3 Ways to Save Receipts: My Good, Better, Best Approach
One of the best ways to protect yourself in the event of an audit is to save receipts & bills that show proof of what you’re spending money on.
bookkeeping tips
What is a Bookkeeping Reconciliation?
A bookkeeping reconciliation, or reconciliation for short, simply means that you are comparing 2 sets of financial records to make sure that they match.
Sales Tax Questions I Hear ALL the Time – Answered for You!
I hear a lot of similar sales tax questions ALL the time. Sales tax can be complicated – ESPECIALLY if you do any selling online.
And let’s be real…it’s 2024. Almost everyone sells something online.
How to Have Excellent Cash Management in Retail Stores
Good old paper money still plays a big role in your business. Managing it properly is key to keeping your finances in check and your stress levels low. Let’s dive into why it’s important and how to master it.
Calculating Your Break-Even Point: A Guide for Retail Boutiques
As a retail boutique owner, understanding your break-even point is crucial to ensure having the sales to cover your expenses. The break-even point is where your total revenue equals your total costs, meaning you’ve neither made a profit nor incurred a loss.
How to Record Business Expenses Paid with Personal Funds
Have you ever used personal funds for business expenses? It’s common for small business owners. Maintaining accurate records, creating a reimbursement form, and tracking reimbursements is key. Good bookkeeping practices provide valuable insights into your business’s financial health. Learn how to handle personal expenses with ease.
Understanding the Profit First System for Retail Businesses
I’m here to tell you how the Profit First system works, and how you can use it to help manage the cash in your retail business.
Understanding Inventory vs Cost of Goods Sold in Retail
Are you struggling to make sense of the finances in your product-based business? Does the concept of inventory vs cost of goods sold leave you feeling like your head is spinning in circles? Then, I’m glad you’re here!
My #1 Bookkeeping Tip to Simplify Your Boutique Bookkeeping
My #1 bookkeeping tip is NOT mixing business & personal funds in the same bank & credit card accounts is a recipe for disaster.
How to Record Your Shopify Payouts (No, It’s not all Sales)
Deposits from Shopify or any other payment processor are not just your “sales”. They can represent up to 6 separate bookkeeping items.