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Madza
Madza

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How do you handle your Accounting?

Freelance is not about just getting clients and delivering your services. Since you are the boss for yourself, you have to think about other things in parallel. One of them is being accountable for your finance flow.

When it comes to handling this, I've seen different approaches:

  • Some use standard spreadsheets like Excel or similar solutions on cloud like Google Sheets. There are built-in templates for accounting.

  • Others use Accounting software (usually paid for advanced features) like FreshBooks, QuickBooks, Wave, Xero, Zoho Books, FreeAgent, etc.

  • Or do you hire a professional to handle all of that, so you can fully concentrate with interactions with your clients and your business logic?

What's your approach on handling your Accounting and how much do you spend on it monthly?

Discussion (5)

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recursivefaults profile image
Ryan Latta

I think there're two things here..

First there is bookkeeping which is recording your financial transactions correctly

Second is accounting which is how to structure everything for the best cash-flow and lowest taxes.

I currently do my own bookkeeping since it isn't that tough, but I also hire accountants to advise me on how to structure it all and whatnot so that it works well.

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siddhantgoel profile image
Siddhant Goel

I use Python. There's a really nice package called Beancount which provides an implementation of double entry bookkeeping in Python, which is what I've been for since a few years now.

In case this sounds interesting, I wrote a detailed post here: sgoel.dev/posts/how-you-can-track-...

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sdifiore profile image
Sergio Di Fiore

Excel

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madza profile image
Madza Author

How many clients do you handle simultaneously? Just curious.. 😉

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sdifiore profile image
Sergio Di Fiore

Very few.. 5 or 6...