Accounting Software Recommendations for Influencers and Content Creators

As an influencer or content creator, your time is limited. The right accounting software can transform your workday and empower better financial management. In this guide, we’ll provide accounting software recommendations for influencers to help streamline your finances.

Influencers and content creators spend untold hours crafting blog posts, reviews, videos, and more. It’s a ton of fun and it’s the opportunity to build your brand while creating your own destiny.

It’s also challenging to balance work with financial management. For those just starting out, Excel could be all you need, but as your business grows, you’ll need something much more capable. In this guide, we’ll explore accounting software options and help you find one that fits your needs and budget.

Why Standard Accounting Software Might Fall Short

Standard accounting software is widely available. However, you might want to think twice before going this route. These options often fall short for influencers and content creators.

Unique Revenue Streams

Digital technology has forced the world to evolve rapidly. Only a few short years ago, “influencer” was not a career path. Today, millions of influencers run thriving businesses. The problem is that standard accounting software was designed for the old world. That means it can fall short in a few ways, including tracking how today’s influencers make money, such as:

• Ad revenue
• Subscription fees
• Sponsorships and partnerships
• Affiliate marketing

Those methods are dramatically different from how things used to be done, particularly when it comes to small businesses and entrepreneurs.

Diverse Expense Categories

Accurate financial management requires tracking and reporting expenses. Influencers have expenses that most small businesses don’t, which is another reason standard accounting software may not be the right option.

As an influencer, you’ll likely need to track travel expenses, marketing/advertising expenses, website expenses, equipment costs, professional fees, and more. It’s important to ensure that any accounting software you choose can handle these accurately with a minimum of hassle.

The Need for Detailed Reporting

Influencers and content creators must comply with specific IRS rules when it comes to taxes and write-offs. Any accounting software you choose must give you granular insights into your financial health. You can then use this information to inform decisions, determine spending, and chart a course toward success.

Tailored software gives you the means to customize your approach here. Influencers and content creators can have dramatically different financial management needs. With tailored software, you get the features and capabilities you require.

The Top Accounting Software Recommendations for Influencers and Content Creators

Software A: QuickBooks Simple Start

Published by one of the industry’s recognized leaders, QuickBooks Simple Start is designed for small business owners and those new to online billing and accounting. It’s easy to use and features intuitive tabs and controls. It also allows you to manage invoices, track income, track expenses, and generate detailed reports, while storing your financial information safely.

However, it can take a bit of time to fully understand the software and its functionality. It starts at $30 per month for a single user and provides access for two accountants.

Software B: Xero

Xero is another contender. It’s designed for small businesses and offers access to real-time financial data like QuickBooks. You can also get invited to the Xero Influencer HUB for influencers who appreciate the software.

Xero is more intuitive to use than QuickBooks, but there are feature restrictions – you don’t have access to all features from all pay tiers. Pricing also changes somewhat frequently. It’s free to use for 30 days but then you must choose between different tiers, including Early ($13 per month), Growing ($37 per month), and Established ($70 per month).

Software C: Wave

Looking for a free, flexible accounting solution? Wave could be it. It’s cloud-based and designed for entrepreneurs, freelancers, and bloggers, which means it gives you more of the features you need and fewer of those you don’t. That includes payment tracking, credit card processing, invoicing, and receipt/expense tracking, too.

However, Wave has limited features for personal profiles and bank connections aren’t allowed for personal profiles and there are no third-party integrations supported. With that said, it is free to use.

What to Look for When Choosing Accounting Software

Thinking about choosing accounting software to fuel your business growth? Here’s what to look for.

• User Experience: Make sure that the software features an intuitive, user-friendly design, easy navigation, and good usability.

• Integration Capabilities: As an influencer or content creator, you’ll use a wide range of tools and platforms. Make sure the accounting software you choose integrates with those you use.

• Support and Training: How easy is it to find help when you need it? Is there access to how-to guides? Live help? The more support provided, the better.

• Scalability: Ideally, you’ll choose an accounting software platform that grows with your business so that you only pay for features you need now and can add more later.

Do I really need specialized software? Can’t I just use traditional accounting tools?

While traditional tools can work, specialized software offers tailored solutions that better align with influencer-specific financial scenarios.

How often should I update or change my accounting software?

It depends on your growing needs. If the software still meets your demands and integrates with your other platforms, there’s no immediate need to switch.

Are there free accounting tools suitable for influencers?

Yes, some free tools might cater to basic needs. However, as your financial activities become more complex, a premium tool could offer more comprehensive features.

Is my data secure with these software solutions?

Most top-rated software solutions prioritize data security. However, always read the software’s security policy and opt for those with robust encryption and safety measures.

Conclusion

As an influencer or content creator, you are not just a creator but a business owner. Running a successful business requires more than talent and passion. It also means accurately managing your finances, and that requires the right tools.

Standard accounting software is often not up to the task of managing and tracking financial information for these types of businesses. You must choose an accounting tool that aligns with the unique financial framework and requirements for influencers and content creators.

The right software can provide many benefits. These range from accurately tracking business expenses to saving money through tax write-offs. The right accounting tool will also grow with your business, providing benefits for years to come.

With that being said, there’s no one-size-fits-all solution. Invest in your financial health by researching and choosing software that truly caters to your unique needs and goals.