Book Keeping Format For My Website Business

by Ashley
(Trinidad and Tobago)

I am going to start a new website with Site Build It soon. I will like to keep records of all payments, expenses as well as any revenue or income earned with regards to my website.

My question is what is the book keeping format I should use for a website business or what type of format I should use?

I really think that it is important to record all financial transactions, even though it is just a home-based business.

Hello Ashley,

Thank you for your inquiry.

First of all, congratulations on your decision to start your own site build it website. I have found the experience to be truly rewarding in many aspects, not just financially!

Also, I'm glad you are planning ahead. As you said, it is definitely important to record all financial transactions, even though it is just a home-based business!

With any self-employed business, I highly recommend getting a separate bank account for your new business transactions. Many banks will even offer you a year end summary of transactions that will take care of categorizing your expenses for you.

You might also wish to setup an Excel type spreadsheet listing your expense categories across the top and transactions below each category that can be totaled at the end of the year.

Lastly, you can also try a software program to help keep track of expenses. I am currently using Quicken and am finding it to be very convenient.

Best of luck to you!

Bookkeeping System and Format for a Website Business

I am going to start to develop a website soon about gardening. I will be using Site Build It and I will like to keep all records of income, expenses and receipts with regards to the website.

What format should I use to record all financial transactions that relates to my website business?

To be specific what type of bookkeeping system I should use?

If you can give an example of how I can construct the financial statements that shows income flow and expenditure, I will greatly appreciate that.

Hello,

Thanks for your question.

I always highly recommend Quickbooks as that is what I use and I find it to be very user friendly and full of helpful tutorials. If you decide to go with a software like Quickbooks, it comes with built in reports for all of your financial statements.