Records
Keeping records as you go
Records kept as you go take a few minutes a week. Records rebuilt at the end of the year take days, and are usually incomplete.
What to record
- Date and amount of every payment, and who paid
- Every cost: fees, materials, subscriptions, postage
- Hours spent, including messages and admin
Where
A simple spreadsheet or a notebook is enough. Keep receipts and payment confirmations in one folder, named by month.
When
Pick a fixed time each week, such as Sunday morning. Ten minutes is usually enough.
Why it matters
Side income is usually taxable, and records make tax returns simpler. They also show your real hourly figure: what you kept divided by the hours spent.
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