Business Structure Guidance Series: FINANCIALS + BOOKKEEPING
We are excited to start a series sharing business structures and practice we implement in our own business in hopes of facilitating dialogue with this creative, conscious community of entrepreneurs. If inspired, please comment with any questions or additional advice you would like to share on the topic. After each post we will write a blog post featuring your advice and website.
When you know you are ready to start working with a bookkeeper:
You are ready to start working with a bookkeeper as soon as you can afford one!
We suggest you have an initial consultation with someone before deciding to hire them. Seek someone that cares about your business and is willing to answer questions.
Given the nature of modern business, you can work with a bookkeeper that lives in a different area – just keep in mind that each State has its own tax law to be taken into consideration.
Our bookkeeper uses Quickbooks online which we also have access to. We are in charge of entering invoices, noting when payments are received, keeping track of our check details. Our bookkeeper has access to our deposited checks (via online banking) receipts (via a shared Dropbox folder), and to our online banking, PayPal, Square, Etsy, etc. so she is able to gather all of the data she needs when doing the monthly books.
Our bookkeeper is Katrina, and her company is oaktreeowlbookkeeping.com.
How has your business changed since hiring a bookkeeper? What is your top financial or bookkeeping tip?
Additional Advice: “Be realistic. Better to have small bite sized consistent baby steps you’ll really do rather than a grand scheme you don’t follow through on.” ~ Melissa Balmer of Pedal Love
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