Friday, April 29, 2011

Tips for a Tuesday, on a Friday - Managing Your P&L

Sorry for the delayed post, but I got hit with the flu, and man, had I forgotten how impossible it is to do anything with the flu other than sleep.

I wanted to write a little today about finances. As an artist, my first priority is not managing the accounting part of my business - in fact, just thinking about it brings on a headache. But I found a service called Outright that helps make it all a bit easier. When I joined, it was free. Now it looks to be about $10 per month. But what does it do? You give it access to your business related accounts (PayPal, your business bank accounts) and it tracks your earnings vs expenditures. It categorizes your expenses, keeps track of your biggest vendors, and most importantly, it helps get you ready for tax time.  I really appreciate it's use of graphics to convey information, as I'm definitely more of a visual person.

Sorry for the brevity here, but I'm still a bit wiped out from sickness. Perhaps my next post should be about health insurance...

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