Last year, while running a small, boutique bookkeeping firm, I somehow got 9 months behind on my own bookkeeping and it totally sucked trying to catch up. Go ahead and quietly judge me, but I know you are well aware of the instances of "the cobbler's kids have no shoes" in your life.
So, we're 6 months in and dare I ask, how many of you are behind on your bookkeeping or haven't even started?
That's ok. Shit happens. Life happens.
The good thing is financial services are finally understanding this beautiful, helpful thing called technology. For years it seemed as if the industry was going out of its way to create websites that literally wanted to make you throw up in your mouth or they looked like they were held together with the virtual equivalent of gum and string.
So, here are two amazingly awesome, easy-to-use tools for you to get your bookkeeping together. If you've totally forgotten why I'm so damn enthusiastic about bookkeeping, remember, it's because we're talking about business and in order to know your business, you MUST know your numbers.
Xero Tax Touch
Xero Tax Touch fucking rules. Yeah, it does. Pull out your phone right now, if you're on it, go to your app store or whatever it's called on an Android and download the app. Sign up and connect your bank accounts and credit cards that you use for your business by providing your user name and password. The app will set up a data feed with you bank. Once the feed is set up, it will ask you to classify your transactions by bringing up recent transactions, one by one. All you have to do to do your bookkeeping is swipe left for personal expenses and right for business expenses. When you swipe right, it'll give you different categories to choose to further categorize your business expenses (and income).
The app is perfect for a freelancer or someone with a non-complicated, service-based business. If you're too busy to learn bookkeeping or you can't really afford a bookkeeper at the moment, please use this to at least help you keep track of your shit so tax time isn't hell on earth for you. The bonus is, it'll give you reports that will help you estimate how much tax you'll owe. HOW COOL, right?!
Quickbooks Self Employed
Quickbooks Self Employed is like a very light version of Quickbooks. It'll do the same thing as Xero Tax Touch, but more. The reporting is a bit more robust and you can snap pictures of your receipts so you can look back on them like photos of your friends, jk. One of the sexiest features, like with Xero Tax Touch, is the ability to anticipate what you'll owe for taxes. This is HUGE for solopreneurs, freelancers and small business owners.
You guys, NOTHING THIS COOL has ever existed for freelancers before. So stop dicking around and exploit these amazing resources. No excuses (even for me) not to have bookkeeping done on the reg. Even better, if you sign up here, I can hook you up with 50% off your subscription for 6 months.
Remember, if you know your numbers, you know your business.