Alternatively, you could attempt to do it all in a Microsoft Excel spreadsheet.
But you’ll likely outgrow that solution quickly, particularly if you need features like billing and tax form preparation.
There are self employed accounts Excel templates that you can buy online.
3) Open-Source Software
Luckily, there are excellent, free software options to QuickBooks spawned from the open source software community.
A great example of this is Akaunting: Free Accounting Software.
Another alternative is the cost effective, pay-as you-go cloud based software model.
GnuCash is a great example of a QuickBooks self employed alternative.
It’s available for Linux, Windows, Mac OS X, and Android OS.
GnuCash implements double entry bookkeeping like QuickBooks and other professional accounting applications.
That’s a lot of performance at no cost!
Xero really emphasizes the advantages of cloud established accounting.
Touting its collaborative attributes that let you invite others to log in, review your account and financial situation, and offer advice.
Xero also claims to be the simplest-to-use small business accounting software.
Available for mobile as well as desktop users.
Xero accommodates on-the-go sole proprietors and people who love to work from their mobile phones.
You can try Xero for free for 30 days, pricing starts at $9\month thereafter for very basic features.
The Outright app is cloud-based accounting software that is part of GoDaddy Bookkeeping.
Outright’s cloud-based support imports accounting data from a broad range of sources such as your bank, credit cards, PayPal, eBay, Etsy and Amazon accounts, prepares Schedule Cs along with other tax documents, and at every way strives to minimize the number of keystrokes and minutes you spend on bean counting.
The complimentary version also categorizes expenses into Internal revenue service approved categories like profit and loss, spending, and best client reports.
For $9.99/month you also get personalized billing, tax worksheets and reports, Schedule C, and estimates of income and sales tax liabilities and it has good reviews.
Wave is a long-time favourite amongst new small business owners and self employed people who want to send invoices easily from home.
Wave Accounting is a detailed cloud-based small business toolkit which includes invoicing, accounting, payroll, payments, and more, plus personal finance software.
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