Self-employed or incorporated
Whichever way you're set up.
When you start, PeaceBooks asks one question: are you self-employed, or is your business a company (incorporated)? It sets up the right accounts for you, and the screens stay just as simple.
Self-employed
- Your business income and expenses, in plain words
- “Paid myself” for money you take out (it isn't an expense)
- A mileage log for your own vehicle
- Things that are partly personal, split by a share you set
- A year-end file for your accountant or for TurboTax
A company
- “The company owes you”: things you paid with your own money, mileage, and money you put in, less what you've been paid back
- Paying yourself a wage through payroll, or paying back what the company owes you
- Two or more owners, each with their own sign-in
- A spouse who owns the company with you, kept together
- Advanced mode with the balance sheet your accountant expects
Partners and the people who help
Each owner signs in with their own email. You can also let in your accountant, a helper who adds receipts, or someone who can only look. Everyone sees the same records, so nothing is entered twice.
Not sure which you are?
If you registered a corporation (you'll have articles of incorporation and the company files its own tax return), choose company. If you file your business income on your own personal tax return, choose self-employed. Your accountant can tell you for sure, and you can change it later in Settings.