Finance management is one of the toughest elements of running a notary business. It includes all the essential tasks that are required for operations like managing invoices, tracking notarial acts, figuring out mileage, and getting ready for tax season. Juggling with all these processes can quickly become overwhelming—especially with dedicated notary accounting software.
Many notaries struggle to keep track of their income, mileage, and expenses. This is why they should use notary management software like CloseWise. It helps you to keep track of all notarial acts and keeps you stress free during tax seasons.
This guide is designed to help notaries simplify and optimize their accounting process. We’ll explore common financial challenges, outline proven bookkeeping tips, and highlight powerful accounting software for notaries like CloseWise, which takes the guesswork out of tracking and reporting your finances.
Why Notary Accounting Deserves Special Attention
Unlike traditional 9–5 jobs, notaries—especially mobile notaries and signing agents—juggle multiple appointments, track mileage, collect payments, and manage varying fees based on state laws or job types. General accounting tools often fail to accommodate the nuances of a notary’s business.
Let’s take a look at some of the most common financial hurdles notaries face:
- Tracking Notarial Acts Each notarization needs to be recorded not only for compliance but also for income tracking. Without a structured system, it’s easy to lose count or miss billing for completed acts.
- Keeping Track of Mileage For a mobile notary, mileage is one of the biggest deductible expenses. The rate of mileage varies from state to state and hence manually logging every trip is a challenge. It is not only tedious but also an error prone practice.
- Creating and Tracking Invoice: For any business, invoicing is a must. It is essential for a healthy cash flow. For any notarial act, a notary management tool like CloseWise automatically generates invoice, making things easier for you. Notaries who invoice manually often find themselves chasing payments or forgetting to bill altogether.
- Categorizing Expenses: It helps notaries track costs, maintain accurate records, and maximize tax deductions. It simplifies budgeting, prevents overspending, and ensures compliance with tax regulations.
- 5. Preparing for Tax Season: Tax season preparation includes complying with tax laws to avoid penalties. Organized records enable claiming deductions, reducing taxable income and saving money.
Best Practices for Managing Your Notary Business Finances
Whether you’re just starting out or looking to streamline your growing practice, following these bookkeeping tips for notaries can help you stay organized and tax-ready all year long.
- Use Dedicated Accounting Software For Notaries Generic accounting tools like Excel or QuickBooks may work in some situations, but they lack the customization needed for notarial work. Software like CloseWise or NotaryGadget is built for notaries—automating everything from mileage tracking to notarial act recording and invoice generation.
- Log Every Job and Notarial Act Immediately Make it a habit to record each signing appointment and notarization as soon as it happens. This ensures nothing slips through the cracks and keeps your income records accurate.
- Separate Business and Personal Accounts Open a separate checking account and credit card for your notary business. This keeps your records clean, simplifies tax prep, and presents a more professional image.
- Reconcile Your Accounts Monthly Compare your accounting software records with your bank statements each month. Reconciliation helps identify errors or missed transactions before they pile up.
- Track Your Mileage Religiously The IRS allows you to deduct mileage for business-related travel. Use software with GPS tracking or built-in mileage logs to automatically capture this data.
- Back Up Your Records Use cloud-based accounting software or regularly back up your files to prevent data loss. If you’re ever audited, digital backups can be a lifesaver.
Make Life Easier With Accounting Software For Notaries
CloseWise – The All-in-One Notary Business Management Tool
CloseWise is more than just accounting software. It’s a comprehensive notary business platform that integrates scheduling, client management, financial tracking, and reporting in one place.Key Features:
- Built-in Accounting Dashboard – Monitor your income, expenses, payments, and pending invoices with a visual dashboard.
- Notarial Act Tracking – Easily log every notarization for compliance and reporting.
- Mileage Logging – Record mileage for each job to maximize tax deductions.
- Tax-Ready Reports – Generate comprehensive summaries to share with your accountant during tax season.
- Automated Invoicing – Save time with customizable invoice templates and automatic follow-ups.
- Customizable Website – It gives you a ready-to-use customizable website.
How to Choose the Best Notary Accounting Software for You
There are multiple options available for notary accounting software. You just need to consider one that suits your requirements.
- Features You Need – Do you need mileage tracking? Invoicing? Tax reports?
- Ease of Use – Is the interface beginner-friendly, or will you need training?
- Integration – Does the software sync with other tools you use (Google Calendar)
- Customer Support – Can you get help quickly when something goes wrong?
Budget – Choose a tool that offers value without breaking the bank.
Final Thoughts: Let Software Simplify Your Financial Life
Running a notary business is rewarding, but the back-office tasks—especially accounting—can drain your time and energy. Fortunately, you don’t have to do it alone. With specialized notary accounting software like CloseWise, you can eliminate guesswork, ensure compliance, and stay tax-ready year-round.
So if you’ve been relying on spreadsheets or scrambling during tax season, now’s the time to upgrade. Not only will your books look better, but your business will run smoother—and that means more time for what you do best— serving your clients.