Time to get your business finances under control. I recommend you do it the easy way: make the computers do most of the work.
I’ve long been a fan of Outright. It asks you to track only the minimum of detail required to do your income taxes. (As a sole proprietor, that’s a Schedule C.) Outright will pull transactions straight from your online banking.
End of year tip: if you can find a way to export your whole year of transaction data from your online banking, Outright will import it. Then next year, it can pull data automatically throughout the year.
Since you didn’t have to type in all your transactions, you can breathe a sigh of relief and classify them into the basic categories Outright provides.
Outright can do much more, but it is the basics you need to focus on at first. Get things in order. It makes a huge difference in every facet of your business.
I recently learned about Wave Accounting. It looks good, too, though I haven’t met their people or used their system yet.
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Becky started Small Biz Survival in 2006 to share rural business and community building stories and ideas with other small town business people. She and her husband have a small cattle ranch and are lifelong entrepreneurs. Becky is an international speaker on small business and rural topics.
Thanks, Becky! We are thrilled you gave us a shout out! Will you make it out to SXSW again next year? Looking forward to seeing you!
Jennifer, thanks for dropping by. I will be at SXSW, and hope to catch up with you, too.