One of Lancerkit's accounting module's notable features is its automatic invoicing and payment monitoring capabilities. Freelancers may use the platform to produce professional-looking invoices with their own branding and send them straight to their clients. The system also maintains the status of each invoice, from submitted to paid, making it easy for freelancers to keep track of their unpaid bills. This function not only streamlines the invoicing process, but also assists freelancers in maintaining a healthy cash flow by assuring timely client payments.
The accounting section of Lancerkit also has spending monitoring and reporting features. Freelancers may quickly track and classify their company costs, such as office supplies, software subscriptions, and travel expenses, for simple reporting. The software offers precise expenditure reports that provide freelancers with a clear picture of their spending, allowing them to analyze company expenses and make smart financial decisions. This feature is especially beneficial for freelancers who must manage their tax responsibilities since it streamlines the process of tracking and reporting company costs for tax reasons.