WHY BOOKKEEPING MATTERS WITH KRISTINE MIGUEL
How does spending the weekend organizing your books sound…boring, right?! What if I told you that accurate and up-to-date bookkeeping is as critical to your business as your kick-ass marketing strategy? Bookkeeping can be daunting but I’m going to break it down for with a quick Bookkeeping 101 course:
WHAT: Bookkeeping is the process of recording and organizing financial data within your business (a.k.a. Show me where the money went?)
WHEN: Regularly. Depending on how many transactions you have, you can do bookkeeping either monthly or daily. My suggestion is to do it weekly, at the minimum. Otherwise, transactions accumulate, overwhelm creeps in and then we give up.
HOW: Cloud-based accounting software and receipt-capturing apps. There are tons of free and paid options out there. I mean, there’s nothing wrong with good old Excel but trust me, these apps are so smart and user-friendly, you’ll wish you’d hop on the tech sooner! For most of these apps, all you need to get started is access to your bank account and your phone (to take pictures of receipts). More on these apps on a future blog post.
WHO: You. Don’t tell your bookkeeper/accountant I said this, but with the help of technology, a simple process and a lot of discipline, you totally got this. While hiring a bookkeeper has a time and a place, it’s helpful to learn how this process works… just like how you learned about sales, operations, and marketing when you first got started.
WHY: Regardless of who does your bookkeeping and how the goal here is to finally have the best information to make smarter business decisions! No more birdbox’n it like Sandra B, if ya know what I mean!
There you have it. Easy enough right?! Right. If you’d like to learn more about how cloud-based technology can help you manage financial data, stay on top of bookkeeping and make tax season a breeze, join me on October 19th for my Bookkeeping Bootcamp workshop in Calgary. This workshop is designed to help you actually do the work. It’s perfect for DIY entrepreneurs, side-hustlers and small biz owners who want to get their finances organized once and for all.
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