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If you love being efficient or you are fed up messing around with spreadsheet then Quickbooks Self-Employed could be just what you are looking for.

When it comes to being self-employed whether it’s your side hustle or a full-time career then bookkeeping and taxes are down to you.

For some, that’s easy. They’re a spreadsheet guru and have plenty of time on their hands to learn about taxes

For others, they want an easy automated solution.

That’s where Quickbooks comes in.

Quickbooks offers various solutions for automating bookkeeping and taxes.

Quickbooks Self-Employed is a version specifically designed for people who work for themselves like freelancers and sole traders.

Here I review Quickbooks Self-Employed UK and show you some of my favourite features.

What is QuickBooks Self-Employed?

QuickBooks Self-Employed is a desktop & mobile app bookkeeping system that handles all your financial admin.  

It’s designed for self-employed individuals. That means it’s super simple and only contains the exact features you’re going to need.

Most of all it is priced to be affordable.

What Does Exactly Does QuickBooks Self-Employed Do?

When you’re self-employed you’ll have to:

  • Add up your income
  • Deduct your expenses
  • Keep receipts
  • Work out your taxes

And this is basically what QuickBooks Self-Employed does.

It automates your data entry and expense keeping, as well as estimating your tax in real-time. Saving you the hassle of keeping spreadsheets or just living in the dark month-to-month.

Then at tax time, it drafts all your figures out ready for you to fill out your self-assessment tax return.

What are the Main Features?

Quickbooks self-employed is not only intuitive and nice to look at, but it also has a few clever features.

Connects to Your Bank

QuickBooks Self-Employed connects to your bank account to pull all your transactions into the system, saving you the hassle of logging them one by one.  

You can mark them up as business or personal, that way QuickBooks knows which to include in your taxes.

Mileage tracking

With QuickBooks Self-Employed you can enter your business mileage each time you make a trip (one of the most commonly forgotten tax deductions).

Or if you prefer you can turn on the “Auto-Tracking” feature in the QuickBooks app.  

Then the app uses location services on your phone to record you mileage automatically.

Perfect if you’re a self-employed Uber Driver or Deliveroo Rider.

Claim Expenses

Receipts are evidence of all the expenses that you want to claim to reduce your taxes.

But they are so easy to lose!

With the QuickBooks Self-Employed UK mobile app you can record your expenses on the move, as well take a photo of your receipt.  

Tax Estimation

You’ll be prompted to enter your tax information when you get set up.

From there it will cleverly estimate your tax in real-time as you enter your income and expenses.

That way you’ll never be hit with an unexpected tax bill.

Plus under tax reports, you’ll find a summary of all the figures you’ll need to fill out your self-assessment tax return.

Invoicing

The invoicing function in QuickBooks Self-Employed lets you create bills and send them to customers.  

It doesn’t have VAT functionality however, so if you are VAT registered you’ll need to take a look at the Simple Start version.

How Much is Quickbooks Self-Employed UK?

The usual cost is £8/month.  There is a 30 day free trial period as well as 50% off for the first 6 months.

How does this compare?

There are two other main contenders out there.  Here they are, along with their monthly price, once introductory offers have expired:

QuickBooks Self-Employed is a cheaper option to its competitors. But it’s important to remember QuickBooks Self-Employed has less functionality.

In some ways that is better because having more features than you need will make things complicated.

But if your business grows or becomes more complicated you may need to upgrade your bookkeeping system.

But that is not a problem because QuickBooks do offer upgraded versions, to cater for additional needs.

Is it Worth It?

Quickbooks is a good option for the self-employed.

I’m a big fan of automation and being as efficient as I possibly can. I’ll also do anything to avoid tedious work.

For that reason, Quickbooks is totally worth it.

It’ll keep you organised and put you in control of your taxes, at a great price.  

Even if you plan to hire an accountant, having your transactions loaded into QuickBooks will reduce the price of filing your tax return.

Or if you handle your own taxes, QuickBooks Self-Employed generates all the figures you are going to need to complete your tax return.

How to Sign Up

Head over to the Quickbooks website and sign up. Choose between 6 months at 50% off or, if you aren’t sure, the 30-day free trial.

Updated 5 December 2019