Click to share:

hands-money-piecesSimple Bookkeeping Basics For Women Entrepreneurs (Guest Post, Kendall Summerhawk)

When I first started my business, I kept track of my own receipts–income and expenses–in a very rudimentary way. I was only seeing my own clients sporadically, on a part-time basis while I was working a job, so this was sufficient.

Once I transitioned by business to full time, the tracking became more complex and cumbersome. I hired an accountant to do my taxes but still kept the task of recording my income and expenses on a two-column sheet of lined paper. 

I hated dealing with it every month and at the end of every year. It took a long time and it was not something I enjoyed or was good at. And as my business grew, as I added more expenses and dealt with several business credit cards, the complexity became overwhelming. Eventually I realized it was time to hire a book keeper to help me. 

If you're in this boat right now, read this article by one of my mentors, Kendall Summerhawk, to learn some simple things you can do to make this task more manageable until you are ready to turn over your books like I eventually did.

[Read more…]