Oh, bookkeeping. The bane of every business owner's existence.
But, we all know that keeping track of our monies is the secret to leading the carefree, glamour-filled lifestyle. As an independent woman, it is imperative that we know how to manage our books. And not end up in a BBHMM situation like Rihanna did with her CPA firm. More about that, here.
Often times, business owners wait until tax season to start thinking about their books. Leaving you in a frenzy trying to figure out where the receipt is for that random $87 charge way back in the month of the May.
Do your tax accountant a favor this year and let's burn all of the shoeboxes. Get a jumpstart on organizing your books by using an online program. Not only does this make filing super easy peasy, it also helps you stay on top of your finances throughout the year during your weekly money dates.
Here is a list of the top five bookkeeping programs that I love for the independent woman.
Quickbooks Self-Employed - a fantastic tool for freelancers and independent contractors. Best feature: Love that it automatically calculates your quarterly taxes, and allows you to send invoices on the go. Downside: customizing your invoices is very limited, which we know is important to our creative friends. Cost: Starts at $10/month and goes up to $17/month.
Freshbooks- great tool for the self-employed and project-based businesses. Best feature: hands down the best invoice customization tool on the market. Downside: the financial reporting is limited, which may be an issue as you grow your business. Cost: Starts at $15/month and goes up to $50/month
Xero Tax Touch- known as beautiful accounting software, this program's design is really easy on the eyes and geared towards freelancers/independent contractors. Best feature: easy-to-read report on your income, expenses and how much taxes you owe for the year. Downside: no invoicing capability, which is a huge downside for the woman on the go. Cost: $6/month
Sage One- geared towards the small business owner on the go. Best feature: great inventory tracking capabilities. Downside: this product is a little too robust for the freelancer or independent contractor, and therefore not very intuitive. Cost: $25/month
Kashoo- named the #1 accounting app on the iPad and really great for the traveling business owner. Best feature: works offline so you can access your data even if you are out of internet range. Downside: similar to SageOne, not necessarily an intuitive program for the freelancer or independent contractor. Cost: Approximately $17/month
And now we'd like to hear from you! Which accounting software do you use for your business and why? Leave a comment below.
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