The Money Bucket
There’s a hole in the bucket dear Liza dear Liza!
Ok… maybe I’m dating myself and am sure for those of us who do remember the song it brings playful thoughts to mind.
Do you ever feel like there must be a hole in your money bucket?
That money seems to be leaking out somewhere and you just aren’t sure where the hole is?
I know that for me when I am feeling like that, the hole is in one of three places.
Mindset: What is going on with my thinking that is keeping me blind?
Systems: What am I not getting from my reporting?
Support: Am I truly getting what I need from my team and how could we operate better?
Maybe you can relate to John’s story.
John had been doing his own accounting and, as his company grew, he hired someone to come in and help.
When it came time to file his taxes, he looked at his profit and loss sheets and knew something was not right.
He took his numbers to his CPA who told him it would not be a good idea to file his taxes.
He was showing a profit of $500K+ and John knew that was not right.
John’s CPA recommended he reach out to us.
Good news is all the information had been entered into John’s QuickBooks file.
Bad news was it was not set up properly for the kind of company John had… nothing had been reconciled.
We were able to gather the information needed to set up John’s chart of accounts.
Everything reconciled giving his company a second set of eyes on his financials.
This allowed us to save 1,000’s of tax dollars!
Next week, I’ll tell you about Nancy, who did hire a professional to begin with, but unfortunately it was the wrong professional for the support she needed.
Having the right expectations of the right team member will help you to be a strong leader of your financial picture.
John has a great team member for data entry and paper flow management.
With accounting support she is now able to do a great job and John gets the financial support he needs!
If you are ready to get the support you need, please click here to schedule a call.