Find out more about how to start your own business
Do you do your own books? The tax season is upon us, a time when some business owners struggle doing their returns.
On today’s show, we have Kay Leland from The Bean Counters Bookkeeping LLC, located in Wilmington, North Carolina. She began her accounting career while still at school and has a master’s in accounting from the University of North Carolina Wilmington. She worked for the US Army Audit Agency for some years before setting up her own business which provides bookkeeping and accounting services to small businesses as well as teaching them how to be more efficient.
- There are three different levels of accounting.
- CPAs will typically not get involved in regular bookkeeping.
- The number one tip is to outsource early and often.
- There are a lot of accounting certifications and many people who do bookkeeping, but you want to find someone with an accounting degree.
- Accounting and bookkeeping touch every part of your business. Despite its importance, it is probably one of the most ignored things because it’s not fun to do.
- Every small business is different, so you want a bookkeeper to know your business and understand how it runs.
- How Kay helped an established restaurant business save money and become more efficient.
- An online business store resolved cash flow problems by learning about invoice terms.
- Don’t let things snowball: many entrepreneurs discover issues during tax time.
- Be sure to establish an effective communication process with your bookkeeper.
- You need to have a bookkeeper who knows about your industry and can proactively give valuable insights for the company.
- Outsource everything you can, as often as possible.
Tune in for practical tips to improve your business and protect your purpose.
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