But freelancing comes with its own share of challenges. Besides the client work alone, you also need to take care of your accounting. This is where bookkeeping software comes into play, and AND.co is one of the various options available to you.
Keep reading to discover more about AND.co and how it can improve your freelance business.
What Is AND.co?
AND.co is a bookkeeping platform developed by Fiverr, a freelancing website. But unlike other bookkeeping platforms, AND.co was designed specifically for “solopreneurs.”
You can use AND.co to manage your business income and expenses, to invoice clients for payments, and to do much more.
The service is available in multiple countries across the world, with various currency choices at your disposal.
How Much Does AND.co Cost?
AND.co has two tiers: a free version and a paid version, known as PRO.
The free version of AND.co allows users to create standard business contracts, connect up to two bank accounts, and keep one client in their contact list.
The PRO version costs $18/month, but lets you add unlimited clients, edit their contracts, and connect up to six bank accounts.
The Best AND.co Features
1. Multi-Currency Billing and Bookkeeping
AND.co enables freelancers to bill for clients in their native currency. All of the most popular currencies are available, such as GBP, USD, and EUR. But if you work with companies in Australia, Norway, or Hong Kong, you can also bill in their currencies too.
Billing clients in their own currency means you don’t have to deal with foreign exchange fees and you can get paid quicker.
AND.co is also useful if you move abroad, since you can tweak your interface to show your earnings and outgoings in any country’s currency. This will make your job much easier when tax season comes around.
2. To-Do Lists
Rather than working from a to-do list in a separate app—or even on a piece of paper—AND.co lets you use a built-in task list instead. This way you can keep on top of all your tasks without getting lost between apps.
To start building out your to-do list, go to My Desk > Tasks. You will then find a box where you can enter the tasks you need to complete.
When the popup opens, you also get the opportunity to set a deadline and add further details if you want.
3. Customizable Documents
With AND.co PRO, you can quickly create professional-looking documents. These include contracts, proposals, and invoices. Each of these documents could save you hours of admin work creating it by hand in another app.
To create a new document, go to the left-hand sidebar on the web app. Select Invoices, Proposals, or Contracts, depending on what you want to create. On the next page, click the green button to start creating it.
The Pros of Using AND.co
1. It’s User-Friendly
AND.co is easy to use for both new freelancers and seasoned professionals. The interface is clean and loads fast too. Moreover, you can access every option you need from the homepage.
If you sign up for PRO, you can also enjoy dedicated support from one of the team members at AND.co. They will show you how to get set up and more.
2. You Can Organize Your Workflow Better
When you use AND.co, you can keep track of all your projects and outstanding payments. Everything can be uploaded into one place, giving you a complete overview of everything you need to see.
Using AND.co might also motivate you to scale your business faster. You can use the platform to set revenue goals, with a percentage-based tracker showing you how many days you’ve got left and how far away you are.
3. You can Keep Track of Your Finances Without Paperwork
Receipts, contracts, and invoices can pile up fast. And that is bad for both your brain and the environment.
Besides being able to create all your documents in the app, you can also upload your paper receipts to AND.co. To do this, go to Shoebox > Upload a File. Then, choose the file you want to upload.
The Cons of Using AND.co
1. Payment Fees
Each time you send a payment through AND.co, you need to pay a 2.9 percent credit card fee. On top of that, you must also pay a flat $0.30 fee. And for international payments, there is an extra one percent surcharge.
If you accept payments through PayPal, you must also keep in mind that using this service takes a chunk of your earnings too. So, if you use the platform regularly, all these fees can add up fast.
2. It Can Involve a Lot of Manual Work If You Have Many Clients
In some cases, you may find that using AND.co involves a lot of work from your end. To limit the amount of manual work, set recurring entries for outgoing monthly payments.
You can also set up recurring entries for clients that subscribe to your services. To do this, go to Subscription > Create New Subscription.
Then, set up Stripe Payments.
After that, you can send for approval.
3. There Are Limited Payment Integrations
With AND.co, you can integrate Stripe and PayPal. However, these are the only two payment options available.
If you want to get paid to another bank, you’ll need to enter your details as a note on every invoice you send.
Simplify Your Freelance Business With Accounting Software
Accounting software is not only essential for reporting accurate earnings to the tax authorities. You also need to use these services to run your freelance business with more efficiency and free up your time for more critical tasks.
AND.co is an ideal choice for both new freelancers and those with a little more experience.
