New York, Dec. 13, 2024 (GLOBE NEWSWIRE) — Xero, a leader in online accounting solutions, has been named the best accounting software for self-employed individuals in 2024 by Better Business Advice. This recognition highlights Xero’s dedication to addressing the unique financial management challenges faced by freelancers, sole proprietors, and contractors. To make it easier to get started, Xero is offering 90% off for six months when you sign up—no promo code required.
Best Accounting Software for Self-Employed
- Xero — an intuitive online accounting platform designed to help self-employed professionals efficiently manage expenses, invoices, and financial tasks
Managing finances as a self-employed professional comes with distinct demands, including tracking expenses, invoicing clients, and ensuring compliance with tax regulations. With the growing number of individuals turning to self-employment, the demand for efficient, user-friendly accounting tools has increased significantly.
Xero’s intuitive platform meets this demand by providing powerful features that streamline financial administration, allowing users to focus on their business growth.
What sets Xero apart is its ability to simplify complex accounting tasks while offering flexibility for users to manage their finances anytime, anywhere. Through its cloud-based platform, Xero enables self-employed professionals to claim expenses, set up bank feeds, and collaborate with their accountant or bookkeeper seamlessly. Designed for freelancers and small business owners, the software’s ease of use makes managing financial tasks a breeze.
According to Better Business Advice, “Xero excels in delivering a streamlined accounting experience tailored to the needs of freelancers and sole proprietors. Its robust features and accessibility make it a top choice for self-employed professionals.”
Comprehensive Tools for Sole Traders, Freelancers, and Contractors
Xero offers comprehensive tools that address the key needs of sole traders, freelancers, and contractors. Its online invoicing and quoting feature allows users to send up to 20 invoices and quotes each month under the Xero Growing Plan, with the option to upgrade for additional capacity. Users can also customize invoices by adding their logo and provide customers with various payment solutions to enhance their business operations.
Managing bills is equally straightforward with Xero’s tracking and scheduling capabilities, which allow users to monitor due dates and plan payments effectively. This ensures better cash flow management and reduces financial stress. For those who need flexibility, Xero’s banking reconciliation feature connects directly to users’ bank accounts, enabling real-time tracking of cash flow. Transactions can be reconciled on the go, making it particularly beneficial for mobile professionals.
Moreover, Xero integrates with Hubdoc, a tool that automates manual tasks by extracting key details from bills and receipts and transferring them into the accounting platform. This feature not only saves time but also minimizes errors, further streamlining the financial management process. Xero’s compatibility with a range of apps also provides users with access to additional tools that cater to the unique needs of self-employed individuals, from time tracking to inventory management.
The increasing shift toward self-employment and solo entrepreneurship highlights the growing need for reliable accounting tools that cater to the specific demands of this workforce. From freelancers in creative fields to contractors in technical industries, managing finances has become a critical component of sustaining and growing a successful business.
Xero’s comprehensive solution not only addresses these needs but also supports the broader trend of professionals seeking autonomy in their work. By simplifying financial management and providing flexibility, Xero empowers self-employed individuals to thrive in an evolving economic landscape where time, accuracy, and efficiency are paramount.
For more information about Xero and its features, visit Xero’s website.
About Better Business Advice: Better Business Advice is a business advice website dedicated to helping businesses succeed. As an affiliate, Better Business Advice may earn commissions from services mentioned in the links provided. The information provided by Better Business Advice does not, and is not intended to, constitute legal advice; instead, all information, content, and materials are for general informational purposes only.
Contact: Drew Thomas (press@betterbusinessadvice.com)
