Bookkeeping tips for freelancers | FAQs

2 minutes   |  CAREER ADVICE, FINANCE

As a freelancer, manning your own finances can be daunting but it’s vital if you’re working without a designated chartered accountant. Worried about managing your books and want some bookkeeping tips on how best to implement professional accounting in your own business or as a freelancer? Looking for an online bookkeeping course to help you get the skills you need to succeed?

Watch this short video featuring Gareth Cotten, Head Tutor on the online Bookkeeping course from UCT, as he explains how effective personal bookkeeping is vital to starting and running a freelance business.

It’s important that as a freelancer, you make the best of these bookkeeping tips if you want to ensure your financial management is in order and that your business is able to succeed without hiccups. For small business owners the key to bookkeeping is to differentiate between what is personal expenditure and what is business expenditure. Making the distinction and then ensuring that you keep track of all of those things you can claim, will help you to improve your approach to bookkeeping as a freelancer or entrepreneur.


Want the bookkeeping skills to ensure nothing goes wrong in your accounts?

Register now for the online Bookkeeping course from the University of Cape Town.


Transcriptions

One of the major differences between this and working for somebody else is the fact you are going to be spending a lot of your own money on things which are kind of in the balance between personal expenditure and business expenditure. So, even if you are spending money that might seem like personal expenditure, say for example, fuel in your car, if you are using that to get to a client or to go and do the work which you are currently billing for or invoicing for, remember that you might be able to claim that. So, as a freelancer or working for yourself, you want to keep slightly more invoices and keep a better track of what you are actually spending as you may be able to claim that for your own expenditure.