Every freelancer who works on his own should be able to do freelancer accounting himself. Not everyone can immediately hire an accountant and pay him a full salary. And it is not always necessary, because not always the accountant will have full-time downloads. 

Most freelancers are not trained to work with numbers and accounts. This may affect the correctness of their earnings. However, anyone who is already listed on Floctopus or another freelance exchange must learn the tricky business of completing reports or calculating income and expenses considering freelancer payment options. And in most cases, it is necessary to do this alone, without assistance.

Why freelancers do not hire an accountant?

Good thing that progress is not in place. There are smart applications and cloud technologies. They can make accounting simple. Nowadays people can use online accounting software for freelancers. It will be much more cost-effective than hiring an accountant. 

If you hire an accountant on a full-time basis as an employee, you need your firm to be large enough, have a large staff, with a high turnover of funds. If you work alone or you have a small number of workers you can do freelancer accounting by yourself. You will only pay extra money and extra taxes for such an employee. In this case, its services will be required every three months. 

Remote workers must consider different freelancer payment options. There are so many electronic systems available that are affordable, sophisticated and convenient. The customer can transfer money very quickly and the employee will be able to transfer it to the card. And there are no taxes. Such systems can serve freelance to employees directly or through exchanges such as Floctopus.

What are the benefits of online accounting software for freelancers?

accounting software for freelancers

For a creative person, freelancer accounting is a real heavenly punishment. Many people do not like all affairs with papers and certificates. However, this is not difficult. The main task is to understand all the nuances. Many subtleties are associated with the tax system that you have chosen at Floctopus. 

Advantages of freelancer accounting online: 

  • Access anywhere and anytime. When you use cloud accounting solutions, you are no longer tied to one computer, such as in your office. The data is hosted on remote servers or in the cloud, and some online accounting software for freelancers also provides mobile client applications to their users. This way, you can get the information you need about your business anywhere, anytime, with a web browser or mobile application. 
  • Centralized update. Almost any software, especially when it comes to professional software, needs regular updates and bug fixes. When talking about a desktop version installed on a computer, this should be done by a company employee. In the case of the web version, all updates are made by the service provider - you will be able to use the latest version of the software at no additional cost. 
  •  Data security and storage. If the entire freelancer accounting is stored in the office, it is enough to spill a cup of coffee on a stack of papers or receipts to lose all valuable information in the last six months. Even good old office computers sometimes break down due to banal power voltage. 
  • In the case of online accounting software for freelancers, all data is securely stored and protected on the server-side. The security is provided by developers, who sometimes spend tens of thousands of dollars investing in security. Besides, these services use such a useful thing as a backup - saving data is ensured by their regular duplication elsewhere, allowing you to recover backup information in the event of any failure. 
  •  Save money earned on Floctopus. One of the biggest benefits of using online freelancer accounting is to reduce the cost to the business owner. Almost all online services that allow you to do online freelancer accounting, work according to the subscription scheme. That is, you simply pay a relatively small amount each month for the duration of the system including freelancer payment options. 
  • Save time. Account information, statements, and reports - all created automatically or can be created with the click of a button. The absence of the need to fill in such documents manually also eliminates the possibility of error. 
  • Freelancer accounting is a rather tedious activity, which is why it is difficult to call the employees involved in it highly productive. If you do this through the Internet, using automated online accounting software for freelancers, the work is much easier. For example, there is no need to fill in the paper once again, as almost half of the work has already been done. 

If you want to become a successful freelancer, work faster and more efficiently, using online freelancer accounting services can be a really good investment. It removes many restrictions, is cheaper and generally improves the quality of work within the team of freelancers at Floctopus.