For those of you that aren’t freelance accountants, the finance side of freelance can be confusing. Xero cuts through the nonsense and makes it easy it send invoices, balance your bank accounts, file taxes, and even start payroll and direct deposit.
You can input your clients details for easy invoicing and billing later. If they have Xero, accounts, you can link it for even easier billing.
You can create and send invoices straight from Xero. You can connect your Xero account to Bill.com to collect payments online. You can view each client to see all their invoices, paid and unpaid. You can also send them a list of what they have paid for tax purposes.
Balancing your bank account
Simply login to your bank account to sync them to Xero. You can even balance your accounts on your phone with the Xero app. You can sort each item by type like Sales, Owner’s Contribution, Office Supplies, etc. This makes it easier during tax time to write off business expenses. Also Xero is a write off.
With the premium membership, you can even file taxes, quarterly or yearly, straight from Xero.
Payroll and Direct Deposit
With the premium membership to Xero, you can set up payroll and direct deposit with just a few clicks. You can pick pay periods, wages, and so much more.
We highly recommend this for freelancers. We don’t make any money if you start using this software, we just love it and want people to be legitimate with their finances and taxes. they have lots of tutorials to get you started.