Bookkeeping is one of the most important and potentially stressful parts of running any business. It doesn’t matter if you’re a fresh-faced freelancer or a heartless multinational corporation, if your business income and expenditure isn’t properly accounted for then you can end up spending many a sleepless night frantically shuffling through a years worth of receipts and invoices, hoping to somehow balance everything inside a spreadsheet. Worse still, you risk fines and penalties if you don’t properly calculate your taxes.
Even knowing the above, the word “bookkeeping” immediately evokes mundane thoughts of dusty offices and leather-bound ledgers being thumbed through by monocled gentlemen in pinstripe suits. It’s difficult to get excited about taxes and spreadsheets, isn’t it?
Fortunately, bookkeeping doesn’t have to be mundane. After spending some time with FreeAgent, it’s actually — dare I say it — fun!
Keeping track of accounting is an important task, and taking care of your books regularly can prevent your business from going under. Gone are the days when you have to hire a full time accountant or be at the mercy of a pricey chartered accountant.
With advent of web 2.0, there tons of web apps that make you an accounting wizard and FreeAgent is one among them. Does it really free you from the horrors of accounting? Let’s take a look.