Here’s how to demystify writing expenses, ranging from accounting to pay-rates.

Digital Sticky Notes

Digital sticky notes are great for authors, especially those getting used to better expense-tracking. Apps like Simple Sticky Notes aren’t fancy – but they keep your thoughts in the right place, recording quick bits of data that you’ll return to later.

The simplicity helps for pitches, amounts, or who-pays-how-much.

Payment Systems

Clients want the easiest payment systems, and fees can discourage clients from paying your rates. Use several payment systems for ease, such as PayPal and Skrill. A provider like Wise.com lets you set up international bank accounts, which could have less transfer fees or waiting times for payments.

When it’s accounting time, a total statement can also be downloaded from these sites as well.

Graphs

A pie-chart can show expenses versus income, or showcase how much of your income has been proofreading versus article publication or royalties. Charts can show whether three months ago looked better (or worse) than the same three months the previous year.

Tools like Canva and Plotvar create graphs with data in seconds. Expenses viewed visually can make it easier to plan, and you’ll know a shortfall coming when you’ve seen one as a graph. Worst (and best) months can be seen at a glance.

Budget Apps

Expenses start with a budget: how much you’re spending on rent, computer repairs, or client meetings. A budget shouldn’t be guessing, but represented with real figures about your business. Online tools are more advanced than pens-and-paper, creating financial plans with just basic entries – and you don’t have to do any of the math.

RocketMoney and Firefly-iii are two great open source budgeting tools for freelancers, which can help you to figure out what you could be saving – and what you earn.

Other tools like Spending Tracker (Play Store) and Spend Wisely (App Store) warns when you’re overspending.

Accounting & Invoicing

Invoices shouldn’t be manually created with a word processor anymore; it’s more effort to calculate, and more files to store. Accounting software includes InvoiceNinja and Xero, which creates a database of your clients and their details.

Software can display detailed data about clients, including who was the most active customer. Information can also be downloaded, and often exported, for tax return purposes.

Hourly Counter

If you’re charging rates-per-hour, never guess at your billable hours. Use a counter like Clockify or MyHours – and this way, clients know exactly what they’re paying for. A simple tool, but a great time-saver when you’re focusing on work instead of the clock.

Billable hours are counted together when you’re done. Lawyers bill properly, and so should authors.

Calculators (for Writers)

We’ve all been asked about our rate for a project, and been caught thinking we’re not immediately sure. Calculators for freelancers are your answer, where a freelance calculator like SavvyCalculator’s or Upwork can be used to provide an estimate for a quote.

Percentage calculators can help for those who forget the equation. Calculators can be set to work on “per-project” or “per-hour” rates, and they’re great for those moments where quick counting is necessary.

For international jobs, you could also benefit from a live currency converter.

About the Author: Alex J. Coyne is a gonzo journalist, writer, and proofreader. Sometimes, he is joined by his cowriters. His features have been published in a wide array of international publications, like People Magazine, The Citizen, Caribbean Compass, and Writers Write.