How to Track Business Income and Expenses (Without Getting Overwhelmed)
You’re doing your best—tracking your sales, paying your bills, saving receipts when you remember—but deep down, there’s that voice in your head:
👉 “Am I doing this right?”
👉 “What if I get audited?”
👉 “What if my CPA yells at me for screwing it all up?”
If you’re a coach, creative, service provider, or LLC owner trying to make sense of your finances—this is your sign that you’re not alone.
Most small business owners feel uncertain about how they’re tracking income and expenses—especially around tax time. The good news? With the right system, you can fix it (and breathe again).
😨 The Real Fear: The IRS… or Your CPA
Let’s be honest—it’s not just about the audit. It’s the fear of:
“You’re missing a ton of write-offs.”
“These reports don’t make sense.”
“We need to clean this up before we can file.”
That embarrassment and stress is real. But it’s also avoidable.
✅ How to Know You’re Tracking Things the Right Way
Use a dedicated business bank account
Mixing funds is the #1 red flag in audits. Keep business and personal completely separate.Get on bookkeeping software like QuickBooks
It tracks income, expenses, and categorizes automatically. Plus, it generates reports your CPA will love.Save every receipt—digitally
Use apps like QuickBooks Receipt Capture or Dext. Store them in one place for easy access (and peace of mind).Keep categories consistent
Use standard expense categories like advertising, meals, supplies, mileage, etc. Don’t make up your own—that just confuses your CPA.Check your books monthly
A monthly 20–30 minute review keeps your records clean and your anxiety low.
❓ FAQ: Am I Tracking My Business Finances the Right Way?
Q: How do I know if I’m missing deductions?
A: If you’re not tracking consistently, it’s almost guaranteed you are. Commonly missed deductions include home office use, software subscriptions, and mileage.
Q: What happens if I get audited and my books are messy?
A: You could owe back taxes, face penalties, and lose deductions. But good records are your protection—and it’s never too late to clean them up.
Q: Will my CPA be mad if I bring in messy books?
A: They might be frustrated, but they’d rather help you now than fix it during tax crunch. Even better—bring them clean books with help from a pro.
💡 “If you’re scared you’re doing it wrong—it means you care. Let’s turn that stress into confidence.”
Dr. Bryan Raya helps small business owners get organized, clean up their books, and stop fearing audits and tax time.
📞 Book your free call with Dr. Bryan Raya today. We’ll make sure your income and expenses are tracked the right way—so your CPA has nothing but praise.
Let’s start Doing Business Right!
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