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Being a small business owner or entrepreneur can be overwhelming at times! With so many tasks to tackle, falling behind on office work is inevitable. You're not alone! Many of our clients come to us a few months behind on their books. Today we're revealing a few simple ways you can get-up-to-date on your bookkeeping.
Start by Organizing Your Financial Records
The first step to catching up on your bookkeeping is to get organized! You'll want to start compiling and organizing invoices you sent to customers, receipts, bank and credit card statements where you made purchases that are business expenses. Now is also an excellent time to review any outstanding invoices and collect on that debt.
Separate Personal and Business Expenses
We always advise our clients to keep their personal and business expenses separate. Co-mingling business and personal expenses may result in you being held personally liable for your business's debt and financial standing. As your organizing, be sure to separate your expenses.
Next, you can log in to your accounting software and reconcile these expenses with your bank statements. This is one of the most crucial steps in preparing for tax filing next year, so be sure to take care when matching records.
Want to stress-less and be sure you don't fall behind on your bookkeeping again? Feel free to reach out to us at firstname.lastname@example.org and let us handle your books.
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We're extremely excited to welcome Left of Center Productions to Capri Bookkeeping Solutions! Left of Center Productions (LOCP) is a full service Entertainment Agency that works with the most popular artists of today as well as those from the past. Covering all genres of music, comedy, guest speakers, celebrities, sports and public figures, (LOCP) is an innovative agency that works with of the most relevant artists of today. We recently sat down with Linda Lewis, Founder of Left of Center Productions and Talent Agent, to learn more about the agency, their talented clients and insights on being a small business owner today.
Q. What's your biggest challenge as a small business owner?
Keeping our business going with a smaller staff and keeping morale high since all of our 2020 ‘Live’ Events have been canceled. Our goal is to continue to give our clients the same level of attention as we did before Covid 19, to ensure that their events are a success. With a smaller staff and limited resources, we have realized that our relationships are what matter. When you believe in what you are doing 150% then it gives you the motivation to work harder. We are optimistic that we will come through this, though and hopefully incorporate the positives aspects of doing an event virtually with the live events once we are on the other side of Covid 19.
Q. Why did you decide to seek bookkeeping services for your practice?
Before Covid-19, our business was beginning to grow to the point that we felt we needed help. We found that our small staff of four did not have the time or expertise to meet the demands of our growing business.
Q. Tell us about your experience working with Capri so far?
One of the best decisions we made for our business was working with Capri. Andrea and Natalie jumped right in and helped us create a workflow with our accounts that made sense and was much more efficient. This allowed us to focus on other aspects of the business in order to continue to grow. They have given us peace of mind and have taught us so much about bookkeeping, which has been invaluable!