There’s a myth that business finances are complex because numbers are involved. Do you feel like you shy away from your numbers because “it’s too complicated”?
Here’s the truth – you don’t have to be an expert in bookkeeping to have a handle on your finances. That’s where we come in. You can think of us as your translator😉 Numbers are our thing, and we’re here to take them from complicated to straightforward.
If you’re not ready to hire a bookkeeper yet, here are some tips to keep bookkeeping for your business SIMPLE:
- Keep your receipts organized – Keeping track of your receipts will make the process of categorizing expenses and income easy, plus the IRS requires it.
- Have a plan – Think ahead and plan when you will be ready for a bookkeeper. Whether you want to hire when you’ve hit 6 months in business or when you bring in $5k in revenue, having that benchmark will keep you from thinking about it constantly (and may even give you a light-at-the-end-of-the-doing-your-own-bookkeeping-tunnel feeling).
- Track your income and expenses, somehow – Whether you get an accounting software subscription (see our recommendations here) or use a spreadsheet like our Money Mapper, tracking your finances before getting a bookkeeper is beneficial in many ways – tax season will be smoother, you’ll know your numbers, and onboarding with your future bookkeeper will be a breeze!
- Consider getting expert help – You could ask your CPA if they have any tips for tracking finances, or schedule a one-time strategy session with a bookkeeper. Not only will you get the info you need to ensure you’re on the right track, but you can think of it as a trial run with the bookkeeper you’re thinking of hiring.
The content in this blog post is provided for general informational purposes only and should not be considered professional tax or legal advice. The author is not a Certified Public Accountant, and no assurances can be made regarding the outcomes or consequences of tax returns, IRS actions, or any financial decisions based on this information. Readers are strongly advised to consult with a qualified tax professional or legal advisor for personalized guidance specific to their individual circumstances. The author expressly disclaims any liability for decisions made based on the information presented in this blog post.
