Book keeping?

Excel is good for the basic stuff, but it is one of the most powerful data processing tools on the market. Even if your needs are very advanced, excel can handle them. As crazy as this sounds, old MS flight simulators were made off Excel's engine because it can crunch numbers so fast.

Originally Posted by Village Genius Excel is good for the basic stuff, but it is one of the most powerful data processing tools on the market. Even if your needs are very advanced, excel can handle them. As crazy as this sounds, old MS flight simulators were made off Excel's engine because it can crunch numbers so fast.

Agreeeeeeeeeeeeed!

For those that use Excel. Don't suppose you mind sharing how you have it setup? (:

Originally Posted by Dan For those that use Excel. Don't suppose you mind sharing how you have it setup? (:

I have two sheets, expenses and income. Expenses has the following columns:

• Ammount
• Type (yearly, monthly, one time, etc)
• Place of Purchase
• Receipt URI (I scan all receipts and physically archive them)
• Date

I also on the top right corner have a summation of all the dollar amounts. If you are dealing with multiple currencies with this.

Income has the following:

• Type (Project, sale, etc)
• Amount
• Contract URI
• Date start
• Date end
• Client Name
• Invoice IDs (I keep digital and physical copies of them)
• Paypal IDs
• Check #
• Check ID (I ID them myself to keep a unique record of all of them)

There is also an income total on the top right of that as well.

Off of that data I can generate graphs very easily for anything I want to.

Maintaining in excel sheet is very easy now you can do it online with google document as well.

If finances for your business are pretty straight forward, you might consider using Quicken. It functions much like a checkbook, but you can set it up to track various categories of expenses or even individual projects. One nice thing about it is that you can download your bank account data right into it. It doesn't have to be fancy to be effective.

Seeing this thread again I'd like to update my advice. I've started using Quickbooks Online and absolutely love it. It makes everything really easy, I can track everything and view reports to see where I am at. I'm never going back to excel.

There is quite a bit of front end set up if you plan to use Excel. You have to create all kinds of formulas to tell it what you want it to do. The Quicken and Quickbooks applicatons eliminate all that for you. Just learn to navigate the program and add your financial data.

Originally Posted by Libby There is quite a bit of front end set up if you plan to use Excel. You have to create all kinds of formulas to tell it what you want it to do. The Quicken and Quickbooks applicatons eliminate all that for you. Just learn to navigate the program and add your financial data.

When it comes to the program, it is personal taste, and what ever fits your knowledge. Some are beginner friendly, others have massive amounts of depth that may confuse the common, uneducated (in accounting not in general) person.

Every accounting program out there has a trial period demo, try them all until you find one you like, and can use.

I suggest both paper and digital.

Doing the paper work forces you to take a break from the computer, which we all tend to spend too much time around. Also it keeps you fully up-to-date on what is going on.

Some digital methods have you fill in fields once, then just put quick shots of info in them. You start to over look things, and start to lose full connection to whats what in your dealings.

Always keep a back up of your digital books on a source off of your computer in case anything happens to the computer. And always keep the paper work, in case you ever have to reference.

Again, doing the paper work allows you to take a break, and focus your mind on something other than your current project. Which is always good for your overall health.