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Thread: Bookkeeping for your web businesses

  1. #11
    Publishing Mentor dsieg58 is a Premium Member
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    Excel spreadsheets and an accountant for taxes.

  2. #12
    Top Contributor Dave McM is a Premium Member
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    Our spreadsheet system is fairly straightforward, though it's become more elaborate over the years as I've refined it.

    We have a master spreadsheet at the top with tables for income, expenditure, assets (including depreciation), profit & loss, balance sheet and exchange rates*.

    We have a spreadsheet for income. This is very easy, as virtually all of the organisations that pay us significant amounts issue monthly spreadsheets, and the others pay direct into our business account as and when.

    We have a spreadsheet for expenditure - with tables for the regular monthly outgoings (bank charges, hosting, rent, utilities etc) and linked spreadsheets (each with monthly tables) for irregular payments as they arise under the various subheads (books, computer sundries, domains, software etc).

    And in the last couple of years I've also set up a couple of sheets to index individual payments and receipts, though that's maybe overkill - but it'll make things clearer if anyone ever does ask to look over our books.

    * Exchange rates are a complication that small bricks-and-mortar businesses are much less likely to face. Having said that, things are easier these days than, say, five or ten years ago. Most of our revenue streams pay out in sterling these days - Google have done for years now, and Amazon followed suit about a year ago. And we don't run up expenses in quite so many different currencies as we did a couple of years ago when we were travelling on business much more frequently. Nevertheless, we still need to do some conversions - so I grab the exchange rates from HM Revenue & Customs and feed those into the system.

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