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All CollectionsBusiness Setup - Module 1
How do I manage my accounting?
How do I manage my accounting?

Keeping accurate track of your revenue and expenses is very important. Here are some helpful tips.

Brad Milne avatar
Written by Brad Milne
Updated over 11 months ago

With High Ticket E-Commerce, you're building a real business. Which means you need to manage your accounting, understand the finances of your company, and pay taxes on your profits.

While this can seem intimidating, there are ways to make your life much easier.

There are two recommendations we would make:

1) Use your business credit card for every single purchase made in the company, no matter how small. This way at the end of the year, you know exactly how much you spent.

2) The second thing you can do to make your life easier is integrate your bank information with a simple accounting solution like Quickbooks. It's relatively cheap and you can categorize your recurring and one-time expenses to get an accurate picture on what you're actually spending your money on.

If you follow the above two pieces of advice, it should be fairly straightforward to understand your financial situation and manage your taxes every year.

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