Accounting/Project management systems for beginning freelancers Thread poster: Kristina Love
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Kristina Love 
United States
Local time: 12:53
Spanish to English
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A few nitty-gritty business questions from a beginner:
How important is it to use dedicated software to manage your bookkeeping and other records for your freelance translating business?
Does a large percentage of translators still kick it old school with some simple Excel spreadsheets and Word documents, or even a physical ledger book? And 1) does this work well 2) is it straightforward 3) is it recommended for a beginner?
And I'd ask the same three que... See more A few nitty-gritty business questions from a beginner:
How important is it to use dedicated software to manage your bookkeeping and other records for your freelance translating business?
Does a large percentage of translators still kick it old school with some simple Excel spreadsheets and Word documents, or even a physical ledger book? And 1) does this work well 2) is it straightforward 3) is it recommended for a beginner?
And I'd ask the same three questions about any software for the same purpose. I've heard of TO3000 (and am working on getting the 30 day free trial) and I've heard of Freshbooks.
I also think it's a little confusing and overwhelming the many different invoicing options available. For instance, ProZ.com has invoicing that you can use, and Smartcat.com also seems to be set up so that you can run your entire business from there in addition to being your CAT tool.
I just want to stick to one thing and keep it as simple as possible. What's the best way to go about this?
Aside from just invoicing, how do you handle your purchase orders? Accept whatever the client gives, or make your own template that you make them use so that it has all the necessary information? And does that double as your "project agreement" where they agree to your terms of service?
And do you generally require agencies to agree to your terms of service, or is this not customary for agency work (because agencies pretty much call the shots)? ▲ Collapse
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Q: How important is it to use dedicated software to manage your bookkeeping and other records for your freelance translating business?
A: I don’t think it’s important unless your business grows exponentially. I do have a bookkeeper and he handles everything except for invoicing.
Q: Does a large percentage of translators still kick it old school with some simple Excel spreadsheets and Word documents, or even a physical ledger book?
A: I don’t know what a large percentage ... See more Q: How important is it to use dedicated software to manage your bookkeeping and other records for your freelance translating business?
A: I don’t think it’s important unless your business grows exponentially. I do have a bookkeeper and he handles everything except for invoicing.
Q: Does a large percentage of translators still kick it old school with some simple Excel spreadsheets and Word documents, or even a physical ledger book?
A: I don’t know what a large percentage of translators do, but I have a simple Excel spreadsheet and it has been working quite well.
Q.: And I'd ask the same three questions about any software for the same purpose. I've heard of TO3000 (and am working on getting the 30 day free trial) and I've heard of Freshbooks.
A.: I don’t know, never used them.
Q.: I also think it's a little confusing and overwhelming the many different invoicing options available. For instance, ProZ.com has invoicing that you can use, and Smartcat.com also seems to be set up so that you can run your entire business from there in addition to being your CAT tool. I just want to stick to one thing and keep it as simple as possible. What's the best way to go about this?
A.: I have been using an Excel template for my invoices. As I have mainly regular customers I have a template for each of them that I fill in each month. I got into the habit of filling in each job immediately after finishing it so I don’t forget. At the end of the month I make a Pdf out of the Excel file and send it to the client.
Q.: Aside from just invoicing, how do you handle your purchase orders? Accept whatever the client gives, or make your own template that you make them use so that it has all the necessary information? And does that double as your "project agreement" where they agree to your terms of service?
A.: I don’t have a PO as I rarely outsource. After checking the one the client sent I accept it. I must say though that I have been working with some of my long-standing customers without a single PO (the emails exchanged are as good as a PO). If a client is not reliable no form of printed, signed, stamped, and sealed PO will keep you out of trouble.
Q.: And do you generally require agencies to agree to your terms of service, or is this not customary for agency work (because agencies pretty much call the shots)?
A. When an agency asks for a quote I have a template with all my terms of service.
Good luck! ▲ Collapse
| | | | | You may try Protemos or LSP.expert | Aug 3, 2021 |
Protemos -- This project is a spin-off from TO3000. Unlike TO3000, which is a desktop application, Protemos is a web-based platform.
LSP.expert -- My personal choice at this point, and I have tried all major TMS solutions currently available in the translation industry.
| | | | Steve Robbie
United Kingdom
Local time: 17:53
Member (2017)
German to English
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| You have a simple business and you don't need complex tools to manage it | Aug 3, 2021 |
Teresa Borges wrote:
A.: I have been using an Excel template for my invoices. As I have mainly regular customers I have a template for each of them that I fill in each month. I got into the habit of filling in each job immediately after finishing it so I don’t forget. At the end of the month I make a Pdf out of the Excel file and send it to the client.
Excellent advice, and cheaper than paying for software. I essentially do the same thing.
The key rules are:
(1) Log each job as soon as it comes in
(2) Check the amount hasn't changed when the job is finished (due to extra work, etc.)
(3) Check the totals against the POs AGAIN before you send the bills out (to make sure you didn't make any mistakes).
(4) Keep a list of all your bills, and track which ones were paid and when (so that you know who hasn't paid, and can work out how much you earned)
Do that and you won't go far wrong. You have a simple business and you don't need complex tools to manage it.
If you can handle intermediate-level Excel functions such as SUMIF and VLOOKUP, you can go further. My own spreadsheet is slightly more complex - it tells me things like how much I billed this month, how much I expect to receive this month, next month and the month after, and how much it's worth in my local currency.
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| Just in case, Protemos is free for freelancers | Aug 3, 2021 |
Unless you plan to outsource work or become an agency, you may enjoy a free version of Protemos for freelancers.
| | | | Kristina Love
United States
Local time: 12:53
Spanish to English
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TOPIC STARTER | Whoa, thank you! | Aug 3, 2021 |
@ Teresa, wow, thank you for that thorough and detailed set of answers for every question!! That is super helpful. One follow-up question is about this bookkeeper of yours. Expensive? How did you find him? Why did you choose to do that rather than do it all yourself? (For help with taxes, I might guess?)
@ Vladimir, had never heard of Protemos but was very intrigued about it being web-based, and a spin off of TO3000 which seems to have such a great reputation. And then you said ... See more @ Teresa, wow, thank you for that thorough and detailed set of answers for every question!! That is super helpful. One follow-up question is about this bookkeeper of yours. Expensive? How did you find him? Why did you choose to do that rather than do it all yourself? (For help with taxes, I might guess?)
@ Vladimir, had never heard of Protemos but was very intrigued about it being web-based, and a spin off of TO3000 which seems to have such a great reputation. And then you said it's free for freelancers, so that's really something I'm going to look into. At least if it is web-based, everything will still be safe even if my computer blows up. Do you think it's safe/secure? Why do you prefer LSP.expert?
@ Steve, thanks for breaking it down to those 4 simple key rules. You and Teresa are both giving me confidence that this can be kept very simple and relatively low-tech without any problems. For some reason I really like the idea of doing it that way. (Probably because I'm already getting tired of having to have a million different applications, accounts, and passwords.) I have done some simple formulas in Excel (like the sum one) and my husband knows VLOOKUP, he can show me.
Thanks everyone, this is great info. ▲ Collapse
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In the beginning I did my own bookkeeping until one day I made a very costly VAT mistake. So, I asked around and one of my nieces (owner of a small medical clinic) recommended me this bookkeeper. As I said before she does everything but invoicing. I pay her circa 1,500 € per year and she is worth every cent. She saves me a lot of time and stress and seems like there are fewer queries from the revenue office when they know the tax return has been filed by a professional.
| | | | | Protemos and LSP.expert (continued) | Aug 3, 2021 |
Kristina Love wrote:
@ Vladimir, had never heard of Protemos but was very intrigued about it being web-based, and a spin off of TO3000 which seems to have such a great reputation. And then you said it's free for freelancers, so that's really something I'm going to look into. At least if it is web-based, everything will still be safe even if my computer blows up. Do you think it's safe/secure?
Well, hackers steal moneys from banks. They steal account details from Facebook and other social media giants. They hack into Pentagon systems. But LSP.expert is as safe as they come.
Why do you prefer LSP.expert?
I work with a small team of seasoned partners, and I need some advanced functionality.
LSP.expert Plans and Pricing. I have subscribed to Premium recently.
... I'm already getting tired of having to have a million different applications, accounts, and passwords.
Try 1Password. I keep over 370 sensitive items in its vault (login details, software serial numbers/activation keys, social security number, IDs, you name it). It's the best password manager for for Mac, iOS, Windows, Android, Linux, and Chrome OS.
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Kristina Love
United States
Local time: 12:53
Spanish to English
+ ...
TOPIC STARTER
Teresa Borges wrote:
In the beginning I did my own bookkeeping until one day I made a very costly VAT mistake. So, I asked around and one of my nieces (owner of a small medical clinic) recommended me this bookkeeper. As I said before she does everything but invoicing. I pay her circa 1,500 € per year and she is worth every cent. She saves me a lot of time and stress and seems like there are fewer queries from the revenue office when they know the tax return has been filed by a professional.
I see! Well that sounds like something for me to definitely keep in the back of my mind for when I start to make a little money. Not being hassled by the revenue office is for sure worth quite a bit.
| | | | Kristina Love
United States
Local time: 12:53
Spanish to English
+ ...
TOPIC STARTER
Vladimir Pochinov wrote:
Well, hackers steal moneys from banks. They steal account details from Facebook and other social media giants. They hack into Pentagon systems. But LSP.expert is as safe as they come.
I guess if it's free and on the web no one can really guarantee it's safe - and then there's the problem that if your internet service is interrupted for any reason, you don't have access to your accounting.
Try 1Password. I keep over 370 sensitive items in its vault (login details, software serial numbers/activation keys, social security number, IDs, you name it). It's the best password manager for for Mac, iOS, Windows, Android, Linux, and Chrome OS.
Thank you for letting me know about 1Password. Right now I've been working on compiling all my passwords into one place (just a document) and keeping the document in an encrypted area with Cipher Shed. Of course, unlike an actual password manager like 1Password, it doesn't automatically help me login to different things. But even though 1Password isn't very expensive, all these little things (8 bucks a month here, 10 bucks a month there) would really add up. I'll just do without for now but someday in the future I'll invest in some time-saving methods like that.
I see that LSP.expert has a free trial! I think I'll do that free trial too while I'm at it. Thanks for the tip!
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