On a rock floating in space
Joined May 2009
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Don’t forget that PayPal, Venmo are like bank accounts.
Make sure those transactions are recorded.
#bookkeeping
If you focus on increasing Sales/Income the rest will fall into place.
As biz owners we know this logically, but somehow don’t lean into it as hard as we should.
Starting a business?
Deciding between a CPA and a bookkeeper depends on your needs:
taxes (CPA) v daily finances (bookkeeper).
#bookkeeping
New Biz Owner: Sh*t, my CPA needs info for my taxes.
New Biz Owner: Shi*t again, now I have to go through my all of my bank and credit card statements to figure out what is personal and business.
Me: You could have just set up a separate bank and credit card account to make this easier.
New Biz Owner: 💡
#Bookkeeping
To make your accounting easier, have a business bank/credit card separate from your personal.
Come year end you won’t be wasting time going through statements figuring out which is business and which is personal.
#Bookkeeping
Don’t forget that PayPal and Venmo are like a bank account, make sure those transactions are recorded.
#Bookkeeping
Don’t forget that PayPal and Venmo are like a bank accounts, make sure those transactions are recorded.
#Bookkeeping
Non-crypto investors suddenly buying exotic tokens?
Might be nothing.
Or it might be the start of the exponential banana zone. 🍌
@JamesEastonUK @RealVision
Well that didn’t take long. @FortWayneCPA now is your chance to fix. stocks.apple.com/A-EHczAkAQf…
If we focus on increasing Sales/Income the rest will fall into place.
As biz owners we know this logically, but somehow don’t lean into it as hard as we should.
How much runway do you have?
That’s another way of saying what is your cashflow?
We have to keep in mind…have more money coming in than going out.
It’s easy to say, but can be a challenge to do. I have to remind myself and anyone else on this journey to lean into sales and marketing.
I do small business bookkeeping since 2004. I take away drama for service based businesses.
If you’re crying in the fetal position over your accounting,
I set up your system, workflow, reports and talk to you in English so you understand your business books.
It doesn't break the bank either.
For more info check out my website:
yourbackoffice.ca
Positive cash flow keeps your business alive.
Have more income than expenses.
A simple message we tend to forget.
Positive cashflow is the driving energy of any business.
Make more than you spend.
We get distracted from this because selling is hard work.
Positive cash flow means more money comes in than goes out.
1. You can get there by more sales (Yay!!)
2. More loans/equity (meh)
3. Lower your expenses.
Most biz owners start with step 3 (easiest to implement), then go to step 2
If you focus on increasing step 1 the rest will fall into place.
If you focus on increasing Sales/Income the rest will fall into place.
As biz owners we know this logically, but somehow don’t lean into it as hard as we should.
Positive cash flow keeps your business alive.
Have more income than expenses.
A simple message that gets forgotten.