If you didn’t read the post yesterday, check it out here.
As you can see, this receipt was from Christmas Eve, December 24th. Within 2 weeks, both Gillian and I looked at it and had no clue what it was for. We both remember going there, and we both remember buying something. Turns out it was charcoal! Luckily the package was still sitting in the original bag and we were able to figure out this little mystery, but even 2 weeks was too long to remember details. Take a look over your receipts – if they are anything like mine at least 1/2 are basically incomprehensible. You have to take care of them quickly or you forget what they were for!
Now, receipts are only half the battle here. You’ll also need to keep track of your income and expenses (groan). I know. I get it. But this is one of those necessary evils of running a business for a lot of creative types. Trust me on this. Right now I spend about 10 minutes a week on finances. I only commit 5 minutes 2 days a week to keeping on top of things. It also takes me about 1 hour at the beginning of the year to put together my binder and make new spreadsheets. I don’t really enjoy the data entry part, but it makes my life so much easier to not have to worry about finding things for my taxes. It also helps me see the big picture of how my business is doing.
So here’s what I have for you today: 2 easy-to-use spreadsheets that you can use to stay on top of your business. They are here to help you set monthly financial goals as well as track your records. You can use one, both or neither. It’s up to you. I use them and they make life easy if you keep up with them. Trust me when I say that going through old receipts is rarely fun, but tackling only a few at a time makes it much more bearable. You can edit them to suit your needs – I use a modified version of the expenses worksheet because there are 2 of us behind CGC so I tally up our expenses separately.
For personal or small business use only. Please do not claim these as your own or sell them. Don’t be a jerk. Feel free to share the link to this post, but please do not link straight to the files! Thank you!