The Nitty Gritty of Owning a Business
Running a successful small business is difficult and keeping spending in check is vital. It’s incredibly easy to get caught up in the fun of filling your boutique or shop with all the products you want to offer your customers. Trust me…I know. One thing that has helped me keep things reigned in is Quickbooks Self-Employed. I’ve used Quickbooks and the self-employed option, and in my option, Quickbooks Self-Employed for boutique owners is the best way to go, and I’ll tell you why.
What Does Quickbooks Self-Employed Offer?
Quickbooks Self-Employed offers several features to help better organize your finances and prepare for the tax man. Below are a list of my favorite reasons for using and recommending Quickbooks Self-Employed for boutique owners.
My first two years of business, I didn’t use my mileage as a tax write-off and it’s not because I didn’t want to, it’s because I didn’t know how. I was overwhelmed by the thought of being audited for doing it wrong. Quickbooks Self-Employed functions primarily on your phone, and with the location activated, it logs your mileage! With the swipe of a finger, you categorize a trip as personal or business. How much easier can it get?
No more manually entering your purchases or sales transactions because it will auto sync for you. I personally have chosen to link my business account and business credit card, and that’s it. I have other accounts I use for my business but it gets too confusing, so I worry about my in and out accounts only. Determine what system works best for you and roll with it!
In addition to the amazing mileage aspect, it allows you to create rules so you don’t have to categorize every repeat item. Upon logging into Quickbooks Self-Employed, it will tell you how many items were automatically categorized and give you the option to review them. Talk about a time saver!
Your Quickbooks Self-Employed profile will keep up to date with your tax estimates. Quarterly and yearly tax estimates are provided within the program. Ask your tax professional for which route you should go on this because no tax situation is the same.
Most note worthy, is Quickbooks Self-Employed can provide you with your profit/loss for any time frame. Want to know how you’re doing this month, select current month. Want to know how you’re doing year to date, select year to date. The ability to filter the information you want to see feels endless.
Basic Tax Prep
Whether you choose to auto import into TurboTax or print your reports, they’re all easily available to you. You’ll be able to save or print for whatever method you choose. Everything you need is all in one place with Quickbooks Self-Employed and it doesn’t get much easier than that.
A Business Owner Wears Multiple Hats
The list of tasks in order to accomplish in order to successfully run a business feel endless at times. For this reason, I always look for ways to decrease my work load and increase my productivity. You’re going to pay for everything, and what you need to decide is if you’re going to pay in time or money.
If you want to see if this is right for you, try out Quickbooks Self-Employed and receive the first 6 months for only $5.00, which is half-price!