Should you be your own bookkeeper? Learn what it takes to be in charge of your own finances.

You have your own business. You’re a proud entrepreneur. You’re making a positive impact in the world. But how about the impact in your own business.

There are a few things to consider before thinking about being your own bookkeeper:

  • Do you have some knowledge of finance
  • Can you be diligent and organized
  • Is it cost effective
  • Do you have the time

The most important aspect is the time. Everything else can be learned.

If you answer yes to all 4 questions, keep on reading for some tips on how to get started!

First, read our very own “7 Bookkeeping Tips for Entrepreneurs“, that’s a very good starting point.

  • Choose your system to track your expenses: It can be a simple spreadsheet, a notebook or a cloud based system.
  • Keep the receipts somewhere: it can be a bin, picture on your phone, a file on your computer. Make sure you have it.
  • Choose your system to track your income: Keep the money coming in. Make sure you know when and from where it’s coming from. If you’re a service based business, don’t forget to send your invoices.
  • Have your budget, and keep track of it. Change as needed.
  • Know what your ”need” income is. This is the income to cover your business expenses and pay yourself.
  • Make time to review your finances. It doesn’t need to be everyday, nor every week. Once a month will suffice.

You can always work with a finance professional to help you optimize the deductions you can use for your business.

If you want to be your bookkeeper – we know you can do it! All you need to do is: be diligent, be organized. That’s it!

If you’re looking to to outsourcing or to learn a little more DIY your bookkeeping , contact us for a free consultation.

We can’t wait to hear from you and be a part of your journey.