QuickBooks seeks to better serve entrepreneurs
If you are self-employed, you know the pain of attempting to figure out and file your taxes. There are loads of bookkeeping and tax software programs available, but where do you start? Some programs are simple too in-depth for freelancers and contractors, while other do not offer enough.
Intuit is well-known for their Quickbooks program, but for the causal user, it can seem like a bit too much. However, Quickbooks has launched a new, no-frills version called, Quickbooks Self-Employment. I was pretty excited about this, at first because I like keeping track of my finances, but having found a program that I just love yet.
However, I do not think Quickbooks is for me and here’s why:
I downloaded the free-trial for independent contractors. Right away, there’s something I don’t particularly like: my bank account, credit card, and payment history is all entered and stored online.
In previous versions of Quickbooks, you download a program and use it offline. Granted you have to enter each transaction manually, where the online version allows for syncing; the offline version always seems “safer.” But this may just speak to personal preference, rather than an actual issue.
Another oddity: no way to invoice. Wuut?
It also seems rather odd that the independent contractor version doesn’t allow you to invoice. So, you’ll have to keep track of your invoices with a separate program, which could be a bit frustrating constantly toggling between programs to get numbers and dates.
What the program does for you is: estimate your quarterly taxes, help you keep track on income and spending, create tax-ready reports, and assist you in maximizing your tax deductions (like home office and mileage). If you have been an independent contractor for any time at all, chances are you have already figured this out, if not, Quickbooks is very efficient at doing the math for you.
Not for me, but might work for you
Quickbooks is not for me because I already have a system in place that works for me, but here’s who I think it would be good for: freelancers, contractors, and solo-preneurs who need assistance in keeping their business and personal expenses separated and defined.
Quickbooks makes it easy to see what was spent where, and how you can trim these areas if needed. If you are not currently using an accounting program, or tax professional, Quickbooks is worth a look, even if you just take a peek at their free-trial.
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