Balance Sheet Bookkeeping, LLC

10/30/2026

Three Signs You Have Outgrown Your Bookkeeping System

The spreadsheet that worked fine in year one can quietly become a liability by year three. Here are three signs it's time for something more.

You can't answer "how much cash do I actually have" without logging into three different accounts.

Invoices get sent late, or not at all, because tracking them is a manual process you keep forgetting.

You're the only person who understands how your own system works, which means vacations and sick days put your books on hold.

None of these mean you did anything wrong, it simply means your business grew! This is a good thing! Now it is time to let the bookkeeping catch up. Contact us today to discuss how we can help.

https://balancesheetbookkeepingllc.com/

Balance Sheet Bookkeeping provides expert bookkeeping services for small businesses and nonprofits. Trust us to simplify your finances today!

10/28/2026

What Working With a CFO Advisor Actually Looks Like

"Financial advisory" can sound vague, so here's what it looks like when you work with us.

We meet regularly, usually monthly, to review your numbers together in plain language. We pick the handful of numbers that matter most for your business and track them over time. We look ahead at cash flow so there are no surprises. And we leave every meeting with a short list of decisions and next steps.

Then we check in on progress the next time. That regular rhythm, the check-ins and follow-through, is what makes it feel like coaching rather than a once-a-year report.

No jargon, no 40-page reports you'll never read. Just a clear picture of where you are and a plan for where you're headed. Contact us to schedule your free financial clarity call and start the conversation.

10/26/2026

What is a Chart of Accounts?

Your chart of accounts is the filing system behind every report your business produces, and a messy one quietly wrecks your numbers.

Signs yours needs attention: duplicate accounts for the same vendor, expense categories so broad they tell you nothing ("Miscellaneous" with a huge balance), or income accounts that don't match how you actually think about your revenue streams.

A clean chart of accounts should be simple enough to scan in under a minute and specific enough that your P&L actually means something when you read it.

A chart of accounts (COA) is a document that organizes a company’s financial transactions by category and line item to make accessing financial information easier.

10/21/2026

Why Great Business Owners Still Bring in Outside Advisory

The most successful business owners rarely make every decision alone. They bring in outside advisors, not because they lack talent, but because an outside perspective catches things you can't see from inside your own business.

Business owners are the same story. You're an expert at what you do, whether that's building homes, running a restaurant, or serving clients. But nobody expects you to also be an expert in cash flow forecasting, pricing strategy, and financial planning.

Financial advisory brings three things most owners don't have on their own: an outside perspective, experience across many businesses, and the accountability of someone checking in to make sure the plan actually happens, the same thing good coaching brings in any field.

Wanting that kind of support isn't a sign something is wrong. It's a sign you're serious about where your business is going.

Ready to chat? We offer a free, no obligation, no sales pitch conversation look at your business! We just want to meet you, learn about your business, and offer any support we can.

Balance Sheet Bookkeeping provides expert bookkeeping services for small businesses and nonprofits. Trust us to simplify your finances today!

10/17/2026

Independent Contractor or Employee? Why the Line Matters

Calling someone a 1099 contractor doesn't make them one. The IRS looks at how much control you have over how, when, and where the work gets done, not just what you call the arrangement.

Misclassify a worker and you could owe back payroll taxes, penalties, and interest, sometimes years after the fact.

If you set their schedule, provide their equipment, and the work is central to what your business does, that's a conversation worth having before you issue a 1099 instead of a W-2.

Not sure where your team falls? We're happy to walk through it with you.

10/14/2026

Your Bookkeeper Keeps Score. A Financial Advisor Helps You Win.

In sports, the scoreboard tells you who's winning. It doesn't tell you why, and it doesn't call the next play.

Bookkeeping is your scoreboard. Your bookkeeper records every sale and expense, reconciles your bank and credit card accounts, and delivers a clean P&L and balance sheet each month. That work is essential. Without accurate books, nobody can trust the numbers, including you. This is where a Financial Advisor comes in, acting as a coach for your business to bring you to the next steps.

But a scoreboard can only report the score. Here's what that looks like in a real business:

📊 The scoreboard says revenue was up 12% last quarter.
- The coach asks why profit stayed flat, and finds that materials costs rose faster than your prices did.

📊 The scoreboard says you have $40,000 in the bank.
- The coach points out that payroll, a quarterly tax payment, and a large supplier bill all land in the next six weeks. Your real cushion is closer to $8,000.

📊 The scoreboard says your new service line brought in $60,000.
- The coach breaks it down job by job and shows it's your lowest-margin work once the extra labor hours are counted.

📊 The scoreboard says you had your best month ever.
- The coach asks whether it came from new customers or a few one-time orders, because the answer changes how you staff and spend next quarter.

A coach watches the game film. They sit down with you, spot patterns you can't see from the field, and help you adjust the game plan before the next quarter starts, not after it ends.

You need both. Good coaching starts with accurate books, and accurate books are worth far more when someone helps you put them to work. One keeps score. The other helps you use the score to play better.

What's one number in your business you wish you understood better? Tell us in the comments.

10/14/2026

The Lakes Region Community College Enrichment Program is offering a three-part face to face workshop series for small business owners, and we're proud to be part of it!

Matt and I are both part-time faculty at LRCC, and we'll be teaching alongside our colleague Kelly:

📋 Business Plan Development | Thursday, Nov 5 | with Robin
📊 Financial Statements Made Simple | Tuesday, Nov 10 | with Matt
🧾 Tax Essentials & Planning | Tuesday, Jan 5 | with Kelly

Education is a big part of who we are at Balance Sheet Bookkeeping, LLC, both in the classroom and with our clients. These sessions are practical, approachable, and built for real business owners. Take one or join all three.

Register through LRCC here: https://www.lrcc.edu/programs/personal-enrichment/

We hope to see you there!

Lakes Region Community College offers evening non-credit personal enrichment classes designed for fun, creativity, and personal growth.

10/10/2026

Cash Basis vs. Accrual Basis: What is the difference?

Cash basis accounting records income when you receive it and expenses when you pay them. Simple, and it matches your bank balance.

Accrual basis accounting records income when you earn it and expenses when you incur them, regardless of when money actually changes hands. It gives a more accurate picture of profitability, especially if you invoice customers or carry inventory.

Neither one is "right." The best method depends on your business size, industry, and what the IRS requires once you cross certain revenue thresholds.

Not sure which one your books are actually using? That's a quick thing for us to check. And if you are using Quickbooks, it is easy to see the difference if you shift from one to the other. Here is a short video from Intuit explaining the difference between Cash and Accrual Accounting. https://www.youtube.com/watch?v=ImeaTgoSYH8

Cash vs accrual accounting, explained fast: cash records money when...

10/07/2026

What Is a CFO Advisor, Anyway?

You have seen our postings that we have added CFO Advisory to our list of services, but not everyone knows what that means. We actually hear this a lot: "I know what a bookkeeper does. But what does a CFO advisor do?"

Here's the simplest way to put it. Your bookkeeper records what already happened. A CFO advisor helps you use those numbers to decide what happens next.

Think of it as a financial coach for your business. Big companies have a Chief Financial Officer on staff to guide money decisions. Most small businesses don't need one full time, but they still need someone in that seat. That's the role we play.

This month we're breaking down what that looks like, why it matters, and how to know when it's the right time. Follow along, ask us questions, and see how we can help you to bring your business into the future.

10/05/2026

1099 and W-9 Prep

It's easier to ask a contractor for a W-9 in October than to chase one down in January.

If you've paid any contractor $2,000 (up from $600 in years previous) or more this year, you'll need a completed W-9 on file before you can issue their 1099-NEC. Fall is the perfect time to check your list and send out any requests you're missing.

Comment "W9" below and we'll send you a simple checklist to get started. Until then, you can find the W9 form on the IRS website:

Information about Form W-9, Request for Taxpayer Identification Number (TIN) and Certification, including recent updates, related forms, and instructions on how to file. Form W-9 is used to provide a correct TIN to payers (or brokers) required to file information returns with IRS.