I think one of the big secrets to self-employment is ensuring you only pay for what you need, and pay only what you need to pay for it, people will promise you the earth for services, but do you need it?
So for all you fellow hard working self-employed persons out there who have probably been bombarded with advertising for such things as ‘QuickBooks’ accounting software and mobile app. It’s good stuff I have no doubt, but when I looked into it and considered signing up, as soon as you start adding the features you want, the price just went up and up!
On my quest to find a suitable online accounting suite I discovered a number of options which all cost money, but in my usual search for the holy grail (something that is entirely FREE TO USE!), I discovered ‘Wave Apps’. It is ABSOLUTELY FREE TO USE! I have been using it since April for this financial year and is in my opinion very easy to use and ABSOLUTELY BRILLIANT. It does all the things you want it to do, including invoicing, but it doesn’t end there, because if you sign up to their ‘Stripe’ card processing account (which is free, you only pay a mere 1.75% per transaction paid) it makes the payment of invoices so simple for your customers.
You won’t learn to use it in an hour, it will take a short while to get the hang, but if you are prepared to put a few hours in and do it properly, you will wonder how you survived without it, and remember it is FREE, so if it is a little slow sometimes, don’t complain. I give it 8/10, and supect I would feel no better about a paid for product, so don’t look a gift horse in the mouth. You can also set up additional users, so your accountant can log in and get what they need.
The best thing about using an accounting suite like this is that if you get it right, then you can negotiate a significant saving on your annual accountants bill, because what you present to them is a fully reconciled set of accounts, report ready! There is no limit to the size of business either, so it can handle all your VAT as well!
This is definitely an essential piece of kit:
WAVE APPS – https://www.waveapps.com/
Go forth, be super organised and SAVE MONEY!