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Should I be doing my own bookkeeping and accounting? Is QuickBooks the best software for me to use in my business, or is there another accounting software I should be using? What’s the best way for me to process my payroll? How can I track my money and cash flow? How do I prepare for my business taxes? What do my financial statements really mean? How can I bring my business to the next level? How can I grow my business? What is the best way to create my business strategy? Should I start a side hustle? How can I add bookkeeping as an additional service as a Virtual Assistant? How can I start an online virtual bookkeeping business? And most importantly, how do I manage my small business finances? Welcome to Mastering Your Small Business Finances where we get straight to the point and answer all these questions and more. Each episode is designed for you to take IMMEDIATE ACTION in your business so that you, as a busy entrepreneur, can gain the CONFIDENCE and CLARITY you need to make a successful impact on your business and GROW YOUR BOTTOM LINE. Each week, host Chris Panek, Certified Public Accountant, Business Strategist and Business Coach, breaks down topics like finances, entrepreneurship, money management, leadership, bookkeeping, tax deductions, growth, side hustle, marketing, mindset and motivation into simple JARGON-FREE episodes. One of her strengths is helping small business owners navigate and really understand these complicated topics for over 25 years. Whether you are just starting your business or have an established business, you are in the right place. If you are a bookkeeper or virtual assistant who wants to learn more about business finances to start, grow or scale your bookkeeping business, you too will benefit from this podcast. Ready to Master Your Small Business Finances? Listen in ~ your time will be well spent here! This podcast is sponsored by Financial Adventure. Visit www.FinancialAdventure.com for additional information and free resources.
Episodes
Wednesday Aug 11, 2021
Wednesday Aug 11, 2021
When most business owner are asked what their accountant or bookkeeper helps them with, you’ll most likely hear that they do their financial statements, which includes their balance sheet and income statement or profit and loss report, and they probably file their tax returns for them. Most accountants, bookkeepers, CPAs (Certified Public Accountant) and Virtual CFOs provide way more services than this. Knowing what additional services your accountant or bookkeeper can perform for you could help your business grow and alleviate the stress you encounter when you try to do it yourself. When your accountant or bookkeeper provides additional advisory services, they are available if you have a situation that comes up in your business you are unfamiliar with and need professional advice. Accountants and bookkeepers work with a variety of businesses, and this provides a great deal of knowledge and experience with past business situations. They not only have these experiences under their belts, but they can then tie in your financial information and really collaborate with you to make sure your business goals are met, or even exceeded. In today’s episode, I am going to go over a few of the most popular advisory services your accountant or bookkeeper can help you with in your business whether you are just getting ready to start your small business, you’re a solopreneur, entrepreneur, small business owner, virtual online bookkeeper or virtual assistant knowing you have these additional advisory services available to you can help you manage your business when you feel like you are struggling and all alone, not to mention the headaches and stress they can help you avoid…
Fill out the Contact Us form if you have a question or need help with your bookkeeping:
www.FinancialAdventure.com/Contact-Us
Grab Your FREE guide: 5 Essential Strategies For Stress-Free Bookkeeping:
www.FinancialAdventure.com/5Essentials
Enrollment Is Open For My Elevate Your Bookkeeping Business Framework. If You Want To Create A Profitable Bookkeeping Business (Or Improve Your Existing Bookkeeping Business), Register Here:
www.FinancialAdventure.com/MasterClassRegistration
Your FREE Online Virtual Bookkeeping Business Starter Guide & Success Path is waiting for you:
www.FinancialAdventure.com/StarterGuide
Sign up for a quick chat to see if starting a Virtual Online Bookkeeping Business is right for you:
www.FinancialAdventure.com/Discovery
Join Our Facebook Community: www.Facebook.com/Groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique
QuickBooks Online - Save 50% Your First 3 Months:
www.FinancialAdventure.com/QuickBooks
Show Notes: www.FinancialAdventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources.
Wednesday Aug 04, 2021
Wednesday Aug 04, 2021
Businesses have been dealing with customers not paying their invoices over the years, but the pandemic has heightened the average number of customers who are not paying their invoices on time, and this is putting additional stress on business owners like you. As a business owner, you know that you need to receive payment on your customer’s invoices to continue to have the cash flow you need for your business to survive. Do you have any customer invoices that you are still waiting to collect payment on, or are you one of those business owners who have been lucky enough so far in your business that you have been able to receive payments on all your invoices? If you have invoices that have been unpaid or are overdue, collecting on these accounts receivable amounts are very important for you. Make sure you track and ensure you are still collecting on money that is due to your business. In today’s episode, I am going to talk about how you can manage your customer invoices as well as the best practices to ensure you are receiving payments on time while you are using either a manual or computerized software system like QuickBooks. You may not even believe what the top reasons are that most customers have to say about not paying invoices and the simple steps you can take to get those payments on time. Whether you are getting ready to start your small business, you’re a solopreneur, entrepreneur, small business owner, virtual online bookkeeper, or virtual assistant you are going to want to listen in to today’s episode so that you stay on top of your accounts receivable game. I even have tips for you about how you can eliminate the stress of tracking and receiving payments from your customers in the first place…
Fill out the Contact Us form if you have a question or need help with your bookkeeping:
www.FinancialAdventure.com/Contact-Us
Grab Your FREE guide: 5 Essential Strategies For Stress-Free Bookkeeping:
www.FinancialAdventure.com/5Essentials
Enrollment Is Open For My Elevate Your Bookkeeping Business Framework. If You Want To Create A Profitable Bookkeeping Business (Or Improve Your Existing Bookkeeping Business), Register Here:
www.FinancialAdventure.com/MasterClassRegistration
Your FREE Online Virtual Bookkeeping Business Starter Guide is waiting for you:
www.FinancialAdventure.com/StarterGuide
Sign up for a quick chat to see if starting a Virtual Online Bookkeeping Business is right for you:
www.FinancialAdventure.com/Discovery
Join Our Facebook Community: www.Facebook.com/Groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique
QuickBooks Online - Save 50% Your First 3 Months:
www.FinancialAdventure.com/QuickBooks
Show Notes: www.FinancialAdventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources.
Wednesday Jul 28, 2021
Wednesday Jul 28, 2021
The excitement of starting a small business can fuel the flame for your business for quite a while, but when you stop taking care of yourself and let your business pull you in various directions, burnout can start to set in, and you may find the passion you once had for your business start to smolder. You want to be proactive in this area so that you don’t find yourself with these feelings of burnout and potentially wanting to walk away from your business after you have put so much effort into getting it up and running. After all, you had a good reason that you wanted to start your business in the first place, right? Avoiding burnout can be done easily if you follow the tips referenced in today’s podcast. Each tip will help make sure you stay passionate about your business which will allow your business to thrive and survive. Whether you are getting ready to start your small business, you’re a solopreneur, entrepreneur, small business owner, virtual online bookkeeper or virtual assistant make sure you take these tips to heart. Burnout can happen easily and could happen at any time while starting or running your business. Being aware of what causes burnout and what you can do to avoid it will not only benefit you, but your business will reap the benefits as well. Listen in and find out what you can do to avoid burnout in your business…
Fill out the Contact Us form if you have a question or need help with your bookkeeping:
www.FinancialAdventure.com/Contact-Us
Grab Your FREE guide: 5 Essential Strategies For Stress-Free Bookkeeping:
www.FinancialAdventure.com/5Essentials
Enrollment Is Open For My Elevate Your Bookkeeping Business Framework. If You Want To Create A Profitable Bookkeeping Business (Or Improve Your Existing Bookkeeping Business), Register Here:
www.FinancialAdventure.com/MasterClassRegistration
Your FREE Online Virtual Bookkeeping Business Starter Guide is waiting for you:
www.FinancialAdventure.com/StarterGuide
Sign up for a quick chat to see if starting a Virtual Online Bookkeeping Business is right for you:
www.FinancialAdventure.com/Discovery
Join Our Facebook Community: www.Facebook.com/Groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique
QuickBooks Online - Save 50% Your First 3 Months:
www.FinancialAdventure.com/QuickBooks
Show Notes: www.FinancialAdventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources.
Wednesday Jul 21, 2021
Wednesday Jul 21, 2021
If your business involves selling items on amazon, eBay or your business accepts payments from credit cards, debit cards, or other third-party processors, you will more than likely receive a Form 1099K. Knowing what this form is and how it will impact your business is important to know. The rules for the 1099K are changing in 2022 and understanding these new rules as well as the impact it will have in your business is important. In today’s episode, I will be going over what all the hype is regarding the 1099K form so that you know exactly what to expect in the coming year and how it may impact your income tax return. I’ll even be covering what the difference is between the 1099 MISC, 1099 NEC and the 1099K so there is no confusion between the three of these forms. This episode is going to be helpful for you whether you are getting ready to start your small business, you’re a solopreneur, entrepreneur, small business owner, virtual online bookkeeper or virtual assistant and you accept any payments via credit card or debit card…
Grab Your FREE guide: 5 Essential Strategies For Stress-Free Bookkeeping:
www.FinancialAdventure.com/5Essentials
Enrollment Is Open For My Elevate Your Bookkeeping Business Framework. If You Want To Create A Profitable Bookkeeping Business (Or Improve Your Existing Bookkeeping Business), Register Here:
www.FinancialAdventure.com/MasterClassRegistration
Your FREE Online Virtual Bookkeeping Business Starter Guide is waiting for you:
www.FinancialAdventure.com/StarterGuide
Fill out the Contact Us form if you have a question or need help with your bookkeeping:
www.FinancialAdventure.com/Contact-Us
Sign up for a quick chat to see if starting a Virtual Online Bookkeeping Business is right for you:
www.FinancialAdventure.com/Discovery
Join Our Facebook Community: www.Facebook.com/Groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique
QuickBooks Online - Save 50% Your First 3 Months:
www.FinancialAdventure.com/QuickBooks
Show Notes: www.FinancialAdventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources.
Wednesday Jul 14, 2021
Wednesday Jul 14, 2021
Recording credit card transactions in either QuickBooks Desktop or QuickBooks Online is pretty easy to do as long as you have the correct procedures in place to do it accurately. Over the years, I have seen many different ways businesses have recorded their transactions and how quickly their financial reports can reflect inaccurate data. Most times when I walk them through the correct way to record these transactions, they are amazed at how simple and accurate it can be. In today’s episode, I am going to walk you through one of the best processes for recording your credit card transactions and making payments in your QuickBooks file all the way through saving your receipts and reconciling your credit card statement to ensure you have all your transactions accounted for. I am going to also mention a few of the ways that I have seen businesses record their transactions so that you can see if you would benefit from this new process in your business. Listen in today if you are tired of struggling to record your credit card transactions and you are looking for a solution to make it simple and accurate. This episode is perfect for you if you are if you are getting ready to start your small business, you’re a solopreneur, entrepreneur, small business owner, virtual online bookkeeper or virtual assistant and you are either looking into or already using QuickBooks Desktop or QuickBooks Online…
Grab Your FREE guide: 5 Essential Strategies For Stress-Free Bookkeeping:
www.FinancialAdventure.com/5Essentials
Enrollment Is Open For My Elevate Your Bookkeeping Business Framework. If You Want To Create A Profitable Bookkeeping Business (Or Improve Your Existing Bookkeeping Business), Register Here:
www.FinancialAdventure.com/MasterClassRegistration
Your FREE Online Virtual Bookkeeping Business Starter Guide is waiting for you:
www.FinancialAdventure.com/StarterGuide
Fill out the Contact Us form if you have a question or need help with your bookkeeping:
www.FinancialAdventure.com/Contact-Us
Sign up for a quick chat to see if starting a Virtual Online Bookkeeping Business is right for you:
www.FinancialAdventure.com/Discovery
Join Our Facebook Community: www.Facebook.com/Groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique
QuickBooks Online - Save 50% Your First 3 Months:
www.FinancialAdventure.com/QuickBooks
Show Notes: www.FinancialAdventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources.
Wednesday Jul 07, 2021
Wednesday Jul 07, 2021
One of the questions I receive from clients is how to transfer funds in QuickBooks Desktop and QuickBooks Online. Both have an extremely simple way to do this, but if you are unsure about how to do it, or you do it incorrectly, you could be causing your balance sheet and your income statement to reflect the wrong information. Recording all your transactions is important to make sure your bank reconciliation goes smoothly. Making sure each of these transactions are classified to the correct account will not only ensure your transactions are showing up in the correct accounts, but it will also make sure that your balance sheet and your income statement are accurate. You don’t want to overstate your income by recording a transaction that should have been a simple transfer from one account to another. Today I am going to talk about how easily you can transfer your funds with one simple entry. Listen in to this week’s episode if you are getting ready to start your small business, you’re a solopreneur, entrepreneur, small business owner, virtual online bookkeeper or virtual assistant and you are either looking into or already using QuickBooks Desktop or QuickBooks Online to make sure you are using this simple and effective way to easily transfer funds between accounts…
Grab Your FREE guide: 5 Essential Strategies For Stress-Free Bookkeeping:
www.FinancialAdventure.com/5Essentials
Enrollment Is Open For My Elevate Your Bookkeeping Business Framework. If You Want To Create A Profitable Bookkeeping Business (Or Improve Your Existing Bookkeeping Business), Register Here:
www.FinancialAdventure.com/MasterClassRegistration
Your FREE Online Virtual Bookkeeping Business Starter Guide is waiting for you:
www.FinancialAdventure.com/StarterGuide
Fill out the Contact Us form if you are a small business owner looking for a qualified bookkeeper:
www.FinancialAdventure.com/Contact-Us
Sign up for a quick chat to see if starting a Virtual Online Bookkeeping Business is right for you:
www.FinancialAdventure.com/Discovery
Join Our Facebook Community: www.Facebook.com/Groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique
QuickBooks Online - Save 50% Your First 3 Months:
www.FinancialAdventure.com/QuickBooks
Show Notes: www.FinancialAdventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources.
Wednesday Jun 30, 2021
Wednesday Jun 30, 2021
The excitement of starting your very own business and the beliefs of your success are high when you are first starting your business. You think about what you want to sell, how you will sell it, the marketing and just how much your business is needed in the marketplace. You might have started an online business, you could be a course creator, you may have decided to be a small business coach, life coach, virtual assistant, bookkeeper, podcast manager or other service based or product based business. Whatever the business you started, you were pumped and had no reason to doubt that your business will be anything but a big success. But then something doesn’t go the way you originally planned, and you begin to doubt if your business will be successful. You wonder if you made a big mistake, or you may have self-doubt kicking in and you wonder if you are even the right person to have started this business in the first place. We’ve all been there, but how do you keep up your positivity and belief that your business will be successful when you start having these doubts? In today’s episode, I am talking about what can happen when you have these doubts and what you can do to continue to not only believe in the success of your business but believe in yourself as well. I want to make sure that you continue to hold on to that excitement you once had for your business and what you can do each and every day to make sure you don’t lose that insight. Listen in to today’s episode, especially if you are getting ready to start your small business, you’re a solopreneur, entrepreneur, small business owner, virtual online bookkeeper or virtual assistant, and make sure you are following these important steps to ensure the continued success of your small business…
Enrollment Is Open For My Elevate Your Bookkeeping Business Framework. If You Want To Create A Profitable Bookkeeping Business (Or Improve Your Existing Bookkeeping Business), Register Here:
www.FinancialAdventure.com/MasterClassRegistration
Grab Your FREE guide: 5 Essential Strategies For Stress-Free Bookkeeping:
www.FinancialAdventure.com/5Essentials
Your FREE Online Virtual Bookkeeping Business Starter Guide is waiting for you:
www.FinancialAdventure.com/StarterGuide
Fill out the Contact Us form if you are a small business owner looking for a qualified bookkeeper:
www.FinancialAdventure.com/Contact-Us
Sign up for a quick chat to see if starting a Virtual Online Bookkeeping Business is right for you:
www.FinancialAdventure.com/Discovery
Join Our Facebook Community: www.Facebook.com/Groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique
QuickBooks Online - Save 50% Your First 3 Months:
www.FinancialAdventure.com/QuickBooks
Show Notes: www.FinancialAdventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources.
Wednesday Jun 23, 2021
Wednesday Jun 23, 2021
When you think about a paperless business, does this sound like a dream come true, or do you view it more as a nightmare? There are many businesses that don’t even offer a paper receipt anymore. So, when you don’t have a receipt, how are you supposed to even manage it? My clients will ask me about the best way to manage their business receipts, and unfortunately, my answer is normally: It depends. I know this isn’t a good answer, and it surely isn’t what the client wants to hear, but the main reason for the unclear answer really is because every business is unique, and every business owner is unique. I always talk to my clients to see what the best option is for them. I want to make sure the option they select is something they are able to do, and they are consistent. Your overall goal when setting up a system to manage your receipts should be to make it as simple as possible while developing a system where you will be able to find your receipts when needed. Today I am going to talk about the best ways to manage your receipts using paper and paperless options whether you are using a software like QuickBooks or Xero or you do your bookkeeping manually. If you feel like this is an area in your business where you struggle to have a good system in place, or if you already have a system in place, but wonder if there is an easier way to manage your receipts, you definitely want to listen in. This episode will be helpful for you whether you are just starting your small business, you’re a solopreneur, entrepreneur, small business owner, virtual online bookkeeper, virtual assistant or VA. Every business has receipts they need to manage, and after this episode, you will be able to decide which system will work best for you to be able to locate your receipts easily when you need to…
Want To Create A Profitable Bookkeeping Business (Or Improve Your Existing Bookkeeping Business), Check Out My Elevate Your Bookkeeping Business Program:
www.FinancialAdventure.com/Elevate-Waitlist
Grab Your FREE guide: 5 Essential Strategies For Stress-Free Bookkeeping:
www.FinancialAdventure.com/5Essentials
Your FREE Online Virtual Bookkeeping Business Starter Guide is waiting for you:
www.FinancialAdventure.com/StarterGuide
Fill out the Contact Us form if you are a small business owner looking for a qualified bookkeeper:
www.FinancialAdventure.com/Contact-Us
Sign up for a quick chat to see if starting a Virtual Online Bookkeeping Business is right for you:
www.FinancialAdventure.com/Discovery
Join Our Facebook Community: www.Facebook.com/Groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique
QuickBooks Online - Save 50% Your First 3 Months:
www.FinancialAdventure.com/QuickBooks
Show Notes: www.FinancialAdventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources.
Tuesday Jun 15, 2021
Tuesday Jun 15, 2021
As a business owner, you work hard day after day and put in long hours to reach your goals and milestones, but once you have finally reached your milestones, what should you do? Do you just push forward to reach yet another milestone, or do you actually take the time to pause, celebrate and reward yourself and your team if you have one for a job well done? When you are just starting your business, there are many milestones you reach and they can sometimes happen fairly quickly, but if you are so busy working toward your next milestone it is easy to miss those celebrations. I want to make sure you are celebrating your milestones in your business, and I personally have a milestone I am going to celebrate with you today, and to celebrate, I have an opportunity for you…but I’ll talk more about that a little later. I’m also going to talk about what milestones are and what you should be keeping track of so that you know exactly when you have reached a milestone, as well as how to make an impact when you are celebrating your milestones. So, whether you are just starting your small business, you’re a solopreneur, entrepreneur, small business owner, virtual online bookkeeper or virtual assistant, you’ll want to listen in to this episode and make sure you don’t let these important milestones in your life and business slip by unnoticed and without a proper celebration…
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Want To Create A Profitable Bookkeeping Business (Or Improve Your Existing Bookkeeping Business), Check Out My Elevate Your Bookkeeping Business Program:
www.FinancialAdventure.com/Elevate-Waitlist
Grab Your FREE guide: 5 Essential Strategies For Stress-Free Bookkeeping:
www.FinancialAdventure.com/5Essentials
Your FREE Online Virtual Bookkeeping Business Starter Guide is waiting for you:
www.FinancialAdventure.com/StarterGuide
Fill out the Contact Us form if you are a small business owner looking for a qualified bookkeeper:
www.FinancialAdventure.com/Contact-Us
Sign up for a quick chat to see if starting a Virtual Online Bookkeeping Business is right for you:
www.FinancialAdventure.com/Discovery
Join Our Facebook Community: www.Facebook.com/Groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique
QuickBooks Online - Save 50% Your First 3 Months:
www.FinancialAdventure.com/QuickBooks
Show Notes: www.FinancialAdventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources.
Wednesday Jun 09, 2021
Wednesday Jun 09, 2021
Automating your transactions is one of the major ways you can save time when you are doing your bookkeeping. By utilizing systems such as QuickBooks Online’s bank feeds, you can definitely save a lot of time rather than manually entering each and every transaction, but the only way you will ensure you have reliable financial statements ( Balance Sheet and Profit & Loss or Income Statement ) is to make sure you have it set up correctly. I’ve seen clients who have set up bank feeds and not follow the correct steps who look at their financial statements and wonder why nothing looks right. This is exactly what happens when you hear the phrase garbage in / garbage out. If you don’t take the time to set everything up correctly in the beginning, you won’t be able to rely on your financial statements. You don’t want to find yourself putting in all the work only to have inaccurate information. In today’s episode, I am going to walk you through how you should set up and use the bank feeds in QuickBooks Online to ensure you are using it to its fullest potential. By setting up your bank account connection, managing bank rules, matching transactions and adding transactions correctly in QuickBooks Online, you will surely not only save time, but you will have reliable financial statements allowing you to make smart business decisions. If you already use bank feeds or if you have been thinking about getting them set up, but are unsure how to use this function correctly, listen in to find out what your next steps should be to take full advantage of this feature, whether you are just starting your small business, you’re a solopreneur, entrepreneur, small business owner, virtual online bookkeeper or virtual assistant…
Want To Create A Profitable Bookkeeping Business (Or Improve Your Existing Bookkeeping Business), Check Out My Elevate Your Bookkeeping Business Program:
www.FinancialAdventure.com/Elevate-Waitlist
Grab Your FREE guide: 5 Essential Strategies For Stress-Free Bookkeeping:
www.FinancialAdventure.com/5Essentials
Your FREE Online Virtual Bookkeeping Business Starter Guide is waiting for you:
www.FinancialAdventure.com/StarterGuide
Fill out the Contact Us form if you are a small business owner looking for a qualified bookkeeper:
www.FinancialAdventure.com/Contact-Us
Sign up for a quick chat to see if starting a Virtual Online Bookkeeping Business is right for you:
www.FinancialAdventure.com/Discovery
Join Our Facebook Community: www.Facebook.com/Groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique
QuickBooks Online - Save 50% Your First 3 Months:
www.FinancialAdventure.com/QuickBooks
Show Notes: www.FinancialAdventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources.