March 2022

“So why do I need a bookkeeper if I already have an accountant? Don’t you guys do the same thing?” Well – not exactly. 😉 Here’s the easiest way to explain the difference: 🩺 A nurse’s relationship to a doctor 🤓 Is like a bookkeeper’s relationship with an accountant. (And let’s be real – EVERYONE knows it’s the nurse who REALLY knows what’s going on with the patients, right? 😉 ) So, that’s what the difference is. We will explain 3 reasons why it’s important to have a year-round “nurse” for your finances and not just an annual “doctor” appointment with your accountant. 𝟭- 𝗜𝘁’𝘀 𝗖𝗵𝗲𝗮𝗽𝗲𝗿 💰 We know, we know, it sounds counterintuitive that hiring someone will SAVE you money, but it’s true. A bookkeeper will help you:
Capture every tax-deductible expense (before you lose the receipt)
Prevent double payments
Increase your profit margin
Save you from late filing fees

Do you have an “emergency savings fund” for your business? 💵 If you don’t, maybe you genuinely like the idea of having one … but just don’t know where to start. If that’s where you’re at, then this post is for you. (𝟭) 𝗙𝗶𝗿𝘀𝘁, 𝘄𝗵𝗮𝘁 𝗶𝘀 (𝗮𝗻𝗱 𝗶𝘀𝗻’𝘁) 𝗮𝗻 “𝗲𝗺𝗲𝗿𝗴𝗲𝗻𝗰𝘆” 𝗲𝘅𝗽𝗲𝗻𝘀𝗲. There’s a difference between an “emergency” expense and an “overlooked” expense. Forgetting about your quarterly property tax bill, or your annual accountant invoice – well, that doesn’t count as an emergency. 😉 Those are bills you can plan and budget for normally. An “emergency” is something urgent and unpredictable, like a burst pipe in a building you own 🚰 (𝟮) 𝗪𝗵𝗲𝗻 𝘁𝗼 𝗽𝘂𝗹𝗹 𝗳𝗿𝗼𝗺 𝘆𝗼𝘂𝗿 𝗲𝗺𝗲𝗿𝗴𝗲𝗻𝗰𝘆 𝗳𝘂𝗻𝗱 (𝗮𝗻𝗱 𝘄𝗵𝗲𝗻 𝘁𝗼 𝗵𝗼𝗹𝗱 𝗼𝗳𝗳). Before you pull from your emergency fund, ask these three questions: 1 – Is this expense unexpected (and not just overlooked)? 2 – Is it necessary? (A cracked iPhone screen, if the phone still works, doesn’t count!)

3 – Is it urgent? (Will the problem worsen, or will a vital opportunity be lost?)

“BUT WAIT! THERE’S MORE!!” Remember that TV sales guy back in the early 2000s? The one with the beard who was always yelling about the 𝘮𝘪𝘳𝘢𝘤𝘭𝘦 of OxiClean? (Side note: what is it about those TV salesmen that made them believe that the LOUDER they yelled, the more likely you are to buy?) And not only could it get out impossible stains, but it was also such a MIRACLE product, the salesman made it sound like it could: 🛢️ Clean up the BP oil spill 💍 Improve your marriage. 🧪 AND split the freakin’ atom! When really, at the end of the day: 🧼 It was just laundry detergent 🧼 We promise we are headed somewhere with this visual – show up tomorrow for this to start making some bookkeeping sense. LOL! Those goofy infomercials got us thinking about our bookkeeping business. So – here’s what we can honestly do to help you. No hyping, yelling or overpromising. Just facts:

❌ Technically, yes – you can learn how to do your own bookkeeping and do it all by yourself without hiring anyone.

How would you like to lower the stress level in your business? 💵 👉 Then let’s talk about your accounts payables first. I know, I know, it’s a lot more exciting and fun to talk about your new clients and the money coming IN the door. But one of the easiest ways to de-stress your business finances is to manage the money going OUT the door. 𝗦𝗼, 𝘄𝗵𝗮𝘁 𝗶𝘀 “𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝘀 𝗣𝗮𝘆𝗮𝗯𝗹𝗲”? This is the money that is going out of your business 𝘪𝘯 𝘵𝘩𝘦 𝘯𝘦𝘢𝘳 𝘧𝘶𝘵𝘶𝘳𝘦. When you receive an invoice, like from a vendor, that unpaid invoice is categorized as “accounts payable” (basically, “to be paid”). Then, once that invoice is paid, it’s categorized as an expense. It can include things like utility bills, rent, and invoices from your vendors and subcontractors. (However, payroll is not included in this classification) What is your stress level when it comes to your accounts payable (money going out the door)?