Cari On...: Freelance Accounting Software

There are many accounting software programs from which to choose and QuickBooks seems to be the most popular. QuickBooks software is expensive and their monthly online program can quickly add up. There's another popular online program called Xero but they also charge just to use their software. NetSuite's price is outrageous and would probably work better with larger firms. But, if you are just starting out as a freelancer or are already years into this career, your accounting needs are usually just accounts receivable/payable, business expenses, and financial statements.

One such program that gives you everything that QuickBooks can give you and is truly free is an online program called Wave. I've been using it for four months and am completely satisfied. You're probably asking, "Well, how do they make their money?" That's a really good question. They have two services for which you can choose to pay. The first one is their credit card system. They will take an average of 3% for each payment you receive which is a standard industry. And, the second paid service is a payroll system. If you need to pay employees, then you can sign up for this service.

The software is intuitive. Once you open the program, you are immediately directed to your dashboard which gives you a snapshot of your net income. It comes loaded with journal transactions and makes it easy to add any that are not included. At the end of the year, there are about twelve reports you can run to help with your taxes.

If you are tired of copying your receipts or scanning them to your computer, there is a cell phone app that captures your receipt and sends this picture to your account. This receipt is always stored in the cloud and makes it easy to record to the correct expense account. There is also another app that can easily invoice your customers.

I know that other software programs can probably perform just as well as Wave, but most of them are not free. This program is great for freelancers and owners of small businesses.

For other free online accounting software programs, click here.

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