How to organize and systemize your business finances.

A lot of business owners and side-hustlers are DIY their books – and IMHO it’s all good, as long as you’re not letting this slip through the cracks.

You went ahead and started your accounting system subscription. Got your Freshbooks or Wave for free or, went all in, with a Quickbooks Online, Xero or Accounting Suite subscription.

Now what?

How to start and what to do? Doing your books sure sounds easier than it really is. But, TBH, it doesn’t need to be that complicated.

I’m here to take the stress and anxiety from setting up your books. Because I’m so proud of you for wanting to get this not that sexy part of your business together. While doing your books is not sexy, being profitable is the sexiest portion of a business. And I’m here to help you.

First things first, I strongly recommend you looking for an automated system. Like, not a spreadsheet. If you ask me why – it’s because a spreadsheet we’ll most likely NOT USE until tax season is here. And that is no bueno.

I want you to have start a system that will work for you. Now, if you are a spreadsheet geek, go for it. Otherwise, go for an automated system. If you’re looking for free, Freshbooks and Wave are good enough. If you’re looking to invest in a system that can grow with you, Quickbooks Online, Xero and Accounting Suite (especially if you’re in manufacturing) are the way to go.

You’ll want to connect your bank account(s) and credit card(s) with your automated system, this is rule numero uno. This will allow your bank to push all transactions and all you’ll need to do is match or categorize it. No more manual entries!

Secondly, if you use a CRM or invoicing system outside of your accounting system, I’ll want you to see if there’s integration. This will make your life easier.

(I use Dubsado for invoicing and it syncs with QuickBooks Online – they’re working on integration with Xero and Wave in the near future)

Most paid accounting systems paid versions allow you to submit invoices and receive payments through them.

For housekeeping, update your settings, make sure that your bank connections are working and have a two-factor login if it’s an option.

Now that you 1) choose your accounting system and 2) have it set up, it’s time to get to what to do next.

Add time on your calendar every week, bi-weekly and monthly to go over a few items. To access my very own checklist on Trello, subscribe to my newsletter below to get access to the checklist: