How Do I Know If I’m Making Money Each Month? You know if you’re making money each month by comparing how much income you received against how much you spent during that period. For micro and one-person businesses, this does not require profit and loss reports built for accountants. At its simplest, monthly profitability comes down to: total income received total
How Often Should a Micro Business Do Bookkeeping? A micro business should do bookkeeping often enough to stay accurate, but not so often that it becomes a burden. For most one-person businesses, a short weekly or fortnightly routine is ideal. Bookkeeping is not about frequency for its own sake. It’s about keeping information current so you always know where the business stands. When re
How Do I Stay BAS-Ready Without Doing Monthly Bookkeeping? You can stay BAS-ready without doing full monthly bookkeeping by recording income and expenses consistently and making sure GST is captured correctly as transactions occur. For micro and one-person businesses, BAS preparation is about having accurate totals, not detailed accounting records. BAS reporting only requires a small set of
Track Expenses Simply for a One-Person Business Tracking expenses as a one-person business does not need to be complicated. The simplest approach is to record each expense when it occurs, attach a receipt, and categorise it correctly so totals are always accurate. For micro businesses, expense tracking is about visibility and compliance, not detailed accounting. You need to know what you&rsq
Track Business Income Without Accounting Software You can track business income without accounting software by recording every invoice you issue and updating payments as they are received. For micro and one-person businesses, this provides enough visibility to manage cashflow and meet tax obligations without complex accounting processes. Income tracking is not about producing financial state
When Bookkeeping Software Is Enough (And When It’s Not) Micro businesses are constantly told they “need accounting software.” In reality, most don’t. The confusion comes from assuming every business operates like a growing company with staff, inventory and complex reporting needs. One-person and micro businesses operate very differently, and the systems they use shou
How Micro Businesses Can Stay Compliant Without Accounting Software Many micro and one-person businesses believe compliance automatically requires accounting software. This belief usually comes from advisers or software marketing, not from the actual requirements of running a small operation. In reality, compliance is about accurate records, sensible habits, and the ability to produce the ri
How Do I Start the New Year With Clean Bookkeeping? Starting the new year with clean bookkeeping does not mean starting from scratch or changing systems. For most micro and one-person businesses, clean bookkeeping simply means your records are current, understandable, and not hiding any surprises. Many businesses start January feeling behind because December was left messy. Receipts were ign
What Bookkeeping Should I Review Before the New Year? The end of the year is one of the best times for a micro or one-person business to review its bookkeeping. Not to fix everything, not to make it perfect — but to regain clarity before January begins. You don’t need accountant-style reports or complex reconciliations. What you need is a short, practical review that tells you wh
Why Micro Businesses Fall Behind on Bookkeeping (And How to Catch Up Easily) Most micro and one-person businesses don’t fall behind on bookkeeping because they’re careless. They fall behind because bookkeeping slowly becomes harder than it needs to be. It usually starts small. A few transactions don’t get entered. Receipts go into pockets or gloveboxes. You tell yourself yo