The Thin Line Between Personal Finance And Small Business Bookkeeping

Over a month ago, I was asked to write an article about Wesabe, Geezeo and Mint for an online site. I wrote my piece, but the editor gave notes that required more work including actual journalism (fact checking and writing more than one paragraph). I am much better blogger and than a writer, so it is kinda hard to me to do that efficiently without agonizing every word. [I suck.] Anyway, I found this article about personal finance sites and it covers some of the same material that I would have done. The information is very valuable for both personal finance and for small business bookkeeping. It got me thinking that the two should not be strictly separated. Never commingle personal funds with business funds but realize the your personal expenses affects your businesses expenses and vice versa. I give my bookkeeping clients advice on how to manage and organize personal and business finances for one big reason—All of this information will probably be reported on ONE tax form, a 1040 with a Schedule C.

The new Web 2.0 tools are great for start-ups and are user-friendly for any household. CEOs of Geezeo, Mint, and Wesabe would love it if everyone would use their tools for managing bank accounts as small as $100 and as big as $100K.

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