The Ultimate Bookkeeping Catch Up Plan

The Ultimate Bookkeeping Catch Up Plan

 

Are you ready to get your taxes done and stay on top of your money?  I love this strategy for tons of reasons, including because it will help you feel back in control and excited about your business again!

 

Use this handy plan to help you get out of a pickle as you work through each of the steps.  You’ll be then well on your way to better small business money management.

 

Step 1 : Determine which bills and receipts are business related.

 

Some expenses will related to your business and you personally, especially if you’re hustling from home. If you’ve got a home based business you maybe able to claim home office expenses such as heating, power, internet, phone & office furniture as a business deduction. Stay on the safe side and have this information available so your accountant can decide if you are entitled to claim those as a deduction.  The portion of those expenses that were for private use are not a business deduction.

 

Step 2 : Have a digital copy of your business bank account exported from your internet banking so you can make notes against each transaction. Even better, upload your business bank account into accounting software like Xero, so you can categorise your transactions faster.

 

Step 3:  Invoice all your customers you’ve done work for. To keep your cash flow regular you’ll need to regularly invoice your customers for the work you’ve done for them.  Take your cash flow to the next level and design a subscription model for repeating regular income paid by direct deposit.

 

Step 4 : Gather supplier invoices, both paid and unpaid.  At the end of each week, fortnight, month you’ll want to know which bills you’ve paid and which are unpaid. Pay the oldest ones first to keep your suppliers happy.  Use a cloud system like Receipt Bank if you’re not coping with the volume of bills in your inbox.

 

Step 5:  Mark off the paid supplier invoices against your business bank account.

Have a system for knowing when you have paid your bills. Go old school and write PAID on your hard copy bills or go paperless and store an image of your bills inside Xero cloud accounting software.  This helps reduce paying bills twice and missing unpaid bills.

 

Step 6: Mark off your paid customer invoices against your business bank account.  Once your customers pay you have a system for recording their payment on the bank statement. You could print a hard copy invoice and simply stamp it PAID or you can use cloud digital invoices, like I use in Xero to help you get paid online in just a few clicks.  Your customers will love how easy it is to pay you direct from their inbox using their plastic.

 

Step 7: Ask for help friend! Let’s design a simpler routine.  Today we’re truly the blessed generations who’ve been gifted the internet and the affordable cloud tools. They’re easy and fast to setup plus they’re the cream on the ultimate sundae that is your business.  Make time for the important stuff in life with simple systems and cloud tools.

How to Work Less and Earn More

You can learn to work less and earn more. All it takes are simple routines, cloud tools, a sprinkle of grit and producing rather than being just busy.

Real Talk: Give yourself a set time to actually produce an outcome. Don’t just flutter around being busy. Busy doesn’t equal profit.

Actually have a result each day from your time.  It sounds simple but millions of people still spend 8 hours a day producing nothing.

We’re an online school for busy entrepreneurs who’ve got tons of life to live and want results fast.  Our youth is for travel not our 70s.  Our time is for our family, friends and health not for catching up on taxes!

My vision for you is a lifestyle friendly business that enables you the freedom to do what you want when you want.

I created these courses and free resources so every woman can have her own bank account and know how to make money doing fun stuff.  Whether that’s selling retail, consulting, coaching, speaking, painting, cooking, healing the tools and the money systems all start with the finance essentials I’m here to teach you.

Whether you want to help millions of people change their lives, provide for your family or buy some cute lululemon tights, managing and making your own money is the key to freedom.

I’m just a regular woman excited by the small things :- a runny egg, cappuccino art & Kikki K pens.

My mission is incredibly important though, to help other professional women, mums and busy entrepreneurs have more fun. #letsgetthispartystarted

If you enjoyed this podcast and want to learn more about Small Business Money Management I go through the entire process, step by step, with templates and tutorials in my online programme.  <<CLICK HERE to learn more>>

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Bills Bills Bills – How to Stop Bills from Clogging Your Inbox


The 3 Reasons Your Inbox is full of Demands for Payment and how to Stop them continually coming!

Bills Bills Bills (Destinys Child) song has been in my head the whole time writing this episode! Takes me back to 2001 when I saw them play in London 🙂

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How to be resourceful when starting your own business

Today some tips to being more resourceful when you’re starting your own business. <<CLICK HERE TO WATCH THE VIDEO MINI LESSON >>

It’s pretty normal to think negative thoughts, humans have been doing it for generations. I do it, we all do it.

More than half our daily thoughts can be stuck on a hampster wheel of reliving past mistakes or being afraid of the future.

I used to be scared of a lot of things until I moved to London by myself at age 26 found a job & a house &

tripled my income

got a social life

fell in love with rowing

I said yes to invitations from anyone who asked me out! Doors opened, opportunities showed up, adventures & real life experiences followed.

Please if you think you aren’t smart enough or you don’t have the time or money to try something new or start your own business, BUT you deep down really want to and can’t face your 9-5 much longer, then be brave, go against the norm of negativity in the world and have a go!

#AbsolutelyYesMamma

You ARE SMART enough and you are a capable resourceful person.  None of us are born smart.  Smart people have learned through trial and error, from mentors, teachers, guides, books, courses and hands on experience.

“Become a practitioner” Gary Vaynerchuk.

Be a doer not a dreamer.

Today I’m here to give you some shortcuts & money saving tips to help you build your dream business and simpler life, using resources you already have.

I’m showing up to help you get started. Using just your business bank statements and Excel.

This is for new small business owners who haven’t yet invested in cloud accounting software, but don’t have $1000s to give their accountant at end of financial year & want to know their numbers & understand the basics of  business money management.

Listen to the podcast & watch the free mini lesson video below. Let’s get your partay started.  Did you find this mini video lesson useful? Share with your friends! Thank you for visiting!!

 

 

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HOW CAN I HELP YOU?

Would it be helpful if I gave you the first steps to starting your own business or making your suppliers happy or feeling more relaxed with your business money & taxes?

<<CLICK HERE to tell us your ideas >>

This blog is for you and it’s my duty to share my 10,000 hours bookkeeping and accounting experience with you so you’re feeling confident to look at your numbers.

My vision for you is for you to have assets that are making you money, so you don’t have to work as hard in the years to come.

I love working but I understand there are many out there who’ve struggled with money their whole life and don’t enjoy their work so much right now.

This can be fixed.

Once you have a simple money plan your money stress will lessen.

Until you have a new way of thinking about money you’ll continue your old money habits.

Today let’s face one money issue and make a step towards fixing it inside your business or personal life.

 

 

 

Episode 38 – 7 Ways To Stop Sales From Stressing You Out

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Episode 37 Creating successful virtual teams

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Everyone can learn to run a profitable business, starting with access to these simple techniques

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Episode 35 – Starting a Business While Raising A Family

Episode 35 Starting a Business While Raising a Family

Worried out about money now you’re pregnant?

Hi, I’m Kim, an Aussie accountant and GST BAS Agent and the founder of Bluecloud Bookkeeping.

A 100% cloud-based bookkeeping company for small business owners looking for a better way to get their admin done in less time and without the hefty accounting fees.

Unlike traditional accountancy firms charging around $75 per hour for bookkeeping to get your business tax ready, we’re all about fixed pricing, using cloud tools with the help of AI, so you’re automating the mundane and able to make it to the 6 pm pilates class

Thank you for being here!

Juggling life, business, money, dreams can make our minds packed with crazy overwhelm so I’m going to get straight to the good stuff.

Listen to this weeks podcast below for our

Five Tips to Starting a Business While Raising a Family

I’m going to share how you can have your own business while raising a family without going back to uni.

It’s 2018, not 2008

Business systems pre 2000 are pretty old and dusty but many people are still using them and wasting their social life just to keep on top of running their business the old way instead of the new way

Do you need to go to uni these days to make money?

That’s debatable.

Can you make money from fixing one problem for one niche client – #AbsoloutelyYesMamma

We’re here to teach you how to set up your own business whether you already have a business plan or not.

If you don’t have a business plan then you’ll be learning a financial life skill

that’s also needed by every other business out there.

Small Business Money Management (see our course here https://kimhinkley.com)

Bookkeeping and accounting are still one of the highest business models that return the highest profit margins.

So we’re here to teach you bookkeeping using the cloud, from wherever, using whatever skills you have now,  you are so you can

Start your own business doing your thing

Walk into a business and hit the ground running

 

Look after your bills and invoices or do it for another business

Know how to be productive on your first day at work in an accounting firm (if you’re a promising young university student shit scared of asking your manager anything.)

Improve the way your family business is operated and boost profits through efficiency.

It can feel scary knowing your income is coming to an end and how are you going to afford childcare plus pay the bills and get any sleep

It can dampen the excitement of your newborn but I’m going to get you excited about your pregnancy plus the incredibly important decisions you’re now going to make about your future, how you make money and how you raise your family

Before I began my own business I felt frustrated not having thousands of dollars appearing in my bank account anymore from my 9-5, bored walking around Westfield, uninspired driving my kids to tennis, swimming, Kindermusik, Sporty kids …… etc

I felt like I was now at the bottom of society.

Cashless and dependant on my man financially.

While some women aspire to be ladies of leisure I just couldn’t cope without making my own spending decisions and just having the freedom.

Freedom to choose.

Not having to explain why I wanted something.

Not explaining why I love the quality and refuse to buy poor quality.

I also felt like my privacy has been taken away now my spending habits were being analyzed in our joint bank account.

I opened my own business bank account.

Bought some Google shares with some savings I had tucked away

and launched my biz Bluecloud Bookkeeping.

I went from earning $30 per hour bookkeeping to $350 per hour bookkeeping.

I learned the tools, created systems based on the 100 + companies I’d worked for

and created my knowledge into an online course

and simple routine I use to earn my income from home,

while still driving my kids to school, swimming and buying them cute outfits at Country Road!

My MISSION is to help women worldwide

Start a business
Learn bookkeeping skills
Manage their own money
Plan their business goals
Learn the tools that are working now
Reduce the amount of stress in their life
Keep on top of their taxes, the fun, and easy way
Have time for kids, partners, gym, trivia, holidays
Continually grow their email list and customers

I promise to relieve the tension of small business owners and women looking to work from home during maternity leave.

We’ll help you get excited about your business numbers and watching them grow and using a better system and award-winning tools to do the heavy lifting for you.

My business is not about endless nights of processing thousands of invoices every week.

Unlike traditional bookkeepers who work on site, handling paper, stamping, filing and balancing chequebooks,

We’re all about artificial intelligence, automation, machine learning, business apps, efficiency, weeding out human error, controlling data accuracy, simple systems, and repeatable weekly routines.

We’re making it easy for your tax accountant at year end too.

We’re saving money for our clients by getting their bookkeeping up to date before they see their tax accountant so they don’t have to worry about

Freakishly enormous accounting/bookkeeping fees

Trying to remember the 30 mins of bookkeeping advice they got 12 months ago from their accountant

Submitting their first business tax return clueless and nervous and in the dark

Find out more  about learning how to start your own business and control your own finances here https://kimhinkley.com

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