Why I need to share these accounting tips for bloggers?As a blogger who also earn from it and as a blogger who stayed at home few years ago with the confidence of monthly income from blogging I want to share these tips to help others.I know some bloggers don’t take it seriously.There are other bloggers who don’t know how to manage their blogs seriously.
If you are a blogger and if you do it seriously then I know you even earn some decent income from blogging. While there are many ways to earn money from blogging here I want to share some important accounting tips for bloggers. As a blogger you don’t need to have expert accounting knowledge to manage your income and expenditure. With few basic accounting tips you can easily manage finances of your blogs while maintaining your profits.
Here are the most important accounting and bookkeeping tips for bloggers.
Open a bank account for your business activities
Most of the bloggers do the mistake of using their personal bank account for blog income and expenses. However this can make everything messy. Don’t mix up your personal expenditures with business expenses.
When you have a business account then that will also help you to manage your taxes easily without spending much time on it. If you don’t have a separate bank account for your blog and related business activities, open one today!
Use accounting software
When you use accounting software it is easy to tackle all expenses and income without spending much time. You can be a professional blogger who earns a decent monthly income from blogging. Therefore time is really important for you. When you invest in good accounting software you will not only save time, but also money from future expenses for accounting services.
In case if you earn a higher income by blogging and you also have considerable expenses for blogging and business purposes, then keeping all receipts as hard copies may be difficult. However at least use a folder to keep all your receipts in one place for later use. Be sure to enter all the receipt details by using at least a spread sheet. Include relevant details such as date, description, and amount for your reference when it is necessary.
Set Up a monthly Budget
When you do blogging as a business then it is necessary to have a budget. With a budget you are able to track your expenses and predict the cash flow. Blog hosting and domain renewal charges are recurring expenses for your blog that you need to pay monthly or yearly. Other than that there may be other expenses such as virtual assistant fees, social media marketing fees and advertisement expenses which you have to spend monthly. Set a budget to all these in order to streamline your monthly expenses. In this way it is easy to monitor the profits and how your business grows.
Finally, if you blog for earning an income then take it seriously. Consider blogging as another business. Treat it like a true business. You can be a successful blogger! And don’t forget your accounting as a blogger.
Amila Wickramarachchi is a Singapore based blogger who writes few blogs.Her food blog Food Corner is popular for Sri Lankan recipes.She also writes this blog to share her knowledge on blogging with other fellow bloggers.