If you are an independent contractor, you are considered a business in the eyes of the law. And as a business, you have to do business accounting and taxes. While that can be overwhelming, the right app can help you handle all of your accounting needs. From free online and mobile options to more expensive desktop platforms, there are many different types of accounting apps to choose from. Read on for our list of the best free apps for independent contractors.
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5 Best Free Apps for Independent Contractors:
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If you are a freelancer and need simple accounting with a focus on your needs, Freshbooks is a trailblazing option. This app is suitable for freelancers and starts at $ 4.50 per month after a 30-day trial. If you have more than five clients, you will need the Plus version at $ 7.50 per month or the Premium version for up to 500 clients. These plans cover a 60% discount for the first three months. Save 10% by paying annually instead of monthly. Additional staff costs $ 10 per month each.
2. Intuit’s Quickbooks:
Intuit’s Quickbooks is the most popular accounting app for good reason. While not perfect, it is the best accounting program on the market today and sets a very high bar for what business money management applications can do. Quickbooks are ideal for a wide range of businesses, from freelancers to traditional empires.
This program is the standard for small business accounting and offers much more than an independent contractor is likely to need. But, with that said, it does cover everything an independent contractor might need. This includes live banking, double-entry accounting, billing, payment processing, and mobile apps.
Xero is a major competitor to Quickbooks and offers a wide range of features from $ 9 per month for the initial version, up to $ 60 per month for the premium version. The initial version should be sufficient for most freelancers, as the standard $ 30 version does not require payroll requirements.
All Xero plans include financial reports, mobile apps, 700+ integrations, live bank account links, billing, and multi-staff access.
Wave Accounting is a free accounting application that works both online and on your smartphone. While a few extra features like payment processing and payroll are charged, the free upfront price makes it a winner for many independent contractors.
The free version is great, even compared to some paid accounting apps. Includes billing, live banking, income and expense tracking, and collaborators.
5. Zoho Books:
Zoho offers an email package, CRM, a custom application engine, and an accounting package. The accounting side, Zoho Books, starts at $ 9 a month for the original, or $ 90 a year, and should be a stronghold for most independent contractors.
Zoho Books covers accounting requirements like bank reconciliation, billing, cost tracking, timesheets, projects, recurring transactions, and sales approvals.
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