Freelance income is volatile month to month even in a good year; net worth is the number that actually tells you whether the business and your finances are moving in the right direction over time, independent of any single slow or great month.
Tracking it quarterly, not daily, is usually enough: net worth is a slow-moving number, and checking it too often just adds noise from asset price swings that don't reflect real financial progress.
Assets: cash, investment and retirement accounts, the resale value of major business equipment, and anything else genuinely convertible to cash.
Liabilities: credit card balances, loans, unpaid taxes owed, and any other outstanding debt. Net worth is simply assets minus liabilities, and it stays entirely in your browser here, nothing is uploaded anywhere.
Only if you're confident it will actually be collected; unpaid invoices from a client who might not pay are better left out or discounted, to avoid an inflated number that isn't real cash.
Quarterly is usually the right cadence, monthly if income is highly variable and you want to catch a negative trend early, but daily tracking usually just adds noise.
No, this is a simple planning tool, not financial advice; for tax, investment, or retirement planning decisions, a qualified professional should review your full situation.