Bonsai is a suite of tools that helps you run your freelance business more effectively, including solutions for contracts, invoicing, time tracking, accounting, taxes, and banking. I've been using Bonsai for my freelance business for the past year, and it has definitely made my life easier. No more worrying about whether or not I'm going to get paid on time, or keeping track of all my different contracts. And because everything is in one place, it's easy to track my progress. In this article, I'll go over how each of Bonsai's tools has helped me with my freelance web design career.
Contracts
First, the contract management tool has been incredibly helpful in keeping track of deadlines and progress on projects. I can easily see which contracts are coming due soon and make sure that I'm meeting all the milestones. Bonsai offers dozens of contract and proposal templates based on your industry and project type. You just select one of the templates and fill in some information in a brief, easy to use form. Bonsai also collects e-signatures from both you and your clients. Just sign and send, and Bonsai will send an email along with reminders for your client to sign the contract.
Invoices
Second, the invoicing tool has made it easy for me to send invoices and get paid on time. I can track which invoices have been paid and when, so I always know where I'm at with each client. The tool also allows you to set up recurring payments, which can be a great way to streamline your finances. Clients can pay invoices by credit card, bank transfer, or PayPal through Bonsai Payments. Alternatively, you can integrate your Stripe account with Bonsai and receive payments that way.
Time Tracking
Third, the time tracking tool has been essential for me in keeping tabs on how much time I'm spending on each project. This helps me to make sure that I'm billing my clients correctly and not overworking myself. I can also see which projects are taking up the most time so that I can prioritize accordingly. I typically structure my projects in a hybrid fashion with milestones billed as flat rate and then additional work at an hourly rate after a certain date passes.
Accounting & Taxes
Fourth, the accounting tool has been a huge help in managing my finances. I can see at a glance how much money I'm making, what my expenses are, and where my money is going. This has been invaluable in helping me to stay on top of my finances and make smart decisions about my spending. Bonsai also has an add-on service that helps you calculate how much taxes you owe based on your accounting data. This helps me stay on top of quarterly estimated tax payments.
Banking (Bonsai Cash)
Finally, Bonsai Cash has been super helpful when it comes to setting money aside to pay those estimated taxes. Bonsai Cash is an online bank account you can use to receive your payments. Bonsai Cash has automations where you can allocate a certain percentage of each payment to an "envelope". I use an envelope to automatically set aside money for taxes. This has been a huge time-saver for me and has helped me to stay organized during tax season.
Overall, I've been extremely happy with Bonsai and would recommend it to anyone who is looking for a way to streamline their freelance business. Bonsai has helped me to save time, stay organized, and get paid on time. If you're looking for a way to take your freelance business to the next level, definitely give Bonsai a try.