Keeping track of where your money comes from and where it goes is crucial… not only for keeping track of how well your business is doing, but for your own sanity. If you’ve balanced your home budget, you have some of the basic principles down, but businesses have additional considerations that will come into play at tax time.
Free Resources to Learn Accounting
While you can also take classes from your local Small Business Administration or community college, there are resources online where you can learn the basics of small business accounting
While you can do your bookkeeping on paper or a simple spreadsheet, there are lots of options for accounting software out there, and some of them inexpensive or even free. When choosing accounting software, consider:
- Does it integrate with other business software you’re already using?
- Do you need it to handle client invoices and billing? Online payments?
- Does it have a mobile app?
- Are there video and text tutorials to help you learn how to use it?
Some software options include: