in Uncategorized

What I Wish I Knew (No. 1): Keep Your Accounting Organized from the Beginning

I find myself often thinking the following: Man, I wish I’d known this 10 years ago before I started trying to build this business. Somebody should write this down for the 25-year-old working on the Next Big Thing.

So here’s one that I thought of today. Keep your numbers in some sort of accounting software from the beginning. I kept a spreadsheet, and it’s been a nightmare trying to retrofit it for accounting purposes.

There are plenty of online offerings for small businesses — I now use Zipbooks — and most of them have a free version (you can switch to the paid version later on). Even if you made $82 in Year 1 (which may have been generous for me!) you should keep everything organized properly. You’ll be able to scale later and won’t spend valuable emotional and mental capital trying to get everything flipped over.