Backstory I’m about to get really personal with this post. You know that I am a bookkeeper and owner of Profit Meadow Bookkeeping. If you have dug deeper into my story, you may know that I am a wife, mother, and Christian. What you may not know, even if we are Facebook friends, is that I have a …
When you’re just starting out, it’s only you in the business. As Dave Ramsey once said, “You’re the CEO- the Chief Everything Officer!” Then, your business starts to grow, and you realize that you can’t do everything by yourself, but you don’t make enough to justify an “employee”. What should you do? Hire a Contractor! …
If you sell products, you know that your profit is more than just the money that comes in. You have to subtract the amount that it cost YOU to have that product from the amount the customer pays you. How does this work from an “accounting” standpoint? Here’s a quick scenario for you: Let’s say …
How Does the Inventory and Cost of Goods Sold Relationship Work? Read More »
Whether it’s blogging or posting on social media, we all want to know what will attract our future customers. Here are the three categories that I use when trying to decide what to post about: 1. Solving Problems I always do my best to make posts that help my clients solve problems. I’m not trying …
Does this scenario sound familiar to you? You need help with your books. They are a mess. You got busy running your business, doing marketing, filling orders, making sales… and the books were left for future-you to worry about. So you set aside a Saturday and get to work. You’re in your accounting software, making …
What If I’m Embarrassed To Have A Bookkeeper Look At My Books? Read More »
I have the words “Get a FREE Review of Your Books” plastered all over my website, but what does this mean? What do you GET with a free review of your books? What IS it? These are the steps to my onboarding process to help you understand what a free review of your books is, and …
With just about every tax/money question that you may have, the answer is: it’s complicated. To make things easier, I’m going to share the system that I use to determine who needs a 1099: Step 1 Go through your books and make a list of all of the people that you paid more than $600 …
A Profit and Loss Report can help you see the state of your income and expenses. A Profit and Loss Report is set up as follows: Income – Cost of Goods Sold —————————– Gross Profit – Expenses —————————– Net Income (Loss) Let’s say you sell hairbows, and you brought in $4,000 last …
I consider myself to be an aspiring minimalist, and I use those principles in my business as well. While decluttering my life, I realized that there was a lot of clutter in my business as well! In order to combat this, I created simpler processes. For one, I used to require that potential clients grant …
Step back from your life for a second and take a moment to dream with me. It’s February 14th. You’ve got all your tax forms in the mail and you’re ready to file. You get an email from Profit Meadow with your previous year’s reports. You drop it all off at your accountant’s office on your way …
