Alliance Bookkeeping Solutions, LLC

06/15/2022

Nothing’s more irritating than that never-ending stream of Facebook ads for crash diet plans and products, right? 🤮

Especially right after New Year’s … or right before summer vacation:

👙 “𝘓𝘰𝘴𝘦 20 𝘱𝘰𝘶𝘯𝘥𝘴 𝘪𝘯 2 𝘸𝘦𝘦𝘬𝘴!”

👙 “𝘔𝘪𝘳𝘢𝘤𝘭𝘦 𝘥𝘳𝘶𝘨 𝘮𝘦𝘭𝘵𝘴 𝘧𝘢𝘵 – 𝘸𝘩𝘪𝘭𝘦 𝘺𝘰𝘶 𝘬𝘦𝘦𝘱 𝘦𝘢𝘵𝘪𝘯𝘨 𝘢𝘭𝘭 𝘵𝘩𝘦 𝘧𝘰𝘰𝘥𝘴 𝘺𝘰𝘶 𝘭𝘰𝘷𝘦!”

👙 “𝘎𝘦𝘵 𝘣𝘦𝘢𝘤𝘩-𝘣𝘰𝘥𝘺 𝘳𝘦𝘢𝘥𝘺 𝘣𝘦𝘧𝘰𝘳𝘦 𝘣𝘦𝘢𝘤𝘩 𝘴𝘦𝘢𝘴𝘰𝘯 𝘯𝘦𝘹𝘵 𝘮𝘰𝘯𝘵𝘩!”

But when I was looking at those awful ads … I realized that’s exactly what businesses do with their finances every year 🙈

They procrastinate on managing their finances in a healthy way – then end up trying to “crash diet” just before tax time.

But instead of fighting against pounds – you’re fighting against hours:

⏰ Research shows that the average small business spends 15 hours a week on financial admin tasks (like bookkeeping)

⏰ That's 60 hours (!) every month

⏰ And 720 hours (!!) every year

⏰ 𝗙𝗼𝗿 𝗮 𝗴𝗿𝗮𝗻𝗱 𝘁𝗼𝘁𝗮𝗹 𝗼𝗳 𝟯𝟬 𝘄𝗵𝗼𝗹𝗲 𝗗𝗔𝗬𝗦

😳 😳 😳

Can you *really* take off the whole month of March to “crash diet” your finances before the tax deadline?

BUT - ! If you (or your bookkeeper 😉) keep up with healthy monthly bookkeeping habits, tax time be less stressful – and you’ll enjoy perks all year, like:

🥗 Jumping on new business opportunities faster

🥗 Stop paying unnecessary late fees

🥗 Creating more profitable business strategies from actual data

Just like healthy 𝘄𝗲𝗶𝗴𝗵𝘁 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 leads to daily lifestyle perks like better sleep, more energy, and a clearer head 🧘🏻‍♀️

It’s the same with your 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 💰

So if you’re sick of crash-dieting your finances in a panic at tax time

(And want a piece of those sweet benefits that come with healthy monthly bookkeeping)

Then just reach out ❤️

I help each of my clients enjoy easy and healthy financial management all year round - and I’d love to help you do the same!

[email protected]
859-363-5457

06/14/2022

Business bank accounts are NOT like scarves 🧣

There is no “one size fits all” bank or bank account - because every business has different financial needs:

💰 Business A may have a LOT of daily transactions in cash

💰 While Business B only works with international clients

And the right bank account for Business A may be the exact WRONG account for Business B

It’s all about finding the bank that’s right for YOU.

So, if you’re looking to open a business bank account, here's some helpful questions to ask 👇

𝗔𝘀𝗸 𝗧𝗵𝗲𝘀𝗲 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀 𝗕𝗲𝗳𝗼𝗿𝗲 𝗣𝗶𝗰𝗸𝗶𝗻𝗴 𝗔 𝗕𝗮𝗻𝗸

💰 LIMITS: Are there account activity limits? (Transactions, etc.)

💰 FEES: Do you charge a fee for “account management” or ATM withdrawals?

💰 MINIMUMS: Do you charge minimum balance fees?

💰 INTERNATIONAL: What is the fee for wire transfers?

💰 ACCESSIBILITY: Is your website easy to use?

But again – it’s not just about the bank. You need to know what your business needs, too. 👇

𝗛𝗼𝘄 𝗗𝗼𝗲𝘀 𝗠𝗼𝗻𝗲𝘆 𝗠𝗼𝘃𝗲 𝗜𝗻 𝗬𝗼𝘂𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀?

💰 How many monthly transactions do you have?

💰 How do your clients pay you?

💰 Where are your clients located? (Local? International?)

💰 How many accounts do you need? (Checking, savings, etc.)

Or, when in doubt:

𝗝𝘂𝘀𝘁 𝗮𝘀𝗸 𝘆𝗼𝘂𝗿 𝗲𝗻𝘁𝗿𝗲𝗽𝗿𝗲𝗻𝗲𝘂𝗿 𝗳𝗿𝗶𝗲𝗻𝗱𝘀 𝘄𝗵𝗮𝘁 𝘁𝗵𝗲𝘆 𝘂𝘀𝗲 😉

(Or read the helpful Forbes link in the comments below 👇)

Hopefully that’ll help you pick the bank that’s the best fit for your business!

And if you read the lists and simply feel overwhelmed – then just reach out ❤️

I’ve got a lot of experience working with entrepreneurs AND all of their different banks and accounts, so I can definitely give you some tips on which banks are easy to work with (and which are NOT)

I’d love to help you figure out which bank is good fit for you and your business!

[email protected]
859-363-5457

11/18/2021

“It’s FINE,” you tell yourself. “Really, I’ve got PLENTY of time to catch up my business finances and bookkeeping before taxes in April. I’m FINE … right??”

If you have to ask … it’s probably worth double-checking 🧐

Here’s some ways that I’ve heard people say they are “fine” … when they probably aren’t:

🤷🏻‍♀️ “I’m FINE – 2022 is still 6 weeks away! I’ve got plenty of time to catch up.”

👉 (But is that really “plenty of time”? When you take out holidays and weekends, that’s only 43 days workdays left in the year where you’re still trying to, well, work!)

🤷🏻‍♀️ “I’m FINE – taxes aren’t due until April 18th, I’ve got loads of time!”

👉 (But did you know there are other important IRS deadlines between now and April, like the 1099-NEC form for your contractors that’s due on January 31?)

🤷🏻‍♀️ “I’m FINE – I’m sure I can just power through it in a weekend, or ask my accountant to handle it last-minute if I run out of time, right?”

👉 (Well, MAYBE you can punt it to your accountant for a PREMIUM at the last minute, as long as you have ALL of your paperwork. But what if you have W-9 forms you still need to chase down? Or you need to send out email requests for current employee information for your W-2 forms?)

Not only that, but 𝘵𝘩𝘦 𝘤𝘰𝘯𝘴𝘦𝘲𝘶𝘦𝘯𝘤𝘦𝘴 𝘰𝘧 𝘰𝘶𝘵𝘥𝘢𝘵𝘦𝘥 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘮𝘢𝘯𝘢𝘨𝘦𝘮𝘦𝘯𝘵 𝘢𝘳𝘦𝘯’𝘵 𝘫𝘶𝘴𝘵 𝘭𝘪𝘮𝘪𝘵𝘦𝘥 𝘵𝘰 𝘵𝘢𝘹 𝘵𝘪𝘮𝘦.

If your bookkeeping is out of date:

❌ You won’t be able to secure a needed business loan

❌ You’ll overspend on overdraft fees and late bill payment fees

❌ And you’ll probably forget about – and ultimately lose the money from – unpaid invoices and late-paying clients

Here’s my point:

Even though the tax deadline isn’t until April

Please don’t procrastinate and just assume that your finances are “probably fine”

Because you could end up over-paying, over-stressing, and over-working if it isn’t 😰

So if you’re unsure – just reach out.

Seriously, just take 30 seconds to schedule a call with me today (it’s free ❤️ ) just so we can double-check.

Let’s see where you’re at, what you may need to do, and make sure that you’re ACTUALLY fine ❤️

After all, I help make sure my clients are more than “fine” every single day – and I want to make sure that you’re more than fine, too.

[email protected]
859-363-5457

11/17/2021

Have you ever returned an item, got a refund on your business credit card …

… and then had ZERO idea how to handle that refund in your financial software??

(“Is it income? Because Quickbooks is calling it ‘Uncategorized Income’. Is that right? Maybe I should just delete the original payment? But then wouldn’t that change the balance and screw everything up … ???”)

😵😵😵

Don’t worry – it’s actually not that hard to handle 😉

Here’s an example on how to easily handle a refund in Quickbooks Online:

Let’s say that at the end of July, you bought a box of printer paper from Amazon for $39.99.

After the shipment arrives, you realize it’s the wrong size, so a week later (at the beginning of August) you return it – and Amazon refunds that $39.99 directly to your business account.

So now you’ve got two line items in your finances:

⬇️ $39.99 paid to Amazon in July

⬆️ And $39.99 received from Amazon in August

Now what?

Just follow these 3 easy steps:

(𝟭) Locate the $39.99 𝙧𝙚𝙛𝙪𝙣𝙙 in August – Quickbooks will probably try to label it as “uncategorized income”, which is NOT correct and will need to be changed

(𝟮) Now locate the $39.99 𝙥𝙖𝙮𝙢𝙚𝙣𝙩 in July (You can do this by looking up the reconciled statement from July, or by checking “Amazon” in the vendors list under “expenses”). How was the July payment categorized? Probably “Office Expense”, right?

(𝟯) Now go back to the $39.99 𝙧𝙚𝙛𝙪𝙣𝙙 in August and change the category to “Office Expense” (to match the category of the 𝙥𝙖𝙮𝙢𝙚𝙣𝙩 in July) then click “Add”

That’s it! Easy as 🥧

❌ No messy deletions
❌ No inaccurate labels of “income” throwing off your reports
✅ Just an easy and accurate tracking of how your money moved

(Btw, if you want a quick walk-through of it in Quickbooks, I attached a super helpful YouTube video below 👇)

https://www.youtube.com/watch?v=Hv7UUh315mA

Or maybe you’re sick of trying to remember (and deal with) all these tedious tiny details in your bookkeeping 🤮

If that sounds like you – just reach out ❤️ I handle these pesky little details for my clients all the time, and I’d love to help you, too!

[email protected]
859-363-5457

11/11/2021

What are your financial goals for your business for the next 6 months?

No, seriously – tell me! 😍 I love to hear about the big + beautiful goals of my entrepreneur friends!

💰 Do you have a specific goal for a new (and bigger!) monthly or annual revenue that you want to hit in 2022, like $10k months or a $100k year?

🏬 Do you want to make enough - or get enough financing - to expand your business to a second location or hire more employees?

⏰ Or maybe - after a WHOLE LOT of hustle and hard work just to get your business off the ground – you just want to get your business to a place of reliable steady revenue with fewer hours?

I LOVE hearing about goals like these – mostly, because these are the goals and dreams I help my clients achieve on a daily basis!

… What? You didn’t know that a good bookkeeper 🤓 could help you with goals like these?

Here – I’ll show you how:

🤓 Looking to hit a big new revenue goal?

Not only can I keep your bookkeeping data up to date, I can help you analyze it and show you where to cut expenses and where the majority of your profit is coming from (so you can cut the dead weight – and focus on your money-makers!)

🤓 Want to secure the financing you need to grow?

Before a bank will even consider giving you the money, you’ll need to have clean and up-to-date financial records for your business. I can help with that!

🤓 Trying to create an easier schedule with steady revenue?

Delegating is a great place to start! Not only will you not have to do the bookkeeping any more, but I can probably do it twice as well in half the time 😉 AND help you maintain a healthy cash flow, too!

Now here’s the thing …

I’m not saying you CAN’T reach those great big beautiful goals by yourself (after all, you got this far on your own, didn’t you??)

I’m just saying I can help you get there

🏎️ Faster
🥧 Easier
😴 And with more sleep!

And I LOVE supporting my fellow entrepreneurs in that way.

So if you’re ready to get some help hitting those great big 2022 goals of yours, just reach out today to schedule a free consultation call ❤️

[email protected]
859-363-5457

11/10/2021

Are your clients a little (or a lot) slow when it comes to paying their invoices? 😬

While you can’t pull out their credit card for them, there’s some things you can do in your invoicing process to increase your chances of getting paid – and even increase the sp*ed of the payment!

Here’s 5 simple tips on how to do it:

(𝟭) 𝗠𝗔𝗞𝗘 𝗬𝗢𝗨𝗥 𝗜𝗡𝗩𝗢𝗜𝗖𝗘 𝗧𝗘𝗥𝗠𝗦 𝗘𝗔𝗦𝗬 𝗧𝗢 𝗨𝗡𝗗𝗘𝗥𝗦𝗧𝗔𝗡𝗗

You may know that putting “CIA” on your invoices means “cash in advance” … but your client may read that and think “… Central Intelligence Agency…??”

Make sure your terms – both for payment period AND late fees! – are (literally) spelled out on every invoice

(𝟮) 𝗦𝗛𝗢𝗥𝗧𝗘𝗡 𝗬𝗢𝗨𝗥 𝗣𝗔𝗬𝗠𝗘𝗡𝗧 𝗣𝗘𝗥𝗜𝗢𝗗

Stats show that if you give more clients more time to pay – like 30 or 90 days - they’ll take it! So, logically, if you ask for payment sooner, you’ll receive payment faster.

You can do this by starting to ask your client for deposits, or shortening the payment period to 14 days or even “due on receipt of invoice”.

(𝟯) 𝗕𝗘 𝗣𝗢𝗟𝗜𝗧𝗘

Research shows that adding a simple “please” or “thank you” to your invoice results in faster payments!

(𝟰) 𝗠𝗔𝗞𝗘 𝗣𝗔𝗬𝗠𝗘𝗡𝗧 𝗘𝗔𝗦𝗬

You want to remove as much friction as possible when it comes to the payment process. Emailing them an invoice to pay online is MUCH easier and faster than mailing an invoice and waiting for a check in the mail.

(𝟱) 𝗛𝗔𝗩𝗘 𝗖𝗟𝗘𝗔𝗥 𝗟𝗔𝗧𝗘 𝗙𝗘𝗘𝗦 + 𝗘𝗡𝗙𝗢𝗥𝗖𝗘 𝗧𝗛𝗘𝗠

Just having a line about late fees on your invoice statistically increases your odds of getting paid on time!

And even if that doesn’t get a payment by the due date, you can do other things to incentivize (late) payment, like scheduling automated reminders in your billing software, charging the late fee, or withholding the final product until final payment.

(Want more invoicing tips? I also included an article below 👇 with more helpful advice on upgrading your invoicing process!)

Or … maybe you’re not exactly the type of person who gets excited at the idea of spending time reading about invoicing strategies … ? 😜

If that’s you – don’t you worry. I help all of my clients with their invoicing, and related cash flow strategies, so they don’t have to spend their limited time reading about it. And I’d love to help you, too!

[email protected]
859-363-5457

08/19/2021

What’s one task in your life that you pay someone else to do? 💵

🐶 Do you have someone walk your dog?
🧼 Clean your house?
🥡 Cook and deliver your food?

For me, my favorite task to outsource is Housecleaning once a month (you know, for those deep cleanings when you don’t just vacuum AROUND the furniture 😉 ).

Know why I’m MORE than happy to shell out the cash for it?

⏰ It gives me more time in the evening with my family, to do billable work in my busy practice, and to relax and have fun preparing my dogs for upcoming dog shows.

🧘‍♀️ I feel SO much better when I know my house is clean and organized. It makes me feel as though my life is also somehow organized.

👎 And, frankly, I just don’t have the patience to dust the baseboards or mop floors (my least favorite chore) – I would rather spend that time working on my business or spending time with my family.

Basically, it’s worth the money, because it makes my life easier and, therefore, makes me happier 🥰

And guess what?

𝙏𝙝𝙖𝙩’𝙨 𝙥𝙧𝙚𝙩𝙩𝙮 𝙢𝙪𝙘𝙝 𝙩𝙝𝙚 𝙨𝙖𝙢𝙚 𝙨𝙚𝙩 𝙤𝙛 𝙧𝙚𝙖𝙨𝙤𝙣𝙨 𝙬𝙝𝙮 𝙢𝙮 𝙘𝙡𝙞𝙚𝙣𝙩𝙨 𝙝𝙞𝙧𝙚 𝙢𝙚, 𝙩𝙤𝙤 ❤️

When one of my clients no longer has to worry about the bookkeeping in their own business … well, it makes their life easier and, therefore, makes them happier 🥰

⏰ Instead of spending late nights and weekends updating spreadsheets or dealing with accounts that won’t reconcile, they get to go out to dinner with friends or sleep in on Saturday morning.

🧘‍♀️ Instead of stressing out over if they can afford new equipment next month or how they’re going to pay their vendors, they already have a budget planned out for the rest of the year

👎 And, frankly, they were never that great at bookkeeping to begin with (just like me and Housecleaning!)
.. 𝙨𝙤𝙪𝙣𝙙 𝙛𝙖𝙢𝙞𝙡𝙞𝙖𝙧? 😬

If it helps, you can just think of me as:

🐶 Your financial dog walker
🧼 Your professional spreadsheet cleaner
🥡 Your Quickbooks chef and delivery guy

Because, in the end, it’s the same result:
I help make your business a little bit easier and, therefore, help make your life a little bit happier 🥰

(Which is why I LOVE to do what I do ❤️)

So stop stressing out and DIYing all that stuff you hate to do in your business.

Choose easier and happier 🥰 and schedule a call today to get started!

[email protected]
859-363-5457

08/18/2021

Sounds simple enough, right?

That you deserve to get a paycheck from your own business EVERY month, right?

However, the reality is that many entrepreneurs do NOT 🙁

Now … are you one of those entrepreneurs who don’t pay themselves? 💰 If that’s you, I wanna introduce you to the practice of “Profit First”

Basically, instead of thinking of profit as a last-priority leftover:

𝘚𝘢𝘭𝘦𝘴 – 𝘌𝘹𝘱𝘦𝘯𝘴𝘦𝘴 = 𝙋𝙍𝙊𝙁𝙄𝙏

Flip the script with a reverse budgeting strategy that puts profit before expenses:

𝘚𝘢𝘭𝘦𝘴 – 𝙋𝙍𝙊𝙁𝙄𝙏 = 𝘌𝘹𝘱𝘦𝘯𝘴𝘦𝘴

Instead of your paycheck ALWAYS being the first thing to go, you instead limit your expenses to make sure you ALWAYS get paid! Pretty great, right?

You can read more about it in Mike Michalowicz’ popular book, but here’s a short summary of the process:

1 – SET UP 5 DIFFERENT ACCOUNTS AT YOUR BANK

Remember how your grandma used to budget for the month with cash in different envelopes? It’s the same idea here:

(1) Income (Checking)
(2) Owner’s Compensation (Checking)
(3) Operating Expenses (Checking)
(4) Profit (Savings)
(5) Tax (Savings)

(Tip: you can usually give accounts nicknames on your banking site to help keep them straight!)

2 – FIGURE OUT YOUR CURRENT SPENDING %

Where does your revenue go when it comes in? Expenses, debt payments, etc? What can be changed?

3 – SET A GOAL FOR TARGET SPENDING %

What percentage do you want to put in your pocket? (P.S. It’s ok to start conservatively, and work up!)

4 – MAKE PAYMENTS TO MEET YOUR TARGET

Automatic recurring withdrawals to each account are easiest, ideally done once a week or biweekly

5 – THEN REEVALUATE + ADJUST EVERY QUARTER

Again, this is just a quick summary – you can always read the book, or skim the article below 👇 for more details!

https://www.waveapps.com/blog/accounting-and-taxes/make-a-profit-every-year-with-the-profit-first-formula

Or … maybe you love the idea, but feel overwhelmed about implementing the percentages + strategy? If that’s the case – just reach out! ❤️ I help my clients create pay-yourself-first strategies + systems all the time … and I’d love to help you, too!

[email protected]
859-363-5457

Mike Michalowicz’s book Profit First looks at how a new formula can deliver sustainable small business growth. Find out what it is and how to implement with these tips.

08/17/2021

Retrospect is 20/20, right? 👓

If you could go back and give your 17-year-old self some advice … what would you tell him or her? ❤️

Now that school is back in session again, it’s got me thinking about when I was a senior in high school – and all the things I wish I could’ve told myself.

For example, here’s the top five things that I would tell 17-year-old me:

1. When you have the option of taking a life skills in class in high school such as Money Management class, opt for that instead of the Drama class. I know you had a blast in Drama class, but learning how to balance your checkbook would have been so much more useful in life. 💰

2. Do yourself a favor- don’t get a credit card until you’re 30. Those high-interest rates will kill you. If you can’t afford it, don’t buy it. People don’t care what you have, and if they do they probably aren’t the kind of people you want to have in your life. 💳

3. People will come, and people will go. The people you hang out with at various stages of your life will change. Some will be there for the long haul and some will come and go. That’s just life. Learn something from all of them. 🧑‍🤝‍🧑

4. Don’t spend energy worrying about the past or planning too far in the future. Story of my life. Even now, I find that I worry too much about the future – like WAY in the future. Things that aren’t happening for months and months. I need to take my own advice and chill the heck out sometimes. I get really worked up over the dumbest things. So, do as I say… not as I do on this one. 🤦

5. Stop trying to plan everything out. Nothing in life will go the way you think it's supposed to. And that's a good thing. Remember what your favorite high school teacher said, "There are only two guarantees in life: the sun will come up and you will have to p*e in the morning." 😆

In case you can’t tell from some of the items on this list, I really struggled with money management in my early twenties and my finances always felt like they were out of control. I think that is why in my later years I chose Bookkeeping as a profession – learning how to manage money made my life so much better and I wanted to help others like I had been helped all those years ago. At age 51 my finances are under control but as to the rest of the items on my list.... let’s just say that I am a work in progress. 😜 😬

But, of course, that’s just me ❤️

What about you? What were you like when you were 17?

And what advice would you give to your 17-year-old self?

08/12/2021

NO ONE can run your business like you do 💪

🤝 Customer service? No one over delivers like you do
☎️ Sales calls? No one closes ‘em like you can
➕ New leads? No one adds them faster than you

You are THE BEST at everything …

… but then that means you literally do EVERYTHING.

Every. Single. Thing.

From the social media posts to the Excel spreadsheets to the payroll reports and even taking out the garbage – you do it all.

Because, after all … no one can do it as good as you can, right? 😕

But on the flip side of that coin … what’s left for you? 💔

⚽ Instead of spending Saturday morning at your daughter’s soccer game, you’re spending it at the office catching up on payroll and client invoices

🍷 Instead of staying out late with friends having a good dinner at a good restaurant, you work late to catch up on all of your vendor payments and bank statements

🏖️ And can you remember the last time you took a vacation? (And I don’t mean a “working vacation”, where you spent half of every day on your laptop putting out fires)

And it is true – no one can run your business like you do 💪

BUT - that doesn’t mean you have to do every single thing all by yourself (especially those boring things you do NOT like to do, like quarterly tax filings and endless receipt management 🧾 🧾 🧾)

After all, you didn’t leave the 9-5 world … just so you’d have to work 24/7 for the rest of your life, right? ⏰

That’s why I LOVE what I do – because, even as a bookkeeper, I get to help you get back to your LIFE 🌼

⚽ You can sleep in on Saturday – because payroll is already done and your clients have already received (and paid) their invoices

🍷 You can leave the office while it’s still light outside – because all your vendors are happy and paid early

🏖️ You can even **gasp** plan a vacation that’s, well … actually a vacation!

You CAN have both a business AND a life ❤️

I know – because that’s the work-life balance I LOVE to give to the rest of my clients, every single day.

Want to get your evenings and weekends and vacations and LIFE back, too?

Just schedule a free call today to get started ❤️

[email protected]
859-363-5457

08/11/2021

In your business, who runs your financial reports? 📊 You? … Or your accountant only once a year (or quarter, if you’re lucky)?

Here’s the bad news, my friend– I’m here to tell you that YOU need to run the financial reports … AND that you should do it every month 😬

I know, I know, not exactly your idea of fun - but here’s the GOOD news:

It’s easier than you think it is ❤️ And doing it every month can help you save SO much time, stress and money.

So let’s walk through it all together:

📆 1 - UPDATE and reconcile your transactions every single month (weekly is better). Otherwise, the reports will be useless.

📊 2 - RUN the three main financial reports:

📈 PROFIT + LOSS (P&L): This report tells you if your business making money (or not)
📈 CASH FLOW STATEMENT: This report tells you if pay your upcoming bills
📈 BALANCE SHEET: This report gives you a snapshot of the current value of your business

👀 3 – LOOK at the key numbers:

Now that you’ve got the reports – what do you look for? And what does it mean? Here’s 4 key numbers:

💵 Net Profit – This tells you if your business is profitable, and if your profits are heading in an upward (or downward) pattern
💵 Accounts Receivable – This tells you if have a lot of unpaid invoices (and if you need to go after some slow-paying customers)
💵 Expenses – Compare your expense trends with your revenue growth. Are your expenses growing faster than revenue? (That’s a red flag!)

And that’s just scratching the surface 🥰 Monthly reports can also help you plan your quarterly taxes, and will help protect you in case of an audit!

For more about monthly reports and how to use them, I’ve attached an article in the comments 👇

Still not sold? I get it 😉 Fussing with financial reports every month … well, it probably isn’t your favorite thing to do (especially if your records are WAY behind), right?

No worries ❤️ I handle monthly reports – and their meanings – every month for my clients. And I’d love to help give you the same stress-free clarity. If that sounds good – just reach out today!

[email protected]
859-363-5457