Sunday, January 20, 2013

What are your bookkeeping tips?

I am in desperate need of your advice!  What are your best bookkeeping tips?  I suck at keeping track and I know I should do much better than I am.  It is just not my thing and I am in a panic for the upcoming tax season.

I have all my receipts separated  by months, it is the mileage records that are a total mess.  It is going to be messy that is for sure.

If you have any help or ideas, please reply in the comments.  I would greatly appreciate it and will share all the tips in a future post.

Maybe I should just hire a bookkeeper... LOL!


Wendy said...

Umm... I have no clue what kind of advice to offer you... Possibly download quickbooks?

I'm very curious to see what kind of responses you get!

feetinwater said...

grab a mini notebook to keep in your purse or in the glovebox to write down your mileage everyday.

Sew Inspired said...

I find a simple excell spreadsheet is the best. It can become a profit and loss statement for taxes. You can also include a column to keep track of your monthly mileage, heating costs, room usage, etc. that is separate from your bookkeeping, but is already for tax time. You can check out the IRS site for puplication 17 to see what you need to keep track of for schedule C tax deductions. Hope this helps.

Lisa Richardson said...

Thanks so much for the input. I will post later on my personal progress with my 2012 bookkeeping.

Crystal in Texas said...

I have to say...the Milebug app for the iPhone is the greatest for mileage record keeping I've found. I always have my phone in hand when I get in the car so it's very convenient to use. And I use Quicken for Personal & Business, plus spreadsheets to track my purchasing of inventory and for when it sells. I always know where I got it and how much it costs and the costs associated with the selling of it, specific to the venue...Amazon, eBay, etsy...etc.

Into Vintage said...

I keep a notebook in the car (on the seat next to me where I can see it) and record mileage and anything I buy that day where I don't receive a written receipt (yard sales etc).
It took a little time to get in the habit but makes life so much easier at tax time.

Apron Thrift Girl has a simple re-sellers spreadsheet for sale on her blog too - $8 I think.

Margaret said...

Hi, just found you through Treasures in Thrifting Land. Great to find another ebay seller! Great blog!

Margaret @ Live Like No One Else

Lilia Costales said...

Get a mini note pad or download an app from your app store if you have access to it. Don’t forget to record all data in excel or spreadsheet, so you can easily track the overall progress of your finances after a month. This is so you won’t have a hard time organizing it when tax season comes.

Lilia Costales

Elias Brasel said...

Indeed, maybe you should just hire a bookkeeper. But as for the tips, here’s what I can give you: start by making an effort to be more organized, like keeping your receipts and tax compliance right. You can go digital by storing them on your computer or just be organized and keep them all in a decent cabinet. If you can’t, then it’s best that you just hire a bookkeeper. Elias Brasel @ On Core Bookeeping Services

Herman Thompson said...

That’s a thing that almost every business owner has to face eventually -- bookkeeping. It's a good thing that there are a lot of ways to make this task easier, like manually writing it on a record book, taking some short courses about bookkeeping, or signing up for an online bookkeeping system. If all of that still doesn't work well with you, then it is best that you hire a bookkeeper to do it for you.

Herman Thompson @ AccountAbility Plus