Bookkeeping is an important factor of properly running a business. Many people tend to think that bookkeeping and accounting are one and the same. However, they can be very different. Bookkeeping is the recording of all financial transactions within a business. Kelly invites Nicole Davis to cover everything you need to know on how to properly take care of your business’s books. Whether you are wondering how to keep up with your own bookkeeping, looking to hire someone, or have any general questions about the bookkeeping process, this week’s episode will be key in helping grow your business!
The 101 on Bookkeeping & Your Business
Nicole Davis is the Founder and Principal of Butler Davis Tax and Accounting LLC. Nicole has over a decade of experience under her belt. She specializes in accounting, tax financial management, tax advisory, tax strategy, small business accounts, mortgage loans, dealership act and financial planning. Nicole obtained her master’s in business administration, is a member of the AICPA and a CPA. Nicole helps to answer many bookkeeping concerns such as, seeking assistance, legality concerns, where to start, hiring someone and what to look for or expect in a bookkeeper.
Listen to Kelly and Nicole Discuss Bookkeeping, including:
- What is bookkeeping, how is it different from accounting?
- Can you do it yourself? If you can, what you need to know
- Keeping up with your Bookkeeper
- Importance of Monthly Reconciliations
- The Musts When Seeking a Bookkeeper
- How Bookkeeping Differs from Field to Field
- Trust, but Verify!
- What Bookkeepers Need
- Paycheck Protection Program (PPP) and Bookkeeping
- How Bookkeeping can Further your Business
- Clean it Up Process and Seeking Help
- Trust on if You Save or Spend more Doing it Yourself
- The Three Must Ask Questions
- The Owner’s Role and Meetings
- Next Step to Take if You Misbook Your Bookkeeping
- The Ideal Client
- Finding a Bookkeeper
Kelly Phillips Erb created and hosts the Taxgirl podcast, your home for tax news, tax info, and tax policy. In each episode, she shares conversations about taxes, money, and the choices we make. Kelly is a tax attorney who works with taxpayers and tax practitioners like you every day. She helps folks out of tax jams, and hopefully, keeps others from getting into them.
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Kelly’s Website: Taxgirl