Over the next several weeks, I will outline some financial tips to assist you and your freelance business.  Note I am not a certified public accountant (CPA) or an attorney, these tips have help me to stay in business for over 10 years.  I would recommend you seek professional advice, these are just tips which has help me.

A few weeks ago, I wrote about how profit and loss statements are your best friend.  Most freelancers do not know the types of applications to assist them with their profit and loss statements.  I am going to give you a few applications to help record your profit and loss statements.

Quickbooks

Quickbooks is the most popular application.  It ranges from $12 – 35 a month.  It has many features and options including allowing access for your CPA.  You are able to screenshot invoices and receipts and upload them to quickbooks.  You can invoice and secure payments from clients.  You can track subcontractors expenses and payment. It even allows you to record payments to employees.

Freshbook

Freshbook is almost as popular as Quickbooks.  It ranges from $15 – 50 a month, Freshbook offers the same features as Quickbooks.  You can record invoices and receipts.  You can add your CPA to your account. You can invoice and secured payment from clients. You can track subcontractors expenses and payment and even record payments to employees.  The biggest difference is Freshbook allows you to put in place automatic payment reminders.

Xero

Xero is an account software, with many features that a freelancer probably does not need. It ranges from $9 – 60 a month.  It offers you the ability to record invoices and receipts.  You can add your CPA to your account.  You can invoice and secure payments from clients.  You can track subcontractors expenses and payments and even record payments to employees.  Surprising the customer interface is very friendly and it is super easy to navigate.

Zohobooks

Zoho books is from the Zoho family, which offers services from email providers to cloud services.  The books services range from $9 – 29 a month.  It offer you the ability to record invoices and receipts.  You can add your CPA to your account. You can invoice and secure payments from clients.  You can track subcontractors expenses and payments and even record payments to employees.  While it comes with mobile ready software, the interface was not as friendly as some other options.

Wave

Wave apps is an accounting software.  It is totally free.  The application offer you the ability to record invoices and receipts.  You can add your CPA to your account. You can invoice and secure payments from clients.  You can track subcontractors expenses and payments and even record payments to employees. It does come with a delay on getting payments, typically around to 2 – 3 days after receipt.  It does have an instant payment features, but that is a bigger cost to you. So while you do not have a month cost associated with Wave, you will pay a fee to secure payments.

Image courtesy of Stellrweb.

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