Bookkeeping tips to help you build a solid financial foundation for your business.
As a small business owner you don't have extra money to throw around.
I get that. I love saving money whenever I can. Which is why I want to let you in behind the scenes of my bookkeeping business.
The best time of year to start your new bookkeeping system is January 1. This keeps all your records for the year in one place and ensures tax time will be a breeze.
And the best time to hire a bookkeeper? February.
Seriously? YES! If you hire a bookkeeper in February it will be the least expensive because I don't need to clean up any previous months and your January bookkeeping is completed in February! That means there's no time for things to get confusing for you. Just hand it over to me and continue on with your life!
Ready to save money? Schedule a discovery call and we can get started!
So you're thinking of hiring a bookkeeper –– I think that's a great idea! Here are a few things you need to have in place before you hire:
The first thing you'll want to do is setup business bank, credit card, and/or PayPal accounts. It is not a good idea to run your business through your personal accounts. Not only does it make tax time a mess, but it will make your bookkeeping a nightmare!! So if you're looking to hire a bookkeeper in the near future be sure you have your business accounts setup first.
The second thing I recommend doing before hiring a bookkeeper is to follow bookkeepers on Instagram. No, not just me (though I would be honored if I'm one of them––find me here)! Go follow two or three. You need to see who you connect with, the type of clients they specialize in, and who you love learning from. You'll get a good feel for what you're looking for and when you're ready to hire you'll have your favorite picked out!
The last thing to do before hiring is prepare your budget! A good bookkeeper will cost the typical business $200-$300 per month. A word of wisdom: hire a bookkeeper that charges a flat fee. You don't need the stress of wondering how much your bookkeeper is going to charge each month.
Also, don't base your choice only on cost. Cheapest isn't always the best. Look at the packages the various bookkeepers offer and choose the one that meets your needs.
Any other questions about what to do before hiring a bookkeeper?
Over 3 years in business I've learned a lot the hard way... You know the feeling I'm sure! Today I'm sharing my top business tips to save you a headache or two:
Small expenses add up quickly.
Benjamin Franklin said, “Beware of little expenses; a small leak will sink a great ship.” Are you aware of the little expenses in your business? Or do you wonder what happens to your income each month? Don’t dismiss even the smallest expenses because they all add up!
Clear the clutter.
Keep your workspace clean so you can focus on your projects without distraction. It is harder to focus with piles of paperwork and other messes on your desk.
Keep a planner and write everything down.
If you are a business owner, having a planner (digital or paper) is a lifesaver. It keeps you organized, on schedule, and sane. Often, stress comes not from having too much to do, but from worrying about forgetting something. Writing everything down frees your brain up to do what's important.
Remember that everyone struggles.
You are not alone. It is easy to think that everyone around us has success and we are the only one struggling with failure and doubts. But the reality is that behind each successful business is a lot of dedication, hard work, failure, disappointment, and (most importantly) persistence. So if you've fallen down the rabbit hole of looking at everyone else's success and comparing it to your failures and disappointments, stop. Get up. Dust yourself off. And remember that the highlight reel is all you’re seeing...
Don’t get caught up in busywork.
Do you ever get caught up doing things that aren't really moving your business forward? Me too. Make sure every task counts. Don't do things just because other people do them. Instead, focus on the work that will actually move your business in the direction of your goals.
Build a community.
Genuine community is essential for our businesses to thrive. You cannot hide behind your Instagram account hoping people will notice and buy your product or service. You need to build a community: genuinely comment on people's posts, DM people you want to get to know better, and reach out to set up virtual meetups. Remember that you are not reaching out to people with the goal of them becoming a client. Your goal is to build a supporting community.
In my life I've been trying to be more intentional about the things I keep around. You know those clothes in the back of the closet you haven't worn for a year? I've been learning to let those kind of things go. In my business, I've simplified my discovery call booking process by using Acuity. It holds all my appointment openings so people can schedule at their own convenience! (btw, if you want to simplify your bookkeeping process, schedule a free discovery call using my Acuity link!).
Does your desk ever get messy? Mine does quite often. One thing I've used to help cut the clutter is file boxes to keep near my desk. In them are pretty file folders to hold different categories of paperwork. I have one for each client, several for my personal business, and some for courses I am taking. I always have one folder in the front labeled "in progress." That way if I haven't finished a client's project by the end of the day I can clean off my desk and put the client's folder in there for easy access the next day.
Do the Thing you dread doing (or delegate it).
You know those things you dread doing and put off for months? Maybe it's cleaning out your desk drawer or filing your taxes or doing last month's (year’s!) bookkeeping. This week take the first step to accomplish it. You can also choose to delegate the task so you don't even have to worry about it anymore. Schedule a free discovery call today if you want to delegate your bookkeeping.