Ep. 112 - Cara - Peach Sky Bookkeeping - 4 steps to stress free bookkeeping that will make tax season a breeze

Happy Woo Wednesdays! You have to know your numbers if you want to run a profitable business. Let's chat about it with my friend Cara from Peach Sky Book Keeping.Meet Cara - I'm a mama of 2, wifey, and owner of Peach Sky Bookkeeping. Chasing beautiful beach sunsets in Southern CA with my kiddos and helping our female business owners feel empowered through their finances will ALWAYS be my jam. Our DFY bookkeeping services allow tax season to be a breeze, have clients profiting more and actually paying themselves, while using their numbers as a resource to scale their business.What is your hot topic :4 steps to stress free bookkeeping that will make tax season a breeze:1. Separate business and personal - For the average biz owner, you really only need the one checking and one savings account for tax savings used strictly for business (I love Relay Bank). If you're good with credit cards, a business credit card is great to earn points and perks. I personally love the Chase ink card. Keep business and personal separate, this not only makes bookkeeping simpler, it also protects you legally.2. Simplify your systems - you don't need to collect income 5 million different ways or use 3 different CRM systems all doing the same thing. There are sooo many different softwares out there (especially for photographers) but the simpler the better. This allows for easier tracking of income and expenses. My personal favorites for collecting income are Dubsado backed by Stripe and Paypal Business for paying subcontractors (extra pro tip - ONLY attach your business bank accounts to these payment processors that way you don't comingle and income and expenses are still only in your biz accounts.)3. Get in an accounting software - this will again allow your bookkeeping process to be simple, streamlined, and automated. You can connect your business bank and credit card accounts and some CRM systems to the software. My preferred software is Xero due to it's affordability, user friendly platform, and customer support. Xero allows you to set up rules for certain transactions that really only take a click to be recorded. This allows for no missed income and more importantly recording all expenses aka tax deductions.4. Do your bookkeeping AT LEAST monthly. This allows it to be less overwhelming , daunting, and transactions don't pile up. You should also be looking your numbers at least monthly to see how your business is doing and from there you can use data driven information to make informed business decisions. (and if you know deep down you aren't going to do it - OUTSOURCE to me!)Reach out to Carawww.peachskybookkeeping.comhttps://www.instagram.com/peachskybookkeepingReach out to Carissa https://www.instagram.com/carissawoo