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Bookkeeping Services for Self-Employed and Freelancers

Self employed individuals and freelancers are a growing part of Canada’s business community. With more and more people looking towards using their skills online with remote work, we can expect the needs of freelancers and self employed to grow even more in the coming years.

Bookkeeping for self employed and freelancers requires unique services and software functionalities. Freelancers need more robust features than bookkeeping for personal use or families, but not necessarily the advanced features that a large corporation would. How can you decide what bookkeeping services and software are right for you?

Accountor CPA specializes in accounting and bookkeeping for companies in Canada, including self-employed individuals and freelancers. We are dedicated to helping your business and career succeed and know the importance of professional bookkeeping to your operation.

Grow your brand and your reputation with professional bookkeeping for freelancers and self employed and the best bookkeeping software from Accountor CPA.

Ready to get started?

The Best Self-Employed Bookkeeping Software

What are the best bookkeeping apps for self employed and freelancers? With so many options available, it can be difficult to choose one. At Accountor CPA, part of our bookkeeping services is to help you find the bookkeeping software that suits your business, industry, and your lifestyle.

No two freelancers have the same work style, so no two freelancers will have the same needs from their bookkeeping software.

There are a number of self employed bookkeeping software programs and apps available. These include:

  • QuickBooks Online
  • Xero
  • QuickBooks Self Employed
  • Mint
  • Expensify
  • Hubdoc
  • Banktree
  • Wave

But how do you know which one is right for your business?

All self employed bookkeeping software comes with its own unique features, functions, and price tag. Some apps are suited more towards freelancers who need to track unique projects with different clients, while others are suited towards self-employed individuals with a different business model.

While the scope of features available differs from software to software, self employed individual, independent contractors, and freelancers need robust bookkeeping capabilities to stay on top of their expenses, invoices, and cash flow. Freelancers need many of the same bookkeeping functions as large corporations in their software - typically, much more than someone who is using bookkeeping software for only their personal or family use.

At Accountor CPA, we use many types of bookkeeping software for self employed clients. QuickBooks Online and Xero in particular offer functions that allow for detailed expense tracking, automatic invoicing for clients, inventory management, project management, time tracking integrations, and have mobile app options for easily working on the go.

Freelancers and self-employed individuals have unique expenses to track and need to have organized books for filing taxes upon year-end. We understand the importance of this and make recommendations for bookkeeping apps and software based on these unique needs.

The benefit of working with self employed bookkeeping software is that they are always cloud-based solutions. This means you can access your data safely from any device at any time.

At Accountor CPA, we listen to your financial goals and situation to determine the best bookkeeping software for self employed and freelancers to meet your needs and help you achieve your goals. Keeping organized books can be difficult when you need to focus on running your business. We want to make it as easy as possible by handling the day to day.

We can help you set up your bookkeeping software, learn its functionalities and navigation, and find the best way to help keep you on track.

How To Do Bookkeeping for Self-Employed

Bookkeeping for self employed consists of managing expenses, invoicing, compiling documents, and managing cash flow for your business.

There are daily, weekly, monthly, quarterly, and annual tasks that should be completed for sound bookkeeping. As a self employed individual or freelancer, these tasks can often pile up as daily responsibilities and running your business take up the bulk of your time.

Doing bookkeeping for self employed individuals includes tasks like:

  • Documenting receipts
  • Organizing expenses
  • Issuing invoices
  • Adding new clients and projects
  • Collecting payments
  • Paying bills
  • Reconciling credit card statements and bank statements
  • Tracking how much time you spend on projects
  • Tracking PST/GST/HST
  • Running payroll
  • Preparing tax filings

Good bookkeeping software will fully encapsulate all of these tasks so you can do everything from one app or website.

Bookkeeping services that focus on self employed and freelancers ensure these tasks get completed without requiring you to spend your valuable time doing them. Accountor CPA is the choice of freelancers and self employed individuals across Canada for comprehensive bookkeeping services.

Don’t risk the accuracy of your books and your time spent. Work with a qualified bookkeeping firm today to keep your freelance business moving forward.

Benefits of Bookkeeping for Freelancers and Self Employed

As a freelancer or self employed individual, you need bookkeeping services to keep your business organized and stay on top of your finances.

What are the benefits of bookkeeping services for self employed?

Create a Better Budget

Bookkeeping allows you to easily see where you’re spending the most money and where you are making the most profit. Looking at your spending allows you to make a realistic budget for your business and learn how you can maximize your revenue.

Minimize Expenses

We all usually feel like every expense is necessary until we see our bank or credit card statements at the end of the month. Expense tracking is key for ensuring you are charging clients enough to cover your expenses as a freelancer. We can also generate reports to learn the areas you are spending the most money and where these expenses can be minimized without impacting your business services.

Stay Organized

When you are self employed or freelance, organization is key to success. See all your client invoices and projects consolidated in one place so you can stay organized to offer the best services possible and maintain high client satisfaction.

Professionalism At All Times

As a freelancer, you build your brand based on your reputation and word of mouth. Professional bookkeeping services allow you to provide timely and accurate invoices and show your clients you are professional and experienced.

Make Smarter Spending Decisions

Make spending decisions based on past trends and your established budget. Be prepared for the slower months that all freelancers are familiar with by making smarter spending decisions year round. You are in full control of your spending with personal bookkeeping.

Confidentiality

Professional bookkeepers are bound by confidentiality and professionalism at all times and only recommend software that has the highest security to keep your information safe.

Comprehensive Advice

Bookkeeping services for freelancers do more than just track spending. The reports generated and analyzed can help find gaps in financial planning and make recommendations for budget planning that you may not notice.

Simplified Tax Season

Claiming personal tax credits, expenses, and reporting self-employed income can be difficult at year-end. When tax season comes, you already have a record of expenses and financial activities in your bookkeeping software. No need for a last minute scramble!

Achieve Your Goals

No goal can be achieved without sound planning, and this works just the same for financial goals. Bookkeeping services give you the control, information, and analysis you need to reach your financial goals.

Get Professional Bookkeeping for Self-Employed Services

Ready to take control of your finances and budgeting? Our bookkeeping for self employed and freelancers can help.

Whether you work with a qualified bookkeeper year-round, get recommendations for a bookkeeping app or software, or just need some advice to get started, the team at Accountor CPA is here for you. We know the importance of every dollar when you are self employed or operate as a freelancer and want to help you make the most out of your money.

We provide expert bookkeeping for self-employed and freelancers across industries. Our experienced team of qualified bookkeepers can help you find the right software and develop a system that suits your business and lifestyle. We can help you create monthly budgets, plan for the unexpected, and manage your expenses more easily.

Take control of your finances with our bookkeeping for freelancers and self-employed individuals. Contact Accountor CPA today for a free consultation.