The Boutique Bookkeeper Show | Know Your Numbers & Prepare For Taxes

040. How to Find the Break-Even Point for Your Boutique

Ever feel like you're making plenty of sales but you still can't say whether your boutique is actually profitable? In this episode, I'm walking you through how to find the break-even point for your boutique, which is the exact number of net product sales you need to cover all your costs. Then I show you how to turn that number into a SMART sales goal built on YOUR real numbers, including one extra step most boutique owners miss when they've got a business loan. Grab a notebook, a pen, and your calculator for this one.   Ready to take your learning a step further? Register for my Free Masterclass, Make Your Money Make Sense! Where you'll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system. Sign up now: www.findingfreedomfinancial.com/masterclass [https://www.findingfreedomfinancial.com/masterclass]   Other Ways to Work With Me: * Need to get your bookkeeping caught up or cleaned up? Sometimes you just need a clean starting point so you can take it over yourself. Apply to work with us at www.findingfreedomfinancial.com/contact [https://www.findingfreedomfinancial.com/contact] and we'll get your books up to date and ready to hand off. * Need some support as you do you own bookkeeping? Then I wanna invite you to join me inside of the Bookkeeping Made Simple for Boutiques Membership, where you can get trainings & support to help you feel confident as you manage the money-stuff yourself. Using Quickbooks Online, I walk you through through the exact setup & process you need to implement everything for accurate and EASY bookkeeping all year long - no more tax time scramble! Join us at www.findingfreedomfinancial.com/membership [https://www.findingfreedomfinancial.com/membership] * Are you a Shopify seller who's not quite ready to invest in a bookkeeping software like Quickbooks? Don't worry - I got you! I've created a custom Shopify Seller Income & Expense Tracker that you can use to easily enter each transaction coming in and out of your business, along with your sales data coming directly from Shopify to put together a standard P&L (Income Statement) that you can hand over to your tax preparer. Download your copy at www.findingfreedomfinancial.com/spreadsheet [https://www.findingfreedomfinancial.com/spreadsheet]   Prefer to learn while you read? Check out the blog post for this episode: http://findingfreedomfinancial.com/calculating-your-break-even-point/ [http://findingfreedomfinancial.com/calculating-your-break-even-point/]   Related Episodes & Resources Mentioned: * Episode 31: The Inventory and COGS Mistake That's Hiding Your Real Profit [https://pod.link/1831830735/episode/Ym91dGlxdWVib29ra2VlcGVyc2hvdy5wb2RiZWFuLmNvbS81MDgzYWEyZS03OGJkLTNkYTUtODE0MC1mNzVlZWY3ZDFjZTM?view=apps&sort=popularity] * Episode 8: Understanding the Income Statement for Your Boutique [https://pod.link/1831830735/episode/Ym91dGlxdWVib29ra2VlcGVyc2hvdy5wb2RiZWFuLmNvbS8wYTg1NzhhNi1iM2I2LTNjMjktODFkNi03MWJkMzQ3NjA3N2Y?view=apps&sort=popularity]

039. Bookkeeping for Beginners: A New Boutique Owner's Guide

Starting your boutique and not sure what bookkeeping even means? Welcome to bookkeeping for beginners! In this episode, we are walking through exactly what bookkeeping is (and what it is not), plus the few simple things every brand new boutique owner should set up right from the start. You will learn why separating your business and personal finances matters so much, how to pick a system you can stick with, and the one weekly habit that keeps tax season from ever becoming a scramble. No overwhelm, no math degree required, just a clean and confident start.   Ready to take your learning a step further? Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system. Sign up now: www.findingfreedomfinancial.com/masterclass [https://www.findingfreedomfinancial.com/masterclass]   Other Ways to Work With Me: * Need to get your bookkeeping caught up or cleaned up? Sometimes you just need a clean starting point so you can take it over yourself. Apply to work with us at www.findingfreedomfinancial.com/contact [https://www.findingfreedomfinancial.com/contact] and we’ll get your books up to date and ready to hand off. * Need some support as you do you own bookkeeping? Then I wanna invite you to join me inside of the Bookkeeping Made Simple for Boutiques Membership, where you can get trainings & support to help you feel confident as you manage the money-stuff yourself. Using Quickbooks Online, I walk you through through the exact setup & process you need to implement everything for accurate and EASY bookkeeping all year long - no more tax time scramble! Join us at www.findingfreedomfinancial.com/membership [https://www.findingfreedomfinancial.com/membership] * Are you a Shopify seller who’s not quite ready to invest in a bookkeeping software like Quickbooks? Don’t worry - I got you! I’ve created a custom Shopify Seller Income & Expense Tracker that you can use to easily enter each transaction coming in and out of your business, along with your sales data coming directly from Shopify to put together a standard P&L (Income Statement) that you can hand over to your tax preparer. Download your copy at www.findingfreedomfinancial.com/spreadsheet [https://www.findingfreedomfinancial.com/spreadsheet]   Prefer to learn while you read? Check out the blog post for this episode: http://findingfreedomfinancial.com/how-to-do-your-own-bookkeeping/ [http://findingfreedomfinancial.com/how-to-do-your-own-bookkeeping/]   Related Episodes & Resources Mentioned: * Episode 3 | How to Get Started with QuickBooks Online: Listen here [https://pod.link/1831830735/episode/Ym91dGlxdWVib29ra2VlcGVyc2hvdy5wb2RiZWFuLmNvbS9lNGU2OWY3Ni02OGU0LTM1MTEtODkwNi1mZTc3YmNhYWY4Mzg?view=apps&sort=popularity] * Episode 18 | 3 QuickBooks Online Features That Will Save You HOURS Each Month (Plus 1 to Avoid): Listen here [https://pod.link/1831830735/episode/Ym91dGlxdWVib29ra2VlcGVyc2hvdy5wb2RiZWFuLmNvbS8zZTMzZjE1Ni1lNmQ0LTNkMDEtOTJlNy05MDBhZjAxMzcxMTY?view=apps&sort=popularity] * Ready to sign up for QuickBooks Online? Use my link: www.findingfreedomfinancial.com/qbo [https://www.findingfreedomfinancial.com/qbo] (I may earn a small commission, at no extra cost to you.) * Shopify Seller Income & Expense Spreadsheet: www.findingfreedomfinancial.com/spreadsheet [https://www.findingfreedomfinancial.com/spreadsheet]

038. 6 Free Bookkeeping Resources for Boutique Owners

Most boutique owners don't avoid their bookkeeping because they're lazy. They avoid it because nobody ever handed them a roadmap. In this episode, I'm walking you through six free bookkeeping resources that meet you wherever you're stuck right now, in the exact order you'd actually use them. We start with the most common bookkeeping questions answered in plain English, move into knowing what you can deduct on your taxes, avoiding the most common bookkeeping mistakes, building a solid foundation with a boutique-specific chart of accounts, learning to actually READ your financial reports, and finally getting a handle on your cash flow with Profit First. You don't have to grab all six today. You just need to know which one matches where you are.   Ready to take your learning a step further? Register for my Free Masterclass, Make Your Money Make Sense! Where you'll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system. Sign up now: www.findingfreedomfinancial.com/masterclass [https://www.findingfreedomfinancial.com/masterclass]   Other Ways to Work With Me: * Need to get your bookkeeping caught up or cleaned up? Sometimes you just need a clean starting point so you can take it over yourself. Apply to work with us at www.findingfreedomfinancial.com/contact [https://www.findingfreedomfinancial.com/contact] and we'll get your books up to date and ready to hand off. * Need some support as you do you own bookkeeping? Then I wanna invite you to join me inside of the Bookkeeping Made Simple for Boutiques Membership, where you can get trainings & support to help you feel confident as you manage the money-stuff yourself. Using Quickbooks Online, I walk you through through the exact setup & process you need to implement everything for accurate and EASY bookkeeping all year long - no more tax time scramble! Join us at www.findingfreedomfinancial.com/membership [https://www.findingfreedomfinancial.com/membership] * Are you a Shopify seller who's not quite ready to invest in a bookkeeping software like Quickbooks? Don't worry - I got you! I've created a custom Shopify Seller Income & Expense Tracker that you can use to easily enter each transaction coming in and out of your business, along with your sales data coming directly from Shopify to put together a standard P&L (Income Statement) that you can hand over to your tax preparer. Download your copy at www.findingfreedomfinancial.com/spreadsheet [https://www.findingfreedomfinancial.com/spreadsheet]   Prefer to learn while you read? Check out the blog post for this episode: https://findingfreedomfinancial.com/bookkeeping-resources/ [https://findingfreedomfinancial.com/bookkeeping-resources/]   Related Episodes & Resources Mentioned: * Boutique Bookkeeping Guide: www.findingfreedomfinancial.com/guide [https://www.findingfreedomfinancial.com/guide] * Tax Deduction Guide for Boutique Owners: www.findingfreedomfinancial.com/deductions [https://www.findingfreedomfinancial.com/deductions] * 5 Mistakes to Avoid in Your Boutique Bookkeeping: www.findingfreedomfinancial.com/mistakes [https://www.findingfreedomfinancial.com/mistakes] * Chart of Accounts Template: www.findingfreedomfinancial.com/coa-template [https://www.findingfreedomfinancial.com/coa-template] * Make Your Money Make Sense Masterclass: www.findingfreedomfinancial.com/masterclass [https://www.findingfreedomfinancial.com/masterclass] * Profit First Template: www.findingfreedomfinancial.com/profit-first-template [https://www.findingfreedomfinancial.com/profit-first-template]

037. 8 Questions to Ask When Hiring a Bookkeeper (+ Red Flag Answers)

Hiring a bookkeeper for your boutique is a big decision, and most boutique owners go into that conversation without knowing what to ask. In this episode, I’m walking you through 8 specific questions to ask when hiring a bookkeeper, what a good answer looks like for each one, and the red flags that should send you running before you hand over access to your financial accounts.   Ready to take your learning a step further? Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system. Sign up now: www.findingfreedomfinancial.com/masterclass [https://www.findingfreedomfinancial.com/masterclass]   Other Ways to Work With Me: * Need to get your bookkeeping caught up or cleaned up? Sometimes you just need a clean starting point so you can take it over yourself. Apply to work with us at www.findingfreedomfinancial.com/contact [https://www.findingfreedomfinancial.com/contact] and we’ll get your books up to date and ready to hand off. * Need some support as you do your own bookkeeping? Then I wanna invite you to join me inside of the Bookkeeping Made Simple for Boutiques Membership, where you can get trainings & support to help you feel confident as you manage the money-stuff yourself. Using Quickbooks Online, I walk you through the exact setup & process you need to implement everything for accurate and EASY bookkeeping all year long - no more tax time scramble! Join us at www.findingfreedomfinancial.com/membership [https://www.findingfreedomfinancial.com/membership] * Are you a Shopify seller who’s not quite ready to invest in a bookkeeping software like Quickbooks? Don’t worry - I got you! I’ve created a custom Shopify Seller Income & Expense Tracker that you can use to easily enter each transaction coming in and out of your business, along with your sales data coming directly from Shopify to put together a standard P&L (Income Statement) that you can hand over to your tax preparer. Download your copy at www.findingfreedomfinancial.com/spreadsheet [https://www.findingfreedomfinancial.com/spreadsheet]   Prefer to learn while you read? Check out the blog post for this episode: www.findingfreedomfinancial.com/questions-to-ask-when-hiring-a-bookkeeper [https://www.findingfreedomfinancial.com/questions-to-ask-when-hiring-a-bookkeeper]   Related Episodes & Resources Mentioned: * Ep. 36 - Hiring a Bookkeeper Isn’t Always the Answer [https://pod.link/1831830735/episode/Ym91dGlxdWVib29ra2VlcGVyc2hvdy5wb2RiZWFuLmNvbS81ZmVmMDAwOC0yNGQ2LTNkY2UtOWIxYy05MzU3MmNmYzdkYmY?view=apps&sort=popularity] * Ep. 20 - Bookkeeper vs. Tax Preparer (And Why You Need Both) [https://pod.link/1831830735/episode/Ym91dGlxdWVib29ra2VlcGVyc2hvdy5wb2RiZWFuLmNvbS82ZTJkNTEyZi0xOGNmLTM0YmMtOGJhOS1mMWJhMDEzNWEzMTI?view=apps&sort=popularity] * A2X [https://www.a2xaccounting.com] * Bookkeep [https://www.bookkeep.com]

036. Hiring a Bookkeeper Isn't Always the Answer

Whether you should be hiring a bookkeeper or doing your own bookkeeping is one of the biggest decisions you'll make as a boutique owner. In this episode, Megan breaks down both sides honestly so you can figure out what's actually right for your business right now. Spoiler: hiring a bookkeeper isn't always the magic fix you think it is.   Ready to take your learning a step further? Register for my Free Masterclass, Make Your Money Make Sense! Where you'll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system. Sign up now: www.findingfreedomfinancial.com/masterclass [http://www.findingfreedomfinancial.com/masterclass]   Other Ways to Work With Me: * Need to get your bookkeeping caught up or cleaned up? Sometimes you just need a clean starting point so you can take it over yourself. Apply to work with us at www.findingfreedomfinancial.com/contact [https://www.findingfreedomfinancial.com/contact] and we'll get your books up to date and ready to hand off. * Need some support as you do your own bookkeeping? Then I wanna invite you to join me inside of the Bookkeeping Made Simple for Boutiques Membership, where you can get trainings & support to help you feel confident as you manage the money-stuff yourself. Using Quickbooks Online, I walk you through the exact setup & process you need to implement everything for accurate and EASY bookkeeping all year long - no more tax time scramble! Join us at www.findingfreedomfinancial.com/membership [https://www.findingfreedomfinancial.com/membership] * Are you a Shopify seller who's not quite ready to invest in a bookkeeping software like Quickbooks? Don't worry - I got you! I've created a custom Shopify Seller Income & Expense Tracker that you can use to easily enter each transaction coming in and out of your business, along with your sales data coming directly from Shopify to put together a standard P&L (Income Statement) that you can hand over to your tax preparer. Download your copy at www.findingfreedomfinancial.com/spreadsheet [https://www.findingfreedomfinancial.com/spreadsheet]   Prefer to learn while you read? Check out the blog post for this episode: https://www.findingfreedomfinancial.com/pros-and-cons-of-diy-bookkeeping/ [https://www.findingfreedomfinancial.com/pros-and-cons-of-diy-bookkeeping/]   Related Episodes & Resources Mentioned: Episode 29 — Lesly's Bookkeeping Transformation [https://pod.link/1831830735/episode/Ym91dGlxdWVib29ra2VlcGVyc2hvdy5wb2RiZWFuLmNvbS9jZjNmYWMxNS00ZTdkLTM1NWUtYTA4MS1lMjBlZWZhMGViMDk?view=apps&sort=popularity] Quickbooks Cleanup Bootcamp kicks off June 22nd - join us inside the membership [https://www.findingfreedomfinancial.com/membership]