Fortified Accounting

06/13/2022

I had the pleasure and honor to be a guest interviewer of Will Little the creator and host of the Ventures Podcast. 100 episodes is such a significant milestone that we thought it would be fun to get to know the host and creator behind the Ventures Podcast.

In this episode of Ventures, I interviewed Will (https://lnkd.in/grziSK_W) to reflect on the initial 99 episodes. I asked Will all about the origin story of the show, what surprised him along the way, themes that were/are compelling (e.g. Web3) along the way, advice for others considering starting a podcast, and expanding the definition of entrepreneurship.

You can listen to the episode here: or click the link below to watch the interview.
Apple iTunes: https://lnkd.in/gHYFidM2

https://lnkd.in/g8FhsBqV

In this episode of Ventures, my guest Veronica Satastume (https://www.linkedin.com/in/veronicalsagastume/) from Episode 81 graciously offered to interview me...

05/01/2022

Startup Finance & Accounting 101: A crash course for founders :: with Veronica Sagastume
Tune in to this episode of Ventures, with Will Little and guest ME: Veronica Sagastume, where we talk about all-things startup finance and accounting.

From the perspective of what founders need to know, this episode ended up being a bit of a crash course for founders and much more!

If you click on the video, there are timestamps by topic if you'd like to skip ahead but this was one of my favorite podcasts where I get to geek out about all things accounting and start ups!

In this episode of Ventures, my guest Veronica Sagastume (https://www.linkedin.com/in/veronicalsagastume/) and I talk about all-things startup finance and ac...

07/19/2021

How to organize your business finances

Has the thought of organizing your finances as a startup make you feel anxious?

You are not alone! And although keeping your finances at bay might be dulling, you can implement these 3 tips to ease your financial anxiety:

➡️ Are you using the right accounting system? Bookkeeping really depends on the accounting system you’re using. If the one you’re using feels foreign to you, it is time to change it.

➡️ Schedule weekly to deal with your finances. If you’re constantly delaying your bookkeeping and other equally important financial tasks, you will find yourself in a little nightmare. Set aside some time every week to stay on top of your finances.

➡️ Outsource your bookkeeping. We know that as a startup, your resources might be limited. However, when you’re constantly DIYing your accounting (and hating it), you’re bound to make mistakes. Instead, get some help from an agency and forget about your misery 😉

07/14/2021

Start-ups don't want to pay more taxes, in fact, they would like to know how to pay less in taxes.

But when you’re doing it yourself, it can get messy – having to figure out everything by yourself, shortcuts, and tax exemptions. It can get overwhelming.

But the good news is that it is possible! And you can navigate the world of accounting AND save money.

There are many ways to save money or take advantage of tax credits or incentives:

For example:

R&D credits are ones that can be very impactful and save your start-up significant tax dollars.

One of the easiest ways to start off on the right foot is to have strong bookkeeping & accounting best practices.

What tax incentive or credit have you taken advantage of in 2020?

07/12/2021

The 6 numbers that you must know how to track in your business

A big money mistake in the life of a startup is not properly tracking the following numbers:
⁠
➡️ Income – the money your business generates from selling products and services.
➡️ Expenses – the amount it costs for you to stay in business daily.
➡️ Profit – the leftover money after the expenses are deducted from the income.
➡️ Tax – the amount of money you have to pay the government
➡️ Burn-rate – the rate at which your business uses up its cash
➡️ Trade debtors – the clients who still haven’t paid in full for your products or services

Essentially, these numbers tell you what makes money and what doesn’t⁠ in your business.

Remember that profitable and sustainable businesses are built off numbers. 😉

Are you tracking these numbers?

07/07/2021

We love working with the latest and greatest systems to automate, streamline and provide you with the best service tailored to your needs?

Our remote team specializes in many systems to ease your financial operations, such as:

- Quickbooks premier, or enterprise hosted in the cloud
- Bill.com
- Expensify
- Online Banking
- Dropbox, Box or GDrive
- Gusto Payroll
- Intuit Payroll
- Asana project management system

Do you have a system/tool/software you absolutely love? share it with us in the comments, we'd love to hear from you.

07/05/2021

The difference between DIY your finances and hiring an agency

When you’re essentially DIY your finances, you’re leaving a lot to the unknown. With lots of errors that might slip your mind and time wasted on fixing these mistakes, you can find yourself in a never-ending circle of trial and error. And while there is nothing wrong with doing all financial operations by yourself, there is the possibility of hiring an agency and saving time and even money!

When you hire a professional agency that does all the work for you, minimize the stress and rely on someone with experience. But you’re also investing in an updated system that will best suit your business.

06/30/2021

Pssst, how would you like to listen in on me getting coached on how to use LinkedIn for my accounting business. Well, if you're curious or been wondering how to use LinkedIn for business, then you can't afford to miss this episode.

Louise Brogan is an expert on all things LinkedIn and during this [OnAir] Coaching Podcast, I ask her a ton of questions about my Personal LinkedIn Profile and my newly created Business Page...

Click, listen and take action.
Then share with us: What tip did you like best?

On Air Coaching call with Veronica Sagastume - what do you post on LinkedIn, what difference is between your personal and page posts

06/30/2021

3 Signs your StartUp may be ready to outsource your in-house accounting tasks.

If you have been doing your accounting, bookkeeping, and operational tasks for a while now, you might have noticed how time-consuming it can get. And as a new StartUp business owner or CEO, time is of the essence – you need to work on the parts of your business that need your undivided attention and only YOU can do.

Here are 3 signs it may be time to get some help:

➡️ You’re constantly worried that you’re making mistakes or you’re messing up on important information
➡️ You’re having trouble navigating the technology needed for your accounting needs
➡️ Your time is getting much more scarce as your startup is starting to grow

If any of these sound just like your situation, then perhaps the best solution for you is to outsource this part of your business.

Do you have any more 'signs' to watch out for? let us know in the comments.

06/28/2021

As a new StartUp business, you may be doing your own accounting you're starting to see there are so many things that you need to know how to do. One of these things is budgeting!

Business budgeting is not much different from personal budgeting – you have money that you need to allocate in the smartest way possible.

And while every business has a different budget, here are the main ones that you need to keep track of:

➡️ Cash-flow budget – this is your prediction of how much money will go in and out of your business at the end of the period/
➡️ Operational budget – all expenses and revenues that your business needs to stay open
➡️ Financial budget – your balance sheet components such as assets, liabilities, and equity
➡️ Sales budget – this is your prediction of how much sales you’re going to make and what the expenses will be

Budgeting is not a breeze, especially when you’re just starting out but there are many tools available to help you out.

Start slow, keep it simple and work through the numbers...one budget at a time.

Have you started to think about creating a budget? Let us know in the comments, we'd love to hear about it.