When I started my first online business way back in 2012, there was a lot I didn't know. However, the one thing I did know was how to do my small business bookkeeping and taxes. Armed with an accounting degree and CPA license, I wasn't worried a bit about crunching the numbers for my business.
That isn't true for most people. I'm guessing that when you first started your Etsy shop, bookkeeping and taxes were near the bottom of your priority list! There are too many other more exciting things to do for your shop. Who has time to worry about the numbers?
While you can get away with ignoring your bookkeeping and taxes for a little while, at some point you must deal with your business finances. I don't want that to be scary or intimidating for you! My goal is to create content that helps you understand exactly how to do bookkeeping for your Etsy shop and file your taxes.
There are so many benefits to be gained by taking control of your bookkeeping in the early stages of your business. Taking control will save you time, money, and end of year tax time stress.
But the most important reason to spend some time on your Etsy bookkeeping is that bookkeeping allows you to produce financial reports like a Balance Sheet and a Profit & Loss Statement. These reports in turn allow you to analyze your business and make educated financial decisions. Too many people blindly run their business, not even knowing if they are making a profit or not. Don't let that be you.
You can explore my most popular articles above, and you can also find my free Etsy bookkeeping training on YouTube. This playlist will walk you through your Etsy shop bookkeeping, step-by-step.
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-Sarah
Small Business Sarah