Working on end of year accounting. I just bought godaddy bookkeeping and I already have inventory lab. Thinking… do I really need both of them? And for those who use godaddy bookkeeping, do you just enter all your receipt totals? Are you entering all your expenses and mileage, etc in both programs? Seems like double the work but I noticed that some AZ sellers do have both. Clarity of understanding would be awesome.
A HUGE start is simply to have a single checking account for business. Only business income or whatever investment you are making goes in and ONLY business expenses come out. If you are paying yourself, write yourself a check so that it’s clear. Then all of the bookkeeping falls into place pretty easily.
I also failed to log my mileage the first couple of months. I think I can go back to all my receipts and shipping dates so I can see when I was actually out, where I went and then calculate the mileage. I knew better, was just lazy. Now paying the price. Never again. I log as I go.
Please login first to submit.