Outsourcing for Freelancers

There are 3 key functions that are almost invariably done in-house:

1. Recordkeeping
2. Accounts Receivable and Billing (although collections is sometimes outsourced)
3. Cash Flow Management is always done in-house (although small companies will often hire a “part-time controller” for this kind of work)
I then set about looking at things in more detail by size of company…

The accounting functions are pretty straight-forward for the self-employed, working on their own. Good record-keeping actually simplizes the bookkeeping to the extent that it really becomes almost trivial. However invoicing your clients can’t really be outsourced.

If you expect to succeed in business, understanding your customers’ needs is paramount.
While cash {ow management is important, it begins with having enough savings to start and making sure that your customers pay as quickly as possible – ideally with at least a retainer before you start work.