http://www.crystalfoxbookkeeping.com/

Crystal Fox Bookkeeping LLC, Independence, MO (2026)

01/09/2023

Who’s ready to use an accounting software instead of an excel spreadsheet for their business this year?! 😍

QuickBooks discount link in the comments! It’ll get you the best rate for your first year ♥️

12/08/2022

Ever wish you had a crystal ball 🔮 when it came to the future of your business’ finances?

Something to answer questions like:

🔮 “Can I afford to hire 2 part-time employees for busy season?”, or

🔮 “When will I have enough money to buy new equipment?”

Now, I don’t have a crystal ball – but I have the next best thing:

🔮 𝙲𝚊𝚜𝚑 𝙵𝚕𝚘𝚠 𝙵𝚘𝚛𝚎𝚌𝚊𝚜𝚝𝚒𝚗𝚐 🔮

𝗪𝗛𝗔𝗧 𝗜𝗦 𝗜𝗧?

Cash flow forecasting is a way of using your 𝙥𝙖𝙨𝙩 𝙖𝙣𝙙 𝙘𝙪𝙧𝙧𝙚𝙣𝙩 financial history to estimate your 𝙛𝙪𝙩𝙪𝙧𝙚 business cash flow.

𝗛𝗢𝗪 𝗗𝗢𝗘𝗦 𝗜𝗧 𝗪𝗢𝗥𝗞?

𝗦𝘁𝗲𝗽 𝟭: 𝗨𝗽𝗱𝗮𝘁𝗲 𝘆𝗼𝘂𝗿 𝗳𝗶𝗻𝗮𝗻𝗰𝗲𝘀 - You can’t predict the future if you don’t know the present!

𝗦𝘁𝗲𝗽 𝟮: 𝗥𝘂𝗻 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗿𝗲𝗽𝗼𝗿𝘁𝘀 - Specifically, your cash flow report and your P+L report with at least one year of data!

𝗦𝘁𝗲𝗽 𝟯: 𝗔𝗻𝗮𝗹𝘆𝘇𝗲 𝗺𝗼𝗻𝗲𝘆 𝗰𝗼𝗺𝗶𝗻𝗴 𝗶𝗻 – Look for past patterns + apply them to the future. Will I have the same clients for the foreseeable future? Will I sell assets or take loans?

𝗦𝘁𝗲𝗽 𝟰: 𝗔𝗻𝗮𝗹𝘆𝘇𝗲 𝗺𝗼𝗻𝗲𝘆 𝗴𝗼𝗶𝗻𝗴 𝗼𝘂𝘁 – Will my expenses stay the same – or increase? Do I have large one-time expenses coming up?

𝗦𝘁𝗲𝗽 𝟱: 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁 𝗮𝘄𝗮𝘆! – Now, take everything you learned, and project it out over the next 1, 6 or 12 months! And you’ll have a solid foundation of data (𝘢𝘭𝘮𝘰𝘴𝘵 as good as a crystal ball 🔮) to answer your future budget questions

(Btw - here’s a helpful blog that goes into more detail in the comments!👇)

If you want some help predicting your business cash flow, I don’t have a crystal ball, but I am a Crystal 😉– just reach out! I’d love to help.

816-686-1488
[email protected]

10/31/2022

𝗪𝗵𝗮𝘁 𝗶𝗳 𝗶𝘁 𝗱𝗶𝗱𝗻’𝘁 𝗵𝗮𝘃𝗲 𝘁𝗼 𝗯𝗲 𝘀𝗼 𝗵𝗮𝗿𝗱? ❤️

I’m serious – take a second to imagine what it would be like if your business finances weren’t *so* hard … or what if they were even (gasp!) easy?!

🤩 𝗪𝗛𝗔𝗧 𝗜𝗙 tax season was a 𝘀𝗺𝗼𝗼𝘁𝗵 𝗮𝗻𝗱 𝗲𝗮𝘀𝘆 process you finished early – and barely had to think about?

😍 𝗪𝗛𝗔𝗧 𝗜𝗙 checking your business bank account (and the new client deposits!) was a 𝗾𝘂𝗶𝗰𝗸 (𝗮𝗻𝗱 𝗳𝘂𝗻!) part of your daily routine?

🥳 𝗪𝗛𝗔𝗧 𝗜𝗙 you were 𝗲𝘅𝗰𝗶𝘁𝗲𝗱 to get your financial reports, and knew exactly how to turn them into 𝗽𝗿𝗼𝗳𝗶𝘁𝗮𝗯𝗹𝗲 business strategies?

… Sounds too good to be true, right?

Let me guess: You probably think that it’s totally normal…

🤯 𝗡𝗼𝗿𝗺𝗮𝗹 … to be in a constant state of 𝗽𝗮𝗻𝗶𝗰 during tax season

🤮 𝗡𝗼𝗿𝗺𝗮𝗹 … to 𝗱𝗿𝗲𝗮𝗱 checking your bank account

😰 𝗡𝗼𝗿𝗺𝗮𝗹 … to 𝗮𝘃𝗼𝗶𝗱 your (𝗼𝘂𝘁𝗱𝗮𝘁𝗲𝗱 and 𝘂𝗻𝗿𝗲𝗮𝗱𝗮𝗯𝗹𝗲) financial reports

But here’s the thing:

𝙄𝙩 𝙙𝙤𝙚𝙨𝙣’𝙩 𝙝𝙖𝙫𝙚 𝙩𝙤 𝙗𝙚 𝙩𝙝𝙞𝙨 𝙬𝙖𝙮.

Starting today (yup, today) you can get the help you need to transform your business finances

😱 From a total nightmare

😇 To an absolute breeze

All you have to do is hire a nerdy numbers-lovin’ superstar bookkeeper (like me!) 😉

❤️ No matter how far behind your financials are, I’ll get you caught up!

❤️ Tax season freaks you out? I’ll be your partner, making it a smooth and stress-free process for you.

❤️ And don’t worry about those financial reports – I’ll turn them into clean and current tools for your business (written in easy-to-read plain English!)

So stop dreading and avoiding and panicking and procrastinating and downright 𝙃𝘼𝙏𝙄𝙉𝙂 your business finances.

And stop accepting the lie that “that’s just the way it is”

𝙄𝙩 𝙙𝙤𝙚𝙨𝙣’𝙩 𝙝𝙖𝙫𝙚 𝙩𝙤 𝙗𝙚 𝙩𝙝𝙞𝙨 𝙬𝙖𝙮.

Just reach out today

So we can start making your business finances

❤️ Easier

❤️ Less stressful

❤️ And (at least in my opinion!) more fun!

Give me a call or send me a message!
816-686-1488
[email protected]

10/26/2022

Who is planning to buy gifts for their clients this holiday season?! 🎄🎁 😍

If so, awesome! Client gift giving can enhance your client relationships, and generate more leads and referrals (whoop whoop!) 🙌

However, no matter how good the gift is … you still gotta track those gift purchases in your financial records … and your upcoming 2022 taxes! 😬

Here's what you need to know about your client gifts, how tax deductible they are, and how to track them in your financial software!

(𝟭) 𝗪𝗵𝗮𝘁 𝗖𝗼𝘂𝗻𝘁𝘀 𝗔𝘀 𝗔 𝗧𝗮𝘅 𝗗𝗲𝗱𝘂𝗰𝘁𝗶𝗯𝗹𝗲 𝗖𝗹𝗶𝗲𝗻𝘁 𝗚𝗶𝗳𝘁 𝗶𝗻 𝟮𝟬𝟮𝟮?

It depends what you buy and how much it costs…

Back in 1962, the IRS set the tax-deductible limit for client gifts at just $25!!! 𝘛𝘩𝘪𝘴 𝘮𝘦𝘢𝘯𝘴 𝘵𝘩𝘢𝘵 𝘰𝘯𝘭𝘺 𝘵𝘩𝘦 𝘧𝘪𝘳𝘴𝘵 $25 𝘰𝘧 𝘺𝘰𝘶𝘳 𝘤𝘭𝘪𝘦𝘯𝘵 𝘨𝘪𝘧𝘵 𝘪𝘴 𝘵𝘢𝘹 𝘥𝘦𝘥𝘶𝘤𝘵𝘪𝘣𝘭𝘦.

And, in 2018, the IRS also decided that “entertainment” expenses were no longer tax deductible. So that means 𝘺𝘰𝘶'𝘳𝘦 𝘱𝘳𝘰𝘣𝘢𝘣𝘭𝘺 𝘣𝘦𝘵𝘵𝘦𝘳 𝘰𝘧𝘧 𝘴𝘵𝘪𝘤𝘬𝘪𝘯𝘨 𝘵𝘰 𝘱𝘳𝘰𝘥𝘶𝘤𝘵 𝘨𝘪𝘧𝘵𝘴.

(𝟮) 𝗛𝗼𝘄 𝗧𝗼 𝗧𝗿𝗮𝗰𝗸 𝗗𝗲𝗱𝘂𝗰𝘁𝗶𝗯𝗹𝗲 𝗩𝘀. 𝗡𝗼𝗻-𝗗𝗲𝗱𝘂𝗰𝘁𝗶𝗯𝗹𝗲 𝗔𝗺𝗼𝘂𝗻𝘁𝘀 𝗶𝗻 𝗤𝘂𝗶𝗰𝗸𝗯𝗼𝗼𝗸𝘀

If you buy a $30 gift basket for a client, $25 of that is tax deductible …buuuut $5 isn’t 😑

To solve this, set up 2 different expense accounts for “client gift”, one deductible and one non-deductible, and split out the gift costs between the two accounts!

(BTW, I know a single post can't cover it all, so I also included a helpful link below! 👇)

Comment below and share!… what gift are you MOST excited to give someone this year?!

10/18/2022

When has it *ever* been a good idea to wait and procrastinate until the last minute? 😬 😅

Never, right?

𝗜𝘁'𝘀 𝗮𝗻 𝗲𝘃𝗲𝗻 𝗪𝗢𝗥𝗦𝗘 𝗶𝗱𝗲𝗮 𝘁𝗼 𝗽𝗿𝗼𝗰𝗿𝗮𝘀𝘁𝗶𝗻𝗮𝘁𝗲 𝗼𝗻 𝗵𝗶𝗿𝗶𝗻𝗴 𝗮 𝗯𝗼𝗼𝗸𝗸𝗲𝗲𝗽𝗲𝗿

𝘼𝙣𝙙 𝙞𝙛 𝙮𝙤𝙪'𝙧𝙚 "𝙬𝙖𝙞𝙩𝙞𝙣𝙜 𝙪𝙣𝙩𝙞𝙡 𝙩𝙝𝙚 𝙝𝙤𝙡𝙞𝙙𝙖𝙮𝙨 𝙖𝙧𝙚 𝙤𝙫𝙚𝙧" - 𝙮𝙤𝙪 👏 𝙖𝙧𝙚 👏 𝙥𝙧𝙤𝙘𝙧𝙖𝙨𝙩𝙞𝙣𝙖𝙩𝙞𝙣𝙜 👏

Think about the perfect wedding 💍 and everything involved in planning it:

⛪ The perfect venue
🍽️ That awesome caterer from your cousin’s wedding
👗 The perfect dress (with alterations)
🎂 That amazing 3-tier buttercream wedding cake
🌹 And all those long-stemmed red roses

All of those things need to be scheduled MONTHS in advance, right?

And if you wait until the last minute … well … your wedding isn’t going to be this seamless stress-free beautiful thing you imagined in your mind.

So you get the point, right?

𝗜𝗳 𝘆𝗼𝘂 𝘄𝗮𝗻𝘁 𝘁𝗵𝗲 *𝗯𝗲𝘀𝘁* 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝘀𝘂𝗽𝗽𝗼𝗿𝘁 + 𝘁𝗮𝘅 𝗽𝗿𝗲𝗽 𝗳𝗼𝗿 𝘆𝗼𝘂𝗿 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀, 𝙉𝙊𝙒 𝗶𝘀 𝘁𝗵𝗲 𝘁𝗶𝗺𝗲 𝘁𝗼 𝗳𝗶𝗻𝗱 𝗶𝘁 𝗮𝗻𝗱 𝗵𝗶𝗿𝗲 𝗶𝘁 – 𝙉𝙊𝙏 𝗿𝗶𝗴𝗵𝘁 𝗯𝗲𝗳𝗼𝗿𝗲 𝗔𝗽𝗿𝗶𝗹 𝟭𝟱𝘁𝗵.

Just like those dreamy wedding venues and first-rate caterers, the best bookkeepers get booked up before tax season gets here 😉

Call, email, or message me to get yourself prepared for tax season!

816-686-1488
[email protected]

10/12/2022

How much time does it take you to quote, invoice AND get paid for a project? ⏰ 🤔

Take a moment to *really* think about all the steps involved:

📄 Assembling a customized quote
💰 Creating + sending an invoice (via email OR snail mail!)
🔁 And THEN sending 2 (or 10) “past due” reminder statements

Did you know that the average small business spend 15 hours EVERY WEEK, just on financial admin tasks like these - ?!

So, to help you cut down on all that lost time, here’s some of my favorite time-saving QB features and integrations:

𝗛𝗘𝗟𝗣𝗙𝗨𝗟 𝗤𝗕 𝗙𝗘𝗔𝗧𝗨𝗥𝗘𝗦:

⏰ ONLINE PAYMENT: Email invoices with online payment links
⏰ INVOICE TEMPLATES: Use the “memorize transaction” feature for similar invoices
⏰ SALES TAX: Set up + automate the appropriate sales tax amount in your settings
⏰ REMINDERS: Automate reminder statements to go out if unpaid by a pre-set date
⏰ LATE FEES: Automatically calculate – and add – late fees to unpaid invoices

𝗔𝗡𝗗 𝗔 𝗙𝗘𝗪 𝗛𝗘𝗟𝗣𝗙𝗨𝗟 𝗜𝗡𝗧𝗘𝗚𝗥𝗔𝗧𝗜𝗢𝗡𝗦:

🤝 TSHEETS: Helps with time tracking (and billing) for you + your workers
🤝 CRMs: Connect customer relationship managers software, like Method:CRM or Insightly
🤝 YOUR BANK WEBSITE: Set up an automated transaction feed to reduce time and error

Hopefully you can start using at least one of these today to help you save time on your invoice process!

(I’m also putting a helpful video in the comments👇 that walks you through setting up custom automated workflows like these in your QB account)

If you have questions or need help with your books, let me know!

[email protected]

10/03/2022

You’ve heard the phrase, “The road to hell is paved with good intentions”, right? 🤣

Well – did you know that the road to tax penalties, overdraft fees and even audits is ALSO paved with good intentions? 😬

Lemme know if this sounds familiar:

🤞 "𝘐 𝘬𝘦𝘦𝘱 𝘮𝘦𝘢𝘯𝘪𝘯𝘨 𝘵𝘰 𝘨𝘦𝘵 𝘢𝘳𝘰𝘶𝘯𝘥 𝘵𝘰 𝘪𝘵, 𝘐 𝘴𝘸𝘦𝘢𝘳"

I know, you know it’s important to update your company’s bookkeeping and financial records, like bank statements and client payments.

BUT - it’s not the ONLY important thing, right?? You’re trying to grow your business AND have some kind of personal life, too.

So something that doesn’t feel urgent … it’s easy to back-burner it

🤞 "𝘕𝘰 𝘳𝘦𝘢𝘭𝘭𝘺, 𝘵𝘩𝘪𝘴 𝘸𝘦𝘦𝘬𝘦𝘯𝘥, 𝘐 𝘱𝘳𝘰𝘮𝘪𝘴𝘦, 𝘐'𝘭𝘭 𝘴𝘪𝘵 𝘥𝘰𝘸𝘯 𝘢𝘯𝘥 𝘤𝘢𝘵𝘤𝘩 𝘶𝘱"

I know, you know you’re a little (or a lot) behind, so you tell yourself you’ll get to it this weekend

… Until your kid reminds you about that birthday party you already committed to this Saturday.

🤞 "𝘐 𝘯𝘦𝘦𝘥 𝘵𝘰 𝘸𝘢𝘪𝘵 𝘶𝘯𝘵𝘪𝘭 𝘣𝘶𝘴𝘺 𝘴𝘦𝘢𝘴𝘰𝘯 𝘦𝘯𝘥𝘴 - 𝘢𝘯𝘥 𝘛𝘏𝘌𝘕 𝘐'𝘭𝘭 𝘣𝘦 𝘢𝘭𝘭 𝘰𝘷𝘦𝘳 𝘪𝘵"

I know, you’re already working 80-hour weeks just trying to stay afloat. How do you find time for those non-urgent (but still important) things when EVERYTHING is an emergency?

Your finances waited this long, they can wait a little longer … right?

Here’s the problem:

𝙄𝙩 𝙠𝙚𝙚𝙥𝙨 𝙝𝙖𝙥𝙥𝙚𝙣𝙞𝙣𝙜

And suddenly it’s tax season. And a pile of good intentions has added up to:

💵 Unpaid + overdue payments from clients

💵 Overdraft fees from your bank

💵 And tax fines from the IRS

I’ve seen this happen to my clients.

And I don’t want this happen to you, too ❤️

So give up your good intentions – and just reach out ❤️

Every single day, I’m helping my clients stay current and ready for tax season and I’d love to help do the same for you.

[email protected]
816-686-1488

09/26/2022

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

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

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

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

Here’s an example on how to handle a refund in QBO:

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 (on August 3rd) you return it – and Amazon refunds that $39.99 directly to your 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 (incorrectly) label it “uncategorized income”

(𝟮) Now locate the $39.99 𝙥𝙖𝙮𝙢𝙚𝙣𝙩 in July. 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)

That’s it! Easy as 🥧

❌ No messy deletions

❌ No inaccurate labels 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 QB, I attached a helpful YouTube video below 👇)

If taking care of the details isn’t your thing, you know who to call! 😉

[email protected] 816-686-1488

09/16/2022

“ ⏰ More Time! 💵 More Money! ☮️ Less Stress!”

Sounds too good to be true, right?

If one thing advertises all of those features, it sounds about as realistic as a commercial for an overnight diet pill, right? 😜

You definitely wouldn’t think that someone like a 𝘽𝙊𝙊𝙆𝙆𝙀𝙀𝙋𝙀𝙍 could offer all of those crazy-awesome things … right? 🧐

Here’s the funny thing – unlike the overnight diet pill, a great bookkeeper (like me!) really can help you work less, earn more, and stress less! ❤️

DID YOU KNOW….

⏰ 𝗠𝗢𝗥𝗘 𝗧𝗜𝗠𝗘

Starling Bank reported that the average small business spends nearly 20% of their time every week (15 hours - !) handling bookkeeping tasks 😱

How much more could you accomplish – and bill! – with TWO EXTRA DAYS every single week??

💵 𝗠𝗢𝗥𝗘 𝗠𝗢𝗡𝗘𝗬

Think how much more you could earn with 15 extra BILLABLE hours every week! (If you bill your time at $50/hr, that’s an extra 3 THOUSAND dollars every month!)

Not to mention all the costs you’ll save with a bookkeeper’s help, like:

💵 Overdraft charges from your bank (about $35 each time it happens!)

💵 Fines from payroll mistakes (it happens to 40% of business owners!)

💵 Filed your taxes late? That could be up to a 25% fine

💵 And more!

☮️ 𝗟𝗘𝗦𝗦 𝗦𝗧𝗥𝗘𝗦𝗦

And if you’re making an extra $3k every month - and no longer have to work weekends to keep up - I think it’s safe to assume your stress level will go WAY down.

Basically, I just want you to know that, right now, you can get the help you need to work less, earn more, and have less stress in your business ❤️ and it’s as simple as hiring a great bookkeeper. 😉

You can call, email, or message me!
816-686-1488
[email protected]

09/07/2022

⬆️ Sometimes the easiest way to increase the profit margin in your business …

⬇️ … is to decrease your expenses.

But how do you figure out where you’re overspending? And what you can cut? ✂️

Well, if your bookkeeping is up-to-date, you can find out in five minutes with some simple reports 🥳

Here’s 3 of my favorite financial reports that can help you spot where you can reduce your expenses:

(𝟭) 𝗘𝘅𝗽𝗲𝗻𝘀𝗲𝘀 𝗯𝘆 𝗩𝗲𝗻𝗱𝗼𝗿 (𝗬𝗲𝗮𝗿 𝗦𝘂𝗺𝗺𝗮𝗿𝘆)

This gives you a bird’s eye view of every vendor and expense, and is great for spotting irregular payments (like quarterly taxes)!

This can help remind you to pay certain bills and filings on time (and avoid interest and late fees).

(𝟮) 𝗘𝘅𝗽𝗲𝗻𝘀𝗲𝘀 𝗯𝘆 𝗩𝗲𝗻𝗱𝗼𝗿 (𝗠𝗼𝗻𝘁𝗵𝗹𝘆 𝗖𝗼𝗺𝗽𝗮𝗿𝗶𝘀𝗼𝗻)

In this report view, look for things you pay for every month, like rent or subscriptions - have your business needs recently changed?

Do you need to pay $70/month for the deluxe version of that CRM software? Or can you downgrade to a cheaper version?

(𝟯) 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝘀 𝗣𝗮𝘆𝗮𝗯𝗹𝗲 𝗥𝗲𝗽𝗼𝗿𝘁

Every vendor has different payment terms (15 days, 90 days, etc.) - and different late fee terms 😬

Sure, the late fee may only be 1.5% … but if it happens on a vendor bill for $7,000, that’s still $105 bucks (plus interest) you didn’t have to pay!

❤️ Pretty straightforward, right?

I hope one of those 3 reports can you help you reduce your expenses – and increase your profit – too!

Who has a strategy to share for spotting and reducing expenses? Put it in the comments if you do!

Remember, these reports only work if your bookkeeping is up to date 😅

If you need help getting your books up to date or pulling these reports, just reach out!

816-686-1488
[email protected]

07/20/2022

Would anyone prefer to have a stress-free tax season this year for their business? 🤔

….As opposed to a stress-FULL tax season that many business owners probably experienced last year? 😬

Im guessing…

😓 You forgot (or lost) half of your deductible expense receipts – so you ended up paying more taxes than you had to

😓 The last two weeks before the tax deadline, you stopped ALL billable work to try and sort through 11 months of unorganized financial records

😓 You ended up paying your accountant super-high last-minute rush fees, and then realized you also have to pay late fees for all those quarterly deadlines that you forgot (again)

Let’s be honest… no one wants to do that AGAIN

So - here’s the important thing to know:

𝗣𝗿𝗲𝘃𝗲𝗻𝘁𝗶𝗻𝗴 𝗮 𝘀𝘁𝗿𝗲𝘀𝘀𝗳𝘂𝗹 𝘁𝗮𝘅 𝘀𝗲𝗮𝘀𝗼𝗻 𝗱𝗼𝗲𝘀𝗻’𝘁 𝘀𝘁𝗮𝗿𝘁 𝗼𝗻 𝗔𝗽𝗿𝗶𝗹 𝟭𝟰𝘁𝗵 - 𝗶𝘁 𝘀𝘁𝗮𝗿𝘁𝘀 𝗿𝗶𝗴𝗵𝘁. 𝗻𝗼𝘄.

That’s exactly what bookkeeping services are for! Here’s how I can help YOU!…

🤓 As soon as you sign up, we’ll create a plan to get your finances current (LONG before the due date)

🤓 Once you’re caught up, I’ll take care of the monthly maintenance: your bank statements, your expense categories, and more

🤓 And I’ll also be in your corner, reminding you of quarterly filing deadlines and translating your financial reports into plain-English business strategies

Which means that, when April 15th rolls around this time, you’ll get to enjoy:

⏰ No panicked interruptions in your (much more enjoyable) billable work

🧘🏻‍♀️ Your tax prep finished by February – which means you file your taxes early (!) and with time to spare

💰 Lower tax payments, no late fees – and higher profit margins

So – if you’re ready to avoid a repeat of last year’s super-stressful tax season – then just reach out and let’s get started! ❤️

07/14/2022

Did you know that a fully-loaded Swiss Army Knife comes with 38 different tools? 🛠️

Did you know that your business’ Profit and Loss Report is just as versatile?!

If you know how, you can “unfold” your P+L Report into a dozen different versions and get tons of information, like:

🤩 Comparing your expenses month by month

🤩 Breaking out and comparing your revenue streams

🤩 Comparing your current business income to this time last year

So, here’s 3 helpful versions of your P+L Report, how to create them, and how they help you and your business:

𝟭 – 𝗗𝗶𝘀𝗽𝗹𝗮𝘆 𝗰𝗼𝗹𝘂𝗺𝗻𝘀 𝗯𝘆: 𝗠𝗼𝗻𝘁𝗵𝘀

HOW TO RUN IT IN QBO: (1) Run a normal P+L report (2) Under “Display columns by”, select “Months” (3) Click “Run report”

WHY IT HELPS: Has your ad spending gone up since January – with no increase in revenue? This report will help you spot that

𝟮 – 𝗖𝗼𝗺𝗽𝗮𝗿𝗲 𝗮𝗻𝗼𝘁𝗵𝗲𝗿 𝗽𝗲𝗿𝗶𝗼𝗱: 𝗣𝗿𝗲𝘃𝗶𝗼𝘂𝘀 𝗬𝗲𝗮𝗿

HOW TO RUN IT IN QBO: (1) Run a normal P+L report (2) Under “Compare another period”, select “Previous Year (PY)” (3) Click “Run report”

WHY IT HELPS: Have a goal to make $X more revenue than last year? Run this version every quarter to see if you’re on track

𝟯 – 𝗗𝗶𝘀𝗽𝗹𝗮𝘆 𝗰𝗼𝗹𝘂𝗺𝗻𝘀 𝗯𝘆: 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝘀/𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀

HOW TO RUN IT IN QBO: (1) Run a normal P+L report (2) Under “Display columns by”, select “Products/Services” (3) Click “Run report”

WHY IT HELPS: Have a lot of revenue streams? This can help you see which ones make money - and which ones don't

Do you have a favorite financial report that really helps you and your business in a specific way? If so, please share it in the comments!

… However, none of this is relevant if your bookkeeping isn’t up to date 😬 So if you need help getting your data updated and organized so you can create reports like these, then just reach out ❤️

Crystal Fox Bookkeeping LLC

01/09/2023

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