Now that I am working with an accountant, I have been making some changes to the way I track my finances. By the end of the year, I hope to have all of my business-related finances in QuickBooks. Although I am not quite at that point, I am working to separate my personal finances from by business finances. Currently, I tend to move money from my business bank accounts to my personal bank accounts as needed, which makes it difficult to track.
The report I publish on Consumerism Commentary each month will no longer contain anything business related. Any business bank accounts or credit cards will not be listed. I also won’t be publishing my business income online.
This change has affect by net worth numbers going back several years, so if you compare today’s report with any prior month’s report, the bottom lines will be significantly different.
September was another good month in terms of income. My online business continue to diversify and grow. Even with a significant payment to the IRS for quarterly estimated taxes, I managed to bring more in money than I spent. While I won’t be including a full income and expense report, I will post a quarterly investment report shortly.
Personal balance sheet and net worth statement
Feel free to ask any questions. I will be posting a quarterly investment summary shortly.
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{ 3 comments… read them below or add one }
Wow, very impressive monthly online income Flexo!
I hope I have the same level of income after blogging for 8 years when I hang up my boots at my day job. I have a goal to accumulate $3 million in this time period. If I could add another $100,000/yr in online income, that would be so sweet!
Best
Thanks, FS! I agree, $100,000 would be sweet. Good luck with your goals!
What’s going on.
What’s with the change in reporting you financial stats?
just wondering.