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How to DIY Your Bookkeeping (& When to Just Outsource It)

I see you, DIYer! I have tons of respect for business owners who DIY their way to the top, especially when it comes to their finances. When you learn how to DIY your bookkeeping, you commit to taking your money seriously and learn tons of positive money habits, all of which will carry over to your personal finances.

That being said, the DIY life isn't for everyone. Read on to learn whether you should DIY your bookkeeping and, if you're up for the challenge, how to get started.

Should You DIY or Outsource Your Bookkeeping

The decision of whether or not to DIY your bookkeeping is entirely up to you. Anyone can learn, but you'll have to commit to the process. If you're considering the DIY route, ask yourself these questions:

  • "Do I have time to learn?" I'm not talking four years of college here, but you will need to devote a little bit of time to learning the basics. If you don't have a minute to spare in your busy schedule, you might want to outsource your bookkeeping.

  • "Do I have time to keep up with it?" You can get pretty quick with your weekly bookkeeping tasks (many of my clients have!), but you will need to set aside an afternoon or so once a month to go over your expenses and income. You can't skip this, so commit to making it a priority.

  • "Do I have the resources to learn?" Sure, you can Google your way through it, but I highly recommend finding a resource that can guide you through the process step-by-step. (Looking for just the right program? Check out my Be Your Own Bookkeeper course!)

Whether you've been in business for a while or you're just getting started, you can learn how to DIY your bookkeeping.

How to DIY Your Bookkeeping

Ready to get serious about your finances? Follow these steps to get started!

1. Get Organized

Before you can start making money moves (cue the Cardi B), you need to get a good handle on where your business stands financially.

First and foremost, make sure you're using software like Quickbooks Online to manage your income and expenses. You can connect this software directly to your business bank account to keep everything happening in one place.

Next, run your numbers! How much revenue do you bring in each month? How much are you spending on expenses? Are you setting aside enough for taxes and an emergency savings account?

This first step is crucial to the rest, so don't be afraid to ask for help here.

2. Set Realistic Goals

Bookkeeping isn't just about watching the money roll in and out. It's also how you strategize making more of it!

Once you know how much you're making (and spending), you can set some goals for the coming month, quarter, and year. Would you like to bring in more revenue? How much, and in what time frame? If this will require a bigger marketing budget, how much will that add to your expenses? Or maybe you could decrease your expenses to increase your profit? What can you cut from your budget?

The closer attention you pay to your money, the more of it you'll start to find. You'll be hitting your goals in no time!

3. Create a Routine

If you do it right, bookkeeping shouldn't take tons of time out of your day. That being said, you do need to devote some time and energy to your bookkeeping routine.

Every day...

  • Check your bank balance

  • File business-related receipts

  • Open financial mail and act

  • Invoice clients

  • Log business auto mileage

  • Deposit cash/check

Every week...

  • Log and categorize expenses

  • Log and categorize income

  • Send invoice reminders

  • Check-in on financial goals

Every month...

  • Reconcile all bank accounts

  • Reconcile all credit cards

  • Reconcile all loans

  • Review Profit and Loss

  • Review business budget

  • Calculate tax savings

  • Savings transfers

  • Review for business expenses in personal accounts

  • Update home office tracking

  • Update auto expense tracking

  • Record petty cash expenses

  • File sales and payroll taxes

Remember: bookkeeping is a money-making task! It's not taking time away from your business, it is your business.

4. Keep It Up!

The more you practice, the better bookkeeper you'll become! Stick to your routines, be mindful of your spending, and keep crushing those money goals.

Want to become your own bookkeeper?

You're in luck! In my brand new course Be Your Own Bookkeeper, I'll teach you exactly how to manage your expenses, maximize your profit, and increase your personal income through your business - all without outsourcing your financial management. Click here to join the waitlist!


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Feeling unsure or worried about the accounting side of your business? Download this free guide with 3 steps to financial confidence in your business.

Ready to hand over your accounting? Download my services guide and let's work together!


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