![]() ![]() The statement of your business bank account - if all of your expenses are being paid from one account (or a few accounts), then it's easy.Īccounting software like Xero, FreshBooks, QuickBooks, etc. Just a regular old spreadsheet (if there isn't going to be much activity) What sorts of expenses will your business be incurring? Are there a lot of them? Are they all operating expenses or will there be some capital investments too? I'm a tax attorney who answers this question alot. It really is a better timesaver over excel, especially since my accounting software is cloud based and it's easier to do that then pull up a sheet from google drive and change the parameters from there. ![]() With that said, I run so many different and varied P&Ls that I prefer the accounting software. Then, you have a nice clean table from which you can just either run a pivot table, or manually do some vlookups or index matches to build your financial tables. Set up your sheet, and pull a query that's run against the export of your accounting software, being sure to include the account, date, and the amount. Adding some automation through queries simply makes it super easy. Yes - I use Wave for my general ledger and books work, but simply going in and checking the forecast, and seeing how we came in month to month - excel works great. I have found that in terms of budgeting and forecasting with small business, nothing beats excel. It makes my day to day living a little tighter, but I like seeing my retirement money go up and I love knowing I don't have to scramble for tax money. That's not only for taxes, it's also for my 401k and other savings things. Here's some unsolicited advice: my accountant told me to save 50% of what I make. I have an accountant who has access to everything and will periodically ask me questions or call me out ("The lunch at the bar is NOT a business expense!'). All the money that I make goes into the business checking account, all my day to day expenses go on the credit card (which I pay from the business account), and all the money for taxes or fees that I know are going to happen later going to my savings. I'm all about getting a designated business account, a designated business credit card, and a designated business savings account. I'll just tell you how I do it but keep in mind that I'm not the best. Location Specific Small Business Subreddit No Personal Attacks, Trolling, or Toxicity.You can promote your business in a relevant reply to a post or comment in other threads. Offers of free services under the pretense of 'building your portfolio' are considered business promotion, and not permitted in posts. Promote your business in the weekly Promote-your-business thread only. ![]() Practically all content, small business-related or not.Īllowed are links or quotes in comments and replies that are relevant to and come normally in the course of discussions. Note: You can post own experiences in the new weekly stickied or pinned share-your-experience thread.īlogspam has been defined very early in r/smallbusiness as content that maybe text articles, images, or video. NO business promotion, lead generation, rants, info-tainment, success stories or unsolicited instructional texts, treatise, or how-to's are permitted in posts. You ask a question about starting, owning, and growing a small business and the community answers. R/smallbusiness is a question and answer subreddit. Post only questions about small business.To get flair added to your username, message the moderators. This sub is not for advertisements! Questions and answers about starting, owning, and growing a small business. ![]()
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