A business is a business, whatever its size, and that includes the increasing number of operations run by freelancers who left the nine-to-five office routine to go it alone. And like other businesses, these individual initiatives are finding certain business practices, such as an efficient accounting system, can’t be ignored. And accounting software for freelancers is becoming an attractive alternative to long hours spent huddled over a spreadsheet.
How to Select the Best Accounting Software in UAE for Freelancers
While freelancers usually have more limited, and far less complex needs than big businesses when it comes to bookkeeping and accounting systems. They also have sole responsibility for setting it up and implementing it. This is where accounting software like Xero, Quickbooks, ZohoBooks, and the free-to-use Wave come in, speeding up and simplifying the process.
Most solo workers will probably not need anything flashy, complicated or high-priced when selecting the best accounting software as freelancers in UAE. Instead, they may find an easy-to-use system capable of handling the essential tasks efficiently is all they need. And if it’s cloud-based, so much the better, to ensure all recorded information is protected.
The most relevant features, functions and benefits are those that offer fast, accurate and easy solutions to time and project tracking, invoicing, tracking payments and expenses, and the ability to create and store digitized copies of receipts and back-up information so as to chart their work history. But some extras like easy mobile access, customer service, integration with third-party apps, and more extensive reporting capabilities, may be necessary in certain situations.
The Top 4 Accounting Software Freelancer Apps in the UAE
Probably one of the most recognized names in accounting software and often the benchmark against which competitors’ products are measured, Quickbooks offers paid access to its cloud-based Self-Employed app which is specifically aimed at meeting freelancers’ needs. Among its most relevant features are its ease of use, simple invoicing, receipt capture, and the ability to separate personal and business expenses. Automatic mileage tracking, and enabling collaboration with an accountant where necessary, are also added bonuses.
Xero: Another cloud-based accounting software product suitable for freelancers, Xero offers integration with a number of the most popular third-party apps and allows for an unlimited number of users, in addition to its billing, invoicing and expense reporting features.
Zoho books: Designed to meet all the accounting needs of a full-time business, and part of a suite of tools aimed at running all aspects of a larger enterprise, ZohoBooks may include features that most freelancers won’t consider necessary or even recognize the advantages of having them.
But for those with more complicated freelance businesses that call for more features, it offers hidden treasures like timesheet workflows which could prove very useful to freelancers trying to manage many customers and handle copious projects which are billed by the hour. And its subscription rates compete well with smaller accounting software products.
Wave: This free online cloud-based software can take care of invoicing, credit card payments, payroll and accounting for freelancers, and it isn’t going to add anything to your expenses entries.
Reaching for the Clouds and Getting the Best Setup to Do So
Most of today’s accounting software is cloud-based, an approach that provides freelancers with easy access to their accounts using any internet connection includes the chances of collaboration with other freelancers, clients or accountants, and protects their accounting data from loss should their computer crash.
While choosing the right accounting software for freelancers in Dubai to use is very important, it’s just the first step. Setting up the system chosen requires a big leap.
With all its potential uses, the software can only use that potential to meet the user’s requirements if it’s set up to do so and the user knows how to use it. Freelancers looking to benefit as much as possible from their new accounting system, are advised to get the setup done for them by a professional accounting firm, like Xcel accounting. To know more how we can help you make the most of your time and money…