Keeping track of orders and expenses

[Nathan Shaffer]

Greetings to All,
Noobie question. Does anyone have an free electronic way to keep track of sales, orders and expenses? I am trying to figure out how to keep track of all of this for tax time to try to avoid any tax issues. I will be operating has hobby/side business, making extra money is golden, but having fun is priceless!

Thank you for any and all advise.

Very Respectfully,
Nathan Shaffer

['Jacques Malan']

Small Office, home office. I use them for my occasional attempts into money making.

www.sohoos.com (http://www.sohoos.com)

[Jiten Patel]

Set up an Excel spreadsheet - different tabs for different income streams should this apply.

You want an Expenses tab. In this tab, you want the date in column A with all transactions next to them (column B) with a small description and their total value (column C). Then in the next columns (D onwards) you want is split the total into what the expense is for....Stock, sample stock, printing, courier, marketing, equipment, travel, office costs, phone etc etc.

Set up the same for Income - date, description (with invoice number) and total value. You do not need the other columns for this.

This book keeping method needs a matching physical filing system - all receipts and invoices in the date order, and they need to match up what's on the spreadsheet to the penny or in your case cent! This method is perfect for any accountant to do your taxes etc for you. Make sure you log things in a timely manner and get into a routine of doing so. Do not get behind or lose/misplace receipts as you need to keep everything!

Hope this helps.

[Mike Null]

Buy Quickbooks. It doesn't cost much and it does everything you want and more.

[Walt Langhans]

Quicken will link with most bank account and pull in into the program and save you tons of time.

[Mike Chance in Iowa]

There are lots of "free accounting software" programs available on the web, but I think most of the people who actually post on SMC are using accounting software they purchased for their business needs. I have used several accounting programs over the years and currently use Quickbooks. GnuCash is available on all OS platforms and is free. Freshbooks has a free version too. OpenOffice has a free spreadsheet program called Calc that is similar to paid versions of Excel or Lotus.

[Tim Bateson]

I didn't think this forum allowed such fowl, profane language such as that 3 letter word. :rolleyes:

I bought Quickbooks, but seriously, there is nothing quick about learning it.

[Michael Hunter]

Can someone recommend an inexpensive book-keeping program that easily allows for specials and one-offs?
AND is fairly easy to get started with!

A few years ago I tried the free version of the (then) Microsoft book-keeping/invoicing software, but found that I had to make a "catalogue" entry for each thing before I could give it a price.
This was very time consuming for the specials and even the repeat things were difficult if quantities (and therefore discounts) changed.

I'm now using a spreadsheet to keep track of prices, but invoices are done "by hand" - no real automation here!


Thanks

[Bill Cunningham]

25 years ago there was not much of this software around, so I like Jit, set up a spreadsheet and have been using it for just shy of 25 years now..I works for me.. And you can even get free software from Sun Systems (oracle) just google them

[Nathan Shaffer]

Thank you all for the recommendations!

Respectively,
Nathan

[Mike DeRegnaucourt]

I didn't think this forum allowed such fowl, profane language such as that 3 letter word. :rolleyes:


Hi Tim! I'm confused, which 3-letter word are you referring to? I know you were just being funny.

[Brian Elfert]

I used to have a small business and I tried Quickbooks. It was very difficult to use and I ended up getting my uncle who is an accountant to try to help. I gave up on Quickbooks and just paid a bookkeeping firm $200 to $300 a month to do the books and also issue payroll checks. Ironically, the bookkeeeping company used Quickbooks.

[dennis thompson]

Hi Tim! I'm confused, which 3-letter word are you referring to? I know you were just being funny.

Having just finished my taxes ,I think Tim means the word "tax"!
Dennis