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One of the most important tasks that a business owner will find themselves focusing on is managing their expenses on a daily basis. For people who are new to running a business, this process can be a very nerve-wracking, annoying, time-consuming, and intimidating process.

It Doesn’t Matter

Entrepreneurs who are able to manage their businesses’ cash flow well are typically the businesses that are able to stay in business. For the past two years, I’ve run my own business of a sort. I’ve assembled a mishmash of blog income, freelance writing, and other consulting projects.

I, like every other entrepreneur, have various expenses related to the running of my business. In 2016 I filed my first taxes as an entrepreneur and it was crazy how much I had to keep track of.

  • Receipts for different business related expenses. And, there were expenses that I hadn’t even considered keeping track of until my CPA asked about them.
  • Expenses related to business related travel
  • Expenses related to business related education that I had purchased
  • Payments that I had received from: Paypal, Bill.com, and direct deposit.

It was a lot to keep track of and so freaking confusing. I didn’t think that it was possible to find an accounting system that would take care of my businesses’ 2017 system. I had cloud-based interfaces with my clients, I had receipts everywhere, and everything was a pain to keep track of. Until I found out about XERO.

XERO

Now, to be clear,  I just discovered this accounting system and spent an hour going through the website and am TOTALLY GEEKED OUT about this product. It has the flexibility and is the first accounting software that is created with the reality of how businesses are run in 2017.

If you’re looking to grow a blogging business, start freelancing as a side-gig, or do contract work-this is your software.

Here are the highlights of the XERO software system:

  • You can change your monthly plan to grow as your business grows.
  • Don’t have employees but plan on hiring some? You can run payroll through it.
  • The plans range from $6-49 dollars a month (very affordable)
  • You can use the app to add receipts in real time.
  • Payment reconciliation is a breeze-via the app or website. The software is alerted to payments based on invoices sent out.
  • Invoiced items will also have the taxes shown.
  • Everything is located in place so that when it’s time to do your taxes you’re not searching all over the place for the information that you need.
  • Payment systems such as: Stripe, Bil.com, Paypal, and more are integrated with the system.
  • Your bank account is integrated with XERO
  • Other team members can be authorized to access your XERO account  (from anywhere)

If you’re not in love with other accounting programs, you can give XERO a try with a 30-day trial offer.  SIGN UP HERE! To check it out.

Accounting isn’t sexy, but XERO makes it feel a lot sexier that before. If you’re looking for an accounting system that is the next level in running your business-this is it. I am making a lot of changes to my blogging business this year and switching over to XERO will be one of those changes. It’s a much more responsive software for my current business needs. And, yes, I geeked out.

www.shopmyclosetproject.com

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I am an obsessive foodie, but not self-righteous with it, love travel, meeting new people, helping you look good, and am freaked out by people who don't enjoying reading...something! Grab a Perrier, read my blog, feel free to drop me a line! Hope to hear from you soon.

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