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Bookkeeping 101: What to Tackle First

Bookkeeping provides the information you need to make decisions that can literally make-or-break your business. Examine the real costs of not doing it with our financial guide, “The Costs of Not Doing Your Bookkeeping.”

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About This Episode

Is bookkeeping really that important? The short answer: Yes!

The long answer? Well, you’ll just have to listen to this special episode in which guest host Amy Appleton, BELAY’s Director of Marketing, sits down to talk with Jen Barden, BELAY’s Director of Finance.

They’ll share specifics on what business owners should tackle first when approaching new processes or utilizing people to help them with their finances. You’ll learn the importance of having a bookkeeper on your team who is knowledgeable, proactive, reliable, and capable of keeping you informed of your financial records.

1. Communication is key.

When it comes to bookkeeping, you have to stay on top of communicating with the people who handle your financials. Touch base weekly and also make sure you are getting feedback on your financial reports every month.

2. Ask questions of your bookkeeper.

You can’t just set it and forget it just because the bills are getting paid and you’re making a paycheck. You have someone helping you with the finances, but you also have to stay involved and know what’s going on. Use those reports to make decisions and assess the overall trajectory of your company.

3. Having your finances in order will take a huge burden off your shoulder when a crisis hits.

Think back to the pandemic of 2020, when so many businesses were applying for PPP loans. With everything already prepared, that’s a painless process. But if you’re doing everything on your own or not really keeping up, then that process will become a nightmare. Having a dedicated bookkeeper allows you to do what you do best without worrying about what might happen when a financial emergency pops up.

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