When Micro-Businesses or Freelancers Should Hire an Accountant

When to hire an accountant

Micro-business owners and freelancers often do their own bookkeeping, but knowing when to hire an accountant can prevent financial problems and heartache in the future.

From managing their business finances to marketing, freelancers and small business owners like to roll up their sleeves and pitch in. Usually, they do so out of necessity, particularly when starting a business. They may not have the financial resources to hire an accountant or financial advisor. When starting out, or if their business is small or a one-person operation, the do-it-yourself route makes sense. The side-benefit of DIY is the experience and education gained. There are times, however, when hiring an accountant or financial advisor makes sense, too. Read more

Freelance Success and Financial Knowledge. What Successful Freelancers Know About Business Finances

Freelance success
One personal trait that successful freelancers have in common is attention to detail. They pay attention to all aspects of their business, including finances. While it may seem obvious, ignoring finances or having only cursory knowledge can mean the difference between success and failure.

You don’t need a degree in finance to understand some very basic things about your freelance business’s finances. You need to care, and, you should care. Some freelancers believe that because they can count the number of monthly clients they have on two hands, know them all by name, and “have a sense” of what they earn or spend monthly, that this is enough. That casual attitude will work for awhile, but in the long run, it’s very dangerous and could lead to financial calamity. Read more

Bookkeeping for Freelancers. The Real Value for Your Business

Bookkeeping software for freelancers

If you are like many freelancers, you probably don’t think that much about managing business finances and you may regard bookkeeping for freelancers as a necessary, but sometimes painful part of doing business. Beyond creating invoices and perhaps tracking expenses, freelancers may not understand the real value of using a bookkeeping application. It’s much more than bookkeeping.

What if I told you that doing your own bookkeeping could save you time, reduce the taxes you pay and increase profit? You might change your mind, then, because there’s something in it for you – above and beyond bookkeeping. Read more

7 Questions to Ask Before You Buy Small Business Accounting Software

Flare accounting software for small business on desktop, laptop and tablet

Choosing accounting software is often a matter of fit, flexibility and features. These “3Fs” may be different for each business owner, but one thing is for certain, it takes a little homework to find an accounting application that ticks the boxes for all three. As the following seven questions before you buy small business accounting software. Read more

How to Be a Successful Freelancer – Rough Guide to Survival in the Self-Employment Wilderness

How to be a successful freelancer
How to be a successful freelancer is a question asked by most people when they consider leaving their day job for self-employment. When you were first considering your freelancing career, you may have dreamt of the freedom of setting your own hours, working from home or your own small office, charting the course of your business, being your own boss. These are some of the main reasons one-time “cogs in the wheel” become freelancers. It’s a good life if you can make it work then keep making it work. The key to success is knowing how to survive. Read more

Get the Most from Your Small Business Accounting Software

Person using small business accounting software

If you are considering using or have already signed up for online small business accounting software, getting to know the application and its features will ensure you aren’t missing its real benefits. While you may have purchased an accounting application so you can easily do you own bookkeeping and invoicing, the real power is the insight accounting apps provide. Read more

Flare Cloud Accounting Latest Release: Financial Dashboard Enhancements and History

Flare Cloud Acccounting dashboard

We’re always thinking of ways we can improve Flare for small business owners – adding features and functionality that will make Flare Cloud Accounting even more useful to your business. Yesterday, we released enhancements to Flare’s financial dashboard and added update history to many input forms. Following is an overview of the changes. Read more

Still Using Financial Spreadsheets for Your Business? Why You Should Use Small Business Accounting Software Instead

Financial spreadsheet frustration

If you are using financial spreadsheets for your small business, you are not alone. There are many resources for free business templates on the web and people love free! While business spreadsheets aren’t “bad”, they do have drawbacks. Using small business accounting software is much easier, less expensive and less complicated than you might think. Read more

9 Mistakes Freelancers Make that Small Business Accounting Software Helps Solve

small business failure

Below is a list of common mistakes made by newbie freelancers (and many seasoned freelancers) that small business accounting software can help remedy. “Come on! Really?”, you might be thinking. “I’m a freelancer. I don’t need accounting software and how can accounting software ‘solve’ anything?”. Anything you can do to take control of business finances will “help solve” the common mistakes we’re about to delve into. Read more

Expense Tracking for Contractors. Benefits that Can Save You Money

expense tracking for contractors

If you are a contractor and you are still tracking expenses in your head or by keeping paper receipts, you may want to consider the effect this casual way of managing expenses may have on your business profits. Contractors are busy people! Your hours are consumed by the work you do and that means little time is left for what you may consider boring admin or paperwork. Tracking expenses, though, is a necessary part of learning to run your own business effectively. All contractors benefit from using a more formal expense tracking system. Read more