In the fast-paced and ever-evolving landscape of the freelance creative industry, artists, writers, designers, and other talented professionals often find themselves juggling not only their creative endeavors but also the complexities of managing their finances.

From tracking income and expenses to navigating the labyrinthine world of taxes, creative freelancers face a unique set of challenges when it comes to financial management.

Fortunately, the digital age has ushered in a wealth of innovative tools and software designed to simplify the financial aspects of freelancing. In this article, we’ll explore seven of the best banking, accounting, and tax tools specifically tailored to meet the needs of creative freelancers.

Coconut

If you haven’t heard of Coconut, get ready for your life to change. Coconut is an account that does your tax return for you, captures your receipts and even sends invoices for you. Yeah, sounds almost too good to be true, right? Well, it’s real and you better believe it baby.

Also, it’s been specifically designed for freelancers and self-employed people. Coconut even highlights when invoices are overdue, automatically rearranging the important ones to appear at the top of the list. Say hello to anxiety-free invoices and money managing in one simple app!

LastPass

This one isn’t specifically related to money but essentially helps you remember all your passwords which, as we are all aware, comes in very handy when managing different accounts. LastPass is merely a secure service that remembers all your passwords, so you don’t have to; you have to remember one, master password, and you can access all the rest. A great stress saver, freeing up your brain to remember other things than just hundreds of random passwords.

Anna

Let’s get straight to it. Anna’s AI assistant pays and sends invoices via emails and then, upon the users’ receiving of the invoice, they can forward the details onto Anna, which will prepare any payment instructions and fill in information like surnames and sort codes so that the payment is ready to be made whenever needed.

FreeAgent

FreeAgent is specifically for British freelancers – so tailor-made for us right here! Voted the UK’s number one accounting software for small businesses, FreeAgent can send recurring invoices, offers expense tracking, which can be particularly helpful when it comes to the daunting matter of paying tax; it then can help you with that tax return; set up automatic bank feeds; and has comprehensive bookkeeping software.

Mint

Essentially a perfect budgeting app, Mint creates budgets, tracks your credit score and expenses and pays your bills. You can then view all that data in a host of clear, handy ways (by category, month or year). 

TaxScouts

Nobody likes doing taxes. They’re Complicated and the tax jargon is just meh. TaxScouts help creative freelancers and sole traders by sorting their tax returns. Move away from the stress and worry of making mistakes, TaxScouts provides you with an accredited accountant to do your Self Assessment, answer all your tax questions  and take it off your plate.

We hope these banking tools are useful for the self-employed among us to manage our businesses. Happy admin! 

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