A while ago I recommended using Mint.com. It's free and a great way to setup a budget and get a good look at your financial picture. Today I'm going to share another reason why I think Mint is great. If you have a small business this is huge. It will save you tons of time.
Tax time is a major pain for any business owner, small or large. Anyone that enjoys gathering their tax documents and doing their taxes is crazy! The tax laws are too complex. You should never have to pay someone to do your taxes. That's just un-American in my opinion. Anyway, I digress... and I use accountants myself.
It doesn't matter if you use an accountant or not, you still have work to do. You have the job of gathering all of your receipts and checkbook/credit card transactions and making sure that they are all categorized properly. This used to be the biggest time consumer for me.
More transactions = More Time
That's the way it was until I made it automatic. I set up my accounts on Mint.com. Now, I can download all of my transactions and save myself 90% of the time.
I hear you! I know what you are saying, "You can already do that with your bank Craig!".. yes, you are right. BUT, good luck with that. Banks usually keep less than 6 months of data for you. So, you are forced to find your old statements (or view them online) and then TYPE them in yourself. Forget that!
Make Tax Time Easy
- Go to Mint.com
- Click on the Account you want the transactions for
- Scroll to the bottom of the page and click on Export Transactions
You will save yourself a bunch of work!