Money · 5 min

Tracking expenses without losing your mind

A 15-minute weekly routine that survives a real six-day week behind the chair.

1
One account, one card
Every business dollar in and out moves through one checking account and one card. Keeping business income and expenses in one dedicated account makes bookkeeping dramatically easier.
2
Know your deductible categories
Rent, product and backbar, tools and shears, laundry, education, licenses and insurance, software and booking fees, card processing, marketing, mileage between locations, and a home office if you do admin there.
3
Photograph receipts at the register
Snap it before you leave the counter and drop it in one album or folder. Paper receipts fade — literally.
4
Fifteen minutes every Sunday
Categorize the week, log cash tips, and move your tax percentage into the tax account. Do it before you plan the week ahead.
5
Review the monthly total against your target
Track overhead as a percentage of revenue. If it climbs two months in a row, either prices or product usage needs attention.

Watch out for

Cash tips are taxable income and they're what most stylists forget to log.
Big tool purchases may need to be depreciated rather than deducted all at once. Tax rules vary by situation and state — confirm your specific deductions with a qualified tax professional.

One account, one card