Effortlessly Create a Graphic Designer Invoice for Finance Needs

Graphic designer invoice for Finance

now let's be real most designers suck at doing their taxes and their finances I know because personally me I was so bad at it back in the day but I'd rather be working on logos and working on fun Brands and actually worrying about my books and my accounts and my finance finances and numbers it's just too much chaos years ago I used to use Excel spreadsheets and it was basically a mess I couldn't accurately like calculate everything and so when it came to like tax time I was stressing because I like I wouldn't know what to do so today I want to give you some freelance tips especially if you're a freelancer in Australia now thanks to rounder for sponsoring this video now number one is you want to plan your taxes ahead so typically in Australia you have different thresholds and so if you hit over 75 000 you typically want to put away 30 every month so my best tip is to actually automate it in your bank accounts so whatever Bank you use whether it's commbank Westpac or whatever you want to create a business account saver and you want to create a one one for your debit card and you want to actually put 30 away way every month so whatever income is coming in make sure you put that away if you're in the lower thresholds maybe you're earning only 30 to 40K a year you can probably put away 20 so make sure you automate that every month to just make it efficient and save you time because it's not automatic as a sole Trader you have to actually pay tax at the end of the year or you can sign up for PG where you pay in installments usually every quarter you'll pay like I don't know 2 000 or whatever it is depending on how much you're earning so you're paying installments which is cool so on my dashboard in around it it actually shows me an estimation of how much tax I'll be paying so you can see my income you can see my expenses and then I'll give me an estimate at the bottom which gives me a good idea how much I have to pay I can easily just go here go to the bottom and you can see the income expenses the taxable income so the actual money I'm getting taxed on and then the tax payable right down here and it gives you an estimate as you can see there which I think is super cool and this just allows me to know how much to save now one of the cool things with router is actually Bank fee now when it comes to bank feeds I can click on the left here and up the top you can see I can click the Cog I can enable you know all my accounts here I can remove my bank as well but it just shows me all the money that's in my accounts for especially for my business it's not showing my personal stuff so I can go to the top right click add bank and you can load and connect any Bank you want which I think is an amazing feature as you can see there and typically this is available for Australian accounts for overseas it doesn't really work maybe in the future they'll have that updated I can also click Auto suggestion so it will automatically add GST to certain expenses or things I I pay for or income on Services I offer and also expense data will automatically pre-fill it for me which just saves me time for doing it manually so you can see here I can see some of the credits and debits so I can select credits if I want and it will select all that if I want to select or deselect you know all debits I can select all that and then I can go you know do a bulk thing maybe it's non-business is it a trans Etc or I can actually just add expenses and you can see it will include the GST business use is 100 got categories I can add vendors as well which I'd like to do I've got categories here and then also I can assign that to a client if I want so that's the cool thing about the bank feed one of the cool things is I can filter by you know specific types so if I want to go like on reconcile debits you can see some of the stuff you've got like Amazon or and then I can also filter by the dates and maybe this month you can see it will filter so now the next tip I have is time tracking when I used to work on projects and I've used to time myself so I didn't know how long it would take me to do a project it could have been like 50 hours and I wouldn't have known so now I Time Track and in rounded I can just go click on time it'll go to time tracking I can also click on manage projects as well to manage on the different projects I've got here so I've got a Time tracking and then what I can do is I can type hey like logo design I can select the project so you know maybe it's for you know one of these clients here click refresh click the play button and if I want to add like billable maybe it's like 100 an hour it's going to add that another cool feature is I can manual and manually enter time if I worked outside of hours and I didn't click the button I can do that here that's pretty self-explanatory so if I stop that you can see it calculates the actual time and at the end of the day it will add up all the hours here as you can see if I go let's go this month you can see all the hours there or like last month so sometimes some produce attract others I don't track so it's only for specific projects and you can see all the projects on the side here and obviously I can archive a project as well as a freelancer you want to know how much time you're spending so then if a product takes you 10 hours you can charge ingly to your client and remember don't just charge based on time but charge based on value charge based on the project think about profit think about taxes think about expenses think about all the elements that's involved in the work not just oh it's it's per hour I tried 15 hours so 10 hours is 500 bucks or whatever so you don't want to think like that you want to think bigger the next thing is creating invoice templates for efficiency now rounded has invoices so I can click on invoices and I've got pre-made templates I have here I've got a USD version and an Aussie version for the currencies I can add as many as I want I can add another one for let's say um you know Canadian right and I can copy I can create template right it adds my logo which I've already done it's got my you know address and all those other things which is really cool I can see the currency I've got GST is it inclusive or exclusive I can actually style everything as well so maybe I want to change it to like green or whatever you know I have access to that which is cool I can attach files I can also set it as a default which is pretty cool and I can also create an invoice for a client that's in here so if I go new client you know I can go here change all these elements contact name business number address and I can save that contact super fast so I can go to currency you can see you've got Euro you've got all these currencies so let's go Canadian let's find just for now and now I've got a Canadian version which is super cool so once I want to create an invoice I can just go to invoices create new invoice let's just say it's a USD or Australian version I'll create a new client John Smith one West I'm Sydney let's just go there John uh john.smith let's just make it up Okay click save client and now I've got my thing here I'm going to type in Design Services for and so I've got a GST button I can select a rate I can also type a description so if I want to type something here you know I've got the dot I can add headlines I can customize the text really easily now what I actually do have is the template that I was talking about so I click this little star and I actually can just click on the templates and it's going to add those and I can change these templates at any time I can go to the right and click the little X and delete and say for example let's say we're doing you know some designs phase one Discovery phase two identity and say let's a week let's say a website right so you've got you know all these prices there I can include GST on everything which is super cool so that looks great I've got my payment details here you can accept PayPal and stripe which I've already connected so this is hypothetical I can add a discount maybe the client pays if they play pay it all up front I can put a discount there let's say five percent I can also request a deposit which I think is an amazing feature because that just saves me time so usually I do 50 or say like 33 over three times you know if you want to do that then I can just click done and once I send ready to send that it's going to send to the client and they're going to be able to pay it with a link and so for example I can save this I can click let's go ready to send right and I can just put like John Smith team out even though it's like I can customize this text I'm super excited to get started or whatever you can customize that but I want you to pay attention to the get share link I'm going to click on this little button click Mark invoice as sent and activate just so I can use it obviously when you send it or activate but now I can do this boom and now I can just send this link an email to the client and they can click pay with card or pay PayPal or I can download the PDF and send it that way if you want but the link is just so much faster lastly you want to have easy to read reports for your accountant when tax time comes around you can give access to your accountant so you go to settings then go to accountant access and then all you got to do is just put in your accountants email right in here and then you can actually select these buttons here if you want the accountant to see all your data allow access to bank feed so they can see your overall money in your bank and they can also change GST as well and you can invite them and then you can just revoke any of the access or change permissions as well so with rounded I'm gonna click on reports I've got activity statements here so I can see all my activity statements which is really cool I can look at my time sheets I can also look at expense reports so I can see all my experiences at a glance all the category Etc with all the numbers just super cool I can also look at the income report as well and the cool thing is I can literally download a CSV file or a Download a pdf if I click download PDF in the top right corner it's going to generate that and I can see everything at a glance it's going to have all my numbers and everything all accurately it can also filter by last Financial year or client or by category and then at the end I can do a profit and loss statement so I can see you know how much I made and what was the profit so it just allows me to easily export all of that so when I send it to my accountant he has all the data he needs and I'm not fumbling through receipts or fumbling on multiple Excel spreadsheets it's all in one place so overall these are going to help you manage your finances during tax time as a freelancer as an Australian sole Trader it's going to completely save you so much time and just be beneficial so if you want to try out rounded you can actually try it out for free but if you want to get an annual plan you can use my code Jeremy 30 to get 30 off any annual plan the link will be in the description just make sure you do it before June 30 because the discount will end so make sure to try it out it's really affordable it's only like 20 a month and I've been using them for around four years now so definitely check out and if you do want some other freelance tips around setting up your business or brand name then you can check out this video here where I talk about how to do that