As a Small Business Owner, Can I Do My Own Bookkeeping?

Kimberly Green | 2025-05-06

If you're a solo founder, small team, or running a side hustle that’s suddenly making real money, you’ve probably Googled this: "Can I just do my own bookkeeping?" And the answer is technically yes—but that doesn’t mean it’s a good idea long-term. This post breaks down: Why DIY bookkeeping can work (for a while) When most small business owners get in over their head What you need in place to do it well When to hire someone—before it gets messy Yes, You Can Do It Yourself (At First) If you’re just getting started and have: Fewer than 30 transactions per month No employees or contractors yet One bank account and one credit card You can absolutely DIY your books using tools like QuickBooks, Wave, or even Google Sheets (though we don’t recommend that for long). “You can manage your own books—just know it gets way more time-consuming and complicated as your business grows.” — Reddit user Here’s Where DIY Starts to Break Down We see this all the time on Sam’s List : business owners who’ve grown quickly but haven’t updated their systems. They’re: Logging into 3+ accounts trying to match transactions Forgetting to reconcile bank statements Unsure if their business is actually profitable Behind on 1099s, taxes, or sales reporting “If you're spending more than 30% of your time doing bookkeeping, it's time to hire someone. Don’t let your business outgrow your systems.” — Kimi, Co-founder of Sam’s List Want to Do It Yourself? Here's What You Need Non-negotiables for DIY bookkeeping: A system (QuickBooks, Xero, or Wave—don’t do it manually) Bank account syncing with real-time data Monthly reconciliation Clear categorization (e.g. meals vs advertising vs payroll) A tax preparer to review your work quarterly or annually Need a bookkeeper who can help just a few hours per month? Hire one on Sam’s List. When to Make the Switch to a Pro Hiring a bookkeeper or boutique firm might cost $300–$1,000/month—but it usually pays for itself in: Time saved Taxes reduced Stress eliminated Here’s when to stop DIY: You're making $250K+ in revenue You're launching multiple products or services You manage contractors or payroll You're getting ready for fundraising, loans, or tax season Real Talk from the Community “I thought I was saving money doing my own books. Turns out I was miscategorizing income, double-counting expenses, and had no clue I was losing $2,000/month.” — Reddit thread on r/Bookkeeping...