Mobile accounting for the self-employed

April 24, 2012

business

 

If you are self-employed then you will probably understand how difficult it can be to keep your business accounts updated. Life can get very stressful as an entrepreneur.

Image by: futureshape

There is always so much to do to keep the business running that accounting and record keeping gets pushed to the back of your mind!

Well you might be glad to know that even the HMRC agree that record keeping can be a bit complicated for self-employed people. They recently encouraged software developers to develop an app to help these people out.

The result is Earnest, a free iPhone app developed by FreeAgent. It helps those who are self-employed, or who run a very small business operating under the tax threshold, to track their income and expenses, and know how much tax they owe.

The app reflects the simple and intuitive design of FreeAgent’s main bookkeeping software  product. Some of the features allow users to see upcoming tax deadlines and dates with a “Tax To-do” list, capture and store image receipts using your iPhone camera, get alerted for important tax dates, categorise transactions by payment method, record cash and non-cash transactions, add notes to entries, record CIS deductions made on income, and back up your data by email. These features are sure to make Earnest an invaluable tool for small business record-keeping.

Ed Molyneux, CEO and co-founder of FreeAgent, said in a press release :

“Our hope is that very small businesses will receive the support they require from Earnest – and as they grow and start to require more in-depth features for their finances, their experience with the app will encourage them to ‘trade up’ to use FreeAgent. We’re essentially trying to create a hassle-free journey that small and early-stage businesses can follow when it comes to managing their finances and bookkeeping.”

You can find out more about Earnest over at the FreeAgent blog.

So will you be downloading the new earnest app? Perhaps you already use bookkeeping software and apps to run your small business accounts. Let us know by completing the poll below and leaving a comment.

 

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