Monitoring Expenses 

Did you know that good bookkeeping can help you both make – and save – money? 

It’s true! And here’s 4 of my favorite profit-increasing bookkeeping tips you can start using today:

(𝟭) 𝗔𝗨𝗗𝗜𝗧 𝗬𝗢𝗨𝗥 𝗘𝗫𝗣𝗘𝗡𝗦𝗘𝗦

Expenses billed as subscriptions are especially sneaky!

Take a minute to 𝗿𝘂𝗻 𝗮𝗻 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝘀 𝗽𝗮𝘆𝗮𝗯𝗹𝗲 𝗿𝗲𝗽𝗼𝗿𝘁 spanning the last 3-6 months.  Then cancel anything you aren’t using anymore (or downgrade to a cheaper and more limited version).  You could save hundreds – or thousands! – a year.

(Btw – did you know

So, AP kicking your tail? Hard to keep up with the bills, the due dates, the changes in pricing?  

Here are my favorite accounts payable tips to make this part of your business easier:

GO PAPERLESS

Most vendors offer an option to email your invoices – so take them up on it.  It’s a faster and easier way to keep track of your vendor invoices.

AUTOMATE PAYMENTS

Many vendors – especially for recurring charges – will automatically bill you every month.  And even if they don’t offer that

Don’t forget – the federal tax deadline is coming up on May 17th!  Is your small business’ bookkeeping up to date and ready for it?  

If you’re not sure, here are 5 quick tips on how to double-check – and get up to speed!

(1) Are your personal accounts (and expenses) mixed in your business records?

Do you have personal accounts connected to your business Quickbooks?  Or a lot of personal expenses running through your business accounts?  Both are big no-no’s!  Try to keep them separate –

Would you like to keep more of your money in your own pocket? 

Here are 3 bookkeeping tips to help you increase your profit – and put more money in your pocket – without increasing your prices:

(1) DOUBLE-DOWN ON YOUR CURRENT CUSTOMERS

Did you know that it’s 5 times MORE expensive to get a new client, rather than just to keep your current clients happy and buying? So focus on meeting their needs and selling more to them first.

(2) AUTOMATE YOUR PROCESSES

Time is money, right? And if you get

Quick pop quiz!  Do you know how often you should be doing your small business bookkeeping? 

Is it:

(A) Every week?

(B) Every month?  Or

(C) Once a year in a panic when your accountant asks about it at tax time?

Now, hopefully, you already know it’s not C (even if that’s the way it may happen for you most years!)

The answer is (B), every month! (At the bare minimum) 

But … do you know exactly which bookkeeping tasks need to be done … and when?  

For example, some bookkeeping tasks

So, be honest – how many times have you been given unsolicited advice … by people who have absolutely NO business giving you advice?

Dog owners telling you how to parent your kids (because they think the same advice applies to kids and dogs)

Your mother-in-law telling you that you need to update your hairstyle (even though she still wears a 1960s beehive)

Your friend who’s had the same corporate desk job for 11 years and says, “Let me tell you what you SHOULD be