Freelance is not about just getting clients and delivering your services. Since you are the boss for yourself, you have to think about other things in parallel. One of them is being accountable for your finance flow.
When it comes to handling this, I've seen different approaches:
Some use standard spreadsheets like Excel or similar solutions on cloud like Google Sheets. There are built-in templates for accounting.
Others use Accounting software (usually paid for advanced features) like FreshBooks, QuickBooks, Wave, Xero, Zoho Books, FreeAgent, etc.
Or do you hire a professional to handle all of that, so you can fully concentrate with interactions with your clients and your business logic?
What's your approach on handling your Accounting and how much do you spend on it monthly?
Top comments (6)
I am always having problems doing accounting but now I know how to find the useful accounting assignment help to make it work for me and this is how I am getting good grades in my assignments now.
I think there're two things here..
First there is bookkeeping which is recording your financial transactions correctly
Second is accounting which is how to structure everything for the best cash-flow and lowest taxes.
I currently do my own bookkeeping since it isn't that tough, but I also hire accountants to advise me on how to structure it all and whatnot so that it works well.
I use Python. There's a really nice package called Beancount which provides an implementation of double entry bookkeeping in Python, which is what I've been for since a few years now.
In case this sounds interesting, I wrote a detailed post here: sgoel.dev/posts/how-you-can-track-...
Excel
How many clients do you handle simultaneously? Just curious.. 😉
Very few.. 5 or 6...