New Accounting Solutions LLC

I've had enough of the scarcity mindset... here are a few principles from an ABUNDANCE mindset that you can use when reviewing your financial reports:

ABUNDANT OPPORTUNITIES

When you're looking at your P&L, check out which of your products/services is bringing in the most money.

How can you leverage that success to create even MORE success?

GROWTH IS COMING

What can you invest in NOW to help your business grow in the future?

Do you have additional money for a new ad campaign or to hire a new contractor?

Numbers can be SCARY for so many people, I want to help you make the mindset shift to see the abundance that's out there for the taking!

Tax Day is right around the corner... April 15th will be here before you know it! 😅

The only way to make your next month easier is to start prepping now:

1️⃣ If you own a business, make sure your 2024 bookkeeping is completed.

2️⃣ Gather all your tax documents and send them to your tax accountant.

3️⃣ If you pay estimated taxes, mark your calendar so you don't forget to pay those along with any taxes due on April 15th.

4️⃣ Don't forget about state tax deadlines too! Check with your tax accountant to see whether you need to file any state tax returns or make any payments.

Feel like you're drowning in receipts? Let's bring your business into the 21st century! ↓

Going paperless is SO much easier when it comes to your receipts, plus it's eco-friendly. 🌎

Unless you’re keeping your receipts in a fireproof, waterproof file folder that you’re definitely going to bring with you on every move... there’s a chance your physical storage isn’t all that secure! 🔐

Instead, here's what I want you to do:

If you get a receipt via email,
download it and upload it to a Google Drive folder (or whatever your preferred cloud-based storage method is). 🗂️

If you have a physical receipt, you can use your phone to create a scanned copy and upload it to the same place!

As your bookkeeper, this is going to make BOTH of our lives so much easier. 📚

CLIENTS: Do you have an unread email from me in your inbox? 📧

This is a friendly reminder to double-check that I'm not waiting on any bank statements, receipts, or other correspondence.

The faster you get it back to me, the faster I can get your books done! 📚🤍

This type of info can be SUPER valuable when deciding whether or not you want to renew a contract with a client! 💸

It might sound great to have more money coming in, but if they still haven't paid you for the LAST contract... that's a big problem.

Struggling to stay on top of your invoices so that you can run useful reports like these? I can help! 👋

Cash is KING when it comes to keeping your business *in* business. 💵👑

So, let's talk cash flow dos & don'ts! ⤵️

CASH FLOW DOS:

✔️ Keep cash reserves on hand for at least 3-6 months of expenses (preferably in a high-yield savings account).

✔️ Invoice promptly and set automatic reminders to follow up on overdue invoices.

✔️ Plan for seasonal fluctuations and monitor cash flow projections.

CASH FLOW DON'TS:

🚫 Take on too much debt without a plan to pay it back.

🚫 Overextend on crucial expenses like payroll, inventory, or rent.

Need help managing your cash flow? Great bookkeeping is a good place to start. 📚

📧 SUBJECT LINE: Monthly Financials

Here's what I want you to do when this email hits your inbox:

LOOK AT YOUR BOTTOM LINE

Naturally, the first thing you want to do is look at the net income (the bottom line) shown on your P&L! This is what you’ve earned on a pre-tax basis. Congrats!

CHECK OUT YOUR CASH FLOW

Regardless of whether or not you receive a cash flow statement, you’ll want to look at the cash balance shown on your balance sheet and see how that’s changed month-over-month.

If your cash balance is significantly up or down, do you know why?

WRITE DOWN ANY QUESTIONS

Part of the reason clients hire me is to help them truly understand their finances, I want to be a resource for you!

I feel like entrepreneurship looks like a bit of a highlight reel on Instagram, so let me share some *real* thoughts from behind the scenes:

→ Estimated taxes are going to sneak up on you. 🤷

→ Budgeting gets real when your paycheck is inconsistent. 😅

→ It’s way tougher to grow your numbers if you don’t know them. 📈

→ Having a go-to mentor is incredibly valuable. Honestly, it can make or break your business!

I've got a TON of incredible business owners following me, I'd love it if you dropped your "no one told me this" scenario in the comments!

If you're feeling personally attacked by this post (or don't even really know what reconciling is), keep reading! ↓

A lot of business owners understand how to connect their bank feeds to their bank accounts, and they may even know how to categorize their income and expenses...

But I rarely run into a business owner who's doing all of the above AND reconciling their accounts!

Reconciliation is a crucial step toward catching errors in your books. 🔍

Whether you're relying on automation or entering everything by hand, there’s still room for human and machine errors to be made.

If you aren't reconciling your books because you don't know how to, don't have time to, or simply don't want to, click the link in my bio to hire me instead!🔗

Back in the day, bookkeeping was limited by having to provide physical documents or meet in person, but I think we're *all* glad that's not the case anymore.

If you want to chat with me about your numbers, we've got Zoom, email, text, and even DMs. ✅

If you want to send me your documents, we have a secure system to keep your data safe. ✅

If you want to check out your books in real-time, we can both log in to your cloud-based bookkeeping software. ✅

BONUS POINTS: Because you aren't limited by geography, you can work with a bookkeeper who's a great personality fit too! 😏