Bookkeeping software ain’t sexy but it’s important. If you want to have a successful career in professional drumming, you’ll also have to master some kind of bookkeeping software. Knowing how much money is coming in and how much is going out of your business is essential to your survival.
When I started out, I designed elaborate Excel spreadsheets but soon realized that keeping track of my expenses and income was going to get increasingly messy that way. It also didn’t enable me to run reports for filing taxes and income statements of different time periods.
I next used some bookkeeping functions that came with my drum teaching scheduling software. That was great and I could run reports but there were still some missing pieces.
After I moved to Japan in 2016, I discovered Wave bookkeeping software. It’s a web-based program (for companies in the US and Canada) that has all the bells and whistles of the best accounting software but with one HUGE difference. WAVE IS COMPLETELY AND TOTALLY FREE!
No affiliate marketing for Wave bookkeeping software
As I said above, Wave is free so there is no affiliate marketing program for this software. I am not earning any commission by sharing this information with you. I simply want you to be the best you can be in your drumming and drumming business.
With all products and services I recommend, they have to meet two criteria:
- I use them and they have worked well for me.
- I think they would benefit you too.
Wave, meets both of those criteria which is why I wanted to share this information with you.
This is bookkeeping software for drummers!
The thing I like most about Wave is how easy it is to use! I’m not the smartest guy when it comes to technology and accounting. Wave took my non-technical mind into account when they designed their software.
I think most of us creative types would just rather be creative all day and not deal with the drudgery of daily business tasks. Some big-time drummers even hire accountants or other bookkeeping professionals to handle their financial details.
I think if I was making loads of money, I might do that too. Wave however, is the answer for those of us who haven’t yet achieved rockstar status.
My fellow drummers…Pay your taxes.
I know some musicians who don’t file their taxes every year. They just think it’s a pain in the butt. Their thinking is like “Hey, I don’t make that much anyway, so what’s the difference?” They’re just hoping the day of the tax man knocking on their door never comes.
Well, I’ve got news for you. It’s a heck of a lot more painful to pay your income and sales taxes with interest and penalties later, than just paying them as they are owed. I have never had any troubles with this as I have always counted every penny (yen) I have earned through my business and reported my income accordingly.
The way I am able to do this with relative ease is by using bookkeeping software like Waveapps. In Wave, it’s super easy to print out year-end income statements. I can also print them for any other date parameters I need.
When it’s tax time, you won’t stress anymore about income and expenses. They’ll all be right there at your fingertips by logging into your Waveapps account.
Other ways to use Wave bookkeeping software
I also track all of my music royalty and merchandise sales through Wave. This is all super handy to pull reports on total CD’s sold (Yes, I sell CD’s in Japan!) or how much money I’m bringing in from music publishing.
I can also see how much I’m making from drum lessons or from gigging. It’s all pretty cool. Wave helps me know which income streams are strongest. I may put more energy into those streams in the future and focus less on the weaker streams.
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Handy receipt phone app
Wave also has a handy app to take a photo and upload your receipts to your Wave account. You can then edit the details of each receipt in Wave. I still keep my hard copy receipts but having an electronic copy is also helpful.
I will say that the app is sometimes a bit glitchy but all-in-all, it works pretty good.
Other paid services and features
There are other paid services you can use on Wave and you can do so much more with it than I do. I have never paid for anything on Wave and it works just fine for me. In the era of “monthly software subscriptions” this is really nice.
If you are looking to get your drumming business financial house in order, Wave can definitely help you do it. At the start, it will be a lot of data inputting on your computer but it will be worth it in the long run.
If you get paid anything for your drumming skills or merchandise sales, keep track of it. Keep track of all of your expenses related to your business. For definitions about what are acceptable business expenses, consult your respective tax authority.
The bottom line is, you need to know at any time what your bottom line is! Wave will help you do that so you can KEEP ON DRUMMIN’! Take care and stay safe!
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