10 Accounting Tools for Freelance Writers
Freelance writers want to get paid for their work. What a surprise. But keeping track of what they’re paid, for which job, by which vendor, can become almost as much work as the writing itself - and not nearly as much fun.
Below is a list of accounting tools for freelancers, along with the price(s) for them. Most offer a variety of plans at different price points, some even offer their services for free on a permanent basis. Those plans may not have all the options the other vendors offer, but if you’re the stereotypical lonely writer hunched over a keyword, a bare-bones plan may be all you need to keep track of your money.
Read on and decide for yourself.
What to Look For…
Obviously, you need some accounting tools that won’t break the bank. But what else do you need?
Keeping invoices in a folder in your desk is little better than storing them in a shoebox. Yes, you have them preserved, but unless they’re organized in a useful manner you can go broke with a perfectly accurate record of how you did it.
At the most basic level, you need a method of keeping a track of your revenue and income. Income is revenue (what you’re paid) minus taxes and expenses. Your income is the money available to you to spend on housing, food, clothes, etc.
This means you need software that will generate invoices for mailing or emailing so you can get paid. You need to be able to track your expenses, the things you need in order to do your job.
Whatever accounting tools you use have to be able either, A) generate 1099 forms for the IRS or B) provide the information needed to fill out such forms in a timely and accurate manner.
With this in mind, take a look at the following packages.
Top 10 Accounting Tools for Freelance Writers
1. Freshbooks
Cost: $15/mo - Lite, $25/mo - Plus, $50/mo - Premium
Freshbooks lets you start with a 30-day free trial period. This is an important feature freelancers will enjoy. Why pay for something you’re not sure is right for you?
You get Invoicing, Expenses, Projects, Time Tracking, Estimates, Payments, Reporting, and mobile apps. Once you get past the trial period you still get all these in the various price points (which are mainly based on how many clients you have), plus some added bells and whistles.
2. Quickbooks Self-Employed
Cost: $10/mo - basic, $17/mo with tax bundle added
Quickbooks is a well-known name with a good reputation. In addition to the free 30-day trial, you get a software suite with a proven track record of delivering dependable results. You can create custom invoices, track income and expenses, create and manage estimates, all while keeping your personal and business finances separate.
3. Wave
Cost: $0.00 for the basic package, percentage charges for credit card & bank processing, etc.
Wave gives you all the basics - income and expense tracking, invoicing, estimates, receipt scanning, and capture - for free. It only charges on a per transaction basis for credit card and bank processing. If you’re getting paid through PayPal or direct deposit, you won’t need those services so this will be free for you - period.
4. FreeAgent
Cost: $24/month for unlimited clients and projects
In addition to a free 30-day trial, the first six months are ½ off, then it returns to the regular price. The flat fee covers everything with no limits on how many clients, projects, or users you have. Banking is included in this package, as are configurable sales taxes and 1040 preparation.
5. Zoho Books
Cost: $9/mo - basic, $19/mo - standard, $29/mo - professional
There’s no free trial period but the basic package allows more customers and users than most of the others. It also offers the option of adding individual users for $2/month, allowing you to - for instance - start with the basic package then add 1 user for a total of $11/month. This is a nice feature.
6. AND CO
Cost: $0.00/month
As far as we can tell this package is completely free. It probably generates revenue from advertising so be cautious about using it, but if you’re fine with ads popping up, you’ll get the whole package - and it’s a substantial one - absolutely free of charge. That’s an offer that’s hard to beat.
7. Expensify
Cost: $5/mo - Team, $9/mo - Corporate, Custom pricing for large public companies
Along with a free trial period, the top rate is $9 per user. All the other top rates are higher. The package looks impressive and includes integration with QuickBooks, Xero, NetSuite, and more. They require a 1-year commitment, however, so if you decide you don’t like them you’re stuck paying for them until the year is up.
8. Shoeboxed
Cost: $15/mo - Lite, $39/mo - Classic, $69/mo - Business
This is a more expensive plan which requires a 1-year commitment but does have a free trial period. There is a heavy emphasis on mobile usage - tracking mileage, scanning receipts, etc. The Classic and Business plans offer prepaid envelopes for use inside the USA, which is an interesting addition. These two plans also offer integration with QuickBooks.
9. SlickPie
Cost: Price Not Provided by Vendor
This offers a free starter package but makes no mention of any fees or prices after that. An email inquiry about it hasn’t been answered as of the deadline for publication. The available features include bank transactions and payment process. PayPal is specifically mentioned in their product listing, along with Stripe and credit card processing.
10. ZipBooks
Cost: Free to start, $15/mo - Smarter, $35/mo - Sophisticated, $125/mo - Services
The free plan includes PayPal, accepting credit cards, and a connection to 1 bank. The other plans offer more options but for a one-man show, the free plan actually has everything you need at no charge. There aren’t any excess fees while still allowing for future expansion to the larger plans.