Tip Keeping Track of Revenue and Expenses

I started my paid traffic venture back in April 2011. Though, I’ve heard about the importance of keeping my accounts in check, it’s something I’ve put off until today.

I downloaded all my paypal and bank statements then inputted the numbers on a spreadsheet.
The results shocked me.

I was bleeding money

This is a topic that isn’t discussed as often as it should and should be stressed more towards newbies.

The pros probably hire CPAs to manage their accounts.
If you can’t afford one, you have to do it yourself.
Download and Save your statements & receipts.
You may even keep physical copies, if you choose.

You don’t want to get caught by the IRS with your pants down, do you?

To help you guys out, I’m attaching a copy of the spreadsheet I made (I changed the numbers a bit ). If you have one that’s better, please share.

User Comment:
CPA + Separate Bank Accounts + AMEX FTW. always good to keep your own records too.

User Comment:
here is a nice one i have been using for years now. i love it !

User Comment:
You do not want to pay a CPA to keep track of your rev/expenses. They’re worth paying for tax work (potentially), but if you are just looking for someone to keep track of rev/exp, just try and find a "bookkeeper."

User Comment:
oDesk has awesome book keepers. PM me for a reference.

User Comment:
My books are terrible because I had to leverage personal credit for business.

Also getting banned from diff traffic sources and rotating credit cards did not help keep things "tidy"

Keeping track how you’re doing month to month definitely helps you focus and scale.

The Article Published IN 09-03-2011 12:56 AM

Share To More ()