You are in the Shoebox Phase!
Are reciepts, transactions, profits and losses out of sight and out of mind?
It’s likely your business ins’t tax ready, and the thought of tracking expenses is frustrating, or intimidating so it’s put off, or ignored. The good news is there are simple steps we’ve outlined below that will help you move toward more control over your business finances.
Learn the right next steps…
To go from accounting overwhelm to total control over your business finances.
Next Steps from Shoebox to the Bookkeeper Phase!
Start keeping your books in an easy to use, collaborative cloud-based system.
If you are in the shoebox phase, the most important thing you can do is start to regularly reconcile your business transactions. It’s never been easier to do this. Software like Xero connects to your bank accounts and allows you to do this online or via a mobile app. And if that’s still too much, outsourcing your bookkeeping has gotten more affordable as well.
1. Clean Up
The first step is exactly what it sounds like. Take the time to get organized, take inventory of any financial accounts you have, and how to access them. Then do the work of reconciling past transactions. The longer you wait the more anxious you’ll feel. Trust me this doesn’t have to be as big of a project as it might be in your head. Software like Xero can connect directly to your bank account to pull in data in real-time.
Stay consistent in recording your transactions. We use Xero and it’s super simple. You can record transactions from your phone, by simply taking pictures of your receipts. Bookkeeping isn’t an afterthought. It needs to be integrated into your business consistently whether you do it, have a staff member handle it, or outsource it altogether.
Lastly, is collaboration. We use Xero Cloud accounting software because it allows you to collaborate with other staff members who can help you with bookkeeping or directly with our firm for CPA oversight at any time. This means when it’s time to file, your CPA has everything at their fingertips.
Could 30 minutes change the course of your business finances?
Marcus Mire, CPA | Founder of MireGroup CPAs
Schedule a 1 on 1 meeting with Marcus Mire to discover the next steps to go from accounting overwhelm to total control over your business finances.
If you want a more in-depth look at your exact business and how the Total Control Accounting system can help you, I offer a one on one consultation that gives you a comprehensive plan on the software, tools, and team it would take to get your business running at the CEO level. It’s $50 for a 30 minute consult, and if you haven’t gotten 10x the value at the end of that meeting then you’ll get your money back.