Bookkeeping—it’s a term you’ve probably heard tossed around many times. But, do you really know why it’s so important for business owners? If you’ve ever wondered how to keep your finances in check, Episode 4 of my podcast with Sadie Fienberg, Those Gals at Work, is your go-to guide.
By the way, if you haven’t already, I invite you to tune into the podcast and join me (your money gal) and Sadie (your marketing gal), as we navigate entrepreneurship. From personal growth to business strategies, we cover it all. We understand the struggles of owning a business, paying ourselves what we’re worth, and serving our clients. Together, we are Those Gals at Work!
In Episode 4, I dive deep into the world of bookkeeping. Whether you’re a seasoned business owner or just starting out, the insights in this episode will help you understand the foundational role that bookkeeping plays in your business’s success.
Why Bookkeeping Matters
I kick things off in this episode by breaking down the importance of bookkeeping. It’s more than just saving receipts and tracking expenses—it’s about understanding the back end of your business. From managing cash flow to making informed decisions, solid bookkeeping practices are what keep your business running smoothly. I also break down the difference between bookkeepers and CPA’s, and how bookkeepers can help save you money.
Getting Started with Bookkeeping
Feeling overwhelmed by the thought of bookkeeping? You’re not alone. In the episode, I share my personal journey to becoming a bookkeeper (from meteorologist to property manager to bookkeeper) and also offer practical tips for those just getting started. We talk basics—like setting up a system that works for you (for example, QuickBooks Online) and staying consistent with your records. Plus, I share some common pitfalls to avoid, particularly for those who might be tempted to take the DIY route.
Why You Should Separate Personal and Business Finances
One of the key takeaways from this episode is the importance of separating your personal and business finances. Keeping these finances intertwined can lead to a host of problems, from confusing your financial records to potentially facing legal issues.
By maintaining clear boundaries between personal and business accounts, you streamline your bookkeeping. Additionally, you protect yourself from unnecessary risks. This separation helps you accurately track your business’s performance, makes tax time much smoother, and ensures that your financial picture is always crystal clear.
Connect With Us
Want more money management tips? Connect with me on Instagram or Facebook for ongoing advice and resources to keep your business finances on track.
And don’t forget to connect with Sadie, our “marketing gal,” who helps you get your message out there! Visit her website here and follow her on Instagram and Facebook.
While Those Gals at Work is currently on a break, Sadie and I will be back with Season 2 in October. Get ready for more episodes packed with valuable insights and real talk on navigating the ups and downs of entrepreneurship. Stay tuned!
