and keeps track of the merchants. It lets entrepreneurs add total hours worked and work performed during the period, tracking their productivity. Expensify is for entrepreneurs who have just started and want to manage their expenses efficiently!