Ugh, Accounting

I hate doing the bookkeeping - that is, the actual process of entering everything. Makes sense for me to do it right now, but it isn't any fun. What IS fun is reviewing the reports afterward. I know exactly what's going on in my business, where I need to make changes, where I'm doing well. Well worth the weekly exercise in the end.

Just sayin'.

I use a new online accounting system called Xero. Most of my transactions go through my bank account, my statements are automatically imported every night, I just go in once a week and code them. If I buy anything on credit card I import it manually as an expense claim to myself at the end of the month. On the odd occasion I stuff things up my accountant logs in and fixes it - your accountant has rights to see and change your finances. It's fantastic. I can do all kinds of reports, generate my tax returns, do invoicing and track outstanding invoices, breakdowns of how much I spent on each category of things last year (like seeing I spent more than $20K on albums), and it has a bunch of benefits. It takes me a few minutes a week. I don't know how i'd run things without it.

I don't know what countries it's set up for yet, I know it works in New Zealand and the UK.

Sounds like a fantastic system! I will definitely look into it. I hope it's up and running in the US.