Routines are so important when you’re running a business. They help keep you focused, accountable and provide structure so you can do business in an effective and efficient way. This is especially true with a bookkeeping routine.

They also help you make sure you’re getting paid, handling your bills and staying on budget – all pretty important parts of being successful!

It can be a bit overwhelming to start implementing bookkeeping routines when you’re not sure where to begin, so let’s dive into how you can get started.

First secret: your monthly routine includes a weekly routine. And it doesn’t have to be onerous. Find a comfy place to set up and grab your favorite drink. Set aside a chunk of time to really look over your numbers. It doesn’t have to be much time – I find about 20 minutes is the sweet spot. That’s enough for you to get something done without getting overwhelmed. 

So now that you’re set up, what do you look for in terms of income on a weekly basis? Well…

• Have you invoiced all of your clients?
• Have all of your clients paid?
• Is there any outstanding work you haven’t done so you CAN get paid?
• Do you have any holdbacks from credit cards?

And what about expenses? You’re going to want to…

• Download and categorize your expenses
• Look at your bank and credit card statements to make sure your charges and purchases are legitimate 
• Check your subscription services to make sure you’re not paying for something you no longer use
• Make sure you’re putting some money aside for savings 

Once you’re doing this on a weekly basis, it’s time to start looking bigger picture on a monthly basis.

Every month you’re going to want to…

• Download and save your bank and credit card statements. They’re not available forever, which is why you want to keep them!
• Download copies of any checks you wrote
• Reconcile those documents in your bookkeeping system (trust me, it will save SO much time using a digital system to do this)
• Check out your monthly subscriptions and cancel anything you’re not using. I just canceled three subscriptions and saved myself $100 a month!

If you start going this weekly, when it comes time for you to give your numbers to your accountant or do your taxes, you’re going to save time, money and your sanity!

I’ve seen tons of my clients implement these kinds of weekly and monthly routines and the effect is huge. Often they realize they’ve been overthinking their bookkeeping all along—their sense of overwhelm goes down, and relationships between co-owners improve. 

The best thing is seeing business owners become empowered to make courageous, smart business decisions once they understand their numbers, so their companies continue to grow!

My 12-Month Bookkeeping Spreadsheet (which you can get HERE for free!) is a great tool to get you started with a baseline for your routines. You can use it to make running your business so much easier, simplify your numbers and get you organized, so you can get back to doing what you love.

You’ll never understand your numbers if you don’t know them in the first place, and routines are your ticket to mastering your books! 

Let’s be honest – a lot of people dread bookkeeping. It might be one of the things you find overwhelming, so you just avoid it. And sorting through all the software options out there? No thanks!

I’m here to help. Choosing the right bookkeeping system can save you tons of time, and understanding your numbers helps you make smarter business decisions. 

Before we dive into exploring the different options out there, start by asking yourself these questions:

• How new and big is my business?
• What can I afford?
• What software do I know how to use?
• Do I need to integrate other software into my bookkeeping system?
• How much time can I afford to spend on my books?

Knowing these answers will help you pick the best system for YOU. And let me be clear – the right solution might come down to something as simple as you like the user interface or you like the weekly reminders that get sent to you. 

Honestly, there’s isn’t a wrong way to figure all this out – but again, it’s important to figure out what’s best for your business!

Ready? Let’s get started!

Starting simple: what are the pros and cons of spreadsheets like the ones offered by Google Sheets or Microsoft Office?

If you’re just starting out and need a quick overview of your numbers, spreadsheets are PERFECT for you. They give you a conceptual look at your numbers that you can understand at the drop of a hat. 

Maybe you’ve been in business for a while, but you honestly have NO clue what software to use, so you need an easy-to-navigate tool to figure out what your next bookkeeping tool will be. Spreadsheets are for you. 

Big takeaway here – if you’re not even looking at the numbers yet and just trying to understand the basics, go back to the foundation – spreadsheets. 

Spreadsheets aren’t for you if you’re not able to manually reconcile your expenses or you need a bit of a data mined from what your numbers are saying (think additional reporting). Spreadsheets are just the naked truth – any kind of analysis has to come from somewhere else.

So to recap, you should use spreadsheets if you are just starting out, aren’t sure what you need and don’t need to dive into the data your numbers are telling you. You need the quick and dirty details – no frills.

What are the pros and cons of FreshBooks?

FreshBooks is a great choice if you need to invoice clients and track reimbursables. Maybe you’re a consultant and your clients reimburse you for things like travel, or other expenses. Plus, it’s easy to set up, cost-effective and it integrates with QuickBooks, so you can get the benefit of two software systems! 

FreshBooks is a great choice if you’re ready to move from spreadsheets into a proper bookkeeping software, but not yet ready for some of the more complex systems like Xero or QuickBooks Online.

Bottom line? FreshBooks is great if you are an invoice-based business and you need it to integrate with other technologies. It’s affordable and makes tracking easy.

It doesn’t offer some of the metrics that other softwares have available, so depending on the size of your business, that might be a dealbreaker. A very solid option for small business owners though!

Okay, next one.

What are the pros and cons of Wave?

Like FreshBooks, Wave is another fantastic software if you’re doing a lot of invoicing, plus it’s the only software I’m covering that has a free version so you can take it for a test drive and see if it suits your needs!

There are tons of add-ons (at an extra charge) like time tracking or payroll, and you can exclude transactions like your mortgage payments to make your life easier.

Wave might not be for you if you need to really do a deep data mine or you need a reconciliation done for you – looking at you, big businesses.

So in a nutshell, you should use Wave if you’re looking for a basic bookkeeping system that’s free, or if you’re a small business that needs to handle your accounting, invoicing, payments, payroll and receipts. It’s got great features, support and templates—just remember that some of the more advanced capabilities come at an extra cost.

What are the pros and cons of Xero?

So let’s get into Xero. It’s a clear, well-designed system that allows you to make sure all your transactions have not only been imported, but done properly, and when you need some more integration and detail. 

Also – it’s free of ads. That might seem like a small detail, but trust me, it’s lovely when the annoyance of clicking through something or waiting for a video to end is a thing of the past. 

So basically, you’ve been in business for a while, you need a reliable software that gives you more than the ABCs of bookkeeping, like being able to…

• See your bank tabs so you know everything is running smoothly
• Search for relevant transactions including transaction type, account, date, contact, tracking category
• Monitor your financial transfers

It’s not the best solution for bigger businesses that need a really detailed analysis of their numbers, but for small to medium-sized businesses , this is going to keep your bookkeeping simple and quick.

Sound like what you’re after? This might mean Xero is for you. 

Last but not least – what about QuickBooks Online?

The user experience in QuickBooks Online is unparalleled if you’re someone who needs more detail and all your systems working together so you can extract info from your receipts, simplify payroll and automatically import your sales using just one system. It has an interface that is easy to navigate and use effectively. 

Yes, it’s a bit of a pricier option and yes, they regularly increase their costs. A bummer, I know – BUT they have five different pricing options available so chances are you can find something right for you if what they have to offer is what you need! 

So if you’ve got the money to spend and you need the nitty gritty of what your numbers are telling you every month, QuickBooks Online is your jam. 

To sum it up…

There is a right digital solution when it comes to your books, and it might take a little time to figure out what exactly it is. 

And when you’re figuring out what’s right for you, remember that your solution today, might not be the one that will last you forever. 

Chances are your needs are going to change at some point down the road and you’ll need a more advanced software – which means you can’t forget about being able to export when you’re choosing! 

Trust me, you do want to be using technology that you allows you to use today’s data to prepare for tomorrow.

Final thought? I know it’s hard to figure out which software is right for you, but doing the work is so worth it. Your bottom line will thank you for it once you find it. 

I know you don’t have a lot of time – so I’m not going to waste it. Frankly, taxes aren’t the most fun…I know… and what if you’re not the best when it comes to keeping up with your tax prep? I know as a creative entrepreneur, tax prep catch-up can be an especially daunting task.

That means that for many of us, that time of year evokes a state of panic, overwhelm and a feeling of always playing catch-up. And the frustrating part is that it’s just a part of doing business – there’s no escaping tax season. Sorry, friend. 

What if you could get out of the state of panic though? Wouldn’t it feel amazing to have a solid plan in place so you’re not constantly fretting that you’re behind on your tax prep and there’s going to be a mad dash before they’re due?

Ask yourself this. In an ideal world, how would you handle your bookkeeping? I know you probably don’t want to be thigh-high in it on the day-to-day…but you need to get a handle on it before you file. Again – sorry, friend. 

I want to help. I’ve been where you are, and so have my clients. There’s an out!

I created the Understanding Your Numbers course so you can get out of the catch-up position. No more overwhelm, no more, “ughhh it’s time again” moments. 

Think swapping catch-up for caught up. These little wins are easy to implement, don’t take a ton of your time and give you the freedom to do them in just 20 minutes at a time.

Imagine how good it will feel to easily constantly caught up…and losing the overwhelm, panic and stress. What a load off your shoulders. 

To give you an idea of what a 5-day tax prep catch-up plan might look like, here’s an example:

Day 1: Download the Back-On-Track Bookkeeping Spreadsheet

Day 2: Log in to your bank and download your CVS

Day 3: Categorize, sort, total and break-out your expenses from the past month

Day 4: Schedule time to do steps 1-3 for the rest of the year (remember, you don’t have to do the rest of the year in a day!)

Day 5: Celebrate your success (Cue happy dances and double fist bumps!)

Seems a little less daunting when it’s just one day at a time, right?

I want to leave you with this. 

If you’re struggling with the overwhelm of being behind, think baby steps. You don’t have to do it all today. But do something – and then tackle another little piece tomorrow. Twenty minutes at a time is all it takes to get you on the right track. 

Heck, you started this business, which is already a huge achievement. You got this!

And always remember, baby steps still move you forward. 

Ready to get caught up in 5 days? Download the Back-On-Track Bookkeeping Spreadsheet and get started

I love talking to my clients about how they got into business and hearing the “why” behind starting their business. Almost every single one has something to do with freedom. Freedom to live life on their terms without answering to a boss, freedom to spend more time with their family, freedom to provide for themselves or for others in ways they couldn’t in their 9-5. It’s part of why I started my business nearly 5 years ago too. I wanted to live life with intention and build a business that would give me time to enjoy life and focus on the things that really matter.

And yet, it’s so easy to get caught up in the day to day of running a business and forget why you chose this path in the first place. If you are not intentional about it, your business it can easily start to suck up all of your time, often MORE of your time than if you’d stuck to working in a 9-5! Once you get sucked into that hustle mode, it’s hard to step away. It often takes something big to snap us out of it.

In December of last year, some things happened in my personal life that unexpectedly took me away from my business. It made me realize just how much my business had taken over every area of my life. I realized I had stopped being intentional about carving out time for the things that really matter to me. I was spending more and more time in my business, and I was living in a way that totally went against my reasons for getting into business in the first place. I knew I had to step back and reevaluate what was important to me and how I wanted to live my life. 

It’s ironic really because I talk about this with my clients all the time as we’re working on their bookkeeping. As we set financial goals, prepare budgets, and calculate pricing, I always ask my clients to think about how much time they want to spend in their business, how many hours they want to work, and whether their financial decisions are realistic with the lifestyle they want to live. 

I love helping my clients see the big picture of their business so they can make better decisions and run their business in a way that supports rather than consumes their life. Connecting bookkeeping to living with intention might seem like a stretch, but when done right, bookkeeping is so much more than a record of credits and debits. It can show you which areas of your business are most profitable, which areas are the biggest drain on your time and money, and what you could do differently to increase profits while making a bigger impact and working less hours. 

Many of the creative entrepreneurs I work with are hesitant to make business decisions based on “cold hard bookkeeping data” because it feels impersonal, or they’re afraid it will take away their creative freedom. In reality, the opposite is true. When you know your numbers, you have the info you need to evaluate where you are now and make decisions that lead to higher profits with less drain on your time. Which ultimately brings more freedom into your life and business.

I won’t lie, it was tough for me to face the way I’ve been running my business and realize I’d been neglecting the things that truly matter to me. Thankfully, my diligent bookkeeping meant I had the info I needed to make informed decisions about what was and wasn’t working. It didn’t take long to identify changes I could make to free up my time without hurting my bottom line. For me, that meant hiring someone to take over some tasks that felt draining to me, and cutting out a few things that I realized were no longer working.

Bookkeeping gives you the full picture so you can make those informed decisions and free up time and space for the things in life that really matter. For you, it might mean expanding your team, changing your marketing to focus on your most profitable offer, or dropping a service that drains your time without bringing in results. 

The best part is you don’t have to wait for a life changing event like the death of a loved one to start making changes. You can start running your business with intention and making shifts toward working less and taking time to enjoy life today.

What’s one shift you can make in your business that will help you live with more intention?

These resources will help set up your bookkeeping systems so you can see the big picture of your business and start making decisions that create space and freedom in your life.

Get Back on Track with Bookkeeping

Do your Bookkeeping in Just 20 Minutes per Week

The Ultimate Pricing Guide for Creative Entrepreneurs

If you’d like more support, check out my DIY Bookkeeping Program, where I walk you through the steps to creating a bookkeeping system that shows you the big picture and helps you make informed decisions in your business.