Free Bookkeeping Software for Small Business (EASY TO USE) - YouTube

Are you tired of trying to figure out how to get your business bookkeeping done the

easiest way possible?

Well, I'm here today to talk about what my favorite software is to use for bookkeeping

and tracking expenses, and you may be surprised that likely you already have it on your computer,

and I'm so excited that you landed on my channel where I show up every single week to talk

about business, family and finances.

Make sure to subscribe and hit the bell to get notified.

So, let's get into it.

Let's talk about the simplest way to track your expenses, so you can get it done fast

and easy without having to have your accountant do all the work for you.

First up is my favorite, favorite tool and that is using Excel.

So, whether it's Excel, or Google Sheets, or Numbers, whatever it is, it is a crazy,

crazy simple system to use that is very customizable to make sure that you can create the exact

recordkeeping system that you want to track every little thing that you need, where you

can automatically calculate exactly how your business is doing at any given time of the

month.

So, seeing what's your profit is versus whether you're losing money, it also will go through

and calculate all of your tax deductions.

That is how customizable that you can make it and even more than that.

But, if you are trying to start out super simple, then what you can do is just start

with Excel, and just start as basic as you can where you're listing out columns, things

like the date of the transaction, and who you're paying, what the dollar amount was,

something as simple as that, and make sure that you are always documenting what the business

purpose is of that expense.

If all you do is that,, you are right on track with tracking your expenses and your income,

and putting together a bookkeeping software that works.

That's actually how I started, and over the years as I worked with my accountant, and

tried to make things easier for me at tax season, that's when all the sudden I started

adding in the customization, so that it does all the work for me, and that is something

that you can do too.

You will love it.

If you want to learn more about my customized system, we can set up a strategy call to talk

about what your bookkeeping looks like and how we can make it super, super simple for

you.

Currently, there are a few other services online that are free to use that you can use

to do your bookkeeping and track your expenses.

So, currently a few of the top talked about websites that you could look at if you do

not want to go the route of Excel is a website called Wave.

Now, Wave is a free accounting software.

I do not have any experience with it, so I'm just sharing the basics about it.

So, if you want to look at it, you can go see what it's all about.

See if it's a good fit for you or not if you know that Excel is not the way you want to

go.

So, Wave does do accounting and invoicing and offers a way to provide receipts.

Now remember, this is again all things that you can do inside of Excel, Google Sheets

and Numbers, but if you're looking for an online service, that could be an option for

you to consider.

Two other services that are highly talked about are ZipBooks and SlickPie, and I'll

mention all these in the description below where you can go and look them up, see if

it's something that fits you, but they are some of the most recommended online services

that are free.

But, of course with free comes shortcomings.

So, there are limited things that you can do in them, and if you want to have more capabilities

or you want some assistance with it, those are things that you end up paying for.

Now, I want to know, what are you guys using right now for your bookkeeping software?

Leave me a comment below.

Let me know.

Are you using Excel?

Are you using pen and paper?

Are you using Quicken, QuickBooks or one of these online services?

Or maybe you're not doing any at all yet, and that's okay because we all have to start

somewhere.

But, you do need to make sure that you get started right away, right away.

The best time to actually start doing bookkeeping for your business is the day you start that

business.

But, the second best time is right now.

So, don't procrastinate at all because you are actually setting yourself up for some

issues when you are not doing your bookkeeping.

Some of those issues can be that you are definitely missing out on tax deductions because of poor

recordkeeping, and you also run the risk of being qualified as a hobby rather than a business,

which means if you're not running your business as a business, and the IRS deems you as a

hobby, then you miss out on the opportunity to even claim tax deductions for your business.

Also, you are completely in the dark on how your business is doing.

You don't know if you're running in the red or if you're doing awesome with profits.

That is stuff that you need to know on a day-to-day basis, and it's just as important to be tracking

your mileage along with your expenses.

That's another reason why I love Excel so much because you can track all of your mileage

right there, and it's so simple to do.

Make sure to stay tuned because we will be going more into depth with that training inside

an upcoming video.

So, what happens if you are not computer savvy, but what if you feel like you're the type

of person that needs a Bookkeeping for Dummies, or you just need a pen and paper and you can't

really do anything else?

Well, the good thing is number one, Excel is just like a pen and paper.

It's so easy to do guys, but if you want to stick with pen and paper that is totally fine.

It's totally fine.

You can find Excel templates to print out and use pen and paper.

You can just grab a notebook and draw your own columns where you are recording just that

basic information that you need, and if you want to hear exactly what that basic information

is that the IRS expects you to be tracking with your bookkeeping, then make sure to check

out this video because we went much more into depth in there sharing what all you need to

be tracking.

Now, the last thing that I want to talk about is when you need to get paid accounting software.

Because Excel is so customizable, there are many opportunities that you can use it to

do almost everything that a basic accounting software tool can do, but there are things

in there that you simply can't do.

For example, if you are wanting to have your payroll be integrated right into your accounting

software, that is a time where you definitely, definitely want to get a paid service, because

with that paid service, you can be setting up payroll to automatically be calculated

and paid out to your employees.

So, that would for sure be a time where you need to consider it.

You may also decide that you want something that you don't have to customize yourself,

that is already done and you would rather just pay for the software, and pay for the

training on it so that you can just use it and be done with it.

That would be another time that you may consider paying for accounting software, and of course

if you are trying to track anything that you simply do not know how to calculate it, things

like trying to track the depreciation of, for example, real estate properties, so that

you have all of that figured out for your accountant come tax season, things like that.

If it's over your head, then again, that's a time where it's much worth your money versus

your time trying to figure it out on your own.

Now that you know which free bookkeeping software is out there for your small business, what

about how to actually get your bookkeeping done in just five minutes?

It's totally possible guys, because that is how I do my bookkeeping every single day,

just five minutes and that's it.

Well, I go into more details about how you can actually implement that in a free webinar.

So, you can grab that link in the description below, and if you want to join a community

of women just like you, make sure to check out the 21 Day Mom Fog Challenge.

That is a challenge that I participated in myself and absolutely loved it.

It turned around my ability to be and have awesome time management so that I could get

things done with my business, and still have time to have fun with the kids.

So, if you would like to join me in there, get free mentoring from me as you go through

it, again, that link is in the description below.

If you liked this video, please let me know by leaving a comment, liking it, sharing it

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