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tools Archives - The Accounting Department Inc

Three Ways to Create Abundance for Your Business

By | AskConnie, Cash Flow, CEO Mindset | No Comments

I wanted to share a secret with you. There was a time where I didn’t think about abundance in my business, either through creating profit or creating a plan. I know, that’s shocking and so embarrassingly true. During the growth stage of my business, if I did think of my business finances, it was after running around with my head cut-off and usually somewhere around 2am. Seriously, during that stage the only thoughts I had around cash or abundance or profit was lack. I now call that “Living in the Land of Lack”, where everything is lacking just a bit…

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The Paper Chase

Floundering in Paper? Reasons this Happens & Survival Tips

By | Business 101, Recordkeeping 101 | No Comments

Going completely paperless for a business can be a little mind blowing and incredibly empowering at the same time – I know because I’ve been on that brain twisted journey for two years now. As of the first of June, our business is 95% paperless thanks to moving our office from commercial space with tons of extra space for storage to a much smaller office with a completely virtual team. There are a few things that I choose to move with the intention of deciding what to do with them after the move (I am publicly announcing that these items…

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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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How to Think About Payments That Will Help You Be Profitable

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

While the king of payment has changed from paper to plastic, not having multiple options of receiving payment can be a certain death for businesses. I’ve seen new businesses open their arms wide for multiple payment options, and I’ve seen older businesses go kicking and screaming into this new world. If you want to survive and be a healthy and profitable business, you need to be aware of the tools available and develop your preferred payment processing plan. So let’s talk payment options. Death of the Checkbooks – (almost) We as a society haven’t totally killed off checks as a…

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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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Profit First!

Successful Beginners Guide for the Profit First System

By | Bookkeeping 101, Cash Flow, Profit First | No Comments

So by now, if you’re reading with us regularly, you have heard of the book Profit First by Mike Michalowicz. Maybe you even cracked the spine and gave it a quick read. If you resonated with it, but found your Negative Nelly mindset kick in, you may not have taken any forward movement on implementing the new system. Today I am going to share the five basic steps of Profit First. This is the same basic info I presented in my very first webinar, in fact, it is the same exact system I used more than a year ago. Look: just…

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Tool Recommendation: Xero – is it right for you?

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

In today’s Vlog Connie gives you a quick look into Xero. We review the things we look at with our clients when deciding what tool is right for them and some of the reasons we like Xero. Video Summary When we talk to clients about choosing an accounting tool there are a few items we want them to consider: The look and feel of the tool – People have an immediate like or dislike when they access their tool; not despising it the minute you access it is important to your success in using the tool. Also, it’s important to…

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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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Accounting Tools: A Look Inside QBO (QuickBooks Online)

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

Unable to display content. Adobe Flash is required. Today’s Vlog gives you a quick look into QuickBooks Online (QBO). Connie discusses a few of the things we look at with our clients when deciding what tool is right for them and some of the reasons we like QBO. Video Summary When we talk to clients about choosing an accounting tool there are a few items we want them to consider: The look and feel of the tool – People have an immediate like or dislike when they access their tool; not despising it the minute you access it is important…

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