Accountants For Freelancers

Are you a freelancer? If so, you know what it’s like to work to tight deadlines. In fact, we bet you’ve worked into the early hours on more than one occasion. 

Freelance work can be fast-paced and competitive, with the thrill of securing and delivering projects a key motivator. But there’s something important being lost in all of this – and that’s the accounts.

Whatever the nature of your business, as a freelancer you have accountancy commitments which cannot be avoided. If you’re finding yourself without the time or energy to do your own accounting, don’t panic! This is where QAccounting come in. 

Do freelancers need accountants?

A freelancer is a self-employed individual who carries out shorter-term projects on an ad-hoc basis for various different clients.

Despite the amazing flexibility freelance work offers, freelancers don’t get the same perks salaried employees do. These include job stability, regular hours paid leave and a predictable workload. Also, freelancers don’t benefit from PAYE automatic tax deductions, so must manage their own tax liabilities. 

It’s all too easy for freelancer accounts to fall by the wayside. The very nature of freelance work means that when a job comes in, you work full-tilt to get it completed for your client. Personal financial admin and hours staring at spreadsheets just don’t seem a priority when you’re making money doing something you’re good at.

As a result of this, many freelancers find themselves falling behind with bookkeeping and struggle to complete their annual accounts. This can be very stressful, especially when HMRC penalties and late fees start to come into play.

This is precisely why it’s recommended that every freelancer enlists the help of a good accountant.

Why choose QAccounting for your contractor accounting?

We’re experienced

At QAccounting, this is what we do. With two decades’ experience in accountancy, we are an award-winning online accountancy service specialising in freelancer accounting, small business accounting and self-employed tax management. 

We have helped thousands of self-employed clients just like you with everything from Self-Assessments to payroll and salary planning. 

We’re straightforward

We don’t bamboozle or patronise our clients with jargon. We work with our clients side-by-side, taking the hard work out of their accounting needs while being a trustworthy, useful sounding board for any question they can throw at us. 

We’re consistent 

At QAccounting, your monthly package with us will include a dedicated account manager who will take the time to listen to you, and understand who you are and what you do. 

Your account manager will be your single point of contact at QAccounting – you won’t find yourself talking to a stranger when you call us. Your account manager will be responsible for you and your accounts – so they’re the person you’ll deal with during your entire time with us. 

We’re experts

You’ll also benefit from a specialist accountant with plenty of experience in freelancer accounts. We don’t just deal with businesses – we have plenty of freelancers from the part-time hobbyists to those running larger enterprises with staff.

We’re affordable

We believe that every self-employed individual should have access to a good accountant. Our pricing is fair and transparent, with a fixed fee package tailored to your exact requirements. With QAccounting, you won’t pay for services you don’t need.

Accountants for freelancers

So, what can QAccounting offer our freelancer clients?

Here are some of the tasks we cover:

Bookkeeping 

A vital part of self-employed accounting, bookkeeping involves tracking what’s coming in and going out of your business finances. Bookkeeping is also a legal requirement and must be up-to-date and accurate in case HMRC comes calling.

QAccounting make it easy for our busy freelancers to keep the books updated on the go, with a streamlined bookkeeping solution from industry leaders Xero, whose cloud-based accounting platform makes bookkeeping a breeze.

Expenses tracking app

We offer all our clients use of our unique in-house expenses tracking app. This function allows you to take photos of receipts for instant upload and categorisation, meaning you won’t be struggling to unpick bank statements to find out what you’ve used for business purposes come year-end. 

Self-Assessment

All freelancers must complete an annual Self-Assessment. This involves logging all of your untaxed income, as well as declaring any grants or support payments, and correctly identifying all expenses related to your employment. 

It’s easy to make mistakes on your Self-Assessment and pay the incorrect amount of tax as a result. 

QAccounting can prepare your annual Self-Assessment on your behalf, ensuring your information is correctly reported and you never miss a deadline.

Invoicing 

Freelancers often juggle several projects at once, which can spell disaster for orderly invoicing. QAccounting offers our clients automated invoicing through the user-friendly Xero software, meaning you can send instant invoices to your clients with the tap of an app without needing to go through the clunky process of filling out a word document every time. You can track your invoices, too, with automatic reminders sent out ensuring you’re paid on time.

VAT

Some freelancers are VAT-registered, which brings with it enhanced reporting requirements. Each quarter, HMRC will expect a VAT return, which can be confusing and time-consuming to keep on top of. We will process your VAT returns and keep HMRC in the loop on your behalf – meaning you don’t have to spend time preparing them every three months. 

Annual accounts

If your freelance enterprise takes the form of a limited company, you’ll need to prepare and submit a set of accounts to Companies House and HMRC every year. Annual accounts include things like financial statements, audited records, balance sheets and a profit and loss account. It can seem daunting, but we are the experts in doing just this – so you can rest assured that your annual accounts will be taken care of.

Payroll

It’s a myth that freelancers can’t hire staff. If you’ve got any employees, including subcontractors under the Construction Industry Scheme (CIS), you’ll have to run a regular payroll. From tax codes, deductions, pension contributions and benefits – QAccounting can handle it on your behalf.

So, if you’re a busy freelancer, it makes sense to outsource the time-consuming, tricky stuff to a trusted partner – that’s us! 

Give QAccounting a call today. Our friendly, expert team will guide you through our packages and help you decide which level of support is right for you.