An Empowering Client Story

I just had a client come in and give me a “high five”. She was totally excited that she was able to complete her bookkeeping work all on her own whereas this time last year she was completely terrified to even talk to a CPA or look at her business finances.

She said she now feels like she can use QuickBooks like it’s Microsoft Word and not a big scary program like before. She also strongly encouraged me to share this story since she never felt this type of freedom was possible.

Since she reached out to me last summer, we’ve been working together to clean up her QB file which was a big MESS inherited from her previous bookkeeper. And in the process, she has steadily been releasing her fears and resistance and now feels completely empowered and has even gained a sense of strength from knowing that her numbers are clean and straight.

I’m sharing this because it makes me so happy to see this transformation occur with my clients over and over again and because it is my passion to help entrepreneurs make their accounting processes and procedures easy, enjoyable and even fun!

If you are even a little bit afraid of your numbers and don’t want to be, I can help relieve your stress! Please give me a call for a complimentary “Love your Numbers” 30 minute discussion about the current state of your business accounting. You can do this!

Let me know if I can help.



Small Business? Know Your Money Big Time.

As a small business owner, what do you need to be doing with your money?

  1. Your accounting system needs to be clean, effortless to access, and easy to review at any time; therefore, proper setup up of your “system” is the essential first step. If you need help, ask.
  2. Once you have setup your accounting system, it is important that you are consistent with how you manage your accounting system on a monthly, quarterly, annual basis. Calendar it. (Gives a whole new meaning to being accountable!)
  3. In order to maintain your system, it must be simple, easy to use and scalable. And accordingly, painless to train and monitor a bookkeeper or other accounting staff as you grow.
  4. Always sign all your business checks so you know where your money is going. If you are using a payroll processing company such as Paychex or ADP, direct deposit, or online bill pay, then you should review your bank account details at least once per week and your credit card statements once per month for any unusual transactions. You need a good banking relationship – and not just with a banker that you see once a year.  Be sure to talk to your banker regarding what they require to get a line of credit or other type of loan BEFORE you need the money.
  5. As your business grows, and assuming you are not an accountant or very disciplined with financial details, you need to outsource the daily data entry of your accounting transactions.  Then you can spend your time on growing your business and doing what you do best. My recommendation, in addition to hiring a bookkeeper, is that you regularly work with a higher level accountant with expertise to help you set up, train and monitor your bookkeeper and build internal controls into your accounting system.
  6. Above all, stop being afraid of your numbers. They are, if you pay attention, soon to be your greatest asset.

January is the time to wrap up the old and start with the new

This goes for all your 2011 and 2012 tax, accounting and bookkeeping work as well.

Now is the time to meet with your tax accountant, if you haven’t already, to calculate your tax estimate for 2011 so you can avoid penalties and interest for not paying your tax on time.  Remember, for self-employed individuals and partners or shareholders who receive K-1 income, January 17th is the due date for your 4th and final 2011 estimated tax payment (Form 1040-ES).  In addition, good planning now will help you avoid a big tax bill surprise in April regardless of whether you are self-employed or not.
Continue reading