Aug 17, 2021

What You Need To Know About Accounting 

By Kim Nagle

If you’ve been following along for very long at all, you know I preach that doing business by “the numbers” is a non-negotiable. I talk a lot about using numbers to make determined-decisions in my new book, The DAMN Plan: How To Find Freedom, Love, And Money In Your Business.

Today, I introduce you to Melissa Anderson of Proworx Accounting and Consulting. Melissa knows her trade upside-down, backward and forward and, like me, she also has a passion for helping others by not only sharing what she knows but also how it can be applied to others’ very unique businesses. Boy, does she speak my love language! She takes her expertise in accounting for entrepreneurs – a topic that might seem scary at first – and gives it to others in a way that brings some of the daunting parts of business ownership down to a level that the freshest of entrepreneurs can understand and manage as they grow.

If you’ve read my book, you also know that I believe in finding the right person for the job, and that, sometimes in your entrepreneurial journey, you’ll find that right-fit person isn’t you. And, when it comes to accounting and tax, you want to be sure you have the right person doing the job!

But, when you hire someone else to work with or for your business – especially to work in the intimate details of finances – it’s important that both parties view that collaboration as a partnership. Especially when you’re looking to outsiders to help manage your numbers, it’s important to have user-friendly accounting systems for business and a mutually beneficial relationship in place. Getting your taxes done annually is one thing, but when you want ongoing accountant advice, developing systems that you both can attend to year-round is ideal.

In this tech-friendly era, minding your numbers doesn’t have to be complicated. There are a variety of options for accounting for small business owners literally at our fingertips. But that variety can be overwhelming to someone for whom accounting is not their jam. At the very basic level, entrepreneurs can use Excel for accounting and finance. But more intricate platforms are available, too, if your business’s needs are a bit more complex. It’s just a matter of finding the need and finding the right-fit solution.

But before you enter into any long-term agreements, be sure you do your research and get to know the accountant’s abilities and communication style. Don’t let anyone take a look at your books without a contract in place!

Make sure you know what you’re hiring the person for and the terms of the agreement from both sides. Do not engage services from anyone without a contract.

I can’t preach it enough – when it comes to the super-sensitive nature of your numbers, you need a partner you can trust in the long-term. You need someone who not only understands the information but also someone you can have a conversation with that may not always be as fun as you’d like for it to be in times of cash flow conflict. Before you enter into a contract, I encourage you to conduct an accountant interview to get to know their communication style. It’s important that the one you hire will be thorough, transparent, knowledgeable and willing and able to communicate well with you.

For additional accountant tips, I encourage you to reach out to Melissa for a free accounting consult! She can give you a hand determining what accounting systems are the best fit for your business, and you can hold an interview with an expert.

And, if you need help developing the rest of your DAMN plan, sign up for a FREE 30-minute coaching call with me!

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