17 - Accounting Made Easy

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By Jillian M Flodstrom and Jillian Flodstrom. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

Today's question is, when is the right time to choose accounting software? And when should you hire an accountant? And the answer is now. If you have not chosen accounting software or don’t have an accountant just yet, the time has come. In this week’s episode, Jill is digging into all things money management.

There are many things that can make your life easier as a small business owner. One of those all-important things is accounting software. Jill uses Quickbooks Online, which she has found smooths out the accounting process and makes the purchase-to-file pipeline easy. This program allows you to swipe through your transitions and file them into the appropriate category. Not only that, but Quickbooks will remember those transactions, so the next time they appear, they’ll be suggested for that same category. From there, you can do this work while the kids are at soccer practice, while you have a quick break, or while your car is in the shop.

Many business owners wait until the last moment to sort these transactions and will even file for an extension to file in October. Jill recommends breaking this habit by being honest with yourself and considering hiring an accountant. This vital addition to your team can save you time and effort, and generally will give you peace of mind that your transactions are sorted and your ducks are in a row when the time comes. Delaying this crucial step can, and will cost you money. When you wait, you forget. And when you forget, things slip through the cracks. This team member will help you sort and organize what you need when you need it. A

In addition to an accountant, a bookkeeper is an incredibly helpful person to bring on your team. This person is going to be SO helpful with keeping you in the loop with your finances. They can lift a huge, huge weight off your shoulders and can help you manage some of the things you dislike doing the most, things that take you the most time, and things that cause you frustration.

All in all, these three tools will be sure to smooth out your accounting process!

Key Takeaways:

  • Utilize online accounting software like Quickbooks to smooth out the accounting process and make the purchase-to-file pipeline easy. This program allows you to swipe through your transitions and file them into the appropriate category and remembers your transactions to make your accounting even more simple.
  • Consider hiring an accountant. This vital addition to your team can save you time and effort, and generally will give you peace of mind that your transactions are sorted and your ducks are in a row when the time comes. When you put this off, you wait. And when you wait, you forget. And when you forget, things slip through the cracks--money lost.
  • A Bookkeeper is an incredibly helpful addition to your team. This person is going to be SO helpful with keeping you in the loop with your finances. They can lift a huge, huge weight off your shoulders and can help you manage some of the things you dislike doing the most, things that take you the most time, and things that cause you frustration.

hijillian.com

30 episodes