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My first attempt at a "real" business turned out to be a huge pain in the a$$. I was using a spreadsheet to keep my records, which worked fine for my needs, but once taxes came around I was hit with a huge rush of anxiety. It was an online retail store and my accountant wasn't very clear what she needed from me to file taxes. I wasn't completely sure myself as it was my first LLC. I had ebay invoices, paypal statements, bank statements, my own record keeping spreadsheet... I got extremely anxious every quarter making sure (and worrying) that everything was filed correctly with the IRS.
If I get a software like QuickBooks where I enter every transaction related to my business, would I be able to run certain reports every quarter with all the information needed for my accountant to file?
How do you handle your record keeping and making sure your quarterly taxes are filed? Do you use software and what reports do you send to your accountant? Do you file yourself?
Other ideas?
I'm really trying to find a more streamline solution than spreadsheets so that I can focus more on the business; and spend less time worrying .
If I get a software like QuickBooks where I enter every transaction related to my business, would I be able to run certain reports every quarter with all the information needed for my accountant to file?
How do you handle your record keeping and making sure your quarterly taxes are filed? Do you use software and what reports do you send to your accountant? Do you file yourself?
Other ideas?
I'm really trying to find a more streamline solution than spreadsheets so that I can focus more on the business; and spend less time worrying .
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