bookkeeping solutions for freelancers

Freelancers are famous for their ability to run an entire business independently. But when you’re wearing many hats, some hats fit better than others. Unless you’re a freelancing bookkeeper, bookkeeping is one task that often falls by the wayside. If left too long, bookkeeping can become easily overwhelming. 


That’s why finding the right bookkeeping for freelancers can make or break your small business. Read on to learn your options for successful bookkeeping management.

bookkeeping solutions for freelancers working at a table


Want to keep managing your bookkeeping on your own? Get the right tools under your belt to make accounting and bookkeeping easier, not harder. You can save time and money by using bookkeeping software that is simplified and meant for small businesses like yours. 

Less Accounting software is a simplified accounting software with all the powerful features you need, but none of the heavy technical jargon and functions that are meant for accountants and large corporations. Keeping it simple helps you get more done quickly. We’ve removed the intimidation and given you the power to handle your bookkeeping. 

Important Bookkeeping Tasks to Remember

If you want to successfully manage your own bookkeeping, here is a general overview of the tasks that you need to do. Staying consistent with these tasks keeps bookkeeping manageable. Manageable bookkeeping is more likely to stay up-to-date and maintain healthy financials for your business. 

  • Digital Tools and Apps: Leverage user-friendly accounting software and apps tailored for freelancers. Platforms like Less Accounting simplify invoicing, expense tracking, and financial reporting, allowing you to focus on your work instead of complex financial tasks.
  • Separate Business and Personal Finances: Establish a dedicated business bank account and credit card. This clear separation makes it easier to track business expenses and income, reducing the chances of overlooking crucial financial details.
  • Consistent Record-keeping: Develop a habit of recording transactions regularly. Whether it’s a client payment, business expense, or project-related income, maintaining a consistent record will save you time and prevent confusion during tax season.
  • Set Aside Taxes: Freelancers often face the challenge of managing their own taxes. Simplify this process by setting aside a percentage of each payment for taxes. This proactive approach ensures you won’t be caught off guard when tax deadlines approach.
  • Monthly Reconciliation: Take a little time each month to reconcile your financial records. Match your bank statements with your bookkeeping entries to identify any discrepancies early on.

If you can keep up with these tasks on a regular basis, your books will be in good shape. Unfortunately, most business owners tend to let things slide and everything becomes quickly overwhelming and disorganized. That’s where hiring a bookkeeper for your freelance business comes in clutch. 

bookkeeping solutions for freelancers

Outsourcing to a Bookkeeper

Hiring a bookkeeper might feel like a big move for a small business, but accounting tasks are one of the first things that business owners outsource. Bookkeeping is vital to your success so it’s best to get it done right. 

To find a bookkeeper, ask your network for referrals or do a little research on your own. A bookkeeper who has an understanding of your business needs and structure will be a great partner. Less Accounting offers full-service bookkeeping, specially tailored for small business owners and freelancers. Our team of bookkeepers has experience helping freelancers across the world get a better picture of their business’s financial health. 

Benefits of Outsourcing

When you choose to outsource your bookkeeping, it’s more than an added expense–it’s a valuable investment. Outsourcing your bookkeeping:

  • Gives you back time to focus on client work, personal development, and other tasks surrounding your business. 
  • Relieves stress by maintaining regular bookkeeping. 
  • Ensures you never miss a tax deadline and you’re always prepared for tax season. 
  • Improves accuracy which drives better business decisions. 
  • Helps manage cash flow and improve cash forecasting. 

While it can be scary to give up control of such a crucial part of your business, if you find the right bookkeeper, you’ll love the results. 

What To Look for in a Bookkeeper

Bookkeepers can come with a variety of experience and specialties. While bookkeepers don’t have to have special education like accountants/CPAs, you may want to choose a bookkeeper with relevant experience and a track record of quality work. 

  • Consider a bookkeeper who has worked specifically with freelancers. They should understand the unique challenges and financial intricacies of freelance work, including irregular income, multiple clients, and business expenses.
  • Ask about their knowledge of tax regulations. A proficient bookkeeper should have a strong understanding of tax regulations relevant to freelancers. They can help you maximize deductions, comply with tax laws, and ensure accurate filings.
  • A tech-savvy bookkeeper can make a smart impact on your business. In the digital age, your bookkeeper must be comfortable using accounting software and relevant financial tools. Tech-savvy bookkeepers can streamline processes, reduce errors, and provide real-time financial insights.
  • Effective communication is vital. Your bookkeeper should be able to explain financial matters in a way that you can understand. Clear communication ensures that you are aware of your financial situation and can make informed decisions.
  • Precision is key in bookkeeping. A detail-oriented bookkeeper will catch errors, reconcile accounts accurately, and provide reliable financial records.
  • Consider the availability of the bookkeeper. Can they respond promptly to your queries or concerns? Accessibility is crucial for addressing financial issues on time.

Why Freelancers Should Hire a Bookkeeper

In a nutshell, having a bookkeeper as your financial ally is a game-changer for freelancers. It can be the key to unlocking your business’s success. By entrusting the nitty-gritty of bookkeeping to the pros, you’re not just saving time – you’re investing in your craft and business growth. With organized financial records, you’re free to do what you love, knowing that your financial ship is sailing smoothly. It’s not just a convenience; it’s your ticket to peace of mind and unlocking the full potential of your freelance journey. Cheers to more time for your passion and less stress about the numbers!

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