The (Not Boring) Boring Small Business Bookkeeping and Accounting Podcast

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! Ever wondered why bookkeepers are the real superheroes of the business world? It's because they master the intricacies of the chart of accounts, ensuring every income, cost of goods, and expense is perfectly categorized in the profit and loss (also known as the income statement). It may not sound like a superhero task to you when you first start tracking these accounts, but trust us, it IS! That's why our resident bookkeeper mensch, Paul Rosenblum delves into these 3 accounts … and more! More? Yes! There can be more to the income statement than these 3 accounts so be sure to listen through to the end for those extra special crispy accounts (okay, they may or may not be crispy but they are special and Paul will explain why). Episode 4: https://www.buzzsprout.com/2188873/12836056-accrual-vs-cash-based-accounting

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! Why did the accountant break up with their calculator? It just wasn't adding up! (Did we mention that Paul is still recovering from tax season?) No, seriously, we need to have a talk about your business adding up so our resident bookkeeping mensch, Paul Rosenblum, is taking his magnifying glass (instead of his calculator) to show you the financial story of your business. He'll do this in two episodes. Part 1, this episode,  is about the balance sheet accounts (you know: assets, liability and equity accounts) and part 2 will be about the income statement (also known as profit and loss).  If you liked the first Chart of Accounts episode (episode 7, link below), then you're going to really benefit from this update. episode 7: https://www.buzzsprout.com/2188873/12836053-chart-of-accountsepisode 28: https://www.buzzsprout.com/2188873/14494023-partnership-payout-puzzle

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! If you're a bookkeeper with Batman tendencies, then our resident bookkeeping mensch, Paul Rosenblum, has some advice for you in this post-tax season episode. He'll help you reevaluate your bookkeeping-life balance including an audit of your client roster, physical work environment, software stack and more. Should there be more bookkeeper specific episodes like this? Let us know and we'll set them up on “the same bat-time, same-bat channel”, whoops, we mean bookkeeping episode, bookkeeping podcast. 

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! As tax season winds down, our resident bookkeeping mensch, Paul Rosenblum, has some words of wisdom for small business owners in this special (and not ranty) client's toolkit episode. Toolkit for what? Being good to YOUR bookkeeper (even if they're not Paul). The heart of it is, as Billy Joel aptly says, “It's a matter of trust”.  Paul outlines how  small business owners can have realistic expectations, communicate clearly and often, and maintain transparency in financial matters with their bookkeepers. And there's some bad behavior that's not okay to do that he'll share with you as well. But you'll have to listen for those stories. A-One, two, a-one, two, three, four. 

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! Curious about the differences between online bookkeeping software options? Our resident Bookkeeping Mensch, Paul Rosenblum, has got you covered! He shares crucial insights about the options available including the free, the simple and the ala carte (yes, that's a thing!). If you're just starting your business and are looking for the right bookkeeping software OR are in need of a change, get ready to take some notes. And remember, always balance your books, but never balance on a high chair – it's just not worth the risk!Software mentioned:QuickBooks Online: https://quickbooks.intuit.com/online/#Zoho: https://www.zoho.com/FreshBooks: https://www.freshbooks.com/Akaunting: https://akaunting.com/

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! Alright, folks, listen up! This episode is a must for all you business owners and bookkeepers out there, because we're diving deep into the realm of online accounting……software! It's a game-changer, sure, but before you jump on the bandwagon, let our resident bookkeeping mensch, Paul Rosenblum, walk you through the ups and downs of each option. With his savvy insights, you'll be armed to make the right call on which cloud-based accounting tools to roll with. So sit back, grab a coffee (or something stronger), and let's jazz up your financial game plan for success!

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! In the midst of tax season, our resident bookkeeping mensch, Paul Rosenblum, delves into three crucial small business bookkeeping adjustments to make sure you avoid IRS scrutiny. Through three case studies, he addresses careful business shifts in payroll, company to company transfers, and intercompany transactions. Emphasizing his personable approach, Paul advocates for thorough bookkeeping cleanup coupled with robust client-bookkeeper relationships based on trust to effectively handle all of these changes.

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! Ever wondered why partnership distributions sometimes leave partners scratching their heads, wondering where all the money went? Our resident bookkeeping mensch, Paul Rosenblum, delves into the intricacies of managing finances for a landscaping company partnership. He unravels the mystery behind taxable income on K1 forms and the nuances of distributing profits. Discover the secrets to navigating partnership finances and ensuring a smoother tax reporting.

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! Strap on your running shoes so you can train with our resident Bookkeeper Mensch, Paul Rosenblum, for his tax marathon preparation. Discover his methodical process for evaluating and streamlining clients' financial records, akin to pacing for a marathon, emphasizing precision and client engagement as crucial checkpoints along the way. He's so prepared, in fact, that he recorded this episode during the holiday season in December. He's got reps of audits, reconciliations, and client emails and calls to cycle though. But this is Paul we're talking about and he's handing it like an Olympic champion. 

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! Why is July 31, 2024 a date to remember and possibly cry over? In this episode, our loveable bookkeeping mensch, Paul Rosenblum, takes us on a rollercoaster of emotions as he grapples with the impending retirement of certain QuickBooks Desktop products. That happen on, you guessed it, July 31st this year. Amidst the cheerful buzz from other users, Paul laments the looming changes, details the general decline in small business software over the years and, yes, vents about technological “progress” making his job harder, not easier. 

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! As promised, it's time for our resident bookkeeping mensch, Paul Rosenblum, to update us on the 1099 situation. He specifically addresses the introduction of 1099K forms by third-party payment apps like Venmo and PayPal for transactions over $5,000 starting in 2025. Although this change is still some time away, it's important to understand the potential challenges and questions surrounding how this might cause confusion. But don't worry, you're in good hands with Paul. He'll continue to keep you updated on updates as time goes on in future episodes. 

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! It's organizational time with our overworked Bookkeeper Mensch, Paul Rosenblum. He's not taking breaks these days but he did make time to share the importance of archiving documents with you in this episode. Remember, the IRS requirement is to retain readable receipts for seven years. But how? In order to show you, Paul explains how he has used both a paper and digital filing system to stay IRS organized. Keeping meticulous record-keeping can help you avoid issues during audits. You may think that you don't have time to keep your business records this organized BUT but Paul stresses that not making the time can cost you a lot, both in time and money. 

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! Each small business decision is like a snowflake gently falling into place and so in this podcast episode, our resident bookkeeping mensch, Paul Rosenblum, invites listeners into the winter landscape of his 30-year entrepreneurial journey. He has skillfully navigated the frosty terrain, sculpting a business niche that mirrored the uniqueness of snowflakes – tailored to smaller companies, each with its distinct 'personality.' Paul delves into the challenges of setting hourly rates, akin to choosing the right type of snow for a specific snowman. As he maneuvers through the complexities of small business time and financial decisions, he shares insights that sparkle like sunlight on fresh snow. The satisfaction of nurturing business growth is a delicate dance of aligning financial considerations with ethical responsibility in this wintry business world.

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! Our resident bookkeeping mensch, Paul Rosenblum, serves up a Thanksgiving feast of small business bookkeeping insights emphasizing a blend of careful planning, thoughtful choices, and a dash of seasoned expertise.Just as a Thanksgiving table is laden with diverse dishes, Paul explores the buffet of challenges faced by entrepreneurs, from juggling multiple credit cards like a variety of side dishes to navigating the international tax landscape as if it were a global Thanksgiving spread. And much like navigating which family pumpkin pie recipe to use each year, Paul emphasizes the importance of making informed choices when deciding between filing a joint or separate tax return. 

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! The IRS's plan on tracking digital payments from Zelle, Venmo, and PayPal has been as unpredictable as winter weather. In 2022, they announced a change of automatic 1099's for $600 or more but then postponed implementation. Our resident bookkeeping mensch, Paul Rosenblum, bundles us up and gets us ready for the cold winter of 2023's tax season by breaking down what the hold up is on this 1099 change and how you can prepare for any potential confusion (and even the Mensch is a little confused about implementation).  

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! In this podcast episode, our resident bookkeeping mensch, Paul Rosenblum, is like a jazz musician setting the stage by opening up about the reasons behind why he's sharing this content for free.  He discusses his late start in bookkeeping and how he's embracing this groove. Paul's driven by the desire to pay it forward, echoing the spirit of jazz mentorship, teaching QuickBooks in a unique way, addressing the absence of tax education in public schools, and focusing on the importance of accurate, thorough bookkeeping. This podcast is his personal serenade to the audience (YOU!), and as he looks to the future. 

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! Managing Accounts Receivable in a business is like being an owl in the nighttime forest. Just as an owl keeps a watchful eye on its surroundings to catch prey, a business owner or bookkeeper must vigilantly track their Accounts Receivable to ensure that money owed by customers is collected. The owl's keen vision allows it to spot movement in the dark, and similarly, aging reports and financial tools help businesses spot overdue payments. Just as an owl's ability to hunt affects its survival, effectively managing Accounts Receivable is crucial for a business's financial health, ensuring it thrives in its own financial ecosystem.

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! Starting a new business often means dealing with debt, but fear not, our trusty bookkeeper mensch, Paul Rosenblum, is here to guide you through the labyrinth of Accounts Payable. It may not sound thrilling at first, but when you step into Paul's world of bookkeeping tales, you'll be in for a wild ride. Get ready to be amazed (or maybe shocked) by the financial antics of small business owners as they navigate the treacherous waters of credit cards and loans. And, of course, Paul will serve up some sage advice to steer you in the right direction because he's got your back!

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! It's almost Labor Day so are you ready for tax season? That's right. For hard working bookkeepers like our resident bookkeeper mensch, Paul Rosenblum, tax season starts now. Not in January.Paul admits that his impending hustle has him in list mode. So he's prepared a starting list of things you as a bookkeeper or small business owner can do to keep your sanity during your own tax preparation. He covers essential tasks such as organizing subcontractor forms, reconciling accounts, analyzing profit and loss reports, and strategic tax planning. Have a listen for practical tips, timely advice, a touch of bookkeeping humor and a glimpse into Paul's unwavering commitment to his craft, all while he navigates the intense lead-up to tax season. 

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! Have you always dreamed of owning your own business? Sara Foldenauer of Sets By Sara did. But that doesn't mean it was a simple, easy path. In this conversation, our resident Bookkeeper Mensch, Paul Rosenblum, chats with Sara, a set designer of 17 years, about her entrepreneurial story. Sara and Paul both share insights on the challenges and rewards of being self-employed, emphasizing the value of hard work, building relationships, and finding a reliable team (including a trustworthy bookkeeper and accountant, of course). They also delve into the complexities of managing finances and the practicalities of the freelance industry. Throughout the conversation, they highlight the ups and downs of entrepreneurship and the personal growth it entails. You'll want to check out Sara Foldenauer's website after this conversation for sure! https://www.setsbysara.com/

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! In this candid and insightful solo episode, our resident bookkeeping mensch, Paul Rosenblum, delves into the all-too-familiar scenario of taking on a new client with a chaotic financial situation. With a wealth of experience, Paul not only recounts intriguing tales of successfully tidying up messy books but also highlights how a diligent bookkeeper can uncover potential savings for the client. Throughout the episode, he skillfully emphasizes the collaborative relationship between bookkeepers and tax accountants, ensuring everything falls into perfect order. So, whether you're a fellow bookkeeping professional or a business owner seeking financial clarity, this episode offers valuable lessons and a glimpse into the expertise of a true bookkeeping mensch.

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! Early on in his career, our resident bookkeeping mensch, Paul Rosenblum, realized that he was not a traditional bookkeeper. Although he was attracted to the orderly nature of bookkeeping, he was also a person who didn't think highly of customer service in general. So it made sense for him to spend time on tasks that let him build client relationships in a very Paul- like way. In this podcast episode he shares the  non-traditional business practices that have helped his business thrive AND also let him feel good about himself as a human. Building these connections have fostered client loyalty, have set him apart from the competition, and ultimately have led to long-term success in the customer service-driven field of bookkeeping. And he's never had a problem sleeping at night, except during tax season when there aren't enough hours in the day! 

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! Paul has a burning desire to share the 5 most common errors made in computerized bookkeeping in general (not just in QuickBooks). Why? Because while computerized bookkeeping continues to grow in popularity, software updates within these programs don't always happen as quickly (if ever!) Paul's pet peeves, err–  I mean common errors include mishandling deposits from downloaded transactions, misaligned chart of accounts, and more. Avoiding these errors is crucial for maintaining accurate financial records. So have a listen so that you know how to use your bookkeeping software correctly. Who knows, you might even impress your bookkeeper with your new skills after making these adjustments. 

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! Join our resident bookkeeping mensch, Paul Rosenblum, on a delightfully wacky adventure as he unravels the tale of how he stumbled into the captivating world of bookkeeping. Prepare to be amused as he recounts the many unexpected jobs and teaching positions that peppered his journey. With a penchant for embracing great opportunities, he'll take you on a rollercoaster ride through the fascinating and diverse experiences that have shaped his quirky yet fulfilling career. So buckle up and get ready to laugh, as he blends humor and numbers in a way that only he can.

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! In this episode, our resident Bookkeeping Mensch, Paul Rosenblum, tackles the common dilemma of the mismatch between bank account balances and net profit in profit and loss reports for businesses. He faces this issue head-on by providing practical solutions to bridge the gap. From explaining the impact of personal expenses and non-deductible transactions on the bank account balance but not the profit and loss, to discussing the complexities of accrual accounting and the importance of adjustments made by accountants or tax preparers, Paul equips you with actionable strategies to reconcile your financial statements effectively. 

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! This episode will empower you to maintain accurate records and stay on the right side of the IRS.Prepare for an enlightening episode as our resident Bookkeeping Mensch, Paul Rosenblum, pulls back the curtain on tax audits. Discover the meticulous process auditors follow to ensure a perfect harmony between 1099's and financial records. Even the slightest discrepancy can cause tax liabilities but Paul is here to make sure you know enough to keep this from happening to your business. You're in good hands! 

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! Dive into the process of changing the entity type of an existing company, specifically from a corporation to an LLC or vice versa with this info packed episode. Paul highlights the various implications of such a change, including alterations to tax forms, bookkeeping practices, and partner payment structures. Listeners gain valuable insights into the meticulous accounting work involved in zeroing out assets, transferring balances, and ensuring accurate records. The episode emphasizes the importance of seeking multiple professional opinions and offers practical recommendations based on different business scenarios. 

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! If you are looking at your monthly Profit and Loss report and not showing a profit or want to increase your profit, listen to this episode! Every business is different but get some ideas on how do increase your profit!

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! The chart of accounts is the backbone of your accounting system. This episode discusses how to create a Chart of Accounts that benefits the company and satisfies your tax preparer.