Yeah, I get it…dealing with bookkeeping is likely your least favorite part of running your business, especially if you’re a creative type, like me.
The good news is, you don’t have to be your own bookkeeper in order to be empowered with money in this area of your business.
What you DO need are a few simple systems that will keep you on track and in control of your money, even if you’re just getting your business started.
For starters, understand that there are 3 critical aspects that come into play any time you’re discussing, managing, planning or making money.
- First, there is the practical aspect: this is where you have simple steps to follow so you know you’re being a wise woman when it comes to money.
- Second, there is the emotional aspect: this is you being aware and getting coaching to transform any negative emotions attached to being an empowered, money-making woman entrepreneur. Your goal here is to replace those feelings with positive emotions that support your success, with feminine grace and ease.
- Third, there is the energetic aspect: think of this as your “money dna”, where you discover and stay connected to why you being amazingly successful means you are fulfilling your divine purpose that spirit intends for you.
Okay, so back to bookkeeping…
I use really simple systems in my business to keep my books in great shape and me in the driver’s seat of my cash flow…without me trying to become a bookkeeper (I think I would cry if I had to do that)!
And surprisingly, even though the topic of “bookkeeping” sounds like it’s all about the practical, it can stir up emotional and energetic issues as well.
So here is a sampling of my favorite tips on how to manage your books like a pro, no matter what stage of your business you’re in. Use these tips and you’ll have no problem staying on track, feeling positive and empowered, and feeling rock-solidly connected to the mission and purpose of your business.
Tip #1 –My Favorite Way Of Handling All Business Receipts
I have one folder I tuck all my receipts into. As I put the receipt into the folder I make a note at the top as to the category it should go under in Quick Books. For example, “marketing”, “education and mentoring”, “printing”, etc.
On bookkeeping day, my bookkeeper comes to my house, pulls out that one folder and enters all of the receipts into Quick Books. She finishes her session by backing up the computer and by filing the receipts into folders, A-Z, alphabetically by vender name.
Me? I do nothing!
(If your bookkeeper isn’t local, you can pop those receipts into an envelope and mail them to her. When she’s done entering them she can alphabetize them, then mail back to you. All you’ll need to do is tuck them into their alphabetically arranged folders.)
Tip #2 – My Favorite Way Of Staying Current With Your Bookkeeping
I recommend establishing a “bookkeeping day”. Stick to the same day each week (mine is Thursday). This is the day your bookkeeper does her work for you, that you mail anything needing to go out, it’s when bills are paid and when you make banking/money decisions.
Sticking to this schedule ensures YOU stay on top of your money and it strengthens your money-handling skills. You’ll be amazed at how in control and savvy you feel as a result of this simple tip!
Tip #3 – My Favorite Way Of Delegating Money Tasks To My Bookkeeper, Without Giving Away My Power
My first bookkeeper use to curse with angry heat at the computer and complain about doing key tasks. She also ran late getting reports to me and gave me the feeling that every time I asked a question I was treading on her territory. Seriously? The last thing I wanted was someone with negative, crabby energy handling my money so I quickly fired her!
Now, my bookkeeper Joni and I have a blast working together (she’s been with me nearly 8 years and works with several of my coaching clients as well).
I recommend asking your bookkeeper to type up a schedule for you of when she is going to accomplish certain tasks each week and/or month. For example: balancing your checkbook, paying taxes, making deposits, paying bills, transferring money between accounts, supplying you with a detailed report of your income and expenses (called a “profit and loss” report), paying affiliate commissions, etc.
I approve the schedule and if anything is not delivered on time, I ask about it immediately. What matters here is YOU setting the tone that your bookkeeper works for YOU (not the other way around), that YOU are paying attention to your money, and that YOU expect to be respected.
As I am now famous for saying: Money loves to be paid attention to…
…and it will always get you attention, positively or negatively. By following these tips you’ll be paying positive attention to money. And, you’ll soon see the rewards of greater confidence, clarity and cash flow!