Posts in Writing

How to Use Quickbooks Self-Employed as a Freelancer

When I decided to embark on a freelance career, I had dreams of cool client projects, a flexible schedule and being able to focus on the work that excited me most. But there was one big grey cloud hanging over my head. Finances. I was prepared to earn inconsistent paychecks, but I knew I was going to struggle more with tracking my income, expenses, miles and getting ready for tax season. A few month before I began freelancing full time, I started using QuickBooks Self-Employed* and it seriously made such a difference in organizing my finances. I’m going to walk through how to use QuickBooks Self-Employed to manage your freelance finances. It will make managing your finances way easier and hopefully save you a trip to the accountant, because you probably have way more interesting things to do. 

*Click here for 50% off Quickbooks Self-Employed for the next 12 months. That means you’ll have access to all the features I reference below for only $5 per month. This article is not sponsored, I sincerely use and recommend this product.

How to Use Quickbooks Self-Employed

Managing Expenses

When I first embarked on my freelance career, I did so while also working a full-time job because it sounded fun and it was nice to have a little extra cash coming in. Which is why when my first tax season rolled around, I was at a loss when it came to tax deductions. It wasn’t until I began using QuickBooks Self-Employed that I was able to successfully write off my expenses. This tool makes tracking your spending and miles so easy.

Tracking Spending:

This tool allows you to separate business and personal expenses, which is super helpful. I don’t bother with entering business expenses as soon as I make a purchase. Every other week I pop into the program and quickly mark my business expenses. For purchases that I need to break down by item, I use the “snap and store receipts” function to take a photo and properly store a receipt. Paper receipts pilling up in my file cabinets drive me absolutely crazy, so this has been a great solution for me. The program can actually pull the data from the receipt and either matches it to an expense or creates a new one. Very futuristic.

According to Quickbooks, “by categorizing transactions, customers may find potential tax deductions that could cut their tax bill by 36%.”

Tracking Miles:

You have to keep up on tracking your miles, no excuses. Trust me, it isn’t fun trying to tally up miles at the end of the financial year if you haven’t been keeping a reliable record. Now, I use the automatic mileage tracker that uses my phone’s GPS to track all of my mileage correctly. If I forget to use this function, it’s also super easy to add miles in manually. As long as you don’t forget how far your drove and on what date.

How to manage your freelance finances using Quickbooks Self-Employed.

Paying Freelance Taxes

Is there anything worse than filing taxes? Yes, filing freelance taxes. Oh wait, filing freelance taxes quarterly. I kid! It’s not that bad. But staying organized in advance really helps. There are a few aspects of this program that really helped me stay organized for tax season.

Preparing for Quarterly Taxes:

A friendly reminder about quarterly taxes never hurt anyone. And having Quickbooks Self-Employed estimate what you’ll owe quarterly really never heart anyone. As a freelancer or small business owner, your income probably isn’t super consistent. Having this estimate means you can set aside the proper amount of money and not be hit with any nasty surprises come tax time.

Sending Client Invoices:

Chances are not every client sent you a 1099 form. For those clients who didn’t, it’s important you know the amount of income you actually earned from them, that way you can accurately state your income. I keep track of my individual client income in a spreadsheet I’ll be sharing in the near future, but one way you can play paycheck detective is by looking at old invoices. QuickBooks Self-Employed let’s you create and send personalized invoices for free and informs you when your invoice is viewed and paid. Which will hopefully also make sure you never miss a payday from a disorganized, or untrustworthy, client.

***

This is a brief overview of how to use Quickbooks Self-Employed to help manage your finances, but of course everyone’s financial and business needs are different. I’d be happy to answer any questions about how I use the program.

Click here for 50% off the next 12 months. That means you can use Quickbooks Self-Employed for only $5 a month this year. It’s so worth the peace of mind in my opinion.

 

Disclaimer: I am by no means a financial expert. This is simply how I’ve found the program to be useful. And I hope you do too!

Latest Stories On: The Everygirl

The Everygirl.com is a one-stop shop for busy women. From fashion and beauty advice to interviews with inspiring women to intimate personal essays, this site has it all. Here are the stories I've contributed to this amazing site.

My Go-To Vegan Staples from Trader Joe’s

How to Maintain Work Friendships After You Leave The Job

How to Cope With a Friend Who Loves Drama

4 Ways Freelancers Overspend

How to Prep for That Performance Review (And Land a Raise)

10 Super Helpful Resources All Women Can Use

I Threw Out My TV—Here’s What Happened Next

How Much More Do Women Really Need to Save for Retirement?

The Secret to Erasing Brown Spots on Any Budget

10 Steps to Launching Your Business in 2019

I Couldn’t Shop for 3 Months and It Was the Financial Refresh I Needed

It’s 2019, Is It OK to Talk Politics at Work?

10 Tax Breaks or Benefits You May Not Be Taking Advantage of—But Should Be

6 Apps Successful Women Use to Stay Organized

15 Ways to Show Your Friends You Love & Appreciate Them on Valentine's Day

Not Being Paid What You Deserve? Ask for This Instead

Why I’ve Stopped Planning My Life

How to Save for Retirement on Your Own

8 Easy Ways to Get More Nutrients Out of Your Food

7 Ways to Be Less Forgetful This Year

How to Sneak Protein Into Your Meals

How to Boost Your Immune System Before Flu Season Rolls In

Break a Sweat: The Difference Between Yoga, Pilates and Barre Workouts

Why is Everyone Talking About Code-Switching?

7 Ways to Grab Readers' Attention With Your Homepage

Feeling Overwhelmed About Wedding Planning? Here’s Where to Start

Our Favorite Fashion Retailer Also Has the Best Home Decor

I Made the Switch to Vegan Products—Here Are the Ones I Can’t Live Without

How to Grow Your Own Food Even If You Don’t Have a Backyard

5 Reasons to Upgrade Your Website From a Free Site

Beauty Products That Work Better When You Sleep

20 Perfect Wedding Dresses for the Minimalist Bride

9 Classic Books to Curl Up With This Fall

Why Am I So Afraid of Conflict? A Therapist Weighs In

6 Apps That Can Help You Meet Your Savings Goals

A Quick Guide to Understanding & Improving Your Site Traffic

These Films and Books About Female Friendship Will Give You All the Feels

Why You Really Need to Set Friendship Boundaries at Work

How I Graduated College with 4 Job Offers

4 Money Lessons I've Learned from My Friends

The Everygirl’s Weekend Guide to Orange County in the Summer

Why You Should Be Revisiting Your New Year’s Resolutions

These are the Top Industries, Companies, and Roles for Remote Work

How I Consciously Transformed My Friendships

Why I Decided to Give up My Favorite Foods and Go Vegan

I Traveled for 50+ Days Last Year and This Is What I Learned

4 Ways to Avoid Getting Sick While Traveling

If You're Not Using These Amazon Prime Features, You're Missing Out

Non-Liquid Beauty Products You Can Toss in a Carry-On, Worry Free

16 Easy Hairstyles for Hot Summer Days

How to Defuse Conflicts at Work

6 Effective Workouts You Can Do in 30 Minutes or Less

10 No-Heat Hairstyles

Natural Remedies For When You Aren’t Feeling Your Best

Why You Need to Stop Skipping Your Lunch Break

No Neutrals Allowed: Rugs That Will Brighten Your Decor

20 Ridiculously Easy Recipes You Can Make With a Slow Cooker

The Best Apps for Planning Your Next Trip

10 Healthy Dip Recipes To Snack On

How to Build a Beauty Capsule Collection

How to Skip The Dry Cleaner

How to Avoid and Recover From Jet Lag

12 Decorations to Spruce Up Your Outdoor Space

Non-Caffeinated Ways to Wake Up

These Foods May Be Causing Your Skin Woes

DIY All-Natural Cleaning Products

8 Awesome Etsy Finds for Entrepreneurs

How to Make New Shoes Comfortable

8 Hearty Vegetarian Recipes for Meatless Monday

The Best Shows and Movies to Get You Through Your Downton Abbey Withdrawals

How to Recover From Pulling an All-Nighter

8 Face Masks You Should Always Have on Hand

How to Stay Focused When Working From Home

8 Delicious Breakfasts You Can Make the Night Before

5 Books That Will Give You a Creative Boost

Luxurious Beauty Products with Single Digit Price Tags

The Best Apps to Learn How to Meditate

The Google Hacks You’re Probably Not Using But Need to Know

The Best Online Workouts

5 Sneaky Ways Stress Affects Your Body

Must-Have Classics for the Professional Wardrobe

6 Smart Things To Do With That Raise

How Your Posture is Affecting Your Physical and Mental Health

10 Best Financial Podcasts to Follow

Natural Ways to Ease Your PMS Symptoms

Eat These Foods for Glowing Skin

Latest Stories On: Apartment Therapy

AT Media reaches 14 million unique visitors every month. I have contributed articles on a variety of lifestyle topics to ApartmentTherapy.com.

How Using a Piggy Bank Can Be a Legit Savings Plan

15 Surprising Stores Where Students and Teachers Can Score Major Discounts

Not Your ’80s Workout Videos: Ways to Get Fit Right in Front of Your Screen

New School: Where Smart People Look for Career Advice, Today

How to Take Your Beauty Sleep to the Next Level

Time for a Change? The Best Time of Year to Kick Off a Job Search

Easy Ways to Free Up More Room in Your Tiny Closet

5 Things Your Dog Does to Secretly Keep You Healthy

Have a Beautiful Year: Easy-to-Keep Beauty Resolutions

Take it Easy this Season: Fun, Festive and Inexpensive Ways to Enjoy Fall

Stop Getting Ripped off at the Grocery Store

Latest Stories On: Career Girl Daily

Career Girl Daily is a British publication that focuses on advice that every working girl needs to know.

How to Deal with Friend Envy

How to Work Smarter Not Harder

4 Steps to Cure Your Technology Addiction

6 Easy Habits When You Work on Your Computer All Day

Things to Consider When You Want to go Back Into Education

How To Become A LinkedIn Superstar

The 10 Most Important Career Skills That Will Get You Hired This Year

3 Ways to Set Yourself Up for a Successful Day

 

Latest Stories On: Career Contessa

Latest Stories On: Byrdie

A variety of stories on beauty, health, and wellness that I wrote for Byrdie.com.

 

This Dummy-Proof Highlighter Gave Me Candlelit Skin 

Rose: Hollywood’s New Favorite Lipstick Shade for Fall

This Serum Is Instant Gratification in a Bottle

The Polish That Changed My Nail Painting Philosophy

It’s Official—Faux Freckles Are Taking Over the Runway 

The Shimmer Oil That’s Permanently Extending My Summer Glow 

Move Aside, Nude Polish—Gray-Nude is the Next New Thing

Don’t Sweat It: This DIY Deodorant Actually WORKS

7 Instant Mood Boosters to Brighten Your Mid-Week Blues 

The Trick to Amanda Seyfried’s Elegant Braid

5 Workday Hairstyles That Will Last Beyond Your Nine-to-Five

The Best Fall Nail Colors for Every Skin Tone

You Won’t Believe How Much Rita Ora’s MTV Video Music Awards Mani Cost

The (Surprisingly Flattering) Lipstick Color That’s Taking Over Hollywood

The Overnight Mask That Healed My Skin

The Magic Nail Drops That Dried My Polish In 3 Minutes Flat

The Beauty Oils To Tackle Every Vacation (Or Staycation) Need

We Found The Exact Shade Of Megan Fox’s Perfect Coral Lipstick!

6 Serious Reasons Why You Need More Sleep

The Foundation That Made Me Cheat On My Highlighter

The BEST Hair Masks To Fix Dryness, Dullness, And More!

The BEST Frizz-Fighters For Fine Hair

7 Superfoods To Fix Your Summer Beauty Emergencies

I Found the Perfect 3-in-1 Hair Product for Summer

The Easiest Full-Coverage Concealer I’ve Ever Used