I’m a a freelancer and I’m paid paid on contract, and I have very specific accounting requirements that are quite different from businesses handling employees on a regular salary. I need to conform to a specific set of tax laws. How do you I go about choosing the best accounting software for contractors? — Jeannie
Before you even think answer that question, you need to ask yourself whether you really want to do it yourself or whether hiring an online accounting service would be the better option. Online accountants offer services on a fixed fee, no commitment basis with unlimited support and a dedicated accountant point of contact. But if you want a more hands-on approach or you simply do not have the resources to hire an accountant, here are some tips to help choose the best accounting software for contractors and freelancers.
These tips are excerpted from a very helpful page that provides pointers on what to look for in accounting software and how to find one that best suits your needs. The same site also provides a side-by-side comparison of the best accounting software for small businesses available today.
You’ll have to decide if you want to buy a desktop package that usually comes with a license to install on a single machine. This usually requires a sizeable investment up front and if you’re just starting out, you might want to consider an online software solution.
Price is always the primary concern of small businesses. When looking at the price, always take note of these points:
You will then want to make a quick check of the features.
You will also want to check for compatibility and integration.
There are many accounting systems available online and some of the more popular ones include FreshBooks, Free Agent, and Liberty Accounts. Before you make the choice, however, make sure you tick off the list above to help you arrive at the best decision. Also read this short article published by the US Small Business Authority that offers these pointers forselecting the right software accounting system.
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