Bookkeeping 101: Roadmap for Entrepreneurs!
This conversation provides a bookkeeping 101 guide for entrepreneurs, covering topics such as opening a QuickBooks Online account, categorizing expenses, the importance of clean books, and the role of bookkeepers in cash flow prognostication. It also discusses the benefits of hiring a bookkeeper, the considerations for selling a business, and the importance of clean books for asset protection and maximizing the value of a business.
The conversation concludes with an offer for a free asset protection consultation and a copy of the book "The Entrepreneur's Manifesto".
Takeaways
• Opening a QuickBooks Online account is a good starting point for entrepreneurs to keep their books organized.
• Categorizing expenses accurately is crucial for tracking spending and determining the rate of return on investments.
• Hiring a bookkeeper can help entrepreneurs maintain clean and efficient books, allowing for better tax planning and cash flow management.
• Having clean books is essential for asset protection and maximizing the value of a business when selling.
• Entrepreneurs should consider getting a second set of eyes on their books to ensure accuracy and compliance.
Sound Bites
• The only way of doing that is if I have clean books, if they're well categorized, then I can figure out if I'm spending them in the right place, the wrong place and see what my overall rate of return is for that investment.
• It gets way too messy to have them in the same.
• Deciding whether you're gonna continue doing them or if you're gonna pay a bookkeeper going forward to do them monthly to keep them nice and pretty.
If you have any questions in general you can reach our office at:
Phone: 415-212-8189
Email: [email protected]
Monday-Thursday 8:00 AM – 5:00 PM (Pacific)
Thank you for listening!
