In years past gathering my financial data for my accountant was a 2-3 day affair.
I just finished that entire process in just about 2 hours.
Part of the reason it went so fast this time, was because I’ve been keeping business books with QuickBooks online for my businesses.
Instead of spending hours trying to gather and categorize income and expenses, I just went to my QuickBooks Online account and saved a Profit And Loss statement for the year, and emailed it to my accountant.
BAM!
So much time saved.
You may not know this because we don’t promote it much, but there is an entire Quickbooks online module inside The Financial Literacy Academy.
(just one of the many awesome parts of that product)
I bought several courses and scoured the internet when I was first trying to figure out how to use Quickbooks and the main problem I kept running into was,
…it felt like they were speaking a foreign language to me and it seemed like I had to have an accounting degree to understand what they heck they were saying.
I just wanted someone to explain it in simple language and show me how to get up and running.
That’s why we created the quick books online modules in our 2nd core product.
They are perfect for helping someone (who’s not an accountant) get started tracking income & expenses with QuickBookOnline.
I’ve used lots of different tracking programs.
2 things I love about this particular tracking program is
- 1) it’s super inexpensive when you buy the right package and
- 2) you can upload all of your receipts right into their program so if you ever get audited, all your proof is right there in you back office.
Peace of mind!
PS – As a home business owner why might you want to consider doing your own books?
One Reason is that by reviewing your money once a week or once a month – you’ll stay connected to your money vs. disconnected.
You’ll have a great pulse on what expenses need to be cut and this is helpful for maintaining a healthy cash flow.
I recently got an email from a lady who had been paying for a monthly charge for like 4 years and didn’t even know she was paying for that charge.
I’ve done things like that before too.
If you’re keeping your own books- that is VERY unlikely to ever happen.
Another reason is that no one is every going to watch your money like you’ll watch your money.
My business partner paid double the amount in taxes he was supposed to a couple years ago because his book keeper was double entering his income.
WHAT!?
Yes! Crazy right?
Of course you don’t have to keep your own books, but even if you have someone else doing it – it’s not a bad idea to understand the process.
I went a couple years having someone else do my books for me and I was always so confused when I tried to make sense of the data because I had no clue what was happening behind the scenes.
Your books don’t help you if you don’t understand them.
There is SO much value in The Financial Literacy Academy.
It’s one of my favorite products to share with people because I know it can be SOOO life changing.
A real freedom enhancer.
If this is a product that resonates with you, you might consider joining the Home Business Academy first, so you can get a HUGE discount from the retail price of this product.