Do you plan to enter freelancing? Do you have trouble meeting deadlines? Regardless of your situation, equipping yourself with the right tools helps you accomplish your tasks faster than ever.
One of the best things about being a freelancer is that you are the boss of your business, your own time, and the projects you want to work on. However, you have to deal with plenty of things, from finding clients and keeping current clients to managing workloads. In short, you have to do everything.
As a freelancer, you have to effectively manage your processes, such as clients, projects, invoices, and invoices. Fortunately, you can consider the tools below to maximize your chances of success:
- FreeAgent
Best for:
- UK-based freelancers who want built-in tax timelines and self-assessment
- paid in several currencies
This all-around accounting tool tracks time, prepares a tax return, sends invoices, and manages projects. Freelancers who are paid in multiple currencies, and use some apps to receive and convert money can take advantage of the tool’s streamlined accounting. It makes invoicing to clients easy with the right currency, records payments in a particular currency, and then converts to the users’ currency.
Since FreeAgent connects to multiple banks, it can automatically add expenses via business card or enable users to import the bulk expenses CSV. Users can have a quick overview of the business’ key metrics on the dashboard. Interestingly, the tool comes with separate websites for the US, UK, and the rest of the world to get the most relevant information.
- QuickBooks Self-Employed
Best for:
- Freelancers who want an instant bank reconciliation
- Plan to scale freelance business in the next few years
- Want robust native integrations with other apps
QuickBooks Self-Employed enables freelancers to access a lighter plan than cloud-based products. This tool sends and tracks invoices, separates personal and business expenses, and tracks mileage. After choosing a plan, the freelance business can scale, whether to switch products and plants when needed or not.
This tool for freelancers is an ideal choice for those searching for a wide array of integrations. It also comes with an easy-to-use and comprehensive feature set. It allows the users to enjoy an instant bank reconciliation. It is also best for freelancers with a QuickBooks partner account.
- Xero
Best for:
- Freelancers who want retail app integrations
- Want an instant bank reconciliation and strong native integrations with other apps
This accounting tool offers freelancers high-end solutions for effective pipeline and account management. It is beautifully managed, extremely user-friendly, and ideal for freelancers who plan to scale up their business in the next few years. It also allows users to switch to other plans.
As a laser-focused tool, Xero helps save time since it can connect directly to the bank. So, users can create and follow up with invoices as quickly as possible and integrate with other business apps. Freelancers can save even more time and cut paperwork clutter, thanks to Xero’s automatic entry tool and data capture.
- CO
Best for:
- Freelancers who want to manage unlimited projects and clients
- Want a convenient and straightforward user-experience
- Do not need advanced accounting features
This powerful all-in-one tool is designed to manage and grow a freelance career or business. It is the right choice for freelancers who are just getting started. Many freelancers and businesses use it for invoicing clients, sending proposals, getting paid, and managing tasks, time, and expenses.
In 2018, AND.CO was acquired by Fiverr and currently offers paid plans. Interested freelancers can start with the free plan. Then, as the freelance business grows, they can switch to paid plans to manage unlimited clients. The tool also allows them to connect a maximum of six bank accounts to ensure accurate tracking of invoices and payments.
- FreshBooks
Best for:
- Freelancers who prioritize ease of use and simplicity
- Want unlimited invoices, card payments, and estimates
- Need time to track functionality at an affordable cost
FreshBooks is another all-in-one solution for easy business accounting and invoicing. While it is simple to use, it is loaded with a great feature set dedicated to freelancers and entrepreneurs. Freelancers who choose the Lite Plan can enjoy unlimited invoices, online card payments, estimates, bank transfers, expenses, and time tracking. It also features insightful Tax Time reports.
If freelancers choose the Plus Plan, they can take advantage of the additional automation, including scheduled late payment reminders, late fees, and recurring invoices. They can also have easy access to client retainers. As for the Premium Plan, growing businesses can manage their 500 clients with ease.
- Cushion
Best for:
- Freelancers who want a clear workload view
- Want to avoid too much work
- Do not need a comprehensive accounting tool right now
- Have another system syncing with Cushion (Xero, FreeAgent, FreshBooks)
This powerful tool is designed to provide freelancers with a clear view of the workload. It helps improve cash flow and offers strong time tracking and invoicing features. It provides users unique feature set and beautiful UX, preventing too much work.
With Cushion, freelancers can visualize their future invoices, expenses, earnings, and workload. That way, they have an anticipation about their financial status ahead of time and then plan their finances efficiently. This tool is what they need to stay on top of their workload, find valuable balance, and boost cash flow.
- Wave Accounting
Best for:
- Freelancers who do not need to track inventory, time, or mileage
- Focus on receipt scanning, basic accounting, and invoicing
- Have a limited budget and want a free app to manage freelance business
This financial software offers excellent features at a low price point. In fact, they require zero amount to get started because it is FREE. It provides the core receipt scanning, invoicing, and accounting features. So, users can run their business a breeze. If online payments are required, they can take advantage of pay-per-use access.
Final Thoughts
Having a freelance career or managing a freelance business can be an overwhelming endeavor. However, if you have any of the tools above, you can streamline all the processes and then focus on growing your business. Plus, you can enjoy a work-life balance.
