The derivation of the term freelance is usually credited to Sir Walter Scott’s Ivanhoe, the medieval warrior whose lance was sworn to the service of more than one Lord. However, when Ivanhoe’s lance was made available to another Duke or Earl, it wasn’t done so free of charge. Like the mercenary knight of old, today’s freelancer is a self-employed specialist, who is free to choose which project or company he or she wishes to work for.
Freelancers (and independent contractors) hold a position that entails earning money by being hired to work on different and often difficult jobs for short periods of time, rather than a permanent job with one employer. They are usually hired on a project-to-project basis, and as professionals, work hard in order to preserve their reputation as experts in their field. For freelancers, “word of mouth” is crucial.
Modern freelancers have a number of advantages, including not having to work in a 9-5 office routine. Instead, they’re constantly working with new people, adding excitement and variety to the job. They also have an opportunity to start their own service-based business, choose their work schedule, and profit from a demand for their specialty. In the bargain, they get to pick companies they’d like to be associated with.
Some are drawn to freelancing because of the lifestyle it offers, including scheduling flexibility and a pursuit of personal interests. Freelancers in isolated geographic communities are able to obtain higher employment levels. Workers who’ve been laid-off and can’t find full-time jobs can also freelance. Many journalists rely on part-time assignments, and some students simply want to make ends meet.
The title “Independent Contractor” relates to a freelancer who’s identified with a company or temporary agency that resells his/her labor to a client or clients. Other freelancers use professional associations or websites to obtain jobs. Freelancing has become predominant in a number of professions including: writing, music, acting, computer programming, web design, political research, and film production.
However, freelancing isn’t easy; many freelancers have to find work by themselves. Moreover, they’re employed on an hourly or project basis, so there can be gaps between jobs. Although they are their own boss, they sometimes have to work during unconventional hours (mornings, evenings, or after midnight). Their salary is also variable, depending on their reputation, experience, and the number of hours they put in.
Current earning gaps favor men over women, however wage differences between male and female freelancers are gradually disappearing. Recent studies indicate more than half of all freelancers in the 30-50-year-old age group are women. These statistics are particularly relevant in the areas of writing, journalism, and editing, where the majority of freelancers are women, many holding college and graduate degrees.
One reason for this trend toward female freelancers is the attraction of being able to work at home on something you like. This is especially true for women with a family, who have to multi-task household requirements. Working at home places additional pressure on married women, who continue to bear the brunt of domestic chores and child care. In some cases, project deadlines can cause stress and anxiety.
In general, there are a number of drawbacks for male and female freelancers. Working at home can increase physical and mental isolation, which can lead to social and psychological problems. Moreover, freelancing is a precarious form of labor because it’s sometimes difficult to maintain a steady work stream. In addition to job insecurity, there can be on-going hassles with employers who don’t pay on time.
Compounding the possible lack of a job or steady income, freelancers don’t receive employment benefits including: pensions, sick leave, paid holidays, bonuses, health insurance, or corporate training programs. There’s are also web portals that attract low paying clients, while demanding ridiculously high standards. Thus, while freelancing can be extremely rewarding, it can also present serious challenges.
HOW CAN ACCOUNTING PRO HELP YOUR FREELANCING BUSINESS?
Accounting Pro is a care-based provider which specializes in book keeping services for small business contractors and freelancers. Our professional outsourcing services can free you from accounting headaches, giving you more time to master your freelance skills. You will receive one-on-one support from a team of licensed accountants and computer technicians who will be sensitive to any problems you may have.
At Accounting Pro customer bonding goes beyond simple number crunching. Our on-line software makes it possible to assign book keeping tasks to a designated agent. We can down load reports, and chat almost instantly about any accounting issues you may have. Moreover, your portfolio will not be re-outsourced to another firm. We take great pride in maximizing the time and effort devoted to our freelance customers.
Some of the online services Accounting Pro has provided to freelancers include: manual and construction job cost accounting, payroll options, suggestions on building a work-at-home business, formatting financial reports, cash flow management, accurate and timely freelance information, and monitoring ledger entry processes. Our professional staff has the experience to support entrepreneurs like you.
When dealing with our freelance customers in Ireland, the U.K., and the U.S., Accounting Pro is primarily concerned with:
– Recording receipt transactions
– keeping job/project records
– analyzing freelance information
– organizing credit card accounts
– add-on freelancing expenses
– inventory accounting
– invoicing and bill paying
Accounting Pro provides information on resources available to the freelancer, the means employed to finance those resources, and the results achieved through their use. We use a systematic process of identifying, recording, classifying, verifying, and communicating financial data. This process reveals gains or losses for a given period, as well as the value of the freelancer’s assets and liabilities.
Our teams of qualified accountants cater to the needs of new freelancers and independent contractors. Their on-line management techniques will automate and connect your bank and credit card accounts to make sure all your income and expenses are accounted for and properly categorized. Accounting Pro can also connect an app to pay your bills on time, instead of spending hours on data entry.
A dedicated Accounting Pro agent will be watching your back to ensure there’s no nagging, unresolved book keeping issues left behind as you move from one project to another. Monthly financial statements and expense overviews will explain your current financial status. “At-a-glance” visual reports will also keep you up to date with your finances, enabling you to take actionable freelance initiatives.
Accounting Pro could save you days or even weeks of distracting, time-consuming accounting work. If psychological relief is factored in, signing on to our program could be priceless. You’ll be pleasantly surprised at how little time it takes our skilled team to clean up your books. Spending less time on accounting problems means more time for you to focus on new freelancing opportunities.
Accounting Pro specializes in providing back-up support to early stage freelancers. Our centralized (“all-in-one”) system is made to order for unorthodox situations. By using virtual accounting services, we provide exactly what’s needed to fit into freelance budgets. Moreover, our traditional methods of categorizing expenses, paying bills, and reconciling credit card statements are easy to understand
Freelancers who are constantly on the move due to multiple job or contract requirements like having all their data under one roof. With Accounting Pro, there’s only one point of contact who personally manages your account and is familiar with your financial requirements. This eliminates the problem of calling a customer service representative who knows nothing about you or freelancing in general.
To make sure your records are organized and complete, Accounting Pro utilizes modern “Cloud” software to increase automation and minimize manual data entry. Routine processes and work flows are followed to meet accounting standards. As a freelancer, you have enough to worry about. Allow us to handle your books; you’ll have plenty of time to meet deadlines and find new contracts.
Whether you’re an independent contractor working for a large corporation, a construction engineer employed on a small site, a freelance writer, or housewife who wants to earn a little cash on the side, consider joining Accounting Pro. We were recently nominated as one of the top accounting firms in Ireland and have the expertise to make your book keeping problems disappear.