Hey guys! How does everyone do their accounting and admin? I just use a spreadsheet. Any more creative and efficient ways you know of?
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- Hi Yana, I've used Wave accounting for years – it's free and really easy to use: https://www.waveapps.com
- @Kash Bhatia That's very accurate! I agree!
- @Kash Bhatia There are free services that help you with your book keeping. It get's more complicated the more expenses yo uhave, especially if you to employ someone.Like you said, if you have the money simply get an accountant, then you won't have to worry about it and on top of that they can advise you on what you can do with your finances.
- @Yana Binaev All Good Yana! Ill check out Coconut
- Since I am in my starting phase I'm using a spreadsheet as well. My goal is to keep expenses low until I have another option. Motion Hatch had a client challenge week where they talked about this a bit and mentioned that you should go about it from a business perspective – is it an area you want to spend time on, can spend time on, have the expertise on or have no clue what you're doing. And the other aspect is the resources available to you – time, money, knowledge/skills.They said something along the lines of if you have the knowledge and time you do it yourself, if you have the knowledge and money but no time, outsource it via an app or an accountant who can help and if you have no clue, no time then consider investing into outsourcing.Just a rough guide as a way to think about it.
- @Rashpal Gurm Ah! Thank you for sharing!I will checkout Wave as some people mentioned it too.I have heard of Xero too, I will check it out.Have a look at Coconut app too. Seems pretty cool.I am keeping it old school for now but will see haha
- @Christina Barrett Yup that too!
- Quickbooks is also supposed to be good.
- Hey ? @Yana Binaev !There's a few free and paid services you could check out.'Wave invoicing' is free and offers book keeping tools and integration options with banks etc.There are also paid accounting software services that integrates with your bank too, such as Free agent and Xero. Xero have a 7 days free trial I think.I don't use these atm myself, but worh looking into.Let me know what you think!ThanksRash
- I don’t really know, how this works actually!
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