A lot of entrepreneurs and creative business owners aren’t necessarily always on top of their books. No judgment! Bookkeeping isn’t everyone’s forte, and it can be hard to manage it on top of all the other work you have to do. That being said, it’s super stressful when tax time rolls around and you haven’t been organized all year: you might find yourself in a frenzy, trying to pull together all your records and receipts before the tax deadline. It doesn’t have to be that way! Here are my top tips for organizing your books year round.
1) Keep your personal and business finances separate. If your business expenses are mixed in with your personal ones, it’s going to be super difficult to organize them. You can check out my article here on the importance of separating personal vs business expenses.
2) Automate it. Chose an accounting software that will link to your bank account and business credit cards like Quickbooks or Xero can be a game changer – it really helps save time and headache when dealing with your income and expenses. You will still need to categorize and assign your transactions to the proper places but with them already in your accounting software, that will save you tons of time and stress.
3) When all else fails: hire a bookkeeper. And I’m not just saying this because I am one! If you truly find it too confusing or overwhelming to take care of your books yourself, hiring a bookkeeper to stay on top of it can lift a major weight off your shoulders. A good bookkeeper will be transparent, will keep you organized, and will help you breathe easier when tax time rolls around.
If you have questions about organizing your books year-round, send me an email If you’re interested in working with me on your monthly or quarterly bookkeeping, you can contact me for that, too.
