Once I had a handle on the raw paperwork, I needed to get on top of my accounts. For many years, to keep costs down and simplify matters, I used an Excel spreadsheet for my accounts, much to my accountant’s annoyance. Though it worked for me on a day to day basis, I did end up incurring higher accountancy fees because of the amount effort he had to expend deciphering my handiwork. That was until I came across FreeAgent. This is a piece of online accounting software designed specifically for UK based freelancers and small business owners. I can easily track my expenses and time, send invoices, check my recent bank transactions, generate reports for my accountant and send HMRC the necessary RTI for PAYE when I pay myself amongst all the other usual accounting features, and all from one website. There’s even an iOS app which is brilliant for recording ad-hoc expenses.
Using these three simple tools has completely revolutionised my workflow and business practices. The simple fact that paperwork and accounts are no longer a chore makes coping with the day to day running of my business so much more agreeable.
FreeAgent for a sole trader runs at £19+VAT / month and for limited companies, it comes out at £29/month. Use this link for a 10% discount - http://fre.ag/44pstrah
Evernote is a multi-platform application that can be downloaded from evernote.com for free. Premium subscriptions are £35 annually.
The Fujitsu ScanSnap ix500 can be purchased for around £350 - Fujitsu ScanSnap iX500 A4, Duplex Wi-Fi Scanner
And there you have it. Do you think there is anything I could better? What tools do you use? Feel free to comment below and share.