AccountingFilter: ready to get my act together. How?
August 19, 2011 6:20 PM Subscribe
I'm self-employed. How do I keep my books when I've never kept any books?
posted by anonymous to Work & Money (11 answers total) 19 users marked this as a favorite
I'm self-employed as a writer. I usually make less than $25,000 a year. I have never kept any formal books -- or any books at all. I've been winging it for years, by just sending out invoices I create in Word and saving them in a file on the computer. I deposit payments into my bank account (not a separate business account). I've been filing taxes using H&R Block online (based on the 1099s my clients provide), sorting through receipts but often taking "best guesses" for my expenses. I'm ready to get it together but have no idea where to start. Do I need to do anything to clean up my books retrospectively, or should I just find a system for going forward? Any suggestions for software? Should I get an accountant, and how appalled will they be at my current lack of organization? Posting anonymously because this is embarrassing!