When you picked up your first camera and dreamed of becoming a professional photographer, you were probably thinking about capturing memorable moments—not categorizing business expenses (or wondering what even qualifies as a business expense).  Creating stunning portraits? Absolutely. Reconciling bank statements? Not really. But, here’s the reality: no matter how much you’d rather be behind […]

In just the past few years, more and more payment options have appeared for goods and services. And while PayPal was launched in 1998 (giving it almost 30 years in action), other platforms are just starting to build a name for themselves in business. Some of which are apps like Cash App, and the star […]

One of the most important, yet often overlooked, aspects of bookkeeping for a small business is reconciling your accounts. Whether it’s your business bank accounts, credit cards, or your balance sheet, it’s a task that doesn’t often end up on your to-do list.  But while you’re familiar with bank (and credit) account reconciliation, there’s one […]

When you’re DIY-ing your bookkeeping and finances, your to-do list is already a mile long, but I promise that balance sheet reconciliation should be pretty high up there!  Balance sheet reconciliation is when you compare the information on your balance sheet with the sources (such as bank statements, ledgers, third-party accounts, etc). The goal is […]

Whether you’re a coach, service provider, creative business owner, or somewhere in between, there’s one thing every business owner should do regularly: reconcile your bank account(s) at every month’s end. When you reconcile your business bank accounts, you’re essentially comparing the two different data sets (your bank account and your bookkeeping software) to ensure that […]

It may not be your favorite to-do in your business, but keeping up with your monthly, quarterly, and yearly bookkeeping is necessary for any small business. We’ve covered some of the best habits to have for your general bookkeeping, but what about your quarterly bookkeeping?  Your quarterly bookkeeping to-do list isn’t as tedious as your […]

One of the first things you should do as a service provider is set up a separate bank account for your business—specifically, a business bank account.  A business bank account protects you legally and financially by separating your business and personal funds. It’s easier to track your deposits, pay contractors, and mark expenses as business […]

Bookkeeping is a service that is often underestimated by business owners—you know it’s important, but you don’t know exactly why or how. Sure, you’re “keeping your books organized,” but what does that mean—and how does that help you? As a business owner, bookkeeping is one of the on-going investments you’ll often be recommended to do […]

AKA the profit and loss statement, meant to provide an overview of your revenue. Your income statement is used to assess your company’s financial performance, identify trends, and make informed decisions. It provides a comprehensive overview of a company’s financial health and is essential for successful business operations. #2. Cash Flow Statement Your cash flow […]

There’s a common misconception that because of the financial responsibilities of a bookkeeper, there’s an equal amount of legal responsibility—and while there IS a legal obligation, it’s likely not what would you expect. Most of this comes from being unsure of what a bookkeeper does for your business, but it also stems from both finances […]