The accounting profession has seen exponential growth over the last few years. As the number of small businesses continues to rise, so does the demand for accounting software. Are you ready for the new wave of independent contractors? This article features the seven best accounting apps for independent contractors in 2022.
Most accountants are employed by larger companies or government agencies. In addition to their day jobs, they also provide accounting services to smaller businesses. These services include bookkeeping, payroll processing, tax preparation, financial forecasts, etc.
As the number of small businesses increases, so too does the demand for accounting services. If you want to increase your client base and stay ahead of the curve, then consider investing in an accounting app.
The 10 Best Accounting Apps for Independent Contractors in 2022
Quickbooks Online (QBO) is a cloud-based accounting solution designed specifically for small businesses. QBO offers users full functionality at a low cost. Users can view their accounts and transactions in real-time and make changes without entering data manually. There’s no need to download software to access QBO; it runs directly on your browser. QBO provides powerful tools for tracking sales and expenses, generating invoices, analyzing financial statements, sending reminders, managing inventory, and more.
Xero started out as an accounting software company and now includes a suite of business management products including finance, payroll, CRM, project management, invoicing, and asset management. These products use a single interface and a shared database, helping small businesses streamline operations and save money. Xero integrates with third-party apps, making it simple to import customer information from Gmail and Salesforce.com.
FreshBooks was created to help independent contractors and freelancers keep track of billable hours, estimates, and invoicing. The app works with clients using the popular Stripe payment platform. Clients receive daily updates on how much they owe you, which helps them stay on top of their cash flow and pay bills on time. You can also add notes about each conversation you have with a client to get a complete picture of what’s going on.
Wave is a billing and invoicing tool developed for freelancers and independent contractors. It is a powerful project management application that integrates with a variety of services including Google Docs, Dropbox, Basecamp, Trello, and GitHub to name just a few. Wave makes collaboration seamless and simple, all while providing detailed reports on projects and tasks. The app has a built-in credit card processor that makes accepting payments quick and hassle-free. Payments are processed via Stripe, PayPal, Google Wallet, and Apple Pay.
TSheets is a simple yet effective task management tool that helps you stay organized and on top of things. Create a list of everything that needs doing and add start dates and due dates to help keep track of what should get done and when. TSheets also sends reminders when something is overdue.
Zoho Books is a cloud-based invoicing and expense tracking app that helps independent contractors balance their checkbooks. It is a simple, yet flexible, invoicing software that comes with basic and advanced features. Features include customizable templates, recurring invoices, estimates, discounts, and more. All of these options make it easy to create professional-looking invoices. It connects to your bank account and credit cards and displays all transaction history in one place. You can even set up automatic monthly transfers to keep your bank account balanced.
Harvest is a beautiful and simple CRM (Customer Relationship Management) software that focuses on sales. Harvest provides tools for managing your contacts, leads, opportunities, and deals. You can even set up automated emails to follow up with your customers.
Invoice Ninja is a web-based invoicing service that lets users create custom invoices from templates and connect with customers over the phone or email. Customers can request quotes and sign contracts right inside the app. When work gets underway, the app automatically sends invoices based on milestones reached. Users can attach documents like receipts and images while saving time and eliminating the need to type up invoice details.
Billing hero is a subscription billing system for freelance professionals. You can easily manage subscriptions and cancel recurring charges without ever having to log into your account. The payment processing happens automatically and all chargebacks are handled seamlessly.
Toggl keeps track of how much time you spend working per week. It’s a task manager that helps you stay organized and focused. It provides graphs and charts that help you measure progress over time.
Managing your account and taxes now gets easier with the above tools. You just need to create an account on those platforms and give some permission to track the data and boom it’s done. Now, these tools will automatically track all your data and business things and create an accounting report for you.
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