Ultimate Bookkeeping Tips and Tools for Small Business
As a small business owner, you probably wear every hat imaginable — marketer, customer service rep, operations manager, and yes, bookkeeper. Keeping your financial records organized is one of the most important parts of running a successful business. But the big question is: can you really do it yourself?
The short answer? Yes — but it comes with a few challenges.
Let’s walk through how to manage your own bookkeeping, what tools to use, and when it might make sense to call in a professional.
Can Small Businesses Do Their Own Bookkeeping?
Yes, absolutely. Bookkeeping is simply about tracking what comes in and what goes out — your income, expenses, and everything in between. With the right system in place, many small business owners successfully manage their own books.
Doing it yourself can save you money and give you more visibility into your business finances. However, it does require consistency, organization, and a good understanding of how transactions should be categorized.
What’s the Best Bookkeeping Method for Small Businesses?
The best bookkeeping method depends on your business type and comfort level with numbers. Most small businesses today benefit from cloud-based bookkeeping tools like QuickBooks Online, Xero, or Wave.
Here’s why:
You can log in anytime, anywhere
Your data is automatically backed up
Reports and invoices are generated with a click
You can easily share access with your accountant or bookkeeper
If you prefer something simple, even a well-structured spreadsheet can work — but cloud tools save time and reduce the risk of manual errors.
How to Set Up Bookkeeping for Your Business
Here’s a step-by-step guide to getting started:
Open a separate business bank account. Keep business and personal finances separate.
Create a chart of accounts. These are the categories you’ll use to track income and expenses.
Choose your bookkeeping method. Cash or accrual—pick one that fits your business type.
Select your bookkeeping system. Decide between manual tracking or software-based bookkeeping.
Record transactions consistently. Log income and expenses regularly to avoid confusion later.
If this sounds like a lot, don’t worry—once the system is set up properly, it’s much easier to maintain.
Can You Do Bookkeeping Manually?
Yes, manual bookkeeping is still an option, especially for very small operations. You can use a ledger or spreadsheet to record every transaction and reconcile your bank account monthly.
The key is staying organized and consistent. However, as your business grows, this method becomes time-consuming and error-prone—which is when many owners switch to virtual bookkeeping services.
Can You Do Bookkeeping Without QuickBooks?
Definitely. Tools like Wave, Zoho Books, or even Google Sheets can work just fine. The tool matters less than how disciplined you are in using it. The goal is simple: record everything accurately and regularly.
When Should You Consider Hiring a Virtual Bookkeeper?
Even though doing your own books is possible, many small business owners eventually decide to outsource. Why? Because bookkeeping takes time—time that could be spent serving clients or growing your business.
A virtual bookkeeper keeps your books accurate, reconciled, and tax-ready—without you lifting a finger. They also use the same software you would, but with the expertise to make sure everything stays compliant and organized.
The Bottom Line:
You can do your own bookkeeping, and for many new business owners, it’s a great way to learn your numbers. But as your business grows, outsourcing to a professional virtual bookkeeper can save time, reduce stress, and help you make smarter financial decisions.
👉 At Antelope Bookkeeping and Consulting, we help small business owners take control of their finances with virtual bookkeeping services that are simple, affordable, and reliable.
