We ranked Freshbooks as the best Best Accounting Software for Self Employed in 2021 in our roundup. Click here to get 50% off for 3 Months Get 30-Days free trial
Sage is an entry level accounting and bookkeeping software that is ideal for SMBs and businesses want to manage their cash flow.
Deployed on: Cloud
Starting From: $10 /month
NetSuite by Oracle
One of the best cloud-based financial management solutions for medium to large organizations. It integrates with all other NetSuite order management, inventory, CRM and eCommerce functions to streamline critical business processes.
Deployed on: Cloud
Starting From: $999
Running a business is hard, especially when you're the only one around, trying to get all sorts of things done all by yourself. If that sounds a lot like you, you're going to need an accounting software to keep track of your bookkeeping the right way.
Good accounting is the backbone of any successful business.
But you're probably aware of all this, hence why you're here.
Do self-employed need an accountant?
Just like any other business owner, self-employed individuals too need to pay their taxes. But it doesn't mean you have to pay an accountant to do your taxes. You can keep track of your spendings, expenses and do your own tax returns using one of these accounting software we listed for self-employed.
GOOD ACCOUNTING SOFTWARE CAN REPLACE THE TAX CONSULTANT
All the accounting software we have listed in our roundup have many years, some more than a decade of experience in accounting and bookkeeping. They're mature and have been serving self employed business owners for a very long time with active online communities.
However, as much as helpful these software are, you're still going to need to understand the basics of accounting if you want to do it right. To do sales tax yourself, and to do it in such a way that all your numbers are correct and by the books, you must be able to get your way around these cloud-based software and know what, where, and how to book.
What are the advantages of doing your own accounting for self employed persons?
In the end, you must decide for yourself whether you should subscribe to an affordable accounting software for self employed, or hire an accountant to do your bookkeeping.
Some might argue that outsourcing such a tedious job will free up your time, thus enabling you to focus on what actually matter the most; your business. On the other hand, using an accounting software will save you thousands of dollars per year, which could fuel further growth of your business, especially when you're just starting out as a startup or an SMB. Even the most expensive accounting software, which comes at around $100 a month is much cheaper compared to working with a tax consultant.
One other benefit of doing your own taxes yourself is, you actually know where you stand financially. When you're doing all your numbers, you'll have a continuous overview of your income, expenses, where the money comes from, and where it actually goes.
What are the advantages of working with an accountant?
First of all, the certainty of having clean and correct books. The US tax system is incredibly complex. Working with an accountant keeps you from messing your accounting, possibly saving you getting into trouble with IRS further down the road.
All you need to do is deliver your bills & invoices to your accountant, and you're pretty much done. Your accountant & tax consultant will also be there when you need advice on tax-saving suggestions.
Ready to get started?