Are accounting software's too expensive for your new, small business?

Over the last few years, I've had many potential calls with small business owners that I've discussed using an accounting software, like QuickBooks Online or Xero, I get the response that they are unable to afford that at the moment. I completely understand. And with some of these companies raising their prices regularly, it doesn't help!

Don't fear, there are manual ways that YOU can keep track of your income and expenses and still provide your tax preparer with a solid set of numbers!

First - I want to address that you need to really set time aside to do this regularly! I recommend 20 minutes a week, but you could do it monthly. Just write it down as you go because when January comes around, you will forget half, lose receipts and just be flat out stressed trying to get those numbers for your tax preparer by the deadlines!

Good ole school PAPER! Yes, I said paper. And I know most young business owners will think I'm crazy for mentioning it! I have a free printable available to download. It's super easy to use. Print and take the time to write things down weekly or monthly! You could get a small binder and keep plenty of copies.

Excel - Now I'm talking to that younger generation...I think! You can create your own or purchase my easy to use excel bookkeeping spreadsheet (coming soon). Similar to paper, it's mainly about taking the time to actually put it in the spreadsheet regularly! My spreadsheet will add up the tabs as you go and create a "Profit and Loss" that you can review and/or print at any time. This is great if you do tax projections or planning with your tax professional thought the year or just need to know where you are at.

Pro Tip - Put 20 minutes a recurring event on your calendar on Tuesday morning to enter income and expenses for the last week. There - it's a schedule time already in your calendar! Now just do it.

Of course, if you want even more easy - QuickBooks Online and Xero both can be connected to your bank accounts, and it feeds the transactions in. All you have to do is code it and done. Also, super simple - and great if you are exclusively using business accounts and not mixing things up with your personal accounts.