People use their business experience to inform their decisions in all areas of their lives, but none more so than running a household. And like any good business with a good bookkeeper, families benefit enormously from using accounting software, which makes it easy to:
- Track your expenses in greater detail
- Record multiple streams of income
- Keep track of school and extracurricular expenses
- Manage your credit cards, debit cards and bank accounts
The most popular accounting software for home use is Quicken. In addition to many other features, people fall in love with Quicken because it will never forget a transaction. For example:
A family is looking to hire a new landscaping company, and they want to compare bids against what they spent last year. Using their accounting software, they pulled up all the relevant details they needed in order to make their comparisons.
Having all of your data ready to go as soon as tax season opens is perhaps the biggest reward for keeping your finances organized with software. Instead of panic or despair, you will be able to cheerfully comply when your accountant asks for figures on your:
- Charitable contributions
- Deductible medical expenses
- Property taxes
- Estimated taxes payments
- Tax refunds
- Insurance premiums
Now is the perfect time to start. 2015 has just begun, so there is not much catching up to do. If you already have Quicken but do not know how to use it, contact me to see if I can help!