You wrote a book! You poured your heart and soul into it, spending hours upon hours wordsmithing and getting your message just right. Congratulations, that’s half the battle. But then come all the other pieces that indie authors are responsible for–designing a cover, hiring a professional editor, and marketing your book. As you start to engage in these activities, it’s a good idea to budget for and track your book expenses as you go. I offer a simple way to track your book expenses.
Keep it simple–track your book expenses as you go
I built a spreadsheet that I use to track my book expenses, and recommend you do this as well. It’s a simple Excel spreadsheet with each expense type, date of purchase, and cost, and notes to reference later.
Examples of expenses are cover design, editor, advertising, URL domain hosting, and anything else you outsource.
Amazon typically sends royalty checks 60 days after your first sales. You’ll want to record your royalties per book, and you can use this tool. When it comes time to do your taxes, you’ll be glad you have this information organized all in one place.