Venus Bookkeeping

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Venus Bookkeeping

Venus Bookkeeping

09/09/2022

Solopreneurs fall victim to this mindset all too often. They think they need to do everything in their business to be successful.

That way of thinking couldn’t be further from the truth!

Doing everything on your own isn’t sustainable. You’re inevitably going to burn out.

Don’t make this mistake! Let us take bookkeeping off your to do list.

07/09/2022

Our series is coming to an end with your sales!

I’d you’re not collecting payment immediately upon the sale of goods or services, you should be recording an increase to Accounts Receivable.

Why do businesses mess this up so often?

When you make a sale, business owners are eager to increase their sales number and in this excitement they may think this should increase their cash too!

But your customer hasn’t actually had their payment processed! You need to be recording a second transaction when you actually get paid.

If you’ve made it all the way through this series great job! Accounting can be dry and boring but is so important for your business that it can be done correctly.

You don’t know what you don’t know, so hire a professional 😊

17/08/2022

The obvious answer is Tax Time!

But, that’s one of many reasons bookkeeping is an essential part of your business.

Here’s what good bookkeeping teaches.

🔸Where you may be overspending without a return on investment

🔸Whether you can afford to hire a new employee

And many more things to help you confidently make decisions as a business owner!

27/06/2022

✨Working from Home ✨

Here at Venus, we have a love for beautiful spaces!

Emerald likes to work in areas of her home with good lighting, plants, and her coffee pot nearby🌿☕️✨

What are some of your essentials for your work space? Comment below and let us know! ✨

23/06/2022

✨If providing the best possible service is the FIRST thing on your mind as a business owner, there’s a good chance that reconciling your bank statement is the LAST ✨

Ready to stop feeling overwhelmed by your bookkeeping?

Let’s talk about how we can save you time + money each month!

Book a consultation in the link above ⬆️😊

08/06/2022

✨It sounds SO simple right - just do one of these things and the money will come flowing in! ✨

In Josh Kaufman's book The Personal MBA, he identifies the only 4 real ways to increasen your revenue.

🌿Increase the number of customers 🌿Increase the average transaction
🌿Increase transaction frequency
🌿Raise your prices

We encourage you to pick ONE of these four principles to focus on this month and use it as a starting point!

Have any questions? Feel free to reach out to us. Link is in the bio! 😊

03/06/2022

✨Mistakes happen - but here's what hiring a bookkeeper can prevent!✨

Let's say your card number has fallen into the hands of the wrong person, now your bank account is getting dinged for an extra $12 a month! Sure, it may not be much for a one-time charge, but that's almost $100 a year!

When we work together, we are looking out for anything that looks like a fraudulent charge.

When we catch that $12 charge in the first month, you're probably going to be able to charge back to your bank.

12 months later? Well... maybe not so much luck!

Have any questions about what it means to work with a bookkeeper? DM us or set up a free consultation in the link above ⬆️😊

19/05/2022

✨Financial Statements ✨

As a business owner, there are three main financial statements that you should be aware of:

🔸1. Income Statement

Your income statement (also called profit and loss statement, or a P&L) shows revenue, expenses, and net income.

🔸2. Balance Sheet

The balance sheet shows you the big picture of your business! There are three sections: assets, liabilities, and owner's equity.

Do you remember the accounting equation? (assets= liabilities+ equity) this refers to your balance sheet!

🔸3. Cash Flow Statement

The name of this statement is pretty self-explanatory - it shows how cash is flowing in and out of your business! While it may sound simple, analyzing and understanding cash flow is SO important for the long term sustainability of your business.

Here at Venus, we prove our clients with monthly and/or quarterly financial statements so they can be in the know with the financial health of their business.

Do your financial statements need a refresh (or to be prepared for the first time)? Set up a consultation with us!🌿

18/05/2022

✨Do you manage your own books as a business owner? Are you getting to a point where you think it’s time for you to hire out this service? ✨

We encourage everyone to understand the basics of bookkeeping to feel empowered and be in the know about your business.

However, there comes a point when every business owner needs to make the decision to hire a bookkeeper.

We’ve listed 6 signs you need a bookkeeper below! ⬇️

🔸You have a nagging feeling about something you need to do (your bookkeeping) but you continue to put it off

🔸You avoid doing it altogether & are behind on your books - maybe even years behind

🔸You’re spending too much time doing books and are realizing that time can be better spent focusing on other aspects of your business

🔸You’re doing your own books but unsure if you are doing it correctly causing unnecessary anxiety and worry

🔸At the end of the month you are wondering where your money went and don’t have a clear understanding of your cash flow

🔸You’re looking to grow and scale your business and are looking to hire a team that can help get you there

Is this you? Love yourself today and book a free 30 min consultation on our website so we can help you 💚

06/05/2022

✨What is a chart of accounts? COA ✨

Your chart of accounts is your best friend when it comes to organizing your finances and categorizing your transactions correctly.

There are 5 main types of financial accounts within your chart of accounts. These are Assets, Liabilities, Equity, Expenses, and Revenue.

HOWEVER (and this is where the magic comes in✨) you can have sub categories within those accounts for your unique business goals. Here is an example: let’s say you are a creative entrepreneur who’s opened their own online herb shop. 🌿 You may want to be able to track your different areas of revenue, such as selling plants or teaching online classes. In this case you can have different revenue accounts. One called Plant Sales and the other called Education Income.

How do you use your COA? First and foremost you want to get very familiar with your chart of accounts and customize it to your needs. When transactions come in, you will categorize them into their appropriate accounts. Using the example from above, if a transaction came in the bank feed from a plant sale, you would categorize that transaction into your Plant Sale account.

Have any questions or want to know more? Tell us in the comments!

💜your team

02/05/2022

Happy May, buisness owners!

Over here at Venus, we are feeling enlivened and inspired by this month and the return of Spring Season 🌿

Our goal this month is to focus in more on marketing to our specific niche (the creative entrepreneur). We love working with people who have built businesses out of their unique passions. Your inspiration inspires us!

What are your business goals this month? Tell us in the comments below

💜Yourteam

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