Bookkeeping for Your Online Business
Almost every aspect of building your business feels more enjoyable that dealing with bookkeeping. However, your business finances are important.
Fortunately there are people like me out there who actually enjoy bookkeeping.
I'd be honored to help you get your online business bookkeeping set-up and help you understand the basics of your business finances so you can get back to the parts you enjoy!
So let's dive into this and get you on your way. I promise to make this as painless as I can.
The Benefits of Setting Up Your Bookkeeping
I'm going to let you in on a secret. There are many benefits to setting up your bookkeeping at the beginning of your business.
1. Save time with automations
2. Know your business numbers
3. Save money and do-it-yourself
4. Be ready when tax time comes
How To Use QuickBooks Online for Your Online Business
While there are many different ways you could do your business bookkeeping, the best software for most people is QuickBooks Online.
It's one of the most robust accounting programs for small businesses, and it's the one I recommend to my clients.
There is a learning curve to QuickBooks. That's one of the reasons I've created a library of QuickBooks Online tutorials for online business owners. You can access them below.
If you love step-by-step video tutorials, then you should check out my YouTube Channel. You'll find trainings for bloggers, Etsy sellers, eCommerce, and more.
If you're looking for a way to make your business bookkeeping and taxes as painless as possible, be sure to check out these blog posts.
QuickBooks Online Tutorials
Ultimate Guide to Blog Bookkeeping Using QuickBooks Online
How to Record PayPal Transactions in QuickBooks Online – 2019 QuickBooks Tutorial
Select the Ideal Start Date for your QuickBooks Bookkeeping
Why Bookkeeping and Taxes Matter
When I was a new online business owner way back in 2012, there was A LOT I had to learn. However, the one thing I already knew was how to do my small business bookkeeping and taxes.
With my trusty accounting degree and CPA license, I was confident about crunching the numbers for my business.
Now I realize this isn't true for most people. I'm guessing that you you might dread bookkeeping and taxes!
And I get it. There are too many other more exciting things to do to grow your business. Who has time to worry about bookkeeping?
But before you get started on another project, let me encourage you to set aside some time to deal with your bookkeeping and taxes.
While it's possible to get away with ignoring your business bookkeeping and taxes for a little while, at some point you've got to face the numbers.
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 the bookkeeping for your business and file your taxes at year end.
Probably the most important reason to spend some time on your business bookkeeping is that bookkeeping allows you to produce financial reports like a Balance Sheet and a Profit & Loss Statement.
These reports help you 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.
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Small Business Sarah