Let's kick this off with Xero, which has a free trial and then costs $19/month for a lot of accounting features and a dashboard that shows you an overview of recent sales, bills that are coming due and bank account balances. Xero can keep inventory, pay bills and track customer data with a CRM tool that links to Google Maps and Skype. The online collaboration feature let you work with an accountant without going to their office, and you decide what in your records to hide and show the accountant.
Xero has a lot of add-ons, too, but most pertain to larger businesses. Still, it's worth taking a look at.
Xero has tons of accounting features for a self employed individual, and beyond should your business grow. Log on and you'll see a dashboard with an overview of recent sales, bills that are coming due and bank account balances. There are modules for inventory, paying bills, and CRM for managing contacts with an automatic link to Google Maps and Skype, keeping a contact log and more. You can create depreciation adjustments, or use the online collaboration to work with an accountant to get this done (you control what other collaborators can see).
Xero offers many add-ons, but other than those for tracking time, most of the add-ons are more useful for businesses that are larger and not so much for the self employed individual. There are many financial reports included, and I counted over 25 of them.
The lowest cost option at $19 per month is very limited but adequate for many self employed individuals who work on just one or two projects a month, with support for only five invoices, five bills and the ability to reconcile 20 bank statement items per month. The next level up costs $29 per month and supports hundreds of invoices, bills and bank transactions. Add another $10 per month for multiple currency support.
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