I’ve put together a workshop on an absolutely vital, but not-so-fun topic – yes, bookkeeping.
This workshop is aimed at those who don’t have a solid bookkeeping system in place, or who do a poor job of maintaining their bookkeeping on a regular basis.
I hope to convince you why keeping on top of your books is not only important for tax time, but also for the growth of your business in general!
I’ve also put together a downloadable xls spreadsheet for those who just need to get started with a simple bookkeeping system today.
If you’re watching this in the future, you’ll just need to update the dates. Or, you can use this spreadsheet as a guide to create your own!
You can download it below. I used a spreadsheet exactly like this one for my first 4 or so years in business.
I cover income, expenses, deductables; talk a bit about profit and loss; why you should separate your personal and biz finances; and give you a ‘to-do’ list to get you going.
If you have any questions about bookkeeping, please leave them in the comments below, or in the FB group.
Do keep in mind that I can’t help you with anything related to tax laws and requirements in your country, but I can help with general questions.
(This workshop was first published – Nov 2015)
Great workshop Jess, I actually did enjoy it.
Today I paid my Etsy fees and Madeit fees, so have downloaded the spreedsheet and added those to my expenses. 🙂
This was a great video Jess. I have a major tendency to go spreadsheet crazy and make things more complicated then needed. I think for my accounting side I can simplify things much more now and still be okay. I know for me the two areas I struggle in to get organized are bookkeeping and inventory. When I buy materials how to keep track as they are used and then products made what went into them. Will you be possible doing any webinars on that documenting inventory that is raw(not used yet) vs when it is turned into a sellable product, and then keeping track of what’s in the shop and sold that year, if that makes sense? Thanks can’t wait to watch some of the older workshops now and get caught up.
This is the first workshop I’ve watched Jess and I love your down to earth conversational style. I’ve seen some videos of people and they’re all professional, dressed up to the nines and perfect make up. You are someone who the every day person can relate to and not feel like a fail because we don’t dress up like a supermodel every day! Thank you!! I actually watched a workshop once and she said we should be doing this because the way we look is the visual representation of our business and proves we’re taking it seriously! Just can’t do it!!!
I was always putting my receipts in one box and feeling like a fail for not being more organised, so thank you! At the moment though they’re all over my desk and who knows where else. I spoke to my brother in law recently who is a forensic accountatnt. He said these days the tax people like you to scan all your receipts and have an electronic version of all of them, therefore eliminating the shoe box. So just thought I’d put that in there if its helpful. Don’t think I’ll get round to doing it!.
Cheers.
Rachel
Awesome work!
Christine, that is a really great topic idea. I think this can be super-important for people who have a LOT of different raw materials to keep track of. It’s not something Iactually do myself, because Ihave a quite small range of basic inventory of raw materials. But I know there are some great pieces of software out there that can help with inventory management – like craft maker pro.
Rachel – I do think digital is the way to go, so thanks so much for reinforcing that. And thank you re my personal style, too – I believe it’s important to be professional – but that doesn’t mean you can’t be authentic to who you are. I never wear makeup in real life – so I only put the bare minimum on in any filming so I don’t look washed out by the lights – and I dress like I nomally dress to go out in public 😉 We’re creatives, and we have the benefit of being in an industry where we don’t have to ‘put on a mask’ like many people in the corporate world do. 🙂
I enjoyed this workshop. I have a separate bank account and PayPal account so it was nice to be reminded that I was on the right track. I have been using the spreadsheet but I decided that I really should start using accounting software whilst my business is still small so I get into good habits from the beginning. I have decided I want to use Xero because I can pay by the month and after watching quite a few of their little videos it looks very easy to use. I’m just not sure if I should go with the package that deals with multiple currencies (I sell in US dollars in one of my Etsy stores) or whether I should go for the mid range product. I am going to do the free trial and see how it goes and then make my decision. Thanks for all the great info, Jess. 🙂
I’ve just finished watching this and yes it was a great kick up the pants. This may have been written for me. I need this! Thank you for demystifying something that I can safely say I have been avoiding. I would have been just like you in your first year and had a nightmare at tax time. But you’ve saved me! I have downloaded the spreadsheet and will start TODAY. Thanks. Lani