3 Simple Bookkeeping Hacks Every Course Creator Should Know

Managing your business finances is probably on your to-do list for this year—and if it’s not, it should be. While you may already know it’s important, getting a handle on your money without the stress of trying to figure it all out can feel overwhelming. But here’s the truth: if you don’t know exactly how much is coming in and going out, your money isn’t working for you. That’s why I’m all about making bookkeeping as simple and powerful as possible. By using these easy hacks (and with the help of QuickBooks Online), you can finally get control of your finances. Ready to streamline your money management and let it work as hard as you do? I’m sharing three essential strategies that every course creator needs to know.

Making money is one of (if not THE) main goal as course creators, but if we don’t know exactly how much is coming in and going out, it is almost impossible for us to make the right decisions for our business. Without that clarity, the money we work so hard for doesn’t work for us. That’s where these bookkeeping hacks come in. By automating your transactions, seeing the profitability of each course, and generating custom reports of numbers you want to see, you can finally get a clear picture of your business. And the best part? QuickBooks Online helps make it all happen, giving you the tools to take control of your money so it works as hard as you do.

Hack 1: Automatically Track all Your Income and Expenses

Getting smart about tracking your money can make a world of difference in managing your business. You probably already know that keeping track of your income is important, but what many people don’t realize is that tracking your expenses is just as crucial. Every payment you receive and every dollar you spend tells a story about your business—and if you’re not following that story closely, you’re missing key information.

Just like how your activity on social media affects what content you see, how you handle your money can impact your business’s financial health. By automating the tracking of both income and expenses, you’ll have a clear view of where your money is coming from and where it’s going. This helps you stay organized, avoid surprises, and make better decisions.

How to do it: Start by connecting your business bank accounts and credit cards to your QuickBooks Online account. This will automatically import your transactions. Set up rules to categorize income (like course sales or affiliate commissions) and expenses (like marketing costs or software subscriptions). This way, both income and expenses are tracked and sorted for you without having to manually enter every transaction.

Why it’s helpful: You’ll have a full picture of your finances, knowing exactly how much you’re making and spending. This makes it easier to spot trends, save money, and make decisions based on real data—leaving you with more time to focus on creating and selling courses.

Hack 2: Track Course Profitability with Project-Based Bookkeeping

It’s easy to feel like you need to track every tiny detail to understand your course’s success, but that can make your bookkeeping more complicated than it needs to be. Instead, focus on the big picture. By using project-based tracking, you can keep things simple while still getting powerful insights into how much each course is earning and costing.

Rather than tracking all your business finances in one big pool, divide them up by course or project. This way, you can see exactly how much you’re spending to create and market each course and how much profit it's bringing in. It’s a simple, effective way to get a clear view of which courses are performing best and which ones might need more attention.

How to do it: In QuickBooks Online, create a “project” for each course you offer. Every time you receive income from a course or pay for an expense related to it (like marketing or production costs), assign that transaction to the appropriate project. At the end of the month, generate a report for each project to see how much you made, how much you spent, and how profitable the course is.

Why it’s helpful: This method gives you an easy-to-read breakdown of each course’s financial performance. Instead of guessing which courses are driving your profits, you’ll have real numbers to guide your decisions. You can focus your efforts on the courses that are most profitable, and adjust or cut back on the ones that aren’t performing as well.

Hack 3: Use Custom Reports for Business Insights

Keeping track of your finances can feel overwhelming, but you don’t need to spend hours every week poring over numbers to understand how your business is doing. By using custom reports, you can get all the important information you need in a fraction of the time. Instead of manually checking every income and expense, you can set up reports that gather and organize the data for you.

Just like connecting your bank accounts to automatically bring in all your transactions, custom reports do the heavy lifting for you. They help you see exactly how much money your courses are bringing in and where your biggest expenses are. With this information, you can make smarter decisions without having to dig through your financials every day.

How to do it: In your QuickBooks Online account, go to the reports section and choose to create a custom report. Select the data you want to track—like revenue, expenses, or profit margins—and choose a timeframe that works for you (weekly, monthly, or quarterly). Once your report is set up, you can pull it anytime to get a clear snapshot of how your business is performing.

Why it’s helpful: Custom reports give you a bird’s-eye view of your business. You can see which courses are making the most money, spot where you’re overspending, and even compare month-to-month growth. Instead of manually checking each transaction, you’ll have all the key details organized and ready to use. It’s like setting up your social media posts on a scheduler—you do the work once, and the system keeps running for you!

Bookkeeping Doesn’t Have to Be Complicated

Having a smart approach to how you track your income, expenses, and profits means you’ll spend less time stressing over your finances and more time focusing on what you love—creating and sharing your courses. Small adjustments, like automating your transactions or using custom reports, can lead to big results when it comes to understanding and managing your business.

Remember, bookkeeping can be simple. You don’t need an overly complex system to keep your finances in check. By using a streamlined, but effective process, you can stay on top of your money and make informed decisions that help your business grow. Your goal? Make sure your money is working for you, not the other way around.