Free Freelance Accounting Software

Fully editable. Send, print or download.

Free Freelance Accounting Software

Fully editable. Send, print or download.


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First Name
Last Name
Acme LLC.
First Name
Last Name
Corporation Corp.
First Name
Last Name
Acme LLC.
First Name
Last Name
Corporation Corp.

Free Freelance Accounting Software

Fully editable. Send, print or download.

Free Freelance Accounting Software

Fully editable. Send, print or download.

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Free Freelance Accounting Software
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Date: March 8th 2023



Acme LLC.

Corporation Corp.

This Contract is between Client (the "Client") and Acme LLC, a California limited liability company (the "Coach").

The Contract is dated January 23, 2023.


1.1 Project. The Client is hiring the Coach to develop a coaching relationship between the Client and Coach in order to cultivate the Client's personal, professional, or business goals and create a plan to achieve those goals through stimulating and creative interactions with the ultimate result of maximizing the Client's personal or professional potential.

1.2 Schedule. The Coach will begin work on February 1, 2023 and will continue until the work is completed. This Contract can be ended by either Client or Coach at any time, pursuant to the terms of Section 4, Term and Termination.

The Coach and Client will meet by video conference, 4 days per month for 2 hours.

1.3 Payment. The Client will pay the Coach an hourly rate of $150. Of this, the Client will pay the Coach $500.00 (USD) before work begins.

1.4 Expenses. The Client will reimburse the Coach's expenses. Expenses do not need to be pre-approved by the Client.

1.5 Invoices. The Coach will invoice the Client in accordance with the milestones in Section 1.3. The Client agrees to pay the amount owed within 15 days of receiving the invoice. Payment after that date will incur a late fee of 1.0% per month on the outstanding amount.

1.6 Support. The Coach will not be available by telephone, or email in between scheduled sessions.


- A coaching relationship is a partnership between two or more individuals or entities, like a teacher-student or coach-athlete relationship. Both the Client and Coach must uphold their obligations for the relationship to be successful.

- The Coach agrees to maintain the ethics and standards of behavior established by the International Coaching Federation (ICF).

- The Client acknowledges and agrees that coaching is a comprehensive process that may explore different areas of the Client's life, including work, finances, health, and relationships.

- The Client is responsible for implementing the insights and techniques learned from the Coach.


3.1 Overview. This section contains important promises between the parties.

3.2 Authority To Sign. Each party promises to the other party that it has the authority to enter into this Contract and to perform all of its obligations under this Contract.

3.3 Coach Has Right To Give Client Work Product. The Coach promises that it owns the work product, that the Coach is able to give the work product to the Client, and that no other party will claim that it owns the work product. If the Coach uses employees or subcontractors, the Coach also promises that these employees and subcontractors have signed contracts with the Coach giving the Coach any rights that the employees or subcontractors have related to the Coach's background IP and work product.

3.4 Coach Will Comply With Laws. The Coach promises that the manner it does this job, its work product, and any background IP it uses comply with applicable U.S. and foreign laws and regulations.

3.5 Work Product Does Not Infringe. The Coach promises that its work product does not and will not infringe on someone else's intellectual property rights, that the Coach has the right to let the Client use the background IP, and that this Contract does not and will not violate any contract that the Coach has entered into or will enter into with someone else.

3.7 Client-Supplied Material Does Not Infringe. If the Client provides the Coach with material to incorporate into the work product, the Client promises that this material does not infringe on someone else's intellectual property rights.


This Contract is ongoing until it expires or the work is completed. Either party may end this Contract for any reason by sending an email or letter to the other party, informing the recipient that the sender is ending the Contract and that the Contract will end in 7 days. The Contract officially ends once that time has passed. The party that is ending the Contract must provide notice by taking the steps explained in Section 9.4. The Coach must immediately stop working as soon as it receives this notice unless the notice says otherwise.

If either party ends this Contract before the Contract automatically ends, the Client will pay the Contractor for the work done up until when the Contract ends. The following sections don't end even after the Contract ends: 3 (Representations); 6 (Confidential Information); 7 (Limitation of Liability); 8 (Indemnity); and 9 (General).


The Client is hiring the Coach as an independent contractor. The following statements accurately reflect their relationship:

- The Coach will use its own equipment, tools, and material to do the work.

- The Client will not control how the job is performed on a day-to-day basis. Rather, the Coach is responsible for determining when, where, and how it will carry out the work.

- The Client will not provide the Coach with any training.

- The Client and the Coach do not have a partnership or employer-employee relationship.

- The Coach cannot enter into contracts, make promises, or act on behalf of the Client.

- The Coach is not entitled to the Client's benefits (e.g., group insurance, retirement benefits, retirement plans, vacation days).

- The Coach is responsible for its own taxes.

- The Client will not withhold social security and Medicare taxes or make payments for disability insurance, unemployment insurance, or workers compensation for the Coach or any of the Coach's employees or subcontractors.


6.1 Overview. This Contract imposes special restrictions on how the Client and the Coach must handle confidential information. These obligations are explained in this section.

6.2 The Client's Confidential Information. While working for the Client, the Coach may come across, or be given, Client information that is confidential. This is information like customer lists, business strategies, research & development notes, statistics about a website, and other information that is private. The Coach promises to treat this information as if it is the Coach's own confidential information. The Coach may use this information to do its job under this Contract, but not for anything else. For example, if the Client lets the Coach use a customer list to send out a newsletter, the Coach cannot use those email addresses for any other purpose. The one exception to this is if the Client gives the Coach written permission to use the information for another purpose, the Coach may use the information for that purpose, as well. When this Contract ends, the Coach must give back or destroy all confidential information, and confirm that it has done so. The Coach promises that it will not share confidential information with a third party, unless the Client gives the Coach written permission first. The Coach must continue to follow these obligations, even after the Contract ends. The Coach's responsibilities only stop if the Coach can show any of the following: (i) that the information was already public when the Coach came across it; (ii) the information became public after the Coach came across it, but not because of anything the Coach did or didn't do; (iii) the Coach already knew the information when the Coach came across it and the Coach didn't have any obligation to keep it secret; (iv) a third party provided the Coach with the information without requiring that the Coach keep it a secret; or (v) the Coach created the information on its own, without using anything belonging to the Client.

6.3 Third-Party Confidential Information. It's possible the Client and the Coach each have access to confidential information that belongs to third parties. The Client and the Coach each promise that it will not share with the other party confidential information that belongs to third parties, unless it is allowed to do so. If the Client or the Coach is allowed to share confidential information with the other party and does so, the sharing party promises to tell the other party in writing of any special restrictions regarding that information.


Neither party is liable for breach-of-contract damages that the breaching party could not reasonably have foreseen when it entered this Contract.


8.1 Overview. This section transfers certain risks between the parties if a third party sues or goes after the Client or the Coach or both. For example, if the Client gets sued for something that the Coach did, then the Coach may promise to come to the Client's defense or to reimburse the Client for any losses.

8.2 Client Indemnity. In this Contract, the Coach agrees to indemnify the Client (and its affiliates and their directors, officers, employees, and agents) from and against all liabilities, losses, damages, and expenses (including reasonable attorneys' fees) related to a third-party claim or proceeding arising out of: (i) the work the Coach has done under this Contract; (ii) a breach by the Coach of its obligations under this Contract; or (iii) a breach by the Coach of the promises it is making in Section 3 (Representations).

8.3 Coach Indemnity. In this Contract, the Client agrees to indemnify the Coach (and its affiliates and their directors, officers, employees, and agents) from and against liabilities, losses, damages, and expenses (including reasonable attorneys' fees) related to a third-party claim or proceeding arising out of a breach by the Client of its obligations under this Contract.


9.1 Assignment​. This Contract applies only to the Client and the Coach. Neither the Client nor the Coach can assign its rights or delegate its obligations under this Contract to a third-party (other than by will or intestate), without first receiving the other's written permission.

9.2 Arbitration. As the exclusive means of initiating adversarial proceedings to resolve any dispute arising under this Contract, a party may demand that the dispute be resolved by arbitration administered by the American Arbitration Association in accordance with its commercial arbitration rules.

9.3 Modification; Waiver. To change anything in this Contract, the Client and the Coach must agree to that change in writing and sign a document showing their contract. Neither party can waive its rights under this Contract or release the other party from its obligations under this Contract, unless the waiving party acknowledges it is doing so in writing and signs a document that says so.

9.4. Noticies.

(a) Over the course of this Contract, one party may need to send a notice to the other party. For the notice to be valid, it must be in writing and delivered in one of the following ways: personal delivery, email, or certified or registered mail (postage prepaid, return receipt requested). The notice must be delivered to the party's address listed at the end of this Contract or to another address that the party has provided in writing as an appropriate address to receive notice.

(b) The timing of when a notice is received can be very important. To avoid confusion, a valid notice is considered received as follows: (i) if delivered personally, it is considered received immediately; (ii) if delivered by email, it is considered received upon acknowledgement of receipt; (iii) if delivered by registered or certified mail (postage prepaid, return receipt requested), it is considered received upon receipt as indicated by the date on the signed receipt. If a party refuses to accept notice or if notice cannot be delivered because of a change in address for which no notice was given, then it is considered received when the notice is rejected or unable to be delivered. If the notice is received after 5:00pm on a business day at the location specified in the address for that party, or on a day that is not a business day, then the notice is considered received at 9:00am on the next business day.

9.5 Severability. This section deals with what happens if a portion of the Contract is found to be unenforceable. If that's the case, the unenforceable portion will be changed to the minimum extent necessary to make it enforceable, unless that change is not permitted by law, in which case the portion will be disregarded. If any portion of the Contract is changed or disregarded because it is unenforceable, the rest of the Contract is still enforceable.

9.6 Signatures. The Client and the Coach must sign this document using Bonsai's e-signing system. These electronic signatures count as originals for all purposes.

9.7 Governing Law. The validity, interpretation, construction and performance of this document shall be governed by the laws of the United States of America.

9.8 Entire Contract. This Contract represents the parties' final and complete understanding of this job and the subject matter discussed in this Contract. This Contract supersedes all other contracts (both written and oral) between the parties.



Acme LLC.

Corporation Corp.
Table of contents

Ideally, all freelancers need a professional accountant by their side. Either that or investing in learning the skill and adding it to the other skills they already possess. Freelance accounting is a skill that only freelancers, whom the law recognizes as self-employed and independent contractors – ought to do whatever they can to learn. At the beginning, you may not have the money required to hire an accountant. However, you should not hesitate to hire one, as your business grows bigger.

Freelancers will earn money. They will receive payments from every client they serve. It is a given that some clients may take off without paying a dime to freelancers. That is just the nature of the industry. Nevertheless, it is to the freelancer’s advantage to be as good an accountant as possible. Freelancers ought to appreciate the important role bookkeeping plays in their businesses. Proper bookkeeping skills will always stand as the main difference between a successful or not-so-successful freelancing business.

1. Why freelancers should care about accounting software

Freelancers should care about accounting for various reasons. These reasons are:

  1. It allows freelancers to enjoy a smoother experience with their accountants
  2. It allows freelancers to appreciate auditing
  3. It allows freelancers an easier time monitoring daily business tasks
  4. It teaches freelancers how to take charge and protect business assets when bad times strike
  5. It protects freelancers against the legal consequences of not caring

Freelance accounting is not an impossible skill to learn. Any freelancer can learn and excel at bookkeeping. The knowledge learned and acquired in this manner is not a waste. It does not go to waste. In fact, improving your accounting skills is a requirement for anyone who wishes to grow a successful freelance business. Accounting skills ensure that you run business finances remarkably well. Without these skills, your business could struggle financially. Worse is when you have no idea where the problems are thus unable to do anything to improve the situation. Having a software will also save you a lot of time from using an excel spreadsheet to track expenses.

Any freelancer who learns accounting will excel in the following areas:

  • Keeping track of incomes and expenses
  • Staying on top of all invoicing issues
  • Staying up to date with tax issues

Failure to learn to account could lead you into a hole from which you will find it impossible to extricate yourself. Accounting is not the sort of thing you prioritize the least. After all, the reason you work as a freelancer is to make money. You want to be your own boss. You want to make as much money as possible to take care of your family today, tomorrow, and during your post-retirement days. Do not postpone any accounting-related issue. Instead, spend time educating yourself on that issue, or simply hire an accountant.

2. Understand the basics of freelance accounting software

Part of the work you must do while improving your accounting skills is to understand the basics well. Some of the basics you have to learn to include the requirements for starting a freelance business; VAT; self-employment tax; national insurance; and, record keeping among others. Accounting classes will help you understand whether you are running a business or pursuing a hobby. Through the classes, freelancers will also learn more about business taxes, and selecting business structures.

Accounting is a never-ending pursuit. You cannot complete accounting in a day, a week, or a month. It is something you do every day as long as you run a freelance business, or any kind of business for that matter. Accounting is akin to the food you must eat every day to stay alive, healthy, and strong. Similarly, accounting helps your business to remain afloat, healthy, and stable. The fuel upon which your freelance business operates is accounting, which tackles everything to do with business finances.

Accounting involves taking or making note of everything you do, especially if it involves money. You cannot do well in accounting if you fail to keep or maintain a proper, detailed record of all business transactions. As you will learn, this often involves keeping all receipts for taxes in one file that is separate from all other business documents. Additionally, freelancers have to make a spreadsheet that contains all the relevant business information. The information herein refers to the following:

  • Date of invoices
  • Date of payments (both incoming and outgoing)
  • Service or product purchased or paid for
  • Amount involved in purchases and sales
  • Customer details

All the accounting lessons you learn should educate you on the importance of dates. Some dates of the year are more important to an accountant than others. For example, the end of year, especially the financial year, is one such date. The annual return date, tax returns due, tax returns due payments, tax returns due self-assessment are equally important too. The dates matter to the freelancer too. Therefore, keep track of these dates so you never fall foul of the tax bodies.

It is also good to know the dates when your invoices are due. Ensure that your customers also know these dates. Remind them via text messages, emails, and phone calls. Do not send out any invoice that does not indicate when payments are due. Similarly, know the dates when your suppliers expect you to pay for the products or services you bought on credit. This way, you will have no problem with your cash flow. Do not be the kind of freelancer who waits for reminders from suppliers.

3. Keep business and personal bank accounts separate in the freelance accounting software

Freelancers should maintain separate bank accounts for their businesses and personal use. This way, they will have a relatively easier time of keeping track of all their incomes and expenses. Failure to maintain separate bank accounts could lead to a complication or two. Business finances should be kept separate from personal finances. Avoid a situation where the two interact if you want to monitor your income and expenses easily. Doing this has the added advantage of making it easier for you to save money for tax purposes.

As all freelancers know, business is not always good throughout the year. Lean times always seem to follow bumper harvest. Droughts are never far from the season of plenty. That many people view freelancing as a “feast or famine” venture is not by mistake. For this reason, improving one’s freelance accounting is a good way of preparing for the good and bad times. Through excellent accounting skills, you will realize the importance of saving some money for the lean days. Do this and see the money you save take you through these difficult periods. It is highly advisable to save money that can cater for your expenses for at least two months. However, feel free to save whatever you can.

4. Seek professional help when using freelance accounting software

The fact your freelance accounting skills are getting better – if not excellent yet – doesn’t mean you no longer need help. Even accountants call out for help from their colleagues. Feel free to shout for help in case you come across an accounting problem you can longer handle on your own. Occasionally, you may jump from the frying pan right into the fire. When this happens, it would be better to ask for help instead of digging yourself deeper into the hot charcoal. Face the fears and facts that make your stomach to turn. Do not postpone anything that needs handling now. At times, you may need to meet with a professional accountant to iron out a few issues. Consider visiting the local tax office for assistance if your problems are tax-related.

5. Familiarize yourself with tax documents in the freelance accounting software

It’s also worth mentioning that part of the freelance accounting lessons will focus on some of the most important financial documents all freelancers must keep. You cannot manage your freelance financial tasks without coming across documents such as Form W-9, which you should know how to fill. Furthermore, you also need to know what Schedule C, which is part of Form 1040, is. It is possible for all freelancers to learn how to fill Form 1040 like a pro. The other important forms you have to know how to fill include:

  1. Schedule SE (Form 1040)
  2. Form 1040-ES
  3. 1099 Forms

It is important that you know all the freelance accounting best practices. What do you know about your tax obligations? Do you know what you should pay or are you part of the 52% of all American small businesses that have no idea what to pay? Lessons focusing on tax-related issues are worth learning if you want to find ways of reducing your tax burden. The lessons are simple enough to learn. For example, they require you knowing how to keep track of all your finances while maximizing tax deductions.

As previously stated, freelancers should be able to separate business expenses from personal expenses. Again, it is possible to learn this lesson while improving your accounting skills. The freelancer also has to learn what they can or cannot deduct from taxes. There is no harm in learning how to pay taxes either. Keeping accurate records and tracking all progress made – financially or otherwise – is an important part of running a successful freelance business. Importantly, they must also learn about utilizing and tracking business credit cards.

6. Invest in cloud-based freelance accounting software

Most freelancers have a lot of stuff running through their minds at any given moment. For this reason, it is a bit unfair to expect them to stay on top of all their accounting needs. In such cases, it would be a better idea for the extremely busy freelancers to invest in accounting software. Such software would also be an excellent choice for the not-too-busy freelancers. Cloud-based accounting is emerging as a mandatory tool for success in the freelancing world today.

Cloud-based accounting has several benefits, which include:

  • Automatic generation of important business financial forms
  • Syncing with bank accounts
  • Saving client information
  • Providing reminders for performing crucial tasks

Cloud-based accounting software also comes with the expert help and customer support you need. Evidently, it is tiresome to keep track of everything related to accounting yourself. You need help. It is difficult for you to set aside all the time required to familiarize yourself with the tax rules established for self-employed workers or independent contractors. You would need to set aside limitless hours and put in the effort required to be familiar with all these rules. Feel free to turn to these cloud-based freelance accounting tools when all else seem overwhelming.

7. Maintain an organized system with freelance accounting software

As you work hard to build on the little freelance accounting knowledge you already possess, you will learn other equally important lessons. One of these is the need for creating and maintaining an organized system. Without an organized system, you will struggle with bookkeeping. It will be harder for you to find the documents needed to follow up on a delayed payment, file your tax returns on time, or settle your debts. The best time to create the organized system is right when you start running the freelance business.

Talk to other bookkeepers and see what you can learn from them about organized systems.

Use recognized or tried-and-tested accounting systems. A new system enters the market almost every day. Granted, some new entrants in the freelance accounting market can do wonders, but it is better to go with what has already been in the market. There is no harm in trying out a new system if you feel it will be to your advantage. Plan your time well, so you are able to do the books at least once every week. Install the right software or hire the best accountant you can afford to keep everything running smoothly. As previously stated, accounting requires proper records. Keep records of everything you do, not only the financial documents.

For example, keep a record of the hours you spend on each project or client. Calculate how much each job, project or client costs you per hour. Calculate business expenses too. Calculate all the payments you have made, which should include the bank transfers too. Do not forget to keep a record of every payment you have received from your clients too. Good records could be the difference between profits and losses for your freelancing business. Good records help you to realize whether you are making any progress. Therefore, purpose to learn everything you can about freelance accounting from today.

Frequently Asked Questions
Questions about this template.

Which accounting program is best for freelancing?

Bonsai has the best accounting program for freelancers. Track your expenses, payments from clients, and also get access to our full suite of invoicing, proposal and contract templates.

What software do most freelance bookkeepers use?

Most freelance bookkeepers use Bonsai to manage their clients. Bonsai lets you track business expenses, set up tasks using a dashboard, record incoming payments, and better manage your finances.

Which is most demanding skill in freelancing?

Accounting and bookkeeping for taxes is a highly in demand skill for freelancers. The majority of businesses need expert tax advice to help avoid any legal troubles and save money.

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Free Freelance Accounting Software

First Name
Last Name
Acme LLC.
First Name
Last Name
Corporation Corp.
First Name
Last Name
Acme LLC.
First Name
Last Name
Corporation Corp.