One of the key elements to becoming a successful freelancer and small business is to optimally manage work and deliver quality services to clients in a professional manner. One critical aspect of this is to manage expenses incurred on various client projects especially if they are being delivered simultaneously. Adopting a structured and disciplined towards tracking expenses can equip independent professionals and freelancers with a better control over their client accounts and provide the ease and convenience of reviewing these expenses as and when desired.
To aid freelancers, we have looked at a few tools that help keep an efficient track of expenses incurred. Most of these tools are free and permit the following:
Graphic summarisation of expense reports & bill generation for multiple clients
Ability to scan bills/receipts using an inbuilt scanner
Different tagging options for different heads of expenses
Tips on money management from online counsellors.
Linking & reconciliation of bank account transactions between due and received amounts
Ability to share budgets & projects with clients in advance to seek approval as well as set off /adjust payments with respect to the amount due
Customisation while generating bills to accommodate local taxes as well as maintenance of separate accounts for personal & business purposes
Reminders via email, SMS for collection of pending amounts & daily expense reports
Examples of a few such tools that are commonly used are:
Expenditure App: This is one of the best suited apps for freelancers with international clients. The key feature in this app is that one can enter the transactions on the screen of the app which shall automatically be converted into pre-set foreign currencies.
Expense Manager Free: This tool is of immense value for beginners as it offers easy management of small expenses. Offers budget tracking for both bank book as well as credit card for any repeated transactions.
Expensify: This app facilitates sync between the transactions done via credit cards/bank accounts and helps in maintaining a real record of expenses as and when occurred.
Background Verification is an important tool for professionals to strengthen their skill profile and for organizations to have greater comfort and confidence in hiring the right people as recent surveys have found that one in three resumes in India is falsified.
How it works?
If you are a professional,
You will see a tab reading “My Verification” on your dashboard. Clicking on that leads you to a form where you file in your request for verification. You can choose to get “Fully Verified” by opting for both employment/client and reference checks or get “Partially Verified” by opting for any of the two checks. Once the verification is successfully completed, your profile will have a badge featured at the top of your profile indicating that you are a ‘Verified’ professional.
Strengthens a professional’s skill profile and adds credibility by having future clients / companies hear from past ones!
If you are an organisation,
You will be able to see badges against the names and profiles of those professionals for whom background verification has been successfully done. For professionals who are not yet verified, you can opt for conducting their verification before or after contacting them for your assignment.
It will help you make more informed choices about the best professionals for an assignment. Profiles with background verification done, get listed higher, as it’s an important indicator of the authenticity of the profile