It's tax time, which means it's time to organize your business income and expenses to make sure you get the best possible tax outcome.
Don't have accounting software, like QuickBooks Online? Don't worry! We have created a Business Income & Expense Template that will help you navigate organizing your business activity so that tax time is a breeze.
To complete the template, review the following tabs:
- Summary: This tab will total your activity based on entries in the “Transactions" tab. Once you have entered all business transactions, your tax expert will use this tab to complete your tax return.
- Transactions: In this tab, you will enter all business income and expenses for the year and categorize them based on the type of transaction.
- Accounts List: This tab provides guidance on when to use each account to help you properly categorize your transactions.
That's it—you're ready to tackle tax season!