The Freelancer Club Blog

BOOKKEEPING FOR FREELANCERS

Most of the freelancers we know would rather gnaw off their left arm than do their bookkeeping - and with good reason. It’s confusing, it’s boring, and it’s not what you signed up for. You became self-employed to spend time doing what you love - not wrestling with spreadsheets. But, like it or not, accounting is important as a way to understand your business finances and a legal requirement! Thankfully there’s a simple way to not hate bookkeeping. Let's address the accounting spiral of doom.

HOW TO DEAL WITH LATE PAYMENTS

It’s rare to meet a freelancer who hasn’t had to chase a late payment or had issues with a client who refused to pay. It impacts cash flow, is detrimental to the freelancer’s well-being, and is highly time-consuming. Freelancers don’t want to jeopardise the client relationship with threatening emails or, worse, spend time in the Small Claims Court. So what's the answer? When Solna, a smart invoicing App, got in touch, we jumped at the chance to ask their advice.

WHAT EXPENSES CAN I CLAIM?

If you think expenses sounds like a fancy word that’s only swung about in big businesses, you’re wrong. As a freelancer (sole-trader or limited company), no matter the size of your business, you’re eligible to claim expenses too. Expenses are a purchase related to your business that is often made using your personal money or business bank account. The rules for claiming expenses depend on whether you’re a sole trader or limited company.

NO MONEY, BIG PROBLEMS

The rewards of freelancing are highly appealing. Flexible hours, plenty of travel, more time with the kids and doing something you actually like to do every day. It all sounds pretty great! If only we didn't have to pay the bills. The pressure to make enough money is a constant companion for a freelancer and an area many prefer to simply ignore.

SETTING FREELANCE RATES AS A GRAPHIC DESIGNER

Setting your graphic design rates is no easy task. It’s something that stops most freelance graphic designers in their tracks. Especially for freelance rates, graphic design has some nuances that should be considered. Whilst using conventional freelance rates calculators may provide a loose ballpark figure, it can often be way off the mark. Here is our guide to help you find your true worth and hit that pricing sweet spot. 

SELF ASSESSMENT TIPS FOR FREELANCERS 2016

No sooner have you settled back into work after a festive break do you have to take care of your Self Assessment. 31st of January is the cut off point in case you missed the billboards dotted around the UK and there is a £100 fine if you miss the deadline with an additional £10 per day for 90 days thereafter. To make the process as painless as possible we've put a checklist together for you to follow.

CALCULATE YOUR HOURLY BOTTOM LINE

What you are worth and what your bottom line is are two very different things. The main difference is that the former relates to your value while the latter is a calculation to determine what you need to charge in order to sustain your current standard of living. The beauty of this little bottom line formula is that you can adjust it to find out what you need to charge per hour to live what to charge to achieve the life you'd like to live.

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