What easy to use cloud accounting software would you recommend for a self-employed?
If it’s for just you as a self-employed person, I’d look at FreshBooks or Wave. They’re both super-simple and work well for non accountants. I’d also suggest to look at 1tap Receipts by Receipt Bank. It’s wonderful and does a great job of converting receipts into data.
Also MileIQ is amazing for mileage.
I don’t like the bundling of TurboTax with QBO (~50% of QBOSE sales, according to investor relations data). I think it’s damaging to Intuit’s relationship with accountants, bookkeepers, and tax preparers.
You can order QB self-employed separately and not bundle it with Turbo Tax. But the TurboTax thing is problematic for many accountants, bookkeepers, and tax preparers.
FreshBooks isn’t an accounting software. It’s a single entry system – but it works for entrepreneurs and self-employed people with extremely simple needs – and it’s the easiest thing I’ve ever seen to use. It also provides basic cash receipts and disbursements with bank feeds, as well as easy invoicing and collections.
Look, your average self-employed person doesn’t need accruals and reversals or fixed assets (since they do sec 179), they need something that gets down on their level and helps them run the business as they see it. The accountant can make adjustments throughout the year and download the data if they wish to work with it in another app.
QBO and Xero are too much accounting for some small business owners. If you can’t or won’t use it because of complexity, it’s not the right tool.
Brian Tankersley is a technology speaker and consultant, writer, and analyst. CPA and recovering auditor. Brian is the owner of CPA Tech Blog.