How to do Your Own Bookkeeping in 2022

Introduction

Bookkeeping can be intimidating if you don't know where to start. But once you get into the habit of doing it regularly and keeping your receipts, it's not so scary! Here are some tips for keeping your own books and saving money in the process:

1. Have a system.

• Have a system. The first thing you'll want to do is create a system for tracking everything, which includes the following:

• Receipts and expenses

• Categorizing your transactions

• Reconciling your bank statements

• Tracking accounts receivable and accounts payable

2. Put the receipts away.

Once you’ve entered the receipts in QuickBooks online, here are some tips for keeping them organized:

• Keep receipts in a folder. It’s easier to keep track of your money if you have everything in one place. Plus, it will be easier to find things when you need them later.

• Organize by category and date. You can organize receipts by the vendor (if they are all from one company) or by purpose (if they are multiple types of transactions). You can also organize by date, which makes sense if most of your expenses occur at regular intervals throughout the year (like rent or utilities).

3. Expense on the spot.

Expenses are easier to track when they happen. If you can expense something right away, do it. But if you have to wait until the end of the month, write it down on a piece of paper and stick it in your wallet. Then, when you get home at night, transfer those expenses into your accounting software.

Keep receipts for everything! This is one of the most important steps to take during bookkeeping: always keep receipts! You never know when an item may be reimbursed for tax purposes or even just as a travel reimbursement from work — so hold onto those receipts! Also, make sure that each expense has its own unique category assigned to it so that later on when looking back at days gone by—you'll recognize exactly where all those dollars went (or didn't go).

4. Do it regularly.

• Do it regularly.

The key to managing your bookkeeping is to do it regularly and consistently so that you don't have a large pile of receipts and invoices to get through at the end of the month or quarter. Don’t put off your bookkeeping until you have a big pile of receipts (and they do add up), but also don’t wait until then either—it will be overwhelming! Instead, set aside time in your schedule, whether it’s once a week or once a month, and do some filing or enter your transactions into QuickBooks Online (QBO) or another software program for small businesses that does double duty as both an accounting program and a checkbook register.

5. Get help when you need it.

If you don’t have the time or expertise to do your own bookkeeping, there are lots of options out there. You can hire an accountant or bookkeeper to do your books for you either part-time or full-time. Or, if you want to keep it simple and save money at the same time, use a virtual assistant who can help with payroll and other tasks related to running your business.

You can also use Quickbooks Online which includes accounting software as well as invoicing features built right into the system making it easier than ever before to manage all aspects of running a business from anywhere in the world with only one login/password combination!

Bookkeeping doesn't have to be big and scary if you break it down into small, manageable tasks and take care of them regularly!

Bookkeeping doesn't have to be a big, scary thing. It's just a matter of breaking it down into small, manageable parts that you can handle regularly.

• The key to succeeding at bookkeeping is consistency. You don't need to do all the work in one day—just make sure you do some each day!

• You should keep receipts for tax purposes, but they're also useful when you're ready to submit your books for an audit or if someone ever asks why you bought something with cash and didn't report it on your taxes (hint: because then they'd know).

Conclusion

Bookkeeping doesn’t have to be scary. In fact, it can be a rewarding experience that gives you greater insight into your business and allows you to keep track of important financial information. While there are many different ways to handle bookkeeping, we hope our tips will help get you started on the right path!