Is Bookkeeping Really Only Necessary at Tax Time?
Yes, bookkeeping is boring.
Yes, I'm going to talk about it.
No, it's not an utterly unspeakable topic. It's just most of the accounting kind of people are, well ... dry. I get it though. How else could someone describe a Profit & Loss statement? P&L's are only sexy if you're a numbers lover.
Most entrepreneurs only love numbers if they are the you-bring-in-boat-loads-of-money-and-should-spend-some-more numbers.
'Ahhh ... you mean REPORT numbers.'
Yep. Those. The one's that tell the encrypted story.
You see ... your numbers are like a 3-D storybook and bookkeepers, good ones, have the 3-D glasses you need to see the true depth of your business.
Otherwise, it just looks flat. Bank account says you have "this much", you decide you can spend "that much".
But that's not going to help you grow. And it's sure not going to help you at tax time.
If fact, that train of though costs you money.
I find it intriguing how often businesses "forget" to do their bookkeeping during the year and wait until tax time to start considering those expenses...not to mention the income.
Do you know how much you actually made this year? What has it cost you to make that much?
That pile of receipts, or hand written paper log in the notebook, could tell you but you're going to spend so.much.time trying to make sense of them.
Why do you do that?
Often times it's the fear of the unknown.
Bookkeeping does seem daunting doesn't it? Yes, scary even.
You can pay someone else to do it? Sweet. Even if you are in a position to hire out your bookkeeping, it's best YOU know what you are looking at so YOU can still be in-the-know.
You follow me?
Bookkeeping is not just necessary only at tax time, it's necessary throughout the year. We live in a much more efficient world now where you can easily get it done, or have it done for you.
If we choose to run our business efficiently.
So please, make sure you are not only efficient in your awesome business venture, but efficient in keeping your finances too.
That includes your bookkeeping. It's simple really.
Take those rose colored specs off your face and know what your biz is looking like with 3-D glasses on.
Hey ... if you want to know more about how simple it really is, let me show you. Since soft launching the StartUP Academy membership, I am offering a launch special price of $59/month for life of the membership...INCLUDING your Quickbooks Online subscription. Click here to learn more.
Not ready to implement a bookkeeping program? That's ok! Sign up to get email tips and reminders to be streamlined and ready, each month, so you don't have a pile of who-knows-what at the end of the year. I'll show you. Check it out here...