Accounting Made Easy and Accessible
In the modern world, the way self-employed individuals can manage their finances is changing. In the past, accounting software would be in the form of Sage accounting or an Excel spreadsheet, only accessible on a desktop.
Nowadays, with technology evolving, accounting software is available on mobiles and tablets in the form of apps. This means that individuals can update their finances on the go.
One such accounting app is called ‘Quickbooks Self-Employed’. This app provides a simple way to separate personal and business transactions, create and send invoices, track mileage and keep up to date with taxes. Here are our thoughts on the software.
Downloading the software was easy, as was the initial set up. Basic details such as name and email were needed to sign up, then it was straight to the dashboard.
The dashboard is clear and includes essential figures such as business profit, business mileage and take home pay. You can then easily navigate to different sections using the tabs at the bottom of the screen.
Exploring the Sections
On this page, you first must connect your bank account to the app. This is a simple three step process: choose bank, enter information, then connect.
Once your bank is connected, you can upload your transactions into the app and then categorise them as personal or business. We found this to be a quick and easy way to keep track of income and expenses. It can be done on the go and avoids spending hours manually entering transactions.
This section allows you to create, send and save drafts of invoices. All you have to do is: input your contact information, the recipient’s details and a description and amount. The invoice is then created and can be sent. This is a highly efficient way to send invoices.
We found this to be a handy feature. The app can track how many miles you do each day, so you can keep track of your mileage expenses. Turn on your location services and you’re good to go!
At the end of the year, when your HMRC self-assessment is due, the app can create one for you based on the information it holds. This can save a lot of time and stress. All it requires is the click of a button, we liked the simplicity off this.
Stand Out Features
The user interface is very easy to use on phone, tablet and desktop. It is designed to be simple and quick to use as most people will use the software on mobiles.
Notifications can be set up for important events such as new transactions, tax reminders and new blog posts. We think this feature is a clever idea as it means you can stay on track with all key dates and events.
Help and FAQ’s
This useful feature provides an FAQ section containing helpful articles, and an option to send a message if the articles do not help. There is also an option to give feedback, enabling you to suggest improvements for the app.
This feature enables you to take photos of receipts and attach them to the corresponding transaction. This is great as all receipts can be stored on the app, meaning you can avoid endless receipt storage.
This is an extremely useful app for keeping track of income and expenses on the go. It is well designed and very easy to use. Whilst it does not have all the features of the desktop version (e.g. reports), the services it has are great.
The 30-day free trial is a bonus, however after this expires it is £5.99 a month. Considering the many features available and the time it will save you, we think it is worth it.