photo credit: blacksburgbelle.com
Continuing along with our series on getting your business finances in order for the new year, today we’re going to talk about invoices. Let’s dive right in.
When you take in money as a business, you may not necessarily record the transaction as an invoice, but it’s helpful to think about it in that way. Whenever you receive money you need to record it. Even if you don’t have an accounting program or software, you need to mark it down and have some type of receipt of payment. For example, if you use a Square reader, this sends a receipt of payment and captures the information about that sale. And while you have this information within Square, you still need to organize and document every last penny you have received throughout the year.
Step 1: Gather your invoices
This should include anytime you received income throughout the year. Again, let’s start at the beginning of the year and take it one month at a time.
Step 2: Set up your spreadsheet
Since you may not have an accounting program or software set up, I’m going to show you how to do this manually, within an Excel spreadsheet.
Using the same spreadsheet I introduced in the Expenses post, fill in the fields under the Income columns. Please download to use, and add rows if needed.
Step 3: Enter your invoices
Starting with your first sale from the year, enter the information needed to the columns of the spreadsheet.
Date – Enter the date of the sale, when the purchase occurred.
Description – Enter what it is that was sold.
Reference – Enter your own invoice number here. If you haven’t numbered your orders or sales, you can start by saying your first sale of the year is 001 and continue on down the line. You want to do this with all of your orders whether it is from Etsy, Big Cartel, so on and so forth.
Bank Account, Debit or Credit – Here you want to record the debit to your bank account (money in).
Sales – You may want to split this column out for the different sources of income. You may want to have a column for your Etsy sales, consulting sales, BigCartel or in person, craft fair sales. This can help you see where your most volume of sales are from and where the most money is made. This is great information to have for tracking purposes and to help grow your business.
Tax – Did you charge tax and how much did you collect?
In Canada you should be collecting GST if you have over 30,000 gross revenue.
In the U.S. you should be collecting Sales tax in the state you are located when doing in person sales. Online you only need to collect sales tax if you sell to a person who resides in a state where you have a physical location.
Once you’ve filled out these columns for your first invoice you need to repeat the process for all of your income from the fiscal year until all of your invoices are accounted for. Everything from the year goes into the same spreadsheet. Take it slow and go one month at a time.
But what about online systems? How do you enter your invoices?
The good news is, if you want to set up an accounting system or start using accounting software, you can still do so. You may have started this last week with your expenses, so you should be able to piggyback off of what you’ve already entered and continue by entering your invoices.
For an online system like Xero:
Xero has an invoice template which makes it easy to import all of those sales you wrote up in a spreadsheet. It’s a little more work, because each invoice needs to be matched with a payment and reconciled with the corresponding bank transaction. You can make invoices for cash sales, and match the payments to your petty cash account.
For an online system like Wave:
Unfortunately, you can only create invoices within Wave and not import them from a spreadsheet. Once made, you can match a transaction to the invoice with the “create invoice payment” function.
For an online system like Freshbooks:
Another easy to use software is Freshbooks, but it’s something to set up for next year. Freshbooks is great for businesses who really don’t want a fully functional accounting system, but who need to get paid easily. What’s a neat feature is Freshbooks capability to send recurring payments. Set up a profile and see the money come in automatically!
Once all your invoices are in for the year, congratulate yourself on a job well done. You’re almost done closing out your books for the year!
Join in next week, as I’ll go over another step in the process and show you how to reconcile your accounts.
Missed the previous posts? Get them here:
Last week, I introduced this series on how to wrap up your finances at the end of the year. I talked about the importance of closing out and reconciling your business accounts for the start of the new fiscal year and why you need to do so.
In this post, I’ll be discussing step by step how to document your expenses from the current fiscal year and how to prepare them for the end of year wrap up. Let’s get started.
Step 1: Gather your expenses
Gather your expenses from this current fiscal year. We’ll be starting at the beginning of the year with your expenses from January.
Step 2: Set up your spreadsheet
Since not everyone has accounting software or perhaps has not kept up to date with their software throughout the year, I’m going to show you how to do this by hand, or at least in an Excel spreadsheet.
I’ve made a sample spreadsheet for you to use and customize for your expenses: Please download to use!
Step 3: Enter your expenses
Take a receipt and fill in the columns with the information from the receipt, fill out all the columns:
Date – Enter the date of the receipt, when the purchase occurred.
Description – Enter the name of the company you purchased from. For example if you purchased Facebook ads, you’ll record “Facebook.”
Reference – Here you want to record a purchase order number or invoice number that the receipt references. If you don’t have one, it is ok to leave this field blank.
Source – For this field, you want to record where the the money came out of. Was it your bank account, checkbook, paypal, etc?
You should have a reference or a source per expense. You don’t need both, but you do need one or the other.
Bank Account, Debit or Credit – Here you want to record the amount of money that was debited from your bank account and/or credited. I explain the different between these two options in my two previous posts What The Heck Is A Debit Anyway? and Credit- Love It Or Hate It
Categories – Here you want to record the amount to the type of expense. Was it advertising, shipping, bank fees? There are many expense categories to choose from. (the bank account dr/cr should be identical to this amount)
GST Paid – Here you want to enter the tax you paid on your expense. In Canada there are two taxes, so you may want to have two columns one for GST and one for Provincial tax. In the U.S. you can record the sales tax you paid on the expense, if any. (be careful- don’t include tax in your corresponding Expense Category!)
Once you’ve filled out these columns for the first expense you need to repeat the process for all of your receipts from the fiscal year until all of your receipts are accounted for. Everything from the year goes into the same spreadsheet. Take it slow and go one month at a time.
But what about online systems? How do you enter expenses?
The good news is, if you want to set up an accounting system or start using accounting software, you can still do so.
For an online system like Xero:
- Create an account with Receipt Bank and send all of your receipts virtually. Most of our receipts these days come into our email and Receipt Bank allows you to forward your receipts to a unique email just for you. You can even take a picture of your receipt, if you have one from a cash purchase, with an APP (available on both Apple and Android) and it will send it to your account automatically.
- Receipt Bank takes care of scanning the receipt and gets it ready to publish to Xero. Once you’ve checked your receipts for accuracy and they are set to the right expense account, you can set the program to automatically send receipts to xero. It will even allow you to export your expenses as an Excel Spreadsheet or to PDF.
For an online system like Wave:
- Shoeboxed is another system that takes care of receipts. It will scan your receipts and get them ready for export into Wave. With a click of a few buttons, you can watch all of your receipts turn into transactions inside Wave. It will even allow you to export your expenses as an Excel Spreadsheet, CSV, or PDF.
Once all your expenses are in for the year pat yourself on the back and treat yourself to a glass of wine because that is a lot of work! And now that you know how to record your expenses, maybe next year you’ll do it year round so you won’t have to do it all in one go.
Join in next week, as I’ll go over how to enter your invoices from the year. So come prepared with at least your first three months of invoices.
It’s almost time to ring in the new year but before we pop open the champagne, there’s a lot to do to close out your books for the year. There’s expenses, invoices and bank accounts to reconcile. So hold on to those champagne flutes and party hats, you’ll first need to get yourself organized.
If you start now you won’t feel rushed or overwhelmed come the ringing in of 2015. You’ll even save yourself the headache of scrambling to do the work at tax time. Tax filings in Canada are due June 15, though you have to pay your dues by April 30th, and in the U.S., you’ll need to file by April 15th. And while those filing deadlines may seem like a long ways away, it will surely catch up to you and then what? You’ll be stressed and you won’t know where to start.
At the end of the fiscal year, you need to close out the business year to get ready for tax time as well as close out your accounts for the year. Most likely your fiscal year for your business follows the calendar year, so it is best to start now before the year is over. All of your accounts have to be reconciled. You’ll want to know how much money you made and your expenses for the year. This information will all go into your tax returns, as well.
You’ll also want to close all of your “temporary” accounts (accounts like Sales, Expenses and Draws) so they are set to zero for the new fiscal year. When you close out and reconcile these accounts, it allows you to compare how much you made and spent during the year. This information is very helpful for year to year comparisons, too. It will help show you how financially stable your business is, how much you have to invest back into your business, or how much harder you have to work in the new year to grow your business.
Over the next couple of weeks, I’ll show you how to close out your accounts for the year and help you get ready for tax time. I’ll discuss the specifics of expenses, invoices and reconciliation of your accounts.
To get started you’ll need to start gathering your expenses and invoices over the past year. You’ll also need to look at your business bank accounts including PayPal, Square, or the like. We’ll take it slow and I’ll show you how to go through one month at a time so you won’t be overwhelmed.
Next week we’ll start looking at your expenses. If you haven’t kept up with your bookkeeping throughout the year, or haven’t started, you’ll be just fine. Don’t fret. I’ll show you how you can get your finances in order. So to be prepared, gather your expenses for the first three months of the year. I’ll explain how to deal with them and get you started on the rest of the year’s expenses.
photo Credit: Blacksburgbelle.com
This is the first in a series where I talk with small business owners and their experience with professional bookkeeping services to get to the bottom of why professional bookkeeping is best for small businesses. In this first edition of Professional Bookkeeping and Small Businesses, I talk with Tracy James with A to Z Motorcycles.
A to Z Motorcycles is an online retailer that sells a variety of artwork based on classic and modern motorbikes. They offer a range of art prints, posters, canvases, gift cards and t-shirts all sporting their original designs. They started in January of this year and officially became a company in April, 2014.
Tracy started out using Xero for A to Z Motorcycle’s bookkeeping needs. She knew it was important to keep track of their incoming and outgoing money as well as inventory. “I was making sure I kept all my records electronically and photographed any receipts that weren’t already digital,” she said. But not long after, she realized that because she was not a trained bookkeeper, or accountant, there were things she wasn’t able to do. The accounting became even more cumbersome when they started dealing with multiple currencies via PayPal.
Tracy would spend hours each week on A to Z Motorcycle’s bookkeeping, but kept falling behind. She finally made the move to hire a professional bookkeeper (specifically Crafty Bookkeeping) to help free up her time to concentrate on other aspects of the business such as marketing, promotion and sales. She wanted to spend her time focused on making money rather than just keep track of it. It became too complex and too stressful. Tracy explained, “ I needed to make sure we were correctly reporting our money in and out so we didn’t get into trouble with the tax department. We had shareholders that invested in our startup so I needed to make sure all our reporting was accurate for their benefit too.”
After hiring Crafty Bookkeeping, Tracy had more time to focus on things within the business she was good at. “Having a bookkeeper frees up my time to focus on my strengths in running the company and developing new products. Plus it allows me to be confident that we are complying with tax requirements.”
Having a professional bookkeeper has allowed Tracy to relax and have confidence that the money side of things are taken care of. When the books are in order, she is also able to have a clear picture of how A to Z Motorcycle is doing financially and she is able to make better business decisions. “It makes my company more efficient,” she said.
Tracy has been so happy with her experience with professional bookkeeping she has even recommended Crafty Bookkeeping to other small businesses. “Trying to do it yourself is just a false economy and way too stressful. Plus you are almost certain to make mistakes.”
Are you a small business that has benefited from professional bookkeeping? I’d love to hear from you! Tell me your story and you may be featured in this new and on going series!
I just completed a refresher bookkeeping course made available via the Institute of Professional Bookkeepers of Canada (IBPC.) As a member of IBPC I am able to take advantage of these opportunities to keep up to date with the bookkeeping profession.
I chose to do the refresher bookkeeping course because standards can change over time. I originally did a Computerized Accounting course in 2008 and on taking this Basic Bookkeeping for Small Business course, I was happy to see that I came out with a %94 average. While things haven’t drastically changed within bookkeeping since the first time I took the course, I am ready for any future changes as the needs of small businesses continue to grow.
What I loved about this course is that it taught the manual labour of bookkeeping. This means not using a computer program and manually keeping track of purchases and expenses in an accounting book. The course covered this really well as well as tricks and tips on how to catch and fix easy to make transposition mistakes. The main idea behind the course is you take an example business, who starts with manual recordings, and take them to full accrual financial statements. What that means is, I learned how to take someone who only tracks their cash transactions and have their bookkeeping cleaned up and ready for tax time.
I hope to soon start another course on my way to obtaining my Distinguished Financial Advisor (DFA) designation. This designation by the Knowledge Bureau will certify me as a professional bookkeeper and will take several years to accomplish. Think of it somewhat as getting a Certified Professional Accountant (CPA) designation for Accountants, but it isn’t exactly apples to apples. It will mean that I have the seal of approval of the Knowledge Bureau and be a part of a growing network of professional bookkeepers.
The next course will be Advanced Bookkeeping for Multiple Business. It will be an in depth look at how a bookkeeper uses Quickbooks or Sage. It will cover how a bookkeeper can use these programs to produce financial reports, among other tasks such as looking at keeping finances for several different types of businesses as each type of business needs its own set of accounts.
I hope to translate what I learn from this next course to use them with online accounting systems and programs such as Wave or Xero. While it’s good to know how to navigate Quickbooks or Sage, it will be even more crucial to understand how to use the latest accounting software that small businesses are adopting every day. With every course I take on my way to obtaining my DFA, I will adapt the lessons I learn to be of the most benefit to my clients.
Who should care about my professional development? YOU. The client. Anybody can say they are a bookkeeper, but not everybody will want to spend the money on training to be a better or certified bookkeeper. Being a bookkeeper means I get to help a variety of businesses and getting trained in their businesses means I can help them more efficiently, which is something I strive for every day.
What about you? How do you keep up to date with your professional development? How do you keep on top of your profession?
Etsy is an easy way to sell your handmade goods online, as we discussed in last week’s post. But as there are over one million sellers, it can be hard to make your first sale. You need time, patience and good old fashioned hard work to get that first sale. I know several people who struggled with this issue and I want to offer up my best three tips for having an Etsy business. It is what I learned while having my own Etsy shop, Petite Tuques, over the past five years.
These tips will help get you on the road to your first sale, as well as having an active Etsy business.
Product photography can make or break a sale. Having good photos is crucial and the good news is you don’t need a fancy camera to achieve good photographs of your wares. You can take photos with any digital camera you have. There are several secrets to getting your photos from ok to great.
The first is setting up your shot. You want to use natural, indirect light. Overcast skies can be blessing. If taking photos out of doors isn’t for you, use a lightbox, or make one yourself. Oh She Glows has a great tutorial on how to make and use a lightbox with household materials. Either way, you’ll want to have a consistent backdrop for all of your photos. White is best.
Think about the different angles your customers will want to see of your product. Also think through staging your photos. Show your product in use. If this makes you stressed, then it’s ok to leave it out. Just concentrate on having a consistent backdrop and well lit photos. You can always go back and add staged shots to your photo list later.
Another secret to having excellent product photography is editing. It is crucial to learn how to edit your photos after you’ve taken them. In the lightbox tutorial mentioned above, you can also see some before and after photos and the difference between an edited and unedited photo. Editing really takes your photos from drab to fab. There are a couple of free and low cost options for editing software, two that are relatively easy to learn. GIMP or Serif are both good options and GIMP is free.
Join a Team
Etsy has over 10,000 active teams. It helps to find a team that is local and active. It’s also beneficial to be choosy about which team(s) you join. I suggest limiting yourself to only two. Joining a team will help you build relationships and build a business support network of other likeminded Etsy sellers.
Outside of Etsy it is helpful to find a coach, as mentioned in the previous post, to see how other people are running their business and how they cope with the realities of running a business. It is also helpful to find people who are running similar businesses. Don’t think of them as competition, think of them as a support network within your particular niche, where you can help each other out with similar questions or advice.
This is the most important tip. It can be hard to wait for that first sale, but you must be patient. Sales don’t happen out of the blue. You need to be active and do some outreach. Use your blog, other blogs and social media to talk to people and get your name out there.
Take the time to review your photos and listing descriptions. Make tweaks here and there and just continue to talk to people and drive them to your shop. It may feel disheartening to not have a sale, but don’t give up. Rethink, retool, review and fix one thing at a time.
In no time, you’ll have your first sale and many more after that.
For more tips and resources about having an Etsy business follow the Etsy Sellers Handbook.
Image courtesy of blacksburgbelle.com
Are you looking to start a business? There are several things you should consider before you wade in. When I started Petite Tuques there were so many things I didn’t know that I wish someone would have told me. While everything worked out in the end it would have saved me a lot of time to have had a clear understanding of some of the key aspects of forming a business. So today I wanted to share with you the things I wish I had known before diving in with my Etsy shop, Petite Tuques.
Disclaimer: This is a general overview of things to consider when starting a business. Please do your own research, especially when it comes to the legal and governmental requirements of starting a business.
Choosing a Name
It’s important to choose a good name for your business. You will want something that you can grow with over time, and not something very specific like “baby hats.” A general name can encapsulate all of your current business and possible future business. Though at the same time you will want a name that is unique to you and capture your business vision.
Here are some great examples:
:: thesexyknitter – This is a very bold name!
:: Pixie Bell – This indicates the seller has unique style
:: Emily Jane Designs – This name allows for a wide range of business activity
You will also need to think about a website domain name as well as your social media names. Ideally, your chosen business name will be your domain name and your username across all social media sites. Consistency is key for name recognition. Domain names range from $10-20 per year.
Registering Your Business
If you’re just starting out and believe your gross sales will be under $30,000 in Canada, you don’t need to be registered for Goods and Service Tax (GST). But if you’re likely to grow, you will need to register for GST. In the U.S., you will need to register for a business license with your local municipality and it’s a good idea to get a federal Employee Identification Number (EIN) so you won’t have to use your social security number when conducting business. In either country, make sure you know and follow the requirements for registration, otherwise you could be facing serious fines.
Professional service businesses such as bookkeeping, accounting, consulting, and coaches should consider registering right away because it is more professional.
In terms of your business name, you don’t need to register your business name if you are using your legal name, otherwise you would need to register “My Name Consulting” in Canada (except for Quebec, where you don’t need to register “My Name Consulting.”) It’s similar in the U.S., where if you use a name that is not your legal name you will need to register a “DBA” or “Doing Business As.”
Where Will You Sell?
Next you’ll need to think through where you will sell your goods or services online. If you want to sell handmade items, you should consider Etsy because it’s easy to start up and is very common. Big Cartel is another option. It has the feel of a private online shop, but still easy to set up. Squarespace is becoming more popular because it is an all-in-one solution for a website, plus blog, plus shop. All you need is a domain name (optional) and you are set to go!
Remember the number one tip about your business name: try to have your business name as your Etsy shop name and not a random username that isn’t easy to remember. Be consistent.
Start a Blog
This is one of the best ways to communicate what your business is and what you are doing with it. It also helps start a dialogue with customers and can help build strong lasting relationships. Even if you don’t feel ready to blog, you should do it anyway. The rewards outweigh the risks.
You can start a blog on WordPress or Blogspot. And if you don’t have a domain name, you can still get a free blog with your business name on either of these services. Squarespace is also a great place to blog since it is an all-in-one solution and it has blog templates built into their service, but it costs money.
These are just some of the things I wish I had known before starting my business, especially the advice about finding a unique business name. It’s something you need to use everywhere. Your online shop, your website, your domain, your blog, and your social media pages.
And finally, make sure you research and understand the requirements from your government, as well as your tax obligations. It’s imperative you get this right, otherwise you’ll spend too much money having to fix it.
Thinking of starting a business? Contact me so I can help you set up your business bookkeeping.
For more general business help, I recommend following these great coaches:
Laura Roeder : Learn how to market yourself with Social Brilliant
Blackburg Belle: Learn how to run a successful blog with her 6-week course: Six Weeks to a More Passion-Filled and Profitable Business Starts January 25, 2015!
Tara Gentile: Learn how to grow your business in Kick Start Labs
Mayi Carles: Her Life Is Messy Bootcamp will help you to organize life and business.
Copyblogger: Learn how to write copy for your website
As a professional bookkeeper, catering to those in the handmade community, I already offer a range of helpful services. Though the majority of these are service based, I focus on areas where small businesses seem to need the most help. This includes; a review of bookkeeping systems, guidance on accounting system organization and system cleanup, help with receipt wrangling via Recipe Bank, monthly account reconciliation, and various other bookkeeping tasks. These services help my clients run professional businesses and keep track of their cash flow.
I also created an e-book because I found that business owners were having trouble getting around Wave accounting software, and getting their Etsy shop and Paypal synced. It’s a good resource for setting up a business in Wave and helps clients solve their most pressing issue with the program.
The book covers:
- Signing up to Wave Accounting
- Connecting your Etsy account
- Connecting your Paypal account
- Understanding the Transaction screen
- Understanding the Income Statement
This e-book is a stepping stone to working with me, and best of all is FREE. I offer it through my email newsletter subscribers.
But I want to expand my offerings to further help my clients and help you in the process. I want to create and offer more digital products to help expand my list of services and reach a new client base. Producing more digital products would be a great supplement to my current offerings.
In the near future, I will be looking into providing several mini trainings and e-books that would cover the basic principles of bookkeeping. I’ve learned throughout the years that small business owners need the most help with bookkeeping. These trainings and e-books would be plain spoken, easy to understand and not take up a lot of your time, because you’ve got a business to run!
Would you like to understand debits and credits, get the hang of balance sheets, and easily see how much your business is worth, and how much money you have on hand? How about accounting software tutorials? How about moving from spreadsheets to the Cloud? This is just the tip of the iceberg. I know theses topics will help my clients and you become more proficient in bookkeeping.
Is there anything else you would like to learn about small business finances? Let me know. In the meantime, I’ll be watching April’s broadcast of Create Digital Products While You Sleep. Join me!
If you can’t wait to get started, you can contact me today to see if I’m a good fit for your bookkeeping needs.
Are you ready to make your creative work more lucrative, stable, and sustainable in the long-term? Join April Bowles-Olin for an introduction to digital products and how they can enhance your creative business. This course will show you how to produce and position viable products for generating multiple revenue streams and passive income. RSVP right here to watch it live and get access to the workbook for FREE. This post is part of the Create Digital Products blog tour.
Image courtesy of blacksburgbelle.com
Congratulations! You’ve decided to take the next step and hire a bookkeeper to help organize your business finances and get your bookkeeping systems in place. Now what?
With so many bookkeepers out there, how do you go about evaluating them and hire a bookkeeper best suited to you and your business? All it takes is a bit of research and to ask the right questions.
The internet is a treasure trove of possibilities and a great place to start looking. You may also want to ask around to your friends and friendly businesses for recommendations. Once you have a handful of possibilities for bookkeepers, keep the following in mind when evaluating them for the job:
Look for a bookkeeper with specific experience in your line of work. If they’ve worked with clients similar to you, your bookkeeper will be more keen to know what you and your business need to function financially. She will be better able to understand your particular needs and how best to help you.
Memberships and Certifications
Bookkeepers with memberships in an association is a great indicator of a good bookkeeper. By keeping membership in professional associations, the bookkeeper is bound to stay up to date with the latest in the bookkeeping field, which is a benefit to you. The Institute of Professional Bookkeepers of Canada or the American Institute of Professional Bookkeepers are good ones to look out for.
Check to see if they have any certifications in accounting software such as Xero, Wave or Quickbooks. This indicates training and a good knowledge base of these software systems. This is also a good indication that she will be able help you with your chosen accounting system.
This one may seem obvious, but it’s a good reminder. Does she have an overall professional demeanor? Is her website current and up to date? See how long she has been a bookkeeper. Are you ok with that experience? Look for client testimonials and/or ask for references from clients similar to you. Also make sure her rates are in the range of what a reputable bookkeeper would charge. This range is over $30 an hour.
Ask The Right Questions
Talk to her about the tasks involved in bookkeeping. Will she be responsible for entering invoices and payments? Will she create excel files for sales on third-party sites like Etsy? Will she be responsible for entering bills, or use a service like Receipt Bank? Make sure you understand your responsibilities as well as hers.
Ask how she communicates with her clients. How does she handle emergencies or mistakes? A good bookkeeper will outline how she corresponds with clients and will outline strategies that will help you fix mistakes and how she deals with emergencies situations.
A Word of Caution
As a small business owner, you should be wary of people claiming to be professional bookkeepers but are not actually legitimate bookkeepers. If you’ve done your due diligence above, you should easily be able to rule out anyone who isn’t legit.
If their rates are low, it is a sign of a beginner or an untrained bookkeeper. Again, most bookkeepers who are confident and reputable, will have rates above $30 an hour.
By reviewing each of your potential bookkeepers with the information listed above, you should easily be able to narrow down your options and select the best bookkeeper for you.
Contact me today to see if I am a good fit for your business. I specialize in creative businesses that use Xero accounting software and I would love to help you out!
Whenever I go look at bookkeeping websites, I wonder about the person behind the screen. Is she real? Does she really care about her clients? If I send a message will I receive one back?
I want to assure you that I AM real. And I DO care for my clients. And I DO reply to emails. Today I’m sharing a look behind my business, as part of the coolest blog tag started by April of Blacksburg Belle.
Question 1: What’s your two to three sentence bio? (You know, ‘what the heck’ do you do?)
Lisa Savage is the bookkeeper for Creative folks. Having experience from her own creative businesses, she now gives advice to new and old Creatives so that they can make money doing what they love.
Question 2: What’s your favorite part of your job?
At the end of a cycle, whether it’s monthly or yearly, I love seeing everything reconciled. I have a great sigh of relief and satisfaction that everything makes sense.
Question 3: What’s your least favorite part of your job?
I dislike the marketing and website upkeep- even though I have ton of help for that, I don’t look forward to it.
Question 4: What are the top three tools you use the most in your work?
My PC, Receipt Bank, Xero
Question 5: What business goal would you love to reach before the end of the year?
I’m having my website fixed up, and that should be done before the end of the year.
Question 6: Who are three creatives that inspire you?
Question 7: What do you listen to (if anything) while you work?
I have a playlist on youtube.. songs from Adele, Pink, Avril Lavigne etc.
Question 8: Morning person or night owl?
Night owl. I’m the last to bed and the last to get up. (on weekends- I have kids to care for during the week, and I let Daddy take care of the weekends. It’s only fair)
Question 9: How many employees do you have and what are the main things they do for you?
None, but I do have contractors working with me, for website and administration duties.
Question 10: What’s your favorite social media platform?
Question 11: What’s your least favorite social media platform?
Question 12: What works best when it comes to marketing your business?
I’m not actually sure. My website has been good to me so far, but I have a ways to go before coming to any conclusions.
Question 13: What’s one thing about your business that your blog readers probably don’t know?
I am very sociable. (that word looks weird to me). I like talking to people, and answering questions they may have.
Question 14: If your business were a fashion accessory, what would it be?
Since I make fashion accessories, I’ll tell you my favorite. Mittens. Lonnnnnggggg mittens that go to the elbow.
Question 15: What’s your top tip for someone who wants to do something similar to you for a career?
Experience is everything. If you want to start bookkeeping for a creative business, start a creative business. It’s the easiest business to start- easy because Etsy has made it easy for someone to open an online shop- and get the experience of keeping your own books going.
Here are a few twitter followers that may like to do this:
This blog post is a part of the ‘Behind the Scenes of My Business’ Blog Tag started by April of Blacksburg Belle. She began this blog tag experiment to build community among creatives, help us bloggers to connect more and get to know each other better. This month’s topic is all about sharing the behind the scenes stuff of our businesses. If you’d like to participate or want more info, check out this post right here.
(Disclaimer: It’s totally cool to NOT participate if I tagged you and you either: don’t want to do it or don’t have the time. You won’t totally crush my feelings.)