Congratulation on taking the first step in gaining control of your bsuisness accounting, bookkeeping and financial management.
The first step is always the toughest!!!
I will let you in on a secret of mine, one which many of you out there might share. I dislike many parts of my workouts. The Burpee and I have and never will be friends. However, I recognize the role these exercises play in a well-rounded regimen, and how they will get me to my goal of being physically fit for life. I have put all my workouts in the context of what my ultimate goals are, which allow me to do them (including Burpees) even on days when I have no desire to work out. I am also aware that I will likely never be a fitness coach/gym instructor. Self-motivation in the gym for me is hard, can I really instruct others to do this? I do not think so.
The above analogy can be applied to your business financial life. While you may never gain the skills required to be a CPA, having a competent understanding of the finances of your business are paramount to you doing well.
Many women entrepreneur, small business and micro business owners tell me "My husband, bookkeeper or CPA handles my business finances. I just don't understand accounting and as long as money is coming in there isn't a problem". My heart breaks when I hear this. It is not OK to give financial control of your business to anyone. While these financial surrogates may have your best interest at heart, as a business owner the buck (literally) stops with you when it comes to the accounting, bookkeeping and financial management of your finances. As mentioned above, you do not need to be an expert in these areas, but an understanding of what is going on is paramount. These people like the bookkeeper and your CPA should form a valuable part of your team, but this should be one where you are the quarterback.
My hope is to encourage you to make the time and invest in financial education. Learn how to use your accounting system and read the numbers in your business as they will tell you the true story of what is going on. In the beginning, it may seem overwhelming and a bit scary to see everything on paper. Make it a habit to check in on the finances of your business. Like all relationships spending time and paying attention to detail with the numbers will have great yields for your business
As my superhero always says before he begins anything, "Let's do this, so the magic can happen". Let us do this together. Do not allow your passion to become an expensive hobby.
We are all Smart Confident Financial Women, sometimes we just need some assistance.
Closing Your Books is help to assist you with finance education, bookkeeping, accounting and financial management.
We are just a phone call or e-mail away. So, let's talk.