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Balance Sheet

by Seatbelt99
2 replies
How do you all keep track of your internet based income? Is there a good program or balance sheet or anything that works well for it?

I've just been kind of going day by day because I always made more than my expenses by a fair amount so I was not really worried about it (My expenses are only like $75/month and I typically made at least $150-200).

Now that I'm 'expanding' what I'm doing online and I have more expenses (Virtual assistants and that type of thing) I want to keep better records so I can know how much my VA is costing me vs how much work he does and all that. Plus my income is going up quite a bit so it would be good to have better records for taxes and all that.

Anyway, any tips or advice on this? Ideally I'd like to be able to break it down by each of my 'projects'. I own 4 or 5 websites and I have two other lines of income online if that helps.

thanks!
#balance #sheet
  • Profile picture of the author AnniePot
    I have used Quicken for many, many years, then, at tax time, it takes just a few clicks to transfer everything into Turbo Tax.
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  • Profile picture of the author Dustin_M
    I use QuickBooks but that may be overkill.....What I like about it is that I have the ability to track income and expenses but segments (freelance writing, affiliate income, etc) by using subcategories. QB also has a built it time tracker where you can assign labor costs to specific invoices (and subsequent revenue streams although I do not use this feature at all)

    Intuit also sells an enterprise level solution that allows companies to be broken down into classes. Unfortunately, that program costs about $5,000 with an annual fee close to $1,000.
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