148: Finding Time To Do Your Bookkeeping Whether You Are Starting A Business Or Side Hustle
148: Finding Time To Do Your Bookkeeping Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Virtual Assistant, Business Owner, Or Self-Employed
Business owners often struggle to find the time to do the bookkeeping for their business. This is a topic that I see come up often with many of the business owners I work with. I understand how much this can cause issues in your business, especially when you know how important it is to have your bookkeeping up to date and review the data it shows about your business so that you know exactly how your business is doing. Managing finances is often the last thing business owners want to do unless, of course, you are a bookkeeper or accountant yourself. In today’s podcast episode, I am diving into practical tips and strategies that will help you not only have you up to date with all your bookkeeping tasks but it will free up more time for your business as well. Whether you are starting a business or side hustle, you’re a self-employed individual, a solopreneur, entrepreneur, mompreneur, freelancer, small business owner, a remote, virtual, online, or in-house bookkeeper, or a virtual assistant or VA; bookkeeping is one of those things in your business that you need to take seriously so that you can not only have this accurate information to do your taxes, but you’ll be able to utilize the information you see in your business to make smart business decisions…
Find out how you can work with me by either scheduling a free consultation or signing up for the BALANCE Life Coaching program, where you can get private one-on-one coaching every week. Find out where you’d like to see yourself and your business in the future. We’ll create a laser-focused plan, including which action steps you need to take to get started on the path to success:
Accountants, CPAs, Bookkeepers, Tax Preparers & Financial Professionals, sign up here to get updates on upcoming opportunities & grab the Audit Of Your Well-Being & Balance Guide here:
Ready to set up your business? I have a program I’m creating to help you get your business set up so that you can start making money. Sign up for this program here:
Are you ready to try coaching? Schedule an Introductory Coaching Session today. You’ll have the opportunity to dip your toes in and see how you like coaching with an Introductory Coaching Session. I’ll spend the whole time coaching you on anything you’d like coaching on in your business or your personal life:
Join us in the Mastering Your Small Business Finances PROFIT LAB if you are ready to take control of your business finances and create the profitable business you are striving for. Are you ready to generate revenues and increase the profit in your business:
If You Are Ready To Choose, Start Or Grow Your Side Hustle, Get Your Free Checklist And Assessment Here:
Grab Your FREE guide: 5 Essential Strategies For Stress-Free Bookkeeping:
Your FREE Online Virtual Bookkeeping Business Starter Guide & Success Path Is Waiting For You:
Join Our Facebook Community: https://www.facebook.com/groups/womenbusinessownersultimatediybookkeepingboutique
The Strategic Bookkeeping Academy, including Bookkeeping Basics, is open for registration! You can learn more and sign up here:
Looking for a payroll solution for your business? You can get an exclusive 15% discount on your payroll services when you sign up here:
QuickBooks Online - Save 30% Your First 6 Months:
Sign up for a virtual coffee chat to see if starting a Bookkeeping Business is right for you:
Show Notes:
Business owners often struggle to find the time to do the bookkeeping for their business. This is a topic that I see come up often with many of the business owners I work with. I understand how much this can cause issues in your business, especially when you know how important it is to have your bookkeeping up to date and review the data it shows about your business so that you know exactly how your business is doing. Managing finances is often the last thing business owners want to do unless, of course, you are a bookkeeper or accountant yourself. In today’s podcast episode, I am diving into practical tips and strategies that will help you not only have you up to date with all your bookkeeping tasks but it will free up more time for your business as well. Whether you are starting a business or side hustle, you’re a self-employed individual, a solopreneur, entrepreneur, mompreneur, freelancer, small business owner, a remote, virtual, online, or in-house bookkeeper, or a virtual assistant or VA; bookkeeping is one of those things in your business that you need to take seriously so that you can not only have this accurate information to do your taxes, but you’ll be able to utilize the information you see in your business to make smart business decisions…
Welcome Back…Do you think about doing the bookkeeping for your business as a daunting task? I get it, and I see this same thought with many of the business owners that I work with. It’s pretty normal for a business owner to think this, especially when you are running a business that specializes in something you are passionate about, but that passion doesn’t extend to doing the books or managing the finances. But I know you understand how important your business finances are to your business, right? Understanding your business finances is crucial for making smart business decisions as well as growing your business and achieving your goals. When you are ready to find the time to focus on your bookkeeping, the first thing I want you to do is to make sure you are prioritizing your bookkeeping just like you would do with any other essential task in your business. You need to allocate time that you will dedicate to focusing on strictly doing your bookkeeping. This may be daily, weekly, or even monthly. By having a consistent schedule in place, it will help prevent your bookkeeping from piling up and becoming an overwhelming chore. I hear so often about how business owners have to spend their weekends catching up on their bookkeeping. Be sure to schedule this time in your calendar and honor the amount of time you have set for your bookkeeping…even if you don’t feel like doing it. Let the time you set hold you accountable to get it done. I always tell my clients that the best way to have motivation for getting something done is not to wait for the motivation. You just need to get started on it, and as you work through the task you are focusing on, you’ll get that sense of motivation because you are actually getting things done.
I know your time is precious as a business owner. You have a lot on your plate, so consider leveraging technology to streamline your bookkeeping process. There are numerous accounting software options available to help you stay up-to-date with your bookkeeping. I highly recommend using either QuickBooks Desktop or QuickBooks Online. If you are interested in learning more about either of these options and saving 30% on your first 6 months, you can go to www.FinancialAdventure.com/resources. When you use a computerized software solution for your bookkeeping, you can automate your data entry, simplify your invoicing, track expenses and integrate your bank accounts to take advantage of allowing bank feeds to automatically import your entries. Many of these software options have a fee, but I want you to take into consideration the amount of time you will save by having a solution that can help you streamline your bookkeeping. Not to mention how easy it is to generate reports on your financial data after you’ve recorded your transactions. I also love the option you have when you are working with QuickBooks Online to add your accountant or tax preparer to your data file so that they can get all the information they need to prepare your tax return without you having to print out reports or do a back up to get your data to them. This alone saves business owners time and is something that is often put off as a low-priority task.
Organization is the next thing I want you to think about when you are trying to find time to do the bookkeeping for your business. Try to keep your financial documents and receipts well-organized from the start. By creating a system, either electronically or in paper form, for your income, expenses, and tax-related documents, you’ll save time by not having to hunt down misplaced paperwork. Having a system in place to keep everything will also reduce any overwhelm you may be feeling when you have piles and piles of paperwork on your desk and you are unsure where to put them. You also have the opportunity if you are using QuickBooks Desktop or QuickBooks Online to upload documents so that you can find them easily with the transactions you are recording.
I want to touch on multitasking for a bit here as well when we are talking about finding time to do your bookkeeping. You might be thinking you can get more done when you multitask, but in reality, you are more than likely taking twice as long to get each task done. When you juggle numerous responsibilities and try to do everything at once, it can lead to inefficiency and errors. If you can instead focus on a single task when doing your bookkeeping and dedicate a distraction-free environment, you’ll find yourself completing the task more efficiently and accurately. If you don’t believe me, just try to stop multitasking for a week or two and see if your efficiency improves. This can be fun to see in not only the bookkeeping area of your business, but try it out in other areas of your business as well, and let me know how it goes. I always love hearing from you.
Bookkeeping is something that you’ll need to continue doing throughout your business, but that doesn’t necessarily mean that you personally have to do the bookkeeping for your business. You will need to assess when you might need to seek help with your bookkeeping. When you do your own bookkeeping, it can help save you money, but there may come a point in time when it makes sense to delegate this responsibility. By hiring a bookkeeper or accountant, they can provide expert insights, ensure compliance, and give you more time to focus on growing your business. Your bookkeeper or accountant should also be a resource for you to continuously learn about your business. As your business grows, you’ll want to stay informed about changes in tax laws, accounting practices, and industry-specific financial considerations. You’ll want to make sure that you understand what your financial statements are telling you about your business as well as what you can do to achieve the goals you are setting for your business.
Bookkeeping is an important aspect of running a successful business and deserves your attention. By incorporating these strategies into your routine, you’ll find that balancing your books becomes a manageable task that, once you prioritize, you will find the time to accomplish. Enjoy the journey your business is taking and utilize your financial statements as a compass that guides you to reach success in your business. I work with business owners and accountants to create the actionable steps they need to take to ultimately achieve their goals while getting relief from the stress and overwhelm they feel from the pressure of owning a business, deadlines, and the workload they face every day. If you are struggling with this as well and would like some help developing a solution, help strengthen and maintain your emotional health, increase your well-being, create a more positive, happy, and joyful life, set and achieve your goals, and manage your relationships, I’d love for you to join me in my Balance Life Coaching program so that you can live a more purposeful life. Each week we meet privately, one-on-one, and you get to bring whatever is on your mind on any given week. It could be your highest priority you want to work on, whatever you want more of in your life, or if there is something that is weighing on you heavily that you need coaching on, and we’ll work through it together. Having a certified life coach like me helping you through all of this allows you to feel so seen and cared for, and the results are amazing. Everyone benefits when they work with a certified life coach. After every call, you feel energized, and you know exactly what to do for the week to come, and relief knowing we will meet again the next week to go over anything that comes up after the call. You’ll gain self-awareness while you take each step toward your goals. This is a new coaching program, and I am opening it with special pricing for a limited time. The investment is an easy yes for you. I’ve set this program up in the most supportive way for you. If you are ready to join the Balance Life Coaching program, you can go to www.FinancialAdventure.com and click on the work with me button. You’ll see the link to join as well as additional information about the program. Sign up now. There are limited spots available for this program due to the one-on-one aspect, and it will sell out. If the payment link is gone, you can get on my waitlist to join the program when additional spots are available. I help people get results and live a more joyful life. I coach everybody on everything. Everyone has something they want in their lives, and I help them get it. I know this is something you’ve been waiting for. I’ve been asked by many of my listeners to create this exact program, I made the final touches on the program, and it is now available for you. I know how much you wanted it. The faster you get access to the program, the quicker you’ll see the possibilities available to you. I also have a risk-free guarantee. I believe so strongly that everyone benefits from coaching that when you sign up today, if for any reason you are not satisfied with your first session, you can send us an email, and we’ll refund you immediately. Are you ready to enjoy your life now? Why would you want to wait? Make this investment for yourself. Take the journey with me…make it happen for yourself. Ask yourself why you need this program in your life right now. Are you ready to make bigger, bolder, stronger life goals? I’m looking forward to meeting with you soon and digging deeper to see where you currently are in your business or career and start creating actionable steps so that you can reach your vision and goals for the future, not only in your business or career but also in your personal life. I’m ready to work with you, see all of your successes, and watch you thrive in your business or career while creating your best work-life balance. I’ll post links to this and other valuable resources for business owners and accountants where you are listening to this podcast.
And, you know I’m going to ask…what’s at least one thing you will take away from this episode that will help your business succeed and grow your bottom line? If you need some accountability, join our PRIVATE Facebook community and post your action item, we’d love to support you.
Comentarios