When I opened my Etsy Shop, Petite Tuques, I didn’t know much about online selling. Instead, I started out knowing how to track my sales and purchases. To most, the mere thought of entering data into an excel sheet or a professional accounting system is frustrating to say the least. Bookkeeping doesn’t have to be tiresome, and I’m going to tell you why.
You Are A Pro
Being a pro in your profession, whether you are a knitter, painter, jewelry maker, or coach, you have decided to take things seriously, and work on your shop or website full time. With that, you are probably using professional systems that make your business easier to function. Bookkeeping should be in that category.
The more you understand about bookkeeping, the more you will realize that you need to use professional systems, ie. QuickBooks, Sage 50, Xero, Wave- to name a few.
I was referred to a FREE accounting tutorial website, Bean Counter, where you can learn the basics of accounting. Terms like debit, credit, posting, special journals, balance sheet are all explained in detail. There are mini tests to do to test your knowledge- presented in a fun way that is guaranteed to make you smile. If you feel up to the task of learning how to book-keep for your business, I highly suggest starting there.
Pick Your System
There are many programs out there, and it can be difficult to choose. Most softwares are online now, and have free trials, so you can join and use a program for a limited time and choose which one to use for your business.
My suggestions are
1)Wave Apps – a FREE online based system that syncs with Etsy and Paypal
2) Xero – an online based system that is more professional and requires a monthly fee as low as $19 a month.
Both the above systems can be connected to an accountant/bookkeeper of your choice, which brings us to:
Outsource Your Bookkeeping
If you really, really, really don’t like to do bookkeeping, then outsourcing is the best thing that you can do for your business. Letting someone else do the work for you will enable you to focus on what you are good at.
The bookkeeper you choose will be a part of your business, and will know your business intimately, so you do want to interview and get to know your potential partners. Yes, I consider a bookkeeper to be a partner in the sense that bookkeepers are in the position to help the business owner with the financials, and should actively work to help the business owner save costs, where possible.
Work With Me
If you haven’t already guessed it, but my line of work here at Crafty Bookkeeping is bookkeeping. I suggest Wave and Xero because I am part of their Pro Network and I actively use the programs for my own businesses.
In Wave Apps, I can be added to your account via “Invite a Guest Collaborator” from the dashboard. I can then link your Etsy account (if applicable), bank account (if applicable), or paypal account. You are able to scan or photograph your receipts and upload them directly to Wave, which will then allow me to enter the transactions.
Xero has all the main functions as a traditional accounting software (like Sage 50) where you can enter transactions into a general journal, sale invoice, or purchase invoice. If are already familiar with the concepts of entering debits and credits, then this program should be easy to navigate. Unlike Wave Apps, it’s the bookkeeper who invites you to collaborate. I have a “partner edition” on Xero, which allows me to make an organization which I invite a client with limited uses into the software.
I’ve been searching the internet for info about what bookkeepers charge to clients; and what I’ve seen is that junior bookkeepers will charge anywhere between 25-40 dollars an hour. So I’m going to charge $35 an hour.
I want to make clear that you can email me with questions, or set up an appointment on skype, all for free. I want to learn about your business, and your concerns as you do business.
Give me a shout, and I can’t wait to start working with you!