Jessica Gottlieb is a speaker & blogger (http://jessicagottlieb.com/). In this video she discusses setting up your bookkeeping.
- Utilize cloud-based accounting- QuickBooks Online
- Use a credit or debit card that links directly to QuickBooks
- Open a business account that integrates with QuickBooks
If you want to set up your bookkeeping to be like what we call an easy-peasy, go with the cloud-based accounting system. People love QuickBooks Online and there is no software, if you switched computers, you’re in you’re out. It’s easy.
People also love having American Express credit card. I also love my bank’s debit card works really well and it links straight to QuickBooks.
I happen to also use a debit card for that reason instead of checks because everything just go straight into QuickBooks, and all you have to do is just kind of label them go, “Oh look that was a subscription and that was entertainment and that is whatever it is.”
So, so much of your accounting is done for you if you use these accounting solutions.
Your business bank account, please, please make sure you‘re not using your personal checking account here. Again, this is not a hobby. This is your home-based business. You should have a business bank account and most of the larger banks will integrate seamlessly with QuickBooks, because again we’re just working from home. We don’t want to have an Accounting Department. We want everything to just integrate quickly and easily.
At the end of the day, this is a business. We’re running our businesses from home and we need to get paid. Make sure that you have a good accounting system set up and that you can keep track of all those outstanding invoices.