It doesn’t matter if you’re a freelancer, a lifestyle entrepreneur or a small business owner; it’s tough to keep everything in order while still making a profit. Many of us are both the boss and the employee, which means we’re doing most of the small tasks ourselves.
We could use all the help we can get when it comes to managing the finances, taxes and organizing the books. And if you’re like me, you’re always looking for ways to make and save money while spending less time working.
Since I’ve discovered Outright’s software, I’ve been able to do all this and more! Here are four ways I use Outright to stay on track and grow my freelance business.
1. Spend less time bookkeeping and more time making a profit
As a self-employed freelancer, managing my time is very important. Every day, I exchange my time and skills for money, which means if I don’t get everything done, I don’t get paid.
This is where Outright comes in and really helps small businesses like mine grow.
It helps me see who my loyal customers are, track payments, invoices and see how many sales I’ve made. All this keeps my business organized so I spend less time on bookkeeping and more time making a profit. Plus using technology like this is not only convenient, but can help us save money.
And let’s face it, that’s something we all want as small business owners, right?
2. Easily track profit and loss throughout the year
Of all the features Outright offers, I really like the profit and loss snapshot that’s displayed every time I log in online. It shows all the income and expenses and gives you a net profit for the year, quarter or month.
This has been instrumental for growing my business because I can see if my expenses are getting out of hand or if I need to increase my revenue for the month. Keeping a close eye on your net profit isn’t always fun, but it’s a crucial part of growing any kind of business.
And unfortunately a lot of small business owners and freelancers don’t take the time – or don’t have the know-how – to calculate their net profit. But with Outright, it’s simple to do, and easy to keep your bottom line in mind, so you can create higher profits year after year.
3. Takes the guesswork out of doing taxes
When you’re self-employed or run your own small business, it’s hard to accurately calculate how much taxes you’re going to owe at the end of the year. Thankfully, Outright’s has made this task almost obsolete.
With a few clicks, I can see what my estimated taxes for the quarter are and what my Schedule C will look like for the year. Even as a Tax Specialist myself, I prefer to use Outright’s software to take the guesswork and headache out of tax time. Because, like I mentioned, it gives me more time to focus on growing my business instead of stressing out during tax time.
Outright’s Bottom Line blog is super helpful, too. With tax updates and tips for small business owners and people with e-commerce stores, it’s easy to stay updated on all the changes. I used to be an avid eBay PowerSeller and I sell thrift store finds for a profit, so this is another great way I use Outright to bring in extra income.
4. Manage my money from anywhere, even on the go
Since I started my freelance writing business at the beginning of the year, I’ve traveled a lot for networking and conference events. Not only does this require being away from my home office, it means I don’t always have the opportunity to sit in front of my laptop to check payment status or send out invoices.
With the help of Outright’s mobile app, I can manage my income, expenses, check invoices and receive payment alerts, no matter where I am.
This is an essential part of my freelance business because I’m a lifestyle entrepreneur that needs to be mobile with my blogging and consulting. For this reason, I included Outright as one of the top five mobile apps for freelancers, which has already gotten thousands of shares.
It would be much more difficult to manage my small online business and stay organized without the help of Outright’s software, mobile app and other convenient features. And for an entrepreneur like me, Outright has played a vital role in keeping my business organized while helping it continue to grow.
Carrie Smith is the writer behind the Careful Cents blog where she helps people get out of debt and find a career they love. Her work has been featured on The Huffington Post, Lifehacker and Yahoo! Finance. Connect with her on Twitter @applecsmith.
