Is Wave for me? Hobby business...
patmat2350
Member Posts: 2
I'm retired, with a small hobby business... meaning it involves traditional hobby subjects (crafts), but is little more than a hobby in the IRS sense... just enough where I feel compelled to do a Schedule C for it.
I'm also a brand-new-comer to Wave and accounting, trying to move away from spreadsheet accounting.
So I'm a little confused about how to use Wave, especially with the recent announcement about reduced support for the Personal side of the tool. I want a tool that will let me track my personal expenses, but also track "business" expenses which in my case use the same bank accounts.
- Should I go ahead and use Wave?
- Should I just treat my whole life as a business, and simply categorize Personal vs. Business expenses & incomes within the one tool, allowing me to separate out the necessary Sched C stuff as needed?
TIA, PM
1
Comments
Wave is still a good fit. The only major item that has been removed from the personal side is the budgeting option. Other than that, you will still be able to track expenses for both personal and business line items.
@mdconsultingatl appreciate the input!
@patmat2350 welcome!
Hope to see you both in the forum!