Since becoming a content coach, I’ve had to keep books for my solo business. This scared me initially.
But after some research, I realized how easy it is in most jurisdictions - Your own tax code will vary, but in principle, you need to keep the following:
- A spreadsheet with sales & expense data
- An estimation of your home office space
- An income statement showing your P&L
As far as receipts are concerned, they’re much easier to drudge up in the digital age on request. Just keep a separate email folder with all of them in case. I’ll link to the template I used if you’re based in Canada.
Don’t let bookkeeping stop your solo business from taking off.