Hi all! I’m a small business owner in the pet care industry, and I’ve been in business going on 7 years now. For the first few years I did most (~75%) of my business as an independent contractor for an established company, and the bookkeeping was easy. The clients paid the other company, that company paid me, and the only expenses I really has to worry about were insurance and incidentals. Even as I started to get more of my own business, the bookkeeping wasn’t too difficult. Client would pay me with cash or check, I would deposit into my business account, nice and easy to reconcile. I’ve been using a single-entry spreadsheet for years, and that had always been fine. But, a few months ago, I started working on some expansion things, including industry specific software that handles invoices, and the ability for clients to pay me using PayPal. And… I’m suddenly floundering. I have software that tells me how much I’ve grossed, but that all goes into my PayPal account before my business bank account ever sees it, and then there are the automatic fees that I don’t know how to account for, and the fact that a single PayPal transfer could cover multiple clients and multiple invoices… I have no idea how to record that, and my spreadsheet isn’t cutting it. I’ve tried Quickbooks in the past and found it super overwhelming. Part of me says I should hire a bookkeeper, but I honestly don’t think I can afford it yet. Thoughts, ideas, help??
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Author Of this post: /u/jfinner1