Setup an accounting solution; hire an accountant, or make other preparations for your bookkeeping
You already spend some money and most likely you will earn some money soon. Time to think about book keeping. If you know your way around a little bit and do not mind the number crunching yourself – a simple Excel spreadsheet can work well for a while. It is always hard to spend money when not making any. Anything free is good. Assuming that you have MS Office or the open-source solution Open Office and you will be on your way. This solution can be limiting when you experience fast growth, but it might carry you through the first year.
If you want to spend some money think about Quicken or MS Money. They are affordable and will do the job just fine. For $79.00 you will get a good workable solution that is ready to grow with you.
If you want to spend more money – get Quickbooks or Peachtree accounting software. Or hire an accountant right away. We leave that up to you. For the purpose of getting your business started with limited funds we assume the Excel Spreadsheet solution for our cost analysis.
Cost associated with this step: $0.00
Money spend so far: $704.93 (one-time)
Money spend so far: $45.00 (recurring per month)