There are approximately 1.1 billion freelancers working globally, according to a June 2020 report. Freelancing has become more prevalent in recent years, and it has become especially useful in the chaos of 2020.
If you are apart of the billion freelancers in the world, you’ll know how many benefits there are to it. Working wherever you want, whenever you want, most notably. However, there are a few disadvantages, such as having to track your income and do your own taxes. Keep reading if you’d like to learn about how you can incorporate an income tracker into your freelance work-life.
Use Google Sheets
Utilizing Google Sheets is a smart way to track your income because it’s free and easy to use. You can tailor it however you want and get as detailed as you like. You can do it by week, month, year, and by each client or project you get.
You can also incorporate your taxes and business expenses to have everything in one place. If you have trouble tracking your expenses, try taking a picture of your receipts to log later. Then, put it into your Google Sheets whenever you’re tallying it up. There’s an app for it, too, so you can access it anywhere.
Create Your Own Paystubs
When you have a traditional 9-5 office job, you usually get a weekly or biweekly pay stub that lays everything out on paper for you. You don’t get this benefit when freelancing, but it’s easy to create your own pay stubs if you know where to look.
Using a check stubs maker can help with managing your income and taxes, and allow you to provide proof of income if need be. You’ll have a record of your income and be able to reference it whenever you like, knowing that your information is accurate.
Paypal is a great resource to use when wondering how to track your income. You can use it to track all your expenses. If you put it all in one place, you’ll have a complete log of everything you bought.
Paypal also has an excellent invoice tool. They charge a small fee, but it’s worth it for how easy the invoicing feature is to use. You can have all your expenses and invoices together, and they make it easy during tax time to access it.
Freelance Income Tracker
If you’re freelancing and worried about your finances or tax time, you don’t have to worry any longer. Getting ahold of your situation is the first step. Using a freelance income tracker can help you understand exactly what you make and what you owe, so you never have to think about it again.
You can also consider using all of these income trackers to cover all aspects of your work. Try them out and see what works for you! Then, check out more of my articles to learn something new today.