Solopreneurs wear every hat—CEO, sales, customer service... and usually, bookkeeper too.
But just because youcanDIY your books doesn’t mean it’s the best use of your time.
This guide breaks down where solo founders get stuck with bookkeeping, the bare minimum you should be doing, and when it makes sense to hand it off.
Common Struggles We See from Solopreneurs
“The biggest issue we see? Waiting too long to hand it off. By the time they hire a bookkeeper, the books are a mess, tax season is a nightmare, or they’ve unknowingly been cash-poor for months.”
— Kimi, Co-founder of Sam’s List
Here are the most common struggles:
- Not setting up a separate business account
- Forgetting to reconcile monthly
- Categorizing everything as “miscellaneous”
- Falling behind and scrambling at tax time
- Spending hours trying to learn QuickBooks when they should be selling or building
Your Bare Minimum Bookkeeping Checklist
| Task | Frequency | Tools or Notes |
| Separate business finances | Once (ASAP) | Business checking + business credit |
| Track income + expenses | Weekly | Wave, QuickBooks, Xero, Excel |
| Categorize transactions | Monthly | Use automation, double-check |
| Reconcile bank accounts | Monthly | Match bank feed to your books |
| Save receipts & invoices | Ongoing | Keep digital records or appls like Dext |
| Review P&L and cash flow | Monthly | At least glance at your numbers |
| Prep for taxes | Quarterly | Track estimated tax payments |
When to Stop DIY and Hire Help
“Once you hit $250K+ in revenue—or you’re spending too much time tracking transactions—it’s time to bring in help.”
— Kimi
Signs it’s time to stop:
You have multiple income streams or contractors
You’re falling behind each month
Your CPA needs to ‘clean up’ your books every tax season
👉Browse Bookkeepers for Solopreneurs
Bookkeeping Options for Solopreneurs
DIY
Software + support
Outsourced bookkeeping
...based on business complexity and revenue stage.
FAQ
Can I do my own bookkeeping as a solopreneur?
Absolutely, especially at the beginning. Just make sure you’re tracking income, expenses, and reconciling monthly.
Do solopreneurs need bookkeeping?
Yes. Even simple businesses need organized financial records—for taxes, planning, and peace of mind.
What’s the best bookkeeping software for solopreneurs?
QuickBooks, Wave, and Xero are solid picks. Bench adds human support if you’re ready to outsource.
When should a solopreneur hire a bookkeeper?
Once you pass $250K in revenue, have complex reporting needs, or want monthly reports you can trust.
You Might Also Like:
1.Can I Do My Own Bookkeeping?
2.When Should You Hire a Bookkeeper?
3.Bookkeeping Mistakes to Avoid
Author: Kimi, Co-founder of Sam's List
Kimi writes about what she's learning while building Sam's List and shares honest takeaways from her conversations with accountants and financial advisors across the country. None of this is financial advice—just the stuff most people wish someone told them sooner.
