Monday, October 29, 2007

Bookkeeping Tips for Freelance Writers

In case you haven't already heard, freelance writers are self-employed individuals who must keep track of their own income and expenses. Bookkeeping comes naturally to some people, while others -- such as myself -- must work at it. Unless you are an extremely profitable freelance writer, you don't have your own accounting department that handles all of your bookkeeping for you, so you must learn how to do it yourself.

You don't need a fancy accounting degree or expensive financial software in order to keep track of your income and expenses. All you really need to know is the first simple rule of bookkeeping: Write everything down! Keep records both in hard copy and on your computer and you virtually can do no wrong because there will always be a way to double-check your figures and to produce financial information when need be.

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