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Outsourcing

How to Make Your Receivables Process Insanely Easy

By | Accounting 101, Bookkeeping 101, Outsourcing | No Comments

Today it is my great pleasure to introduce to you a tool that automates your receivables process by adding a magical collections team member. This new team member is called  InvoiceSherpa, and here are a few of the items I appreciate with this great bookkeeping add-on. Custom Templates, Scripting, & Reminder Schedule It doesn’t matter if you’re a little snarky or an uber professional, you choose the script- so you can be you, even in your collections. Not to mention that if you want to send reminders the day after invoices are due, or five days before they are due, you get…

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Naked Look at the Budgeting Mistake I’m Embarrassed To Share

By | Accounting 101, Bookkeeping 101, Business 101, CEO Mindset, Outsourcing, Team Building | No Comments

There are some lessons you learn that you can’t wait to share with anyone that will listen. Then there are lessons that open up your possibilities and are slightly, well embarrassing. Embarrassing for yourself mostly because it was right there and you didn’t see it – even if it is part of your education and knowledge background. Sometimes those lessons hurt. This is one of those lessons. Problem Identified: My Plan didn’t support both me AND a larger team. When creating a budget for start-up or a plan for growth, it is important to have a clear understanding of the…

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5 Useful Ways to Avoid Drowning in the Bookkeeping

By | Accounting 101, Bookkeeping 101, Business 101, CEO Mindset, Outsourcing, Recordkeeping 101 | No Comments

This episode of Ask Connie is a question that comes up often when I talk to business owners: I need advice on implementing my bookkeeping and recordkeeping. How do I manage to really sit down and update records; close out the month; really make my accounting tool work for me; etc. I need ideas on how to make this process smoother, less painful, and get it done without tearing my hair out. This is probably the most common question, because the acts of bookkeeping – data entry and record keeping – are not super fun for most of us. The truth…

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Business 101: Calculating Business Cash Needs

By | Accounting 101, Bookkeeping 101, Business 101, Cash Flow, CEO Mindset, Outsourcing, Profit First | No Comments

  A conversation with a prospective client this week brought up an old topic: running a business based on bank-balance-accounting (you can read more on that topic here). The business owner was a start-up and their prior accountant did set-up QBO for tracking. The accountant stopped as of 12/31, and didn’t provide any training or support. Since the business owner didn’t have the skill set to update their accounting tool, he was left running his business simply based on what his bank balance was, which was the reason for the call: he needed his accounting brought current so he had…

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Finding Qualified Bookkeepers

Business 101: Finding Qualified Bookkeepers

By | Bookkeeping 101, Business 101, CEO Mindset, Outsourcing, Team Building | No Comments

What constitutes a qualified bookkeeper? Is it their experience, technical savvy, processes, or maybe their mission and values? Perhaps, it is as simple as what they charge (HINT: this is NOT how you choose a provider). I often talk and work with business owners on this very subject. How do they know, trust, or even, where to start to look for a qualified bookkeeper? How do they identify individuals that “know their stuff” or find a trusted partner in handling their business finances? This is a big leap of faith, often requiring an immediate trust factor. We have blogged about…

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Business 101: Outsourcing and Change

By | Business 101, CEO Mindset, Outsourcing, Team Building | No Comments

One reason outsourcing can be a difficult choice for business owners is the idea of change. Outsourcing can mean change in tools, team members, or processes; this much change can set some people on tilt when they are suggested, or sometimes even forced upon them (gotta love ever-changing accounting software). Often business owners are so focused on running their business that change can be an inconvenience rather than a solution. So the WHY behind the change needs to be painful enough to motivate the investment of resources in creating the change. Ask yourself, if the change will provide you with……

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Bookkeeping, Manage the Cycle

By | Bookkeeping 101, Business 101, Cash Flow, CEO Mindset, Outsourcing, Recordkeeping 101 | No Comments

Today’s post will explore the business accounting cycle. Are you missing a step in a successful cycle for your business? Step 1: Identify, Collect, Analyze This step is all about the in and out of cash flow in your business. Take the time to identify what items need to be tracked. Easiest way to do this is by separating personal from business. Set-up separate bank accounts and dedicate one credit card for business. Consider how you will capture and collect that info. We have written many articles about keeping receipts and going paperless. Success in deciding which to choose is…

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Bookkeeping Overcomplicated? 5 Things to Review

By | Bookkeeping 101, Business 101, CEO Mindset, Outsourcing | No Comments

Whatever your chosen profession – attorney, doctor, or service provider – you chose it based on your strengths, which I am going to guess, did not include a love of numbers. Nor did a beautiful illustrated finance how-to manual come from the IRS after filing for your federal ID number (wouldn’t that be something?). Since 2001, I have worked with many business owners where the majority of them had overcomplicated their bookkeeping processes, all at similar pain points. They were at the point of taking no action, even avoidance of filing necessary tax returns. Here are the stuck points business…

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Outsourcing: The 411 On Your Financial Team Options

By | Accounting 101, Bookkeeping 101, CEO Mindset, Outsourcing, Team Building | No Comments

As we wade through our own corner of tax season weeds, we’ve consciously taken a break this week so that we might spend more time consulting with our clients and working through the last bits of tax work. Since we see a lot of business owners starting to look at outsourcing their financials at this time of year, we thought this a perfect week to revisit one of our older articles on the “who” you need when beginning to look at outsourcing. We understand, first hand, that managing the business, the business financials, and growing the business are not mutually…

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Business 101: 5 Signs You Need a New Bookkeeper

By | Bookkeeping 101, Business 101, Outsourcing, Recordkeeping 101 | 2 Comments

Trust is key when outsourcing your bookkeeping. With stories of theft and fraud, it can be a little stressful to know who to trust, especially working in a remote environment. Below are five warning signs that may signal a problem with the relationship you have created.  Be empowered and address them head on. Warning Sign 1: No Access to your Accounting System Recently we spoke with a business owner whose tax professional moved the clients accounting data to their internal server and the business owner had been asking for access for more than two months.  Or the business owner who…

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