Morning – here is the thing, I want to move to Xero for my own consulting company, but after going into business this year for my contracting business, I decided to go natural with an Excel spreadsheet or series of them – I use them for time tracking, for tracking receipts and for coding bank accounts and credit cards – it is pretty simple – I do GST every 6 months – and it works – but it is not sustainable longer-term – and I know that – and I will move to a things like
– Xero for accounting
– Monday.com for time tracking
– Receipt Bank for expenses
and I will start coding all of that myself – until I understand it – then I might be a book-keeper.
No drama doing it yourself, as long as that time does not distract you from bringing in new clients and supporting your existing clients – if it does, outsource it.
Also note, you don’t have to do GST if you don’t think you will book over $60k income.