[Series] What Every Entrepreneur Needs to Know About Accounting – Personal Accounting

Accounting Basics

What Is Personal Accounting?

As an entrepreneur, you need to keep score – not only for your business – but for yourself.

Personal accounting is the accounting and bookkeeping you do for your personal finances and is handled a little differently than your business accounting. Knowing these differences and keeping them separate will help you keep a better score and keep you out of tax issues.

I always recommend using a personal financial software package for these tasks. I personally use Quicken – and was a Microsoft Money user before that. Almost any decent package will do – and can help you with everything from managing your bank accounts to your rental portfolio.

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[Series] What Every Entrepreneur Needs to Know About Accounting – Personal Accounting
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