How to Track Income for Bloggers & Creative Entrepreneurs

How to Track Income for Bloggers & Creative Entrepreneurs

If you are a blogger or creative entrepreneurs you should put a system in place for tracking income from day one.

From the moment I made my first dollar as a solopreneur, I grabbed a notebook and wrote down the most important aspects of my revenue sources. My first source of income was from referrals. I’d refer my readers to resources I used and loved. In return, I’d make between $0.80 and $8.00 for smaller referrals and as much as $250 for larger ones. Every time I earned revenue, I’d write it down in a notebook. When it paid out, I’d write that down too. At that time my expenses were small, but I also kept track of them. I mean, how else would I know if I was at a profit or loss.

Whether you make $50, $500, or $5,000 a month, good accounting habits are too important to ignore. Without accurate records, you’ll never have a clear picture of what you’re actually making.

From month to month you should know what you’ve paid out and how much you’ve earned after expenses. The best way to track income is digitally using a spread sheet. I taught a live class that walks you through how I set up my spreadsheet to track multiple revenue streams.

 

Class Link: Show me the money! | How to Track Your Income Like a Boss

How to Track Income for Bloggers & Creative EntrepreneursAs soloprenuers you don’t need complicated systems to track your income. You need something that’s streamlined and simple. With my system I’m able to track income, revenue, pending payment, expenses, year-to-date earnings and income goals. I designed the system with creative-preneurs in mind and the goal was to make tracking income and reporting it at tax time stress free. Everything your tax preparer will need is right there in your excel spreadsheet. At the end of the year, I print it and bring it with me to my tax appointment. After I finish filing my taxes, everything goes in my tax return filing system.

Class content

  • What you need to track for Sponsored Partnership
  • What you need to track for Affiliate Networks
  • What you need to track for branded product sales
  • What you need to track for Ad Networks
  • How to format excel cells to track income vs. revenue
  • How to join income & revenue goals
 Are you ready to set up your income tracking sheets? Click on the class link below to get started.

Are you a female CreativePreneur? Join Passion To Profit Clique, a private Facebook group where I show creatives how to increase their income $1,000 at a time with affiliates, ads, product creation and sponsored content. My goal is to help 2,000 creatives make a full-time income blogging in the next 12-months!

7 Comments

  1. I agree, it is important to track the income. These tips are really good.

  2. Tracking expenses and earnings is one of those things that you have to make sure that you do. Everyone should have some sort of system or plan in place.

  3. Amanda Schreiber
    at

    I’ll echo what familyearthtrek said, I wish I was at this point! But I share the same views about ads. Fingers crossed for organic cash flow sooner or later without selling my soul 🙂

  4. Yes indeed tracking income is so important. Excel sheets are my favorites to work with. And it makes it so much easier when tax time comes around.

  5. This is a really informative post. Especially, with tax season right around the corner. This information is really important to implement year around.

  6. This is really helpful. I’m self employed and this is one task I dread the most, but your tax return filing system sounds great. I will need to reference this later for sure.

  7. Ohh my I wish I was there already…earning money with my blog. But I am not sure though I want to end up like many blogger who sold the soul of their blog just to review a piece of..something. The ads in the face and making up silly topics just to review…a buiscuit…when I though it was going to be genuinely about a beautiful hike.

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