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bunq: Freelancer? 5 things to look for in a business bank account

If you’re a freelancer or entrepreneur, then you’re probably living a great adventure right now! We know, working hard for your dream can be a challenge too: looking for the right business bank account, right insurance, sorting taxes. But don’t worry, we’ve got a couple of tips to help!

1) Say goodbye to manual bookkeeping ????

Ain’t nobody got time for bookkeeping when you’re busy making the world a better place. Make sure you never have to worry about doing it manually. Nowadays there are plenty of great apps that you can use and make the whole process hassle-free, like Billomat.

Billomat creates offers, invoices, and more within seconds, no matter where you are, and it’s especially designed for freelancers. You can easily select Billomate from your bunq app, and check bookkeeping off your list from €6 per month.

Another option is MoneyBird, very popular in the Netherlands with freelancers (or ZZPers, as we say around here). You can create invoices, register receipts and connect you bank account, all starting from €25 per month. They also use draft payments to initialise payments for open invoices, which is pretty handy!

If you’re a bunq user, you can set up a direct connection between bunq and your bookkeeping software once and you’re good to go: you’ll always have a real time overview. Besides Billomat and MoneyBird, plenty of bookkeeping apps are already integrated with bunq to make life easy. Find them all here. If your accountant or software doesn’t support a direct connection yet, you can set up an automatic monthly export.

2) Always be ready for the tax man ????

Taxes are not the most fun part of life – or business – but we have to deal with them anyway.

Trying to figure out the right amount to put aside, or making sure you don’t spend money you should save for the tax season can be challenging. Make sure you opt for a business bank account that does it automatically, so you don’t have to stress about it (or be great at maths, for that matter). The bunq app sets aside the VAT amount on all incoming and outgoing payments automatically, so you can focus on things that matter – and are more fun. You’re always free to choose the % that best applies to you. In the Netherlands, for example, you can switch between the standard 9% or 21% VAT whenever you need to.

3) Make growth easy☝️

Working on your dream all by yourself is highly rewarding, but at some point, it may be time to attract more talent and rock even harder.

Of course, then you also have to consider them regarding financial matters. Whether we’re talking about a 50/50 partnership or your first employee, handling money will get a bit more complex than when you were running a 1 man show. To avoid struggles, choose a flexible bank account that doesn’t ask you for 100 papers and 3 weeks to make any changes. With bunq Business, you can add and remove a director to your account in a couple of taps, and also grant employees access to chosen sub-accounts. You have full control, straight through the app.

4) Business abroad with no extra fees ????

While many freelancers and entrepreneurs start local, one day you may be looking at options abroad.

Do you usually make payments in a different currency, or maybe need to shop internationally to grow your business? The exchange rate can be confusing and most banks would typically charge you extra for this. You can avoid fees as a bunq user, thanks to a great feature called ZeroFX. Enjoy the real exchange rate and save money on your spendings abroad.

Is your team formed of fellow entrepreneurs and digital nomads located all over the world? During the current pandemic, teams working from home aka anywhere and everywhere are becoming more and more common. Managing colleagues and partners abroad takes all sorts of skills (that we’re sure you have!), but it also takes different ways of dealing with money. Bank transfers can cost a fortune, so try and have a look at other alternatives, like Wise. You can send money abroad 8x cheaper than any other bank, and it supports 39 currencies. You always get the real exchange rate, so you never have to worry about ridiculous hidden fees – just save money as you go. If you’re a bunq user, you can send money using Wise through the bunq app, thanks to our integration. Check out some feedback from our community here!

5) Exclusive Deals for entrepreneurs and freelancers ????

Last but not least…a great deal is always worth looking at. Everything we build at bunq is to make your life easy and help your business grow – but of course we’re even better with some awesome trusted partners! In your app, you can find plenty of Deals that save you time and money while you focus on your work.

If you’re looking for insurance solutions, check out Yezzer from the Deals section and enjoy Є25 cashback and 5% off your premium for business insurances. Or have a look at Insify, which offers 10% off your first 6 months for your premium.

Looking for help with management? Check out MoneyMonk which connects your project management and accounting seamlessly, and enjoy 50% off the first 12 months. phos offers another great deal for bunq users, with a 1 month free trial – their solution is the first to turn your Android NFC-enabled into a POS terminal, effortlessly.

There’s a lot more that bunq Deals can offer, but we know you don’t have much time – so simply check them all out in the app. Head to the Profile tab, Money Saved, and select Deals.

Read the original article here. Find out more about bunq here.

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