Best Bookkeeping Software for Digital Nomads

Introduction

 There are many different options for bookkeeping software for digital nomads, each with its own benefits and drawbacks. Which is the best option to manage your finances while travelling? Let us give you our opinion on which is best for you.

Spreadsheets

The benefit of using a spreadsheet is.. It's cheap (if not free) and easy to use - most people know their way around a basic spreadsheet. Two of the most common are Microsoft Excel and Google Sheets.

The down sides are it is easy to delete data and there are no reports you can run to quickly look at profitability and other useful things real bookkeeping softwares have built in.

Making Tax Digital for income tax is being introduced soon and having a paid for software that integrates with HMRC will make this processes much smoother. For now, if you’re a non-VAT registered digital nomad or expat with a small business, a spreadsheet might be a good starting point.

Freshbooks

FreshBooks is designed with freelancers and service-based businesses in mind, offering a user-friendly platform that simplifies invoicing, time tracking and expense management. It's straightforward approach makes it an excellent bookkeeping software for digital nomads who need a simple yet effective way to manage their finances.

The down side is it has limited features for larger businesses and the reporting capabilities are not as robust as other platforms.

Freshbook’s pricing ranges from £7.50 + VAT per month to £17.50 + VAT per month depending on the plan.

Xero

Xero is a powerful cloud based accounting software for digital nomads and expats that is highly regarded by businesses and accountants alike. Known for its sleek design and intuitive interface, Xero offers all the essential features and robust multi-currency support - perfect for digital nomads dealing with international clients.

It also has excellent reporting features and integrations with other financial tools. Xero is our favourite software and the one we recommend to our clients.

Xero offers various different plans, the cheapest being £16 + VAT per month and the most expensive being £59 + VAT per month.

Quickbooks

Quickbooks is very similar to Xero and offers all the basic features to help digital nomads manage their finances remotely. It includes solid reporting and invoicing tools to help you make financial decisions in your business.

However it is not as user friendly as Xero and I feel it is a bit 'clunky'. Their packages range from £10 + VAT per month to £47 + VAT per month.

Conclusion

There are many other bookkeeping softwares for digital nomads - Freeagent, Zoho Books and Wave to name a few. All online bookkeeping softwares are similar with subtle differences, so it’s worth exploring a few free trials to see which one suits you best.

We have found Xero is the most user friendly and popular with our clients. If you are a small, non-VAT registered business and do not want to pay for a software then there is nothing wrong with sticking with a good old fashioned spreadsheet!