Business Accounting Solutions, LLC, 760 Old Roswell Road, Roswell, GA (2026)

06/29/2022

Quick question for my friends who wear glasses (or contact lenses) -

𝗛𝗼𝘄 𝗼𝗹𝗱 𝘄𝗲𝗿𝗲 𝘆𝗼𝘂 𝘄𝗵𝗲𝗻 𝘆𝗼𝘂 𝘀𝘁𝗮𝗿𝘁𝗲𝗱 𝘄𝗲𝗮𝗿𝗶𝗻𝗴 𝗴𝗹𝗮𝘀𝘀𝗲𝘀? 🤓

Myself, I started wearing glasses when I was 40

And how many pairs of glasses (and updated prescriptions) have you had since then?

Probably quite a few, right?

And I’ll bet if today you tried to put on your first pair of glasses, they’d be -

🕶️ Blurry

🕶️ Uncomfortable

🕶️ And unfashionable 😂

Makes sense, right? Our bodies are always growing and changing (just like our teeth, hence regular cleanings) – so our glasses need to be regularly updated to give us the clearest vision possible, right?

Well - the bookkeeping in your business works the same way 💰

And when your finances aren’t updated, everything in your business starts to get blurry, just like an out-of-date pair of glasses:

❓ You run right into avoidable obstacles, like walls or potholes … or unnecessary late fees and interest charges

❓ And your monthly expenses aren’t in focus – so you end up staying subscribed to recurring expenses you forgot about

However, when your finances are up to date and “in focus”, everything becomes clear:

👀 It’s easy to see which of your revenue streams are the most profitable

👀 And you can see slow seasons coming long before they arrive – and save up beforehand

Just think of your bookkeeping as the “financial glasses” for your business 🤓

The more up-to-date your business finances and bookkeeping are

The more clearly you’ll be able to see your business – and operate it smoothly and profitably 💰

However … maybe your business finances are months (or years) “out of focus” right now

And you know you need some serious help “updating your prescription” so you can start seeing your business (and some profits) again

If that sounds like you – then just reach out ❤️

I help my clients get caught up - and maintain 20/20 vision of their finances – every single day.

And I’d love to help you do the same!

Send me a message on here or Schedule a call Today: https://buff.ly/33Ldg60

06/09/2022

Thinking about applying for a small business loan from a bank – but don’t know where to start?

Then this post is for you 👇

Here are three ways to start preparing for applying for a loan:

(𝟭) 𝗞𝗻𝗼𝘄 𝘄𝗵𝗼 𝘆𝗼𝘂 𝗮𝗿𝗲

First, let’s figure out if a bank will even consider giving you a loan:

❓ How long have you been in business? (Most banks only give loans after 2 years in business)

❓ What’s your credit score? (Business AND personal)

❓ What’s your annual revenue (and profit)?

❓ “Do you have any collateral?” (Like real estate or investments; not always necessary, but helpful)

(Don't think you'll qualify? No worries - there are other financing options, too, like microloans and lines of credit)

(𝟮) 𝗞𝗻𝗼𝘄 𝘄𝗵𝗮𝘁 𝘆𝗼𝘂 𝘄𝗮𝗻𝘁

💰 How much money do you need to borrow?

💰 What do you want to do with this money? (Providing a business plan always looks good to banks!)

(𝟯) 𝗚𝗮𝘁𝗵𝗲𝗿 𝘂𝗽 𝘁𝗵𝗲 𝗻𝗲𝗰𝗲𝘀𝘀𝗮𝗿𝘆 𝗶𝗻𝗳𝗼 𝗮𝗻𝗱 𝗱𝗼𝗰𝘂𝗺𝗲𝗻𝘁𝘀

Every bank has their own (slightly) different list of required documents and information – however, you can get a head start by collecting the following

✅ Business documents (tax ID number, licenses, etc.)

✅ Credit scores (personal and business)

✅ Tax returns (personal and business)

✅ Bank statements

✅ Financial statements (made from up-to-date bookkeeping)

Once you do those three things, you should have a healthy head start on your loan application process, no matter which bank you approach!

And if you want do more reading on how to get prepared, I added a helpful blog in the comments below 👇

And, of course, if you need some help getting your finances together (and updating your bookkeeping!) before approaching a bank, then just reach out ❤️

I help my clients get prepared for loans and financing all the time. And I’d love to help you, too!

Feel free to reach out to me on here or schedule a call with me here: https://buff.ly/33Ldg60

06/07/2022

Nothing’s more irritating than that never-ending stream of Facebook ads for crash diet plans and products, right? 🤮

Especially right after New Year’s … or right before summer vacation:

👙 “𝘓𝘰𝘴𝘦 20 𝘱𝘰𝘶𝘯𝘥𝘴 𝘪𝘯 2 𝘸𝘦𝘦𝘬𝘴!”

👙 “𝘔𝘪𝘳𝘢𝘤𝘭𝘦 𝘥𝘳𝘶𝘨 𝘮𝘦𝘭𝘵𝘴 𝘧𝘢𝘵 – 𝘸𝘩𝘪𝘭𝘦 𝘺𝘰𝘶 𝘬𝘦𝘦𝘱 𝘦𝘢𝘵𝘪𝘯𝘨 𝘢𝘭𝘭 𝘵𝘩𝘦 𝘧𝘰𝘰𝘥𝘴 𝘺𝘰𝘶 𝘭𝘰𝘷𝘦!”

👙 “𝘎𝘦𝘵 𝘣𝘦𝘢𝘤𝘩-𝘣𝘰𝘥𝘺 𝘳𝘦𝘢𝘥𝘺 𝘣𝘦𝘧𝘰𝘳𝘦 𝘣𝘦𝘢𝘤𝘩 𝘴𝘦𝘢𝘴𝘰𝘯 𝘯𝘦𝘹𝘵 𝘮𝘰𝘯𝘵𝘩!”

But when I was looking at those awful ads … I realized that’s exactly what businesses do with their finances every year 🙈

They procrastinate on managing their finances in a healthy way – then end up trying to “crash diet” just before tax time.

But instead of fighting against pounds – you’re fighting against hours:

⏰ Research shows that the average small business spends 15 hours a week on financial admin tasks (like bookkeeping)

⏰ That's 60 hours (!) every month

⏰ And 720 hours (!!) every year

⏰ 𝗙𝗼𝗿 𝗮 𝗴𝗿𝗮𝗻𝗱 𝘁𝗼𝘁𝗮𝗹 𝗼𝗳 𝟯𝟬 𝘄𝗵𝗼𝗹𝗲 𝗗𝗔𝗬𝗦

😳 😳 😳

Can you *really* take off the whole month of March to “crash diet” your finances before the tax deadline?

BUT - ! If you (or your bookkeeper 😉) keep up with healthy monthly bookkeeping habits, tax time be less stressful – and you’ll enjoy perks all year, like:

🥗 Jumping on new business opportunities faster

🥗 Stop paying unnecessary late fees

🥗 Creating more profitable business strategies from actual data with benchmarking and KPI

Just like healthy 𝘄𝗲𝗶𝗴𝗵𝘁 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 leads to daily lifestyle perks like better sleep, more energy, and a clearer head 🧘🏻‍♀️

It’s the same with your 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 💰

So if you’re sick of crash-dieting your finances in a panic at tax time

(And want a piece of those sweet benefits that come with healthy monthly bookkeeping)

Then just reach out ❤️

I help each of my clients enjoy easy and healthy financial management all year round - and I’d love to help you do the same!

Book a call with me here: https://buff.ly/33Ldg60

05/31/2022

When you’re talking to a new potential patient – how do you communicate to them that you are *the best* choice to help them with their problem?

🎓 Maybe you tell them about a college degree or specific certification you’ve earned

📆 Probably mention how many years of experience you have

📙 It definitely doesn’t hurt to share some of the results you’ve achieved for other patients

😍 And, of course, a raving testimonial or 2 from previous patients

That’s what you share with them – because you know that’s what YOU look for when you’re hiring someone new

You wanna know that someone has earned their stripes 🐅 and REALLY know what they’re doing 🧠 before you hire them

After all, you wouldn’t trust your business financials to Chad the high school intern at your accountant’s office, right? 😜

If someone’s going to help you manage your hard-earned money and help you prepare for your taxes, you want them to be *the best*

And if you’re looking for someone like that to help you with your business bookkeeping and finances … let’s just say that I’ve earned a few stripes 👇

🎓 I graduated top of my class earning my BA in Accounting. I am also a certified LivePlan Expert Advisor, QBO ProAdvisor, and CFO Advisor.

📆 I have over 20 years’ experience working as a Controller and CFO for a wide variety of corporations. I started my dental career right after high school wanting to become a hygienist and quickly realized I had a passion for the business side and went to college.

📙 Recently I helped a client catch up on a 3-year backlog before the tax due date and cut in half the amount they owed at tax time, thanks to finding extra tax deductible expenses they missed

😍 And you don’t just have to take my word for it – here’s a testimonial from one of my clients:

“My biggest challenge was staying organized and up to date. I had been using old school QuickBooks Desktop for years and doing my own books. As Randi can attest, I had things placed in incorrect categories, was several months behind in balancing my statements, and just really had no idea of my profitability. Randi's team is a lifesaver! They save me so much time and give me peace of mind. Do yourself a favor and sign up with BAS4Dental now! I wish I had done it sooner.”

And that’s exactly the kind of expert help (and results) that I’d love to give you and your business, too

So when you’re ready to receive *the best* financial help for your business – just like you provide *the best* level of service for your patients – then just reach out 💰

I can’t wait to help!

Feel free to reach out to me on here or schedule a call with me using my calendar link here: https://buff.ly/33Ldg60

05/26/2022

How many times have you heard this story? 👇

🩺 Person A goes to the doctor for a routine exam.

👩🏽‍⚕️ Doctor notices a discolored mole.

🧪 Doctor runs an extra test and BOOM – turns out Person A has skin cancer.

💊 BUT, since they caught it early, Person A is gonna be fine

All because of a routine check-up - !

It’s a good lesson. And it applies to the financial health of your business, too. 😉

Let’s go back to the doctor’s exam. That visit is a snapshot, evaluating your health from multiple data points, like:

📊 Blood sugar tests

📊 Weight measurements

📊 And habits (like smoking)

That’s what a 𝗯𝗮𝗹𝗮𝗻𝗰𝗲 𝘀𝗵𝗲𝗲𝘁 𝗿𝗲𝗽𝗼𝗿𝘁 is for your business – a snapshot of your financial health, pulled from multiple data points. It measures:

𝗬𝗼𝘂𝗿 𝗔𝘀𝘀𝗲𝘁𝘀 (what you OWN) like:

✅ Equipment

✅ Investments

✅ Cash

𝗬𝗼𝘂𝗿 𝗟𝗶𝗮𝗯𝗶𝗹𝗶𝘁𝗶𝗲𝘀 (what you OWE) like:

❌ Bank loans

❌ Credit card debt

❌ Unpaid bills

And adds it all together to show 𝘆𝗼𝘂𝗿 𝗲𝗾𝘂𝗶𝘁𝘆 (your business worth)

And answer the question:

🤔 “Is my business healthy? … Or in trouble, and in need of some changes?”

Remember how that routine doctor visit caught the skin cancer early?

In the same way, running quarterly balance sheets can help you catch small financial problems … before they become BIG bankruptcy-sized problems - !

And if you wanna learn more about balance sheets and how to create them, I shared a helpful blog below 👇

And, of course, if you feel like you’re overdue for a “routine exam” with your business finances, but need some help navigating that process – then just reach out ❤️

I create (and interpret) key financial reports like these for my clients alllll the time 😉 And I’d love to help create these reports for you, too!

Schedule a call with me today using my calendar link here: https://buff.ly/33Ldg60

05/19/2022

What’s the chore you 𝙃𝘼𝙏𝙀 the most?

Laundry? 🧺 Dish-washing? 🍽️ Taking out the trash?

For me, it’s DEFINITELY cleaning my floors!! 🧹

Now other chores, like cleaning the kitchen or laundry

Those aren’t so bad

(In fact, I kinda like how warm the clothes are when they come out of the dryer or catching up on phone calls with friends while I’m cleaning the kitchen after dinner)

But cleaning my floors??

I’d rather stick a fork in my eye 🍴

But, unfortunately, someone’s gotta do it – or else my entire house is nasty and black dirty bottom feet, right?

It’s the same thing in our businesses

Just like in our personal lives, we have business “chores”, like:

📱 Writing posts for social media

💸 Paying your vendors’ bills on time

📧 Replying to client emails

(Personally my LEAST favorite “business chore” is writing posts for social media…)

But for you – that business chore you HATE the most might be bookkeeping

And maybe - just like me and cleaning my floors - you’d rather stick a fork in your eye 🍴 than open QuickBooks or reconcile your bank statements

But still, ya gotta get it done – or you’ll end up with some nasty financial consequences 💰

Consequences that are the financial equivalent of an overflowing garbage can 🤢

Consequences like:

🤢 Paying unnecessary fees for overdrafts and late payments, or

🤢 Missing out on opportunities – because you needed to update your (way outdated) finances before you could get that crucial loan

But here’s the good news:

𝙔𝙤𝙪 𝙙𝙤𝙣'𝙩 𝙝𝙖𝙫𝙚 𝙩𝙤 𝙗𝙚 𝙩𝙝𝙚 𝙤𝙣𝙚 𝙩𝙤 𝙙𝙤 𝙞𝙩

Remember that chore I hate?

Sometimes I get my housecleaner to do it for me 😜

I don’t need to be the one who cleaning the floors

All that matters is that SOMEONE does it (and does it well)

So -

If bookkeeping for your business makes you want to stick a fork in your eye 🍴

Then just reach out ❤️

This happens to be my all-time favorite “business chore” 🤓

And I’d love to help you can get back to the work you actually *like* to do 😉

Schedule a call with me today for my free consult using my calendar link here: https://buff.ly/33Ldg60

05/16/2022

Picture a lake 🌊 A big beautiful mountain lake 🏔️

This particular lake stays full because 3 rivers flow into it

Now - how do you measure which river fills the lake the most?

𝗘𝗮𝘀𝘆 - 𝘆𝗼𝘂 𝗿𝘂𝗻 𝗮 𝗰𝗮𝘀𝗵 𝗳𝗹𝗼𝘄 𝗿𝗲𝗽𝗼𝗿𝘁! 🤑

OK, OK, so maybe that technique doesn’t work for mountain lake water-flow 💧

But it DOES work for your business cash-flow 💵

And, just like that mountain lake, your business has 3 “rivers” of money flowing in:

🌊 𝗥𝗶𝘃𝗲𝗿 𝟭: 𝗢𝗽𝗲𝗿𝗮𝘁𝗶𝗻𝗴

This is the money you make from selling your products and services

🌊 𝗥𝗶𝘃𝗲𝗿 𝟮: 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁𝘀

This is the money your company makes from purchasing equipment or investing in other companies

🌊 𝗥𝗶𝘃𝗲𝗿 𝟯: 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗻𝗴

This is the cash you earn (and spend) in the course of financing your company (loans, lines of credit, owner’s equity)

All of these “rivers” help keep the lake full so you can do things like pay your payroll

However it’s REALLY important to know which river is contributing the most money to your business

Here’s why:

💵 Going through a slow season? A cash flow report can tell you if you need extra cash from the “Financing River”

💵 Before giving you a loan, a bank wants proof that your “Operating River” is the main source of your cash flow

💵 Want to make (profitable) long-term plans? This is the report you need for future cash flow projections

Of course, a single social media post isn’t enough to cover everything 😜 so I shared a helpful article below 👇

And, of course, if you feel like you need more reports like this in your life – but don’t know how to create one – then just reach out ❤️

I create financial reports like these all. the. time. for my clients. And I’d love to help you, too!

Book a call with me Today using my calendar link here: https://buff.ly/33Ldg60

05/12/2022

When it comes to your business financials, are you an African grey parrot? 🦜

Or a headless chicken? 🐓

Yes, it’s a silly question 😉 but an important one

It's easy (and common) to back-burner your finances after tax season

But without up-to-date bookkeeping data put in every month, your business financials are as dumb as a headless bird 🐓

Here’s what your business looks like as a “headless chicken”, without monthly bookkeeping:

🐓 𝗟𝗮𝘁𝗲 𝗰𝗹𝗶𝗲𝗻𝘁 𝗽𝗮𝘆𝗺𝗲𝗻𝘁𝘀 because your invoicing is inconsistent

🐓 𝗨𝗻𝗵𝗮𝗽𝗽𝘆 𝘃𝗲𝗻𝗱𝗼𝗿𝘀 who get paid late – and won’t be flexible if you wanna negotiate terms later

🐓 𝗠𝗶𝘀𝘀𝗲𝗱 𝗼𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀 because, when a buyer for your company came knocking, your finances were out-of-date

🐓 𝗚𝘂𝗲𝘀𝘀𝗶𝗻𝗴 𝘁𝗵𝗲 𝗮𝗻𝘀𝘄𝗲𝗿𝘀 to questions like “Can I afford to hire another employee?" and getting it wrong

🐓 𝗛𝗶𝗴𝗵𝗲𝗿 𝗲𝘅𝗽𝗲𝗻𝘀𝗲𝘀 because you’re paying avoidable fees like overdraft and late fees

Meanwhile, here’s what your business looks like as an African grey parrot (one of the smartest birds around) when you DO keep up with monthly bookkeeping:

🦜 Better cash flow (and profit margin!)

🦜 Data-based strategies, not guesses

🦜 Ready to jump on every opportunity

And – BONUS – none of the “crash diet” stress that comes with catching up your finances at the last minute for tax season! 😉

Sounds pretty smart to me 🦜

The only difference?

𝘒𝘦𝘦𝘱𝘪𝘯𝘨 𝘶𝘱 𝘸𝘪𝘵𝘩 𝘺𝘰𝘶𝘳 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴 𝘣𝘰𝘰𝘬𝘬𝘦𝘦𝘱𝘪𝘯𝘨 𝘦𝘷𝘦𝘳𝘺 𝘴𝘪𝘯𝘨𝘭𝘦 𝘮𝘰𝘯𝘵𝘩, 𝘪𝘯𝘴𝘵𝘦𝘢𝘥 𝘰𝘧 𝘱𝘳𝘰𝘤𝘳𝘢𝘴𝘵𝘪𝘯𝘢𝘵𝘪𝘯𝘨 𝘶𝘯𝘵𝘪𝘭 𝘵𝘢𝘹 𝘴𝘦𝘢𝘴𝘰𝘯 𝘤𝘰𝘮𝘦𝘴 (𝘢𝘨𝘢𝘪𝘯!)

So if you’re ready to ditch those “headless chicken” ways 🐓

But need a little help keeping up with the smart habit 🦜 of monthly bookkeeping (and all its benefits)

Then just reach out ❤️

This is exactly how I help all of my clients have “smart” financials all year round – and I’d love to do the same for you!

Feel free to message me on here or
Schedule a call with me here: https://buff.ly/33Ldg60

05/10/2022

Did you know that Profit + Loss reports are important for your business *every* month of the year – not just for taxes in April? 🤔

Here's 5 reasons why a Profit + Loss report is useful year-round 👇

(𝟭) 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗻𝗴 𝗛𝗲𝗹𝗽

Need to apply for a business loan? The bank will ask for it!

(𝟮) 𝗣𝗹𝗮𝗻𝗻𝗶𝗻𝗴 𝗳𝗼𝗿 𝗦𝗹𝗼𝘄 𝗦𝗲𝗮𝘀𝗼𝗻𝘀

When you use previous P+L reports to compare years side by side, you can spot patterns. If summer is always your most profitable season, set aside a portion to cover for your slower months in the fall.

(𝟯) 𝗕𝘂𝗱𝗴𝗲𝘁𝗶𝗻𝗴 𝗳𝗼𝗿 𝗕𝗶𝗴 𝗘𝘅𝗽𝗲𝗻𝘀𝗲𝘀

Irregular bills, like annual accountant bills, are easy to forget. When you check last year’s P+L report, you’ll remember the "irregulars" and be able to budget for them.

(𝟰) 𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗶𝗻𝗴 𝗣𝗿𝗼𝗳𝗶𝘁𝗮𝗯𝗶𝗹𝗶𝘁𝘆

Which of your business’ revenue streams is the most profitable? Do you have any expenses that can be eliminated? This report helps you spot those patterns

(𝟱) 𝗦𝗲𝗹𝗹𝗶𝗻𝗴 𝗬𝗼𝘂𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀

If a buyer wants to purchase your company, they need up-to-date financial reports before they buy!

See?

Profit + Loss Reports - and up-to-date bookkeeping - are valuable tools that can help your business thrive year-round!

(P.S. I also added a helpful link in the comments below if you wanna learn more 👇)

And of course, if you ever need help figuring out how to run a Profit + Loss Report for your business

(Or even just entering all that necessary data to make the report useful to begin with - !)

Then just reach out – I create and interpret reports like this for my clients all the time, and I’d love to do the same for you! ❤️

Feel free to contact me on here or book a call with me using my calendar link
👉 https://buff.ly/33Ldg60

05/05/2022

You can’t have a beautiful orange drizzle cake without oranges, right? 🍊

And you definitely can’t make tart lemon bars without fresh lemon juice 🍋

And pumpkin cookies? You’ve GOTTA have that canned pumpkin goodness 🎃

BUT –

Do you know what you *also* need for each and every one of those recipes?

🧂 Salt
🌾 Flour
🍳 And Eggs

True, they aren’t exactly the “sexy” ingredients

But they’re the building blocks of every good baked treat

(Unless you’re vegan or gluten-free or something … but then you still need to use soy milk or something, right … ?)

Anyways 😅

Even though the oranges and lemons and pumpkins give these recipes their “essence”

You simply can’t have a cake without those boring building block ingredients, too 🧂 🌾 🍳

And guess what?

You, and your business, are exactly the same way.

You and your specific business services are the delicious essence of your business – the beautiful orange glaze 🍊

But you still need the boring basics 🧂 🌾 🍳 to have a cake at all.

And one of those boring basics in your business -

Is good bookkeeping 🤓

I know – it’s not a “sexy” business ingredient. But it’s still essential:

🧂 Monthly reconciliations help protect you from overdraft charges (and unhappy vendors!)

🌾 Up-to-date financial reports help you create (actually) profitable business strategies

🍳 And tax season prep will be a blip on your radar, instead of an annual crisis

The orange glaze by itself doesn’t make an orange cake 🍊

It all works together – from the salt to the orange glaze - so you can have a perfectly-balanced recipe for success 😉

(OK, OK, cheesy, I know – but you know I’m right!)

And I get it – you’re not a boring basic ingredient: you’re the orange 🍊 the lemon 🍋 the pumpkin 🎃

That’s who you are – you’re the essence!

But if you know you need some help with the boring basics in your business

Like bookkeeping 🤓

Then just reach out ❤️

I love taking care of the boring basics for my clients 🧂 🌾 🍳

So they can focus more on the things they’re best at, and that make their businesses so special 🍊 🍋 🎃

And I’d love to do the same for you, too!

Schedule a call with me here 👉https://buff.ly/33Ldg60

05/03/2022

Ever wonder how much money – and for what things – you should be setting aside and saving for your business? 🤔

Maybe you just finished a rough tax season and you’re trying to avoid repeating that painful price tag on procrastination for next year … ? 😬

So - let’s talk about WHY it matters to save consistently, HOW MUCH to save, and some tips on HOW to make it easier:

(𝟭) 𝗘𝗠𝗘𝗥𝗚𝗘𝗡𝗖𝗜𝗘𝗦

👉 This could include anything unexpected, from equipment breaking down, to loss of a major client, or even a fire in your building.

💵 In an ideal world, your goal should be to save up enough to cover 3-6 months of your monthly business expenses (like rent and payroll, etc.) in order to give yourself some time to recover without losing your business.

(𝟮) 𝗜𝗥𝗥𝗘𝗚𝗨𝗟𝗔𝗥 𝗘𝗫𝗣𝗘𝗡𝗦𝗘𝗦

👉 This is pretty much anything outside of your recurring monthly bills, and could include anything from updating business equipment to annual accountant bills

💵 Look back at your business expenses over the past year or two. What did your “irregular expenses” add up to over a full year? Divide that number by 12, and try to set aside that amount every month

(𝟯) 𝗧𝗔𝗫 𝗣𝗔𝗬𝗠𝗘𝗡𝗧𝗦

👉 Somehow those estimated quarterly payments always seem to sneak up on us, right? They’ll be far less painful to handle if you save up for this consistently throughout the year!

💵 Make it a habit to always set aside a percentage of your profit; the amount depends on your business, but 30% of your gross income is a good place to start.

(𝟰) 𝗦𝗟𝗢𝗪 𝗦𝗘𝗔𝗦𝗢𝗡𝗦

👉 Maybe Christmas is a boom season for your business – and then you see a big lag in business after the holidays end. Make sure to protect yourself during those slow months by saving up while business is booming.

💵 How long is your “slow season”? Do you still make some money during the slow months, or none at all? And what’s the total of your monthly operating expenses? Use that info to create a savings goal during your busy season!

(𝟱) 𝗙𝗨𝗧𝗨𝗥𝗘 𝗢𝗣𝗣𝗢𝗥𝗧𝗨𝗡𝗜𝗧𝗜𝗘𝗦

👉 You can never be sure when a business opportunity will pop up – so try to keep a chunk of money set aside just for this. If you need a business loan in the future, not only will it lower your amount of debt, it could improve your chance of getting the loan in the first place (banks like seeing that you can save up!)

💵 What are your goals for your business for the next 1-5 years? Do you want to update your equipment, buy a brick-and-mortar office space, etc.? Your goals will affect how aggressively (and how much) you want to save up

𝗣𝗟𝗨𝗦 - 𝗔 𝗙𝗘𝗪 𝗣𝗥𝗔𝗖𝗧𝗜𝗖𝗔𝗟 𝗧𝗜𝗣𝗦 𝗢𝗡 𝗛𝗢𝗪 𝗧𝗢 𝗦𝗔𝗩𝗘 𝗕𝗘𝗧𝗧𝗘𝗥 👇

✅ Set up automated savings transfers on a weekly or monthly basis

✅ Have multiple savings goals or needs? Set up multiple accounts to help you stay organized

✅ Aim for progress, not perfection – if you need to start small, then start small! As long as you start and stay consistent

That’s not an exhaustive list of course, but hopefully, that’ll help you get started! ❤️

And, of course, if you feel overwhelmed and feel like you need some extra help figuring out a budget and plan for your business savings – then just reach out

I help my clients plan for this stuff all the time. And I’d love to help you, too!

Feel free to reach out to me on here or my calendar link below:

https://buff.ly/33Ldg60

Business Accounting Solutions, LLC

06/29/2022

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