Another Great Resource for Entrepreneurs!

Update 2/25/2011 - I'm no longer recommending Outright.com and have removed the link. See Goodbye Outright for my reasons why.


I have found the coolest FREE bookkeeping system online and thought I’d share. Outright.com provides a very nice bookkeeping system that also generates a Schedule C at the end of the year! How cool is that? All you do in input your income and expenses (correctly categorized, of course) and the program will create exactly what you need for your tax return.

I found out about Outright.com shortly after starting my Etsy shop. It was a fortuitous discovery as I had on my calendar for THAT VERY DAY to develop a bookkeeping system. I was going to create my own in Excel and was dreading it. See how procrastination pays?

Not only have I used the Outright system for my Etsy shop, I also set up separate accounts for my freelance writing and custom memorial quilts business. For those of you who have your taxes done by an accountant or CPA, this may not seem that exciting. But I do all the personal taxes around here and I’m telling you, I’m thrilled to have found this! (Can you tell?)

Of interest to anyone with a business will be the YTD Profit feature. On the top right of the page, the system tracks your profits for the year as you input income and expenses. (This would be of especial benefit to my brother-in-law if I could just get him to sign up.) For folks that don’t have a business, I can see that this could also be a really good way to track personal or family expenditures. So check it out and sign up if you feel it might be of benefit.

Please Note – I have no affiliation with Outright.com other than being a happy user of the system.