Simple bookkeeping for a one-person business
Updated 2026-10-02
Bookkeeping is not about accounting skill. It is about writing things down the day they happen, so that at the end of the month — and at tax time — nothing has to be reconstructed from memory.
Record every money movement
- Money in: sales, deposits, refunds you received
- Money out: stock, supplies, rent, fees, delivery, ads
- For each: date, amount, what it was, and keep the receipt
Record it the same day
The single habit that makes bookkeeping work is doing it daily, in under a minute. A photo of the receipt and one line of text is enough. Saving it for the weekend is how receipts get lost.
Keep business and personal apart
Use one account for the business wherever you can. Mixing personal spending into business records is the most common reason small-business books do not add up.
Check three numbers every month
- Sales: what came in
- Profit: what is left after costs
- Cash runway: how many months your cash would last at this month's spending
Leave tax to a professional
Clean records make your accountant's job faster and cheaper. Filing and tax advice should still come from a licensed accountant.
Doing it with AAAAI
FionA records money in and out from a sentence or a receipt photo, shows your month at a glance and how long your cash lasts. Moving money and filing tax always stay with you.
Questions
Do I need accounting software?
Not to start. What matters is recording every movement the day it happens; the tool only needs to make that fast.
How long should I keep receipts?
Ask your accountant about the rules where you operate; keeping a photo of every receipt is a safe habit.