Is Accounting Software for Independent Contractors Worth the Cost?Īccounting software for independent contractors is worth the cost. Typically, expect to spend anywhere from $4.50 per month for a basic version with a limited number of clients to $300 per month for more custom options with 50 clients, connected bank accounts, and live customer service.
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Some apps offer free 30-day trial periods and others offer discounts for paying annually in advance. There are free and paid versions, and typically the paid versions have more features. The costs of accounting software for independent contractors vary. How Much Does Accounting Software for Independent Contractors Cost? Some helpful accounting app features include: Most accounting apps can be integrated with other apps such as mobile banking, customer relationship management (CRM), and mileage tracking.
It will also suggest categories for organization and store everything related to accounting in one place. The app will do the calculations for you.
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How Does Accounting Software for Independent Contractors Work?Īccounting software for independent contractors works like other accounting software in that you download the app, create an account, and start entering your data. Typically, accounting apps for independent contractors will help with organizing and storing records and receipts, keeping track of accounts payable and accounts receivable, and performing bookkeeping tasks. The software can be an app used on your phone or tablet or one downloaded to your computer. Bench doesn’t include accounting, but it does provide the reports and support you need for your accountant to take care of things come tax day.īench offers a free trial for both of its plans so you can give them a try before committing.įAQs What Is Accounting Software for Independent Contractors?Īccounting software for independent contractors is accounting software that is geared toward independent contractors rather than big companies. You’ll get monthly financial reports and can rest easy knowing the books are taken care of. Whenever you want, you can log in and view statements and reports that you need to run your business. Included in the monthly fee is a team of bookkeepers to monitor your connected financial accounts and keep the books up to date. While it costs more than most others on this list, it includes one big feature the others don’t: a human accountant.
The Premium plan includes everything from the Essential plan as well as tax advisory and tax filing services for $499 per month. The Essential package, which focuses on bookkeeping, costs $299 per month (or $249/month if billed annually). With those things in mind, read on for our list of the best accounting apps for independent contractors.īench is an accountant and an accounting app in one offering two packages. We've also included accounting apps on a variety of platforms, for mobile devices and desktop computers alike, so you'll want to think about where and how you'll need to access your bookkeeping information. If you rely on any specific tools or CRMs, make sure they integrate with the app you choose. Some integrate with a wide range of tools to track expenses, hours, miles, receipts, and other metrics for your business. It's good to note that the cost of these apps can vary - some have monthly fees, others have a one-time fee, and we've also included one in this list that is free to use.Īnother thing to consider is your accounting app's integration capabilities. Do you pay yourself a biweekly paycheck, or submit your own quarterly taxes to the government? Do you have any business assets or inventory to track? Are invoicing and payments a necessity? There are comprehensive programs that can tackle most or all of these needs, but they may be a bit more expensive. So how do you know where to start?įirst, consider the kinds of features you need. From free online and mobile options to more expensive desktop platforms, there are many different kinds of accounting apps to choose from.
While that may sound overwhelming, the right app can help you handle all of your accounting needs. And as a business, you have to do business bookkeeping and taxes. If you are an independent contractor, you are considered a business in the eyes of the law.
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