Your Bookkeeping Matters

Running a business without solid financial systems is like driving with your eyes closed. It's risky, stressful, and unsustainable. This checklist covers the non-negotiables every small business owner must have in place to avoid the chaos and keep things on track.Whether you're in your first year or five years in, these seven financial must haves are what I make sure every client of mine is across, because they're the difference between winging it and running a profitable, compliant business.This isn't a scare tactic. It's a practical guide to help you stay in control, avoid costly surprises, and make smarter money moves with confidence. You don't need to know everything, but you do need a solid handle on the essentials or the right expert in your corner.If you're unsure whether your financial setup is working for you or against you, this episode is your starting point.Here's what's covered:The two business bank accounts I consider non-negotiable (yes, two)The mistake I see far too often when it comes to GSTWhy staying “sort of” up to date with your numbers won't cut itWhat should always be on your invoices, and when it's missing what it says about you and your businessThe smartest move you can make, even if you're not a finance personLinks & Resources Mentioned in This Episode:Previous Podcast Ep: 78 Is Your Tax Invoice Giving Me a Headache?Bookkeeping Matters Learning HubBlog post: The 6 Bank Accounts Every Business Needs

Pricing is one of the trickiest parts of running a business, and it's also one of the easiest ways to watch your profit disappear. If you're working non stop, but cash still feels tight, chances are your pricing strategy is the problem (whether you realise it or not). In this episode, I'm breaking down the exact mistakes I see female-led businesses making with their pricing. It's the same traps I've seen with my own clients, and even faced myself. From guessing your prices and forgetting hidden costs, to relying on outdated models or chasing competitors' rates, these issues chip away at your profit fast. The good news? Once you know what to look for, you can turn things around. I'll walk you through the practical steps to review your pricing properly. So you can make sure it covers all your true costs (including those sneaky ones like admin time, taxes, and overheads), supports your goals, and keeps your business sustainable. No fancy spreadsheets needed, just simple, actionable advice to get you back on track. If pricing has ever felt overwhelming or you've been putting off a proper review, this is your reminder small changes can make a massive difference to your bottom line. Here's what's covered: Why “set and forget” pricing is a recipe for profit loss, and how often you should review your pricesThe danger of hourly pricing when your business evolves (and how one client turned things around by switching models)What happens when you copy competitors' pricing, and why it usually backfiresThe true costs you need to build into your pricing to avoid accidentally working for freeWhy discounting feels like a quick win but can seriously damage your brand and long-term profitHow to set clear pricing boundaries and focus on value instead of dropping your pricesLinks & Resources Mentioned in This Episode:Free Tool Pricing CalculatorPrevious Podcast Ep: 19 Pricing for Profit (and Mistakes to Avoid)Previous Podcast Ep: 82 Beyond Profit: Why Adding Value Matters MostWatch this episode on YouTube

Running a small business often means wearing many hats, but when it comes to bookkeeping, trying to DIY can hold you back more than help. If you're serious about growth, it's time to stop thinking of a bookkeeper as someone who merely clicks buttons in Xero. The right bookkeeper becomes part of your team, helping you make confident, informed decisions and setting your business up for sustainable success.Bookkeeping goes beyond data entry, it plays a key role in your business growth. From cleaning up messy accounts to setting up smarter systems and giving you the financial clarity you need to scale, this episode is packed with insight. Whether you're overwhelmed by overdue invoices or unsure how much to set aside for BAS, after this episode you'll walk away understanding exactly how a proactive bookkeeper can help move your business forward.Here's what's covered:How a great bookkeeper helps you see the full picture of your businessThe unexpected ways they can support your decision making and strategyWhy you don't need to have it all figured out before working with a bookkeeperHow they help you stay focused on what mattersWhat it looks like when your numbers finally start working for youLinks + Resources :Podcast Episode 09: Bookkeeper vs AccountantPodcast Episode 36:Hiring a Bookkeeper? Here's What You Need To KnowPodcast Episode 10: Should You Outsource or DIY your Books?Watch this episode on YouTubeLearn more about working together with Accounted For You

Running a business while trying to maintain a personal life can feel like a never-ending juggling act. The pressure to be everywhere, do everything, and keep it all together is real, and exhausting. That's why we're stepping back to ask a more intentional question: is this helping create harmony, or is it feeding the overwhelm?After a shaky 2024, the word harmony has become a guiding principle for me. Instead of striving for a perfect work-life balance (spoiler: it doesn't exist), my focus has shifted to systems that support a flow between business and life, one that is flexible, realistic, and sustainable. I share what that looks like in practice with four systems that have helped me create harmony between work and life:Automating repetitive tasks. Whether it's email rules, invoice reminders, or integrating tools, automation helps cut down manual work so you can focus on what matters most.Scheduling and Time Blocking. Create consistency and structure by scheduling tasks and batching them together. Time blocking helps protect your focus and ensures important things get done, without the mental clutter.Outsourcing the Right Tasks. You don't need to do it all. Let go of tasks that drain your energy or take time away from your strengths. Think about where you add the most value and get help with the rest.Setting Boundaries. Define what works for you, whether that's turning off notifications, not working Fridays, or saying no more often. Boundaries are essential for protecting your time, energy, and wellbeing.Links + ResourcesNumber News fortnightly email insights

Small changes can make a huge difference in your business. The right tweaks to your bookkeeping and financial habits can save time, improve cash flow, and help you feel more in control, all without adding more to your plate. Efficiency is key, and it starts with reducing time spent on repetitive tasks. Are you still manually processing transactions that could be automated? Whether it's setting up bank rules, batching expenses, or offering online payment options, there are smarter ways to handle your finances. One simple shift? Automate your invoicing. Sending invoices manually not only takes time but can also lead to delays and cash flow issues. With automation, you streamline the process, get paid faster, and free up your focus for more important things. Another game-changing habit? A weekly financial check-in. Instead of letting tasks pile up, block out a set time each week. Whether it's Money Mondays or Finance Fridays, to review cash flow, send invoices, and stay on top of your accounts. This one habit alone can transform financial confidence and business growth. Finally, don't ignore your reports. Your bookkeeper isn't sending them for fun! They're a powerful tool for understanding your numbers. Start simple: find your gross profit and understand what it means. As you get comfortable, you'll naturally start asking more questions and making smarter financial decisions  Links & Resources Mentioned in This Episode: Xero Money Saver Guide – Learn how to optimise your Xero set up.Blog post: Gross Profit vs. Net Profit – For a simple breakdown of gross profit.

After a year-long break from the podcast, I'm back! And there's a lot to catch up on. While the podcast was on pause, my business, Accounted For You, definitely wasn't. In fact, the past year has been full of growth, refining processes, and making big shifts in how we support clients. In this episode, I share why I made the decision to step back from recording, the impact it had (both personally and professionally), and why now is the right time to return. I'll walk through the behind-the-scenes changes in my business, what I've learned about prioritising the right things, and how stepping back in one area can sometimes be the best move for long-term sustainability. If you've ever felt stretched thin in business or questioned whether you need to let something go (even temporarily), this episode is for you. Plus, I'll share what's ahead for the podcast and why I'm excited to get back to these conversations.What you'll learn in this episode:Why I paused the podcast (and what I learned from it)How stepping back in one area gave me clarity in othersThe behind-the-scenes shifts at Accounted For You over the past yearWhy sustainability in business matters more than doing everything What's next for the podcast and how it fits into the bigger picture 

Small business isn't for everyone but it might just be the perfect path for you. Although there are many perks of being your own boss, running a small business also comes with a variety of challenges that many people aren't willing to take on. We all have different expectations for what we want out of life, which is why the decision to run a small business needs to be made with a lot of thought and care. If you're an aspiring entrepreneur, or perhaps you have an existing business and you've been questioning whether this gig is really for you, keep listening my friend. In this episode, I'm taking you through some of the benefits and drawbacks of being a small business owner so you can make an informed decision about the best path for you moving forward. Embracing the Freedom and PassionOne of the most significant perks of running a small business is the freedom it offers. Being your own boss allows you to embrace your passion and make important decisions that align with your vision - but this freedom doesn't come without challenges. It requires self-discipline, the ability to wear multiple hats, and a constant drive to innovate. Navigating the Challenges of Financial IndependenceWhile financial independence is a significant benefit of small business ownership, there is also a flipside. Managing finances, navigating cash flow projections, and making strategic decisions require expertise and support. Whether you're adept at handling numbers or need to outsource this aspect, proper financial management is crucial for the success of your business.Cultivating Creativity and InnovationCreativity and innovation are at the heart of small business ownership. As the boss, you have the freedom to unleash your creativity, make decisions that set you apart, and adapt to market trends. While this offers exciting opportunities, it also places a significant responsibility on your shoulders. Balancing creativity with practicality and market demand is key to sustainable growth.Ultimately, the decision to run a small business is a personal one that should reflect your strengths, passions, and values and there's no shame in deciding that running your own business isn't for you. Whether you choose to pursue small business ownership or explore other avenues, remember that your decision is a reflection of your courage, resilience, and commitment to personal and professional growth.LINKS:Join the waitlist for The Bookkeeping Matters Blueprint hereConnect with Lisa Turner:Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join my Numbers List for small business news and fun, helpful tips hereGrab some FREE Resources hereCheck out my blog here

Today, we're going to dive into a fundamental aspect of running a small business in Australia – understanding business structures. The structure you choose will define how your business is organised, how it's managed, and of course, taxed.Choosing the wrong structure can cause headaches down the road so it's important to be informed before making a decision. If you have made the wrong decision though, don't panic! I've been there myself, and while it costs some time and money, you can definitely change structures. So whether you are starting a new business or reassessing your current structure, this episode will help you pick the perfect structure for you. Lets dive in to Australia's three main types of small business structures:1. Sole TraderThe sole trader structure is the most common choice for small business owners in Australia. It is cost-effective and easy to set up, making it an attractive option for those starting out on their own. In this structure, you, as an individual, are the business. This means there is no separation between your personal and business entities.While being a sole trader offers simplicity and full control over decision-making, it also comes with unlimited liability. Without any separation, you are personally responsible for all aspects of the business including all its debts. Additionally, all the profits of the business will be taxed as your income. 2. CompanyThe company structure provides a separate legal entity for your business. This means the business enters into contracts, buys assets, and incurs liabilities in its own name, which offers some liability protection for the owners. This is a great choice for businesses with multiple owners, significant assets, or plans for substantial growth. However, setting up a company requires a formal structure, which comes with more administrative tasks and costs. Don't get discouraged though! A good tax specialist will be able to step you through this process if it's the right one for you.3. TrustA trust is a unique business structure that holds assets on behalf of beneficiaries. It is not a separate legal entity but a relationship wherein a trustee manages the assets for the beneficiaries. Trusts are known for their flexibility in income distribution and asset protection, making them a common choice for family businesses. Keep in mind that setting up a trust is typically more complex and costly than other structures, so you'll definitely want professional guidance. LINKS:Join the waitlist for The Bookkeeping Matters Blueprint hereConnect with Lisa Turner:Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join my Numbers List for small business news and fun, helpful tips hereGrab some FREE Resources hereCheck out my blog here

If you've ever struggled with managing loans, ATO bills, superannuation, or credit card payments, then today's episode is for you! I'm taking on the topic of debt and sharing strategies to empower you in managing and crushing your debt. Taking a proactive approach is crucial for setting yourself up for long-term success. Here are some techniques to consider:  1. Budgeting and Cash Flow Forecasting:Creating a budget for your business will help you stay on top of your debt obligations and allocate funds to the right places. Just remember that budgeting is not meant to restrict you, but rather guide you on how much money you have available for spending, repayments, and fixed costs. 2. Cash Flow Forecasting:Understanding your cash flow is essential in reducing debt. By forecasting your income and expenses, you can ensure that you have sufficient funds to pay off your debt and cover the current and future expenses of your business.3. Saving Ahead:Create a savings buffer to cover any overdue debts or amounts. Set up a dedicated savings account to accumulate funds for taxes, GST, income, and other expenses relevant to your business. Even if you're not required to pay these yet, forming the habit of saving early builds excellent money management skills.Challenges Along the Way:Navigating debt management comes with its fair share of challenges. When obstacles arise, refer back to your budget and planning to identify which debts require immediate attention, which ones incur penalties, and which carry the highest interest rates. Avoid the temptation to ignore these challenges or bury your head in the sand. Inaction will only exacerbate the problem and increase your stress levels. The Importance of Seeking Professional Support:If you find yourself struggling with debt, there are many places you can reach out to for support; starting with your trusty bookkeeper. Be honest with where you're at and they'll be able to provide guidance, resources, and connections to financial planners or counselors. Don't ever be embarrassed to ask for help, your financial advisors are here to assist you in overcoming financial hurdles and setting your business on a path to success.Taking control of your debt is a crucial step towards securing a brighter financial future, and this episode will give you the tools you need. By implementing the strategies I shared, you'll be well on your way to crushing your debt and regaining control over your finances.Previous episodes mentioned:Budgeting isn't a dirty wordReviving Your Small Business Finances: Tips to Get out of the Red and into the BlackLINKS:Join the waitlist for The Bookkeeping Matters Blueprint hereConnect with Lisa Turner:Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join my Numbers List for small business news and fun, helpful tips hereGrab some FREE Resources hereCheck out my blog here

Are you facing late payments from clients, and getting that panicked feeling about having to chase them up? I get it - and I know so many other business owners do too. In an earlier episode, I took you through my exact process for timely payments. Today, I'm diving a little deeper to discuss the power of personalised reminders and guiding you through the process to get paid quicker. The first step in creating an effective reminder system is to turn on automated reminders in your accounting software. In this episode, we focus on Xero, but you can adapt these strategies to your own software. Once you've enabled the automated reminders, you need to determine how many reminders to send and how often.While automated email reminders are extremely effective, generic templates won't grab your clients' attention. Personalising your reminders is a much better way to get them noticed, and I share an example of my own personalised reminder to show how you can infuse your personality and tone.So, you've turned on automated reminders, and you're feeling great about it. However, this is only half the battle. Often, we forget to actually receipt the payments that come through. This can result in unnecessary reminders being sent to clients and potentially awkward situations! To avoid this, stay on top of your receipting or take advantage of integrated payment options like Pinch or Paypal. Finally, if you still haven't received a payment after two reminders, I encourage you to jump on a phone call and check in with your client or customer. Perhaps your emails never reached them, or they're facing a personal issue that has prevented them from making payment. It's likely they're more stressed about the situation than you are about calling them. So, be calm, kind, and know that the more streamlined your invoice process is, the easier it will be to get to the bottom of any payment issue you may face. LINKSPrevious episode mentioned: My Exact Process for Timely PaymentsJoin the waitlist for The Bookkeeping Matters Blueprint hereConnect with Lisa Turner:Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/Join my Numbers List for small business news and fun, helpful tips hereGrab some FREE Resources hereCheck out my blog here

Welcome to another short and snackable episode of Your Bookkeeping Matters. Today we're looking at some core practices that can take your business from good to bad. Whether you're a seasoned business owner or just starting, these actionable strategies will equip you with the tools and insights you need to elevate your business game.1. Mastering Your Numbers:Understanding your financial metrics can be transformative for your business. Start with your Profit and Loss Statement and Balance Sheet Reports, which provide crucial information about your revenue, expenses, and overall financial health. You also need to identify and understand the KPIs that matter most to your business's success. These metrics aren't necessarily financial, it depends on what's important to you and your business goals. 2. Ensuring Legal Protection and Compliance:The importance of solid legal foundations cannot be overstated. DIYing your legals can lead to costly mistakes, such as removing crucial clauses in contracts that result in financial damage. Instead, seek the guidance of a solicitor who will create legal documents that perfectly suit your business needs.3. Standing Out Online:Having a strong online presence is a must for business success. To stand out from the competition and capture your target audience's attention, you need a great brand strategy. Define who you are, what you stand for, and the problem you solve. Then, get creative with your website design, social media content, and online advertising. 4. Nurturing Company Culture and Team:Your team is your greatest asset as a small business owner. Investing in their happiness, well-being, and professional development is crucial for both their growth and your business's success. Define your company values and culture, and create a positive work environment where everyone can thrive. 5. Prioritizing Work-Life Harmony:Striking a balance between personal and professional life isn't always possible. Instead, prioritize work-life harmony by setting boundaries, taking regular breaks, and making time for hobbies and interests outside of work. This is essential to preventing burnout, improving your mental health, and enhancing your overall productivity.I work with so many businesses daily. Not only my clients, but my clients' clients. These five practices are things I've seen work time and time again to help people become better business owners. So start implementing them today and watch your business thrive.LINKSFREE Pricing CalculatorJoin the waitlist for The Bookkeeping Matters Blueprint hereConnect with Lisa Turner:Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join my Numbers List for small business news and fun, helpful tips hereGrab some FREE Resources hereCheck out my blog here

Welcome to another short and snackable episode, where I'm diving into why value matters most in your small business. Today, we'll explore the idea that while earning money and making a profit is crucial for your business, it shouldn't be the driver behind it. I believe profit should be the result of what you're doing in your business and why.As a small business owner myself, I understand the overwhelming nature of keeping things in the business running smoothly, and how easy it is to lose sight of its true purpose. However, there's a secret to creating a thriving business that goes beyond making money. By prioritising value in what you bring to the table, you can make a meaningful difference in the lives of your customers, build stronger connections and ultimately, achieve long-term success.So, what exactly does "adding value" mean? I talk about it being more than just delivering a product or service and more about solving problems, meeting needs and enhancing the overall experience for your customers. Because let's face it - business owners who lead with the one goal of making money can be a total turn-off! Changing your mindset from a profit-focused approach to a value-based one can be challenging, but don't worry - there's a simple way you can start to make this shift. It all begins by revisiting your purpose - why did you start your business in the first place?Remember, your business is not just about the numbers; it's about making a lasting impact. Let's embrace the value-driven approach together and build a thriving business that benefits not only us but the customers and communities we serve!LINKSFREE Pricing CalculatorJoin the waitlist for The Bookkeeping Matters Blueprint hereConnect with Lisa Turner:Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join my Numbers List for small business news and fun, helpful tips hereGrab some FREE Resources hereCheck out my blog here

Today, I want to talk about something that every business owner can relate to - cash flow. Specifically, I want to dive into the topic of getting clients to pay you on time. I'll be sharing my exact process, the lessons I've learnt from past mistakes and some practical tips that have helped me ensure timely payments from my clients. To help get you started, I share my top tips on optimising your invoice and payment processes:1. Online Payment Options Making it easy and fast for your clients to pay you should be a top priority. I discuss the importance of providing user-friendly online payment options and share my personal favourite, Pinch Payments. 2. Automated Recurring InvoicesSay goodbye to manual invoicing! I explain how automated recurring invoices have been a game changer for me. I walk you through the process of setting up repeating invoices in your accounting software to save time and ensure consistency in sending out invoices to your clients.3. Automated RemindersEven the best clients can sometimes forget to pay. That's why automated reminders are a valuable tool to have in your invoicing process. I take you through how they work, the benefits of using them and the importance of finding the right balance in sending reminders.Streamlining your invoicing process will not only save you time and energy, but it will also ensure your clients have the best experience possible.So, if you're tired of dealing with late payments and want to improve your cash flow, then this episode is for you!LINKSJoin the waitlist for The Bookkeeping Matters Blueprint hereConnect with Lisa Turner:Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join my Numbers List for small business news and fun, helpful tips hereGrab some FREE Resources hereCheck out my blog here

As a small business owner, it is crucial to wear many hats and outsource areas that require expertise. However, one aspect that often gets overlooked is paying yourself. Though it might not initially appear as a top priority, paying yourself serves as both a reward for your efforts and a means of securing a financial return from your business.So, How Much Should You Pay Yourself? Unfortunately, there is no one-size-fits-all answer to this question. The amount you pay yourself depends on various factors such as your sales, expenses, and upcoming financial obligations. I'll guide you through the variables to consider and provide tips on how to determine the right amount to pay yourself.Once you have determined how much to pay yourself, it is crucial to understand the process of actually withdrawing the funds. I'll walk you through the steps of withdrawing money from your business bank account and transferring it to your personal account. I also highlight the often-overlooked issue of superannuation and the need to address it as a sole trader. Tax implications are another critical consideration. We'll explore income taxes and emphasize the importance of setting aside funds for tax obligations. I'll clarify the distinction between owner drawings and wages, and dispel the misconception that sole traders can't hire team members. You definitely can employ others, you just cannot employ yourself.Paying yourself as a sole trader is an integral part of running a successful business. It not only rewards your hard work but also ensures the viability of your venture. While there's no magic formula, my goal is to leave you feeling confident in navigating the complexities of compensating yourself effectively as a sole trader.Connect with Lisa Turner: Join the waitlist for The Bookkeeping Matters Blueprint hereInstagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join my Numbers List for small business news and fun, helpful tips hereGrab some FREE Resources hereCheck out my blog here

We've all heard the phrase, “know your numbers” but what does it actually mean? Understanding your numbers can transform your business so today I'm sharing which numbers you need to know and how this knowledge can empower you to make strategic decisions and keep your business healthy.When I talk about knowing your numbers, I mean having a clear understanding of the financial aspects that matter to your specific business. It could be analysing your Facebook ad spend, monitoring your product levels, or examining your overall business financials. It really does depend on your unique business and the industry you're in, but by knowing the numbers important to your business, you will gain valuable insights into your business's financial health and be able to make informed decisions. To truly grasp the health and profitability of your business, there are key financial metrics that you should be familiar with. Firstly, revenue or sales. While revenue alone doesn't indicate profitability, it is the lifeblood of any business. Understanding where your revenue comes from and the various revenue streams you have is crucial. Next, expenses, both fixed and variable. Fixed expenses remain consistent, while variable expenses fluctuate based on your sales. By understanding these expenses, you can identify trends and make adjustments to ensure financial stability.One of the most important numbers you have to be across is your taxes. The two big taxes in Australia are GST (goods and services tax) and income tax. Staying on top of these numbers will ensure you have enough money set aside when it comes time to pay your bill. While there are key financial metrics that apply to all businesses, it's important to tailor your focus to your industry and goals. Different industries have unique nuances, revenue streams, and expense structures. Therefore, it's crucial to identify the specific numbers that matter most to your business. You don't need to be a financial expert to grasp these concepts. Through the right tools, resources, and training, you can equip yourself with the knowledge to embrace and utilise these numbers effectively. So, start your journey towards unlocking the power of knowing your numbers today and watch your business flourish!LINKSPrevious episodes Mentioned:Understanding Your Fixed and Variable SpendingConnect with Lisa Turner:Join the waitlist for The Bookkeeping Matters Blueprint hereInstagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join my Numbers List for small business news and fun, helpful tips hereGrab some FREE Resources hereCheck out my blog here

Today, I want to talk about something that has been bothering me for a while – tax invoices. As someone who deals with business finances, I often come across cases where business owners fail to issue proper tax invoices, which wastes time, money and effort for everyone involved. So in this episode, I talk about the importance of tax invoices, the key elements they should include, and the common mistakes to avoid.Tax invoices are essential documents that facilitate business transactions in Australia. If you run a business, it's crucial to understand the fundamentals of a tax invoice. Today I share the eight simple items that a tax invoice should include and why they play a crucial role in business operations. As a business owner, it's part of your responsibility to issue correct and compliant tax invoices. By adhering to the tax invoice requirements, you not only maintain a professional image but also ensure smooth relationships with your customers. Getting the invoicing right the first time saves you time and avoids the need for rework.I also talk about the consequences of incorrectly charging, or not charging, GST. This can lead to serious implications for both businesses and their customers so today I cover the basics of what you need to know.Something I see often is business owners trying to shift responsibility for incorrect tax invoices onto others, such as their accountants. In my book, however, it's essential for business owners to take responsibility for issuing accurate and compliant tax invoices. Understanding the basics, such as your ABN and how to issue an invoice, is crucial for every business owner.Getting tax invoices right is not only a legal requirement in Australia but also a fundamental part of maintaining good business practices. Taking the time to understand and implement correct invoicing procedures will save you (and your bookkeeper) headaches in the long run and contribute to the smooth running of your business. LINKSPrevious episodes Mentioned:Do your (Tax) Invoices say the right thingsYou're GST Registered, Now What?Hiring a bookkeeper? Here's what you need to know.Connect with Lisa Turner: Join the waitlist for The Bookkeeping Matters Blueprint hereInstagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join my Numbers List for small business news and fun, helpful tips hereGrab some FREE Resources hereCheck out my blog here

As we all know, change is constant. Whether it's a sudden market shift, technological advancements, or unexpected curveballs life throws at us, being adaptable is a key superpower every business owner needs.Today,  I'll be diving deep into the concept of flexibility and sharing some practical strategies that will not only help you weather the storm of change but also thrive in it. I've personally experienced the power of these strategies in my own bookkeeping practice, and I want to share them with you so that you too can embrace change and keep your business ahead of the game.Remember, what works for one business may not work for another. Trust your instincts, do what works best for you, and always prioritise your customers. With these strategies, you'll be well-equipped to thrive in the dynamic world of small business.LINKSPrevious episodes Mentioned:Creating a customer-centric journey for growthConnect with Lisa Turner:Join the waitlist for The Bookkeeping Matters Blueprint hereInstagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join my Numbers List for small business news and fun, helpful tips hereGrab some FREE Resources hereCheck out my blog here

Whether your business has been on a short break or you're raring to go, it's essential to start the year by setting goals and envisioning your journey. To help you navigate the financial aspects, I've compiled a handy New Year Small Business Financial Growth Checklist that will help you start the year feeling organised and ready to go.I hope you find this checklist helpful in framing your year ahead and reaching your financial goals. It's important to start a new year feeling ready to tackle it head-on, and this checklist will help put the steps in place for you.LINKSPrevious episodes Mentioned:Strategic spending boosts your business not your bills Is cashflow the reason you're not growingBudgeting is not a dirty wordConnect with Lisa Turner:Join the waitlist for The Bookkeeping Matters Blueprint hereInstagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join my Numbers List for small business news and fun, helpful tips hereGrab some FREE Resources hereCheck out my blog here

This week, the show is taking a brief break, gearing up for the exciting new year ahead and crafting super fun episodes for your bookkeeping and business matters. With that in mind, let's take a stroll down memory lane to a classic episode, number seven, Where we delved into the unique challenges of e commerce accounting.In this episode, I'm sharing the eCommerce accounting challenges that you'll come across as a business owner running your business online. I share the common mistakes I see when eCommerce small businesses are DIYing their books to help you avoid wasting time and energy fixing everything. So, what do you do with all of the different fees you pay? There are so many payment methods that keep their cut before passing you the net amount into your bank, including AfterPay, LayBuy, and Shopify. Most of these fees can't be automated or integrated in any way so you need to find out exactly what the fees were and manually add them in followed by increasing your sales by the same amount. I'll run you through the two main reasons you need to ensure you're including all of the fees you're paying. We'll go on to explore your payment providers (including PayPal), what GST you can claim (if any) on fees and how it impacts your BAS, tracking inventory with systems and processes, and if you should integrate your sales platform with your accounting software. Tune in and find out how to handle all of the eCommerce accounting challenges you're facing to make sure you've got it all covered and avoid increasing your workload with unnecessary effort and cost! Enjoy this blast from the past, gain valuable insights and stay one step ahead. Then get ready for a wave of fresh new episodes hitting your ears from next week or next year, if you're tuning in on its release day.LINKS:Previous episode mentioned: My Top Tips for a smooth EOFYWhat the heck is GST and when should I registerInstagram:@accountedforyouWebsite:https://accountedforyou.com.au/

I'm taking a little breather over the new year, still in the background prepping some fun new episodes for you. So this week I'm bringing you not only a fan fave from a little earlier this year, but one of my own favorites. That's a write off. Isn't it? This one I step you through some of the nitty-gritty of business tax deductions, with a fun spin from our favourite Schitt's Creek character, David Rose. If you need some help demystifying business expenses and tax deductions (particularly in the Australian context), then you're in the right place.So, what exactly is this thing called a write-off? Well, friends, it's merely another name for a business expense or a tax deduction. Simply put, it's anything you purchase to cut down your profit or taxable income, giving you lower taxes. You could see it as a secret goodie bag for your business - but remember, it comes with some strings attached!The Australian Tax Office isn't playing around when it comes to write-offs. They've got three golden rules which I explain today:1. The purchase must be for your business, not personal use.2. If the purchase is for both business and personal use, you can only claim the business portion. 3. You need records as proof, and no, bank statements don't make the cut. You need tax invoices!Knowing the what and the how of deductions and business expenses is great, but it's pointless if you don't keep your tax invoices. Keeping those ATO-required records is your secret weapon. Without them, you could be shelling out more tax than you need to. Tax deduction eligibility will always depend on your unique business but to help you along, I'm sharing some common write-off categories that may be relevant to your situation. And while I know it's tempting to turn to Facebook groups or your best friend's aunt for advice, it's always best to get advice from a qualified professional to avoid any tax troubles. Enjoy this episode and I'll be back with you shortly with fresh content to get you on top of your bookkeeping matters.LINKSPrevious Episodes Mentioned:Do your (Tax) Invoices say the right thingsWhat happens when you don't keep accurate recordsConnect with Lisa Turner: Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/

As another incredible year comes to a close, it's time to reflect on the journey we've shared as entrepreneurs. One topic that every business owner faces is financial hurdles. Today, I want to take a moment to acknowledge and tackle these challenges and help us set our sights on a bright year ahead.Just like you, I run my own business, and I understand the hard work, challenges, and rewards that come with it. Financial hurdles can manifest in various ways—a sudden dip in revenue, unexpected costs, or complex processes like paying employees. Navigating these hurdles can be tricky if you don't have the right systems and processes in place. It requires keeping a keen eye on your numbers and having the right support team around you.As we reflect on the past year and any financial hurdles we encountered, it's important to remember that success isn't solely measured by revenue and profit. Running our own businesses allows us to prioritise our personal lives, support others, and build a nurturing environment for our team. These non-financial metrics play a significant role in our overall sense of fulfilment and success. I know personally that the flexibility of running my own business so that I can be there for my family, is well worth the stress!As we wrap up this year, take a moment to reflect on your business's journey and the financial hurdles you faced. Celebrate your achievements and resilience. It's no easy feat to navigate the complexities of running a business, and 2023 was particularly tricky for a lot of small businesses out there. Always remember, you're not alone on this journey. There is a whole community supporting you.LINKSPrevious episodes mentioned:Hiring Your First EmployeeProfit Strategies: How to Manage Your Money RightPricing For ProfitStrategies for Repricing After Registering for GSTReviving Your Small Business FinancesMastering Money MindsetConnect with Lisa Turner: Join the waitlist for The Bookkeeping Matters Blueprint hereInstagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join my Numbers List for small business news and fun, helpful tips hereGrab some FREE Resources hereCheck out my blog here

As we approach the end of the year, amidst the chaos of festivities and business closures, managing your books efficiently is crucial. So today, I'm sharing some practical tips to make your bookkeeping process smooth, simple and stress-free. Let's talk about the importance of simplicity in bookkeeping. It's not about the task itself being easy, but about completing it with ease. I'm all about working harder, not smarter - and as cliché as that sounds, it makes sense, right? This can be achieved by having a good, consistent process in place.First up, I discuss the value of batch bookkeeping - setting aside a specific time each week to handle your books, which increases efficiency and reduces overwhelm. It not only becomes a habit, but you'll remember what to do each time and get faster at it.Another effective strategy for easy bookkeeping is effective record-keeping systems. Using the right accounting software, like Xero, can transform your bookkeeping process. It's about choosing a system that aligns with your business needs and budget. I also cover categorisation in your chart of accounts, emphasising the need for categories that are tailored to your business. Remember, it's not about complication but about making things easy and intuitive for you.So tune in for some simple tips that will help you embrace simplicity and systems that work for you. Let's make bookkeeping a breeze for your small business!LINKSMonth-end checklistPrevious episodes mentioned:Are You Wasting Your Money on the Wrong Accounting Software?8 ways accounting software saves you time and moneyConnect with Lisa Turner: Join the waitlist for The Bookkeeping Matters Blueprint hereInstagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join my Numbers List for small business news and fun, helpful tips hereGrab some FREE Resources hereCheck out my blog here

Your customers are at the heart of your business's success, so in this episode, we explore how centering customers in your business can be a game-changer for your growth. We'll explore putting customers at the core of your decision-making and crafting an exceptional journey for them. Drawing from my own experiences as a business bookkeeper, I'll share practical insights on how to map out crucial touchpoints, ensuring your clients have a memorable and positive experience.I take you back to my early days in business when I lacked clear procedures and processes. I share my transition from this clunky process to a smooth and professional one through effective communication and onboarding.We'll explore the crucial touchpoints in the customer journey, such as website visits, inquiries, onboarding, and support. I'll explain the importance of defining these touchpoints, and guide you on evaluating touchpoints based on their impact and frequency. This helps in deciding which touchpoints to review and improve first.You will learn how to maintain consistency across all communication channels and the value of personalization in building trust. I'll share examples of personalized touchpoints, like handwritten notes and exclusive offers.I hope this episode will inspire you to map out your customer journey, prioritize touchpoints, and infuse a personal touch into your interactions. Remember that your business journey is dynamic, just like your customers' needs. So, stay adaptable, keep refining your approach, and watch your business flourish!LINKSJoin the waitlist for The Bookkeeping Matters Blueprint hereInstagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join my Numbers List for small business news and fun, helpful tips hereGrab some FREE Resources hereCheck out my blog here

Welcome to another short and snackable episode, where I'm simplifying the often-confusing world of fixed and variable spending costs. I've got some bite-sized number pieces for you, making it not only understandable, but actionable. By the end of this episode, you'll be a pro at working out which expense type your spending falls into and boosting your financial savvy. Fixed costs are those steady, predictable expenses that stay consistent month after month. Examples include rent, insurances, leases, and permanent staff wages. Understanding these costs brings budget stability and helps set profitable prices. They are time-based, like monthly or yearly, and more fixed costs mean higher sales needed to cover them.Variable costs on the other hand, change based on factors like sales volume. Think cost of goods sold, marketing, bank fees and casual wages. They're performance-driven and can impact profitability significantly. Keeping an eye on them is crucial.In this episode, I share some practical tips on how you can proactively look for ways to optimise your variable costs, making the most of them or negotiating the costs. I also encourage you to think about ways to streamline how you track your expenses, such as embracing accounting software like Xero. There are so many different ways and scenarios to mark your expenses, as it is unique for each and every business. What might be a fixed cost for one business could be a variable for another, or maybe not even exist at all. This is why it's important to be across yours and know how to keep an eye on them.Digging a little bit deeper into your fixed costs, understanding and calculating them, is not only about day to day operations, it's a strategic move for future planning and financial security.LINKSConnect with Lisa Turner: Join the waitlist for The Bookkeeping Matters Blueprint hereInstagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join my Numbers List for small business news and fun, helpful tips hereGrab some FREE Resources hereCheck out my blog here

Today, we're diving into a topic that might seem a little dull at first glance, but is absolutely crucial for safeguarding your personal and business data. Having seen my own clients fall victim to cyber crime, I encourage you to pay close attention as I take you through some cyber security essentials for your small business. Cyber crime is evolving rapidly, and criminals are becoming savvier in delivering their scams by the day. The repercussions can be catastrophic, often resulting in irrecoverable financial loss. In this episode, I run through some types of cybercrime to be aware of, including:- Malware: Malicious software designed to infiltrate your digital world, monitor activities and steal personal information.- Ransomware: Encrypts and locks your files, demanding a ransom for their release.- Phishing and social engineering scams: Deceptive emails or messages containing fake links to compromise your accounts and passwords.Thankfully, there are actionable steps you can take to protect your business. Things like conducting a cybercrime risk assessment, strengthening your passwords with unique codes and multi-factor authentication (MFA) can greatly help strengthen your security. By taking proactive steps and staying informed, you can safeguard your personal and business data against the ever-evolving landscape of cyber threats. So tune in and learn how you can stay cyber-savvy, protect your assets and ensure your peace of mind in today's digital world. LINKSConnect with Lisa Turner: Join the waitlist for The Bookkeeping Matters Blueprint hereInstagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join my Numbers List for small business news and fun, helpful tips hereGrab some FREE Resources hereCheck out my blog here

Are you aware of what your bookkeeper can and can't do? I often get asked by my clients to do things well outside my scope. However, this just comes down to people not having a clear understanding of the difference in roles between bookkeepers, accountants, financial planners and legal eagles. So today, I'm bringing you a short and snackable episode on a bookkeeper's no-go zones, where we either tread lightly or don't venture into at all. Now, you might be thinking, what's the problem with my bookkeeper dealing with all my financial matters? For starters, to provide services for most things numbers-related, you need specific training or registrations. That means you shouldn't ask your financial advisor to complete your tax return or your bookkeeper to write your employment contract terms and conditions. Unfortunately, it's not uncommon to find people offering a mix of any and all different services without the relevant licences. However, there can be serious implications for your business if the person doing work for you is not actually qualified in a certain area. I take you through some of the common no-go areas that people assume bookkeepers can help with, and discuss the specialists you should be engaging to complete these tasks instead. It's crucial to ensure your business is compliant in order to avoid high penalties or any legal disputes that may unexpectedly arise. So if your bookkeeper puts their hand up to do certain things for you that may be outside their wheelhouse, you need to be aware of the implications, both legal and financial. I hope this episode gives you some valuable insight into ensuring your financials are squeaky-clean, so that you can continue to grow your business with much more clarity and peace of mind! LINKSPrevious episode mentioned: Bookkeeper vs. AccountantConnect with Lisa Turner: Join the waitlist for The Bookkeeping Matters Blueprint hereInstagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join my Numbers List for small business news and fun, helpful tips hereGrab some FREE Resources hereCheck out my blog here

Many small business owners fall into the trap of a “do-it-all” mindset. We can think it's quicker and easier to do all the work ourselves but this just isn't true, and it's a quick path to burnout. In this episode, I'm going to explore the incredible power of delegation and how it can be a game-changer for your business. I'll debunk some common misconceptions about delegation and share the myriad benefits that delegation can bring.I'll also share my personal journey as a small business owner, recounting the moment when I realized that wearing all the hats was leading to burnout and limiting my growth potential. Delegation became my secret weapon and allowed me to focus on revenue-generating tasks.I also dive into some common mistakes that you should avoid, such as unclear processes and the detrimental effects of micromanagement. I'll illustrate these pitfalls with real-life examples from my clients' experiences.Practicality is key, so I'll outline a four-step plan for successful delegation: identifying tasks for delegation, selecting the right individuals or teams, establishing clear instructions and communication, and maintaining a feedback loop. This episode will give you the confidence to boost your business with some delegation magic for the first time or lean further into it. Just remember that it isn't a sign of weakness. It's strategic and it'll supercharge what you can do!LINKS: Join the waitlist for The Bookkeeping Matters Blueprint hereInstagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join my Numbers List for small business news and fun, helpful tips hereGrab some FREE Resources hereCheck out my blog here

Today we're delving into a topic that often baffles small business owners: GST registration. If you've recently taken the plunge into registering for the Goods and Services Tax (GST) in Australia, you're not alone in your uncertainty. Many entrepreneurs find themselves lost in the maze of GST regulations and deadlines, leading to sleepless nights and the fear of making costly mistakes.But here's the good news: you don't have to navigate the complex world of GST registration on your own. In this episode, I'll shine a light on the path ahead once you've become GST registered, providing you with a clear and simple guide to managing the steps that follow. By the end of this podcast, you'll be armed with the knowledge and confidence needed to handle your GST registration like a pro.In this episode, I clarify what GST registration entails and why it's not just as simple as adding 10 percent to your prices. I talk about updating your accounting software and what's involved in this first crucial step after becoming GST registered. Then I take you through how to make sure that you're charging GST correctly on your sales. Whether you're invoicing through accounting software, an e-commerce website, or other platforms, you need to ensure they're set up to apply GST on your sales. This step is essential to avoid overcharging or undercharging, both of which can lead to problems with customers and the ATO.I explain the ins and outs of claiming GST credits and expenses and why it's essential to review each invoice to avoid last minute stress. Then I guide you through the basics of preparing and lodging your Business Activity Statement (BAS) and the importance of noting deadlines on your calendar to avoid penalties.Navigating GST registration might seem daunting, but armed with the right knowledge, you can conquer it successfully. Stay informed, stay compliant, and let your GST registration become a testament to your business's growth and success. LINKSConnect with Lisa Turner: Join my Numbers List for small business news and fun, helpful tips hereJoin the waitlist for The Bookkeeping Matters Blueprint hereInstagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/Grab some FREE Resources hereCheck out my blog here

I'm taking a short break to refresh and gear up for more fantastic bookkeeping and small business insights. During this quick hiatus, let's revisit another fan favourite from the podcast archive. It's all about the 5 mistakes new business owners make, a must-listen for budding entrepreneurs.Enjoy this episode and stay tuned for fresh content coming at you from next week.______________Everyone makes mistakes but if we reframe them, we can make them into fantastic opportunities to learn, change and grow. In this episode, I'm sharing 5 mistakes all new business owners make. Write these down so you don't make them yourself or flip them around so you can change things up and do it the right way. I talk about common mistakes surrounding bank accounts, tax, business insurance, pricing, outsourcing and more.1. Mixing Personal and Business Finances: One common mistake is mixing personal and business transactions in a single bank account. This can lead to confusion, wasted time, higher tax costs, and the potential for missed deductions. The solution is to maintain a separate business bank account from the start.2. Not Saving for Taxes: Another mistake is not saving money for taxes. Self-employed individuals need to set aside a portion of their income to cover taxes and failing to do so can result in a tax bill that they are unprepared to pay. The key here is to open a separate business bank account for tax savings and consistently save a percentage of income.3. Lack of Business Insurance: Some new business owners fail to obtain the necessary business insurance, leaving them vulnerable to unexpected events. Make sure you consult an insurance broker to determine the appropriate insurance coverage for your business.4. Not Outsourcing When Necessary: Business owners often try to do everything themselves, even tasks they are not skilled at or that take up too much of their time. This can hinder business growth. The solution is to identify areas where outsourcing can be beneficial and start small, such as hiring a virtual assistant or a specialist for specific tasks.5. Underpricing: Underpricing products or services due to a scarcity mindset or by comparing prices with competitors can lead to financial struggles and undervaluation of one's offerings. Conduct a thorough cost analysis, including all expenses, and set prices based on the true value provided rather than simply trying to be the cheapest option. Regularly reviewing and adjusting prices is also important.Overall, keeping a positive mindset, learning from mistakes, and seeking individualised advice tailored to your specific circumstances will put you in good stead. I hope this episode helps you avoid some of the common pitfalls that new business owners fall into so that you can get ahead of the curve and set your business up for success from the get go. LINKS:Check out my free pricing calculator here to find out how you should be pricing your products/services! Join the waitlist for Power In Numbers here! Instagram:@accountedforyouWebsite:https://accountedforyou.com.au/

I'm taking a short breather to recharge and bring you even more valuable bookkeeping and business matters. During my quick hiatus, let's revisit a fan favourite from our podcast vault. It's all about pricing for profit and avoiding costly mistakes. This is essential for every business owner to be across.Enjoy this episode flashback and I'll be back with you soon with fresh content to supercharge your financial journey....______________This is a topic I love chatting about as it makes a huge difference to small businesses and their bank balances - profitability!Working with hundreds of clients across different industries and models over the years I have seen countless ways business owners work out their pricing, as well as the mistakes they've made along the way.I want to share my super simple pricing process with you, and some of the mistakes business owners commonly make, so you can avoid them.Pricing your products or services can actually be one of the hardest parts of running a small business because there is no exact science to it, and it is different for every single person. However - the foundations are the same.In this episode, you'll learn about the importance of working out your costs first (as well as what those should include), how to ensure you don't miss the GST and when you should be doing a pricing review. I also take you through the most common mistakes people make with pricing including not considering time and wages and discounting.You need profit to grow, for expenses, to build up savings and to invest in your business. If this is a topic you still feel unsure about, jump in - you'll be on your way to a profitable business in no time after listening.LINKS:Join the waitlist for The Bookkeeping Matters Blueprint hereInstagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/Join my Numbers List for small business news and fun, helpful tips hereGrab some FREE Resources hereCheck out my blog here

A skill that could truly transform your financial life is learning how to master your money mindset. Today I'm diving into this topic to share some insights on how you can conquer financial stress and take control of your financial journey.Money doesn't have to be a source of stress. It's all about our mindset and the stories we tell ourselves. So, where do these stories come from? Well, it turns out they're shaped by our upbringing, personal experiences, and the beliefs we've picked up along the way. All of your early experiences, whether they were positive or negative, helped form the stories you now tell yourself about money. These money stories that we all have directly impact the financial decisions we make, from our pricing and investing to the way we approach opportunities for growth. But it's not just business; our personal lives are affected too. Money stories influence our spending habits, our ability to save, and our overall financial well-being. Emotions come into play here too. How we feel about money can lead us to comfort purchases and sometimes, even overspending.In this episode, I share some practical tips on how we can overcome financial stress and reshape our money mindset. I talk about:1. Confronting Your Fears: Facing your financial worries head-on is the first step. I've found that making a list of these worries and working through them systematically can make them much more manageable.2. Embracing Gratitude: Shifting from a scarcity mindset to one of gratitude is powerful. It's about appreciating what we have and celebrating our accomplishments, no matter how small they may seem.3. Seeking Professional Help: There's no shame in seeking help from professionals like financial advisors, therapists, accountants, and bookkeepers. I've learned that it's a sign of personal growth and strength.4. Learning Your Finances: Investing time in learning about budgeting, investing, and other financial aspects is essential. It will empower you to make informed decisions about your money. Education is the key to financial confidence.Understanding your money mindset and actively working to transform it can lead to a life with less financial stress and greater financial well-being. Remember, your personal and business finances are closely connected, and taking control of your money mindset is a powerful step towards financial empowerment.LINKSConnect with Lisa Turner:Join the waitlist for The Bookkeeping Matters Blueprint hereInstagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join my Numbers List for small business news and fun, helpful tips hereGrab some FREE Resources hereCheck out my blog here

I'm back today with part two of our "Getting Foreign Currency Savvy" series. Last week we explored the world of invoicing sales in foreign currencies, simplified the basics of exchange rates, and discussed how using the right sales platforms or accounting software can facilitate super smooth transactions for your business. Today I'm flipping to the other side and focusing on how to handle expenses in foreign currency. Like always, I break it down step by step, providing you with the knowledge and the tools you need to sail smoothly without the hiccups. I begin with one of the biggest issues I see people facing when importing goods. I share the complexities of claiming GST on imports and the related duties, when to claim GST, and how to calculate it accurately. I also talk about the importance of tax invoices when making overseas purchases, and the crucial details you need to get from your supplier. As well as how to deliver this information to the ATO to make sure it's valid. I finish up by tackling some of the most common mistakes people make when taking care of their expenses in foreign currency. These are simple mistakes that can cause big issues, and I'll equip you with simple strategies that can keep you safe and savvy. Handling your finances in foreign currency can seem overwhelming but it doesn't have to be! This episode will equip you with the knowledge you need to navigate the world of foreign currency transactions with confidence and accuracy.LINKSConnect with Lisa Turner: Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join us in the Accounted For You Numbers Club on Facebook here Join my Numbers List for small business news and fun, helpful tips here Download the New Biz Checklist here Download the FREE P&L Generator here Check out my blog here!

We're going global today as I dive into the fascinating world of foreign currency transactions. This topic may seem daunting at first, but as always, I'm here to simplify the complex world of bookkeeping and help you understand what you need to know. In this two-part episode, I'll provide you with valuable insights and tips to ensure you're not losing out when dealing with foreign currency exchanges, processing the wrong amounts, or not invoicing correctly. Understanding the nuances of foreign currency can be a game-changer in the digital marketplace, helping you optimise cash flow and build stronger relationships with international clients. Today we'll explore the basics of foreign currency transactions and sales in foreign currency and next week I'll be talking about expenses in foreign currency.If you have an online business and you're attracting customers from across the globe, or perhaps you're sourcing resources and tools from overseas, understanding foreign currency transactions is essential. At the heart of it all is the exchange rate, and in this episode, I share the basics of what you need to know about exchange rates and where to find them. To invoice sales in a foreign currency and handle foreign currency transactions, it's crucial to use software that can handle different currencies. I explain how various sales platforms and accounting software will drastically simplify things for you and what are some things to look out for. While these systems are user-friendly, consider seeking professional assistance if you need clarification on the setup. Foreign currency transactions don't have to be daunting. By equipping yourself with knowledge and using the right tools, you can master this aspect of your business. Make sure you stay tuned for next week's episode, where I'll explore the other side of the coin: dealing with expenses in foreign currency, which comes with its own set of challenges.LINKSConnect with Lisa Turner: Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join us in the Accounted For You Numbers Club on Facebook here Join my Numbers List for small business news and fun, helpful tips here Download the New Biz Checklist here Download the FREE P&L Generator here Check out my blog here!

When it comes to reducing overheads in your business, a tempting solution can be to slash your bookkeeping budget. But let me tell you, that's no solution at all. Today I'm talking about why cutting corners on your bookkeeping budget can actually backfire, leaving you and your business worse off. So, grab your favourite drink, settle in, and let's explore why your bookkeeping journey matters more than you might think.Bookkeeping is more than just crunching numbers. It's the quiet hero that provides real time insights into your business's overall health, helping to steer your business on the right track. By understanding your numbers, you can make informed decisions and navigate the journey of entrepreneurship with confidence.As I've mentioned in previous episodes, accurate bookkeeping goes beyond basic record-keeping. It can be the difference between a thriving business and one struggling to stay afloat. Although it might be tempting to consider cost-cutting measures, a decision to trim the bookkeeping budget can lead to far-reaching consequences such as inaccurate financial insights, unexpected cash flow problems, and a mountain of stress. It's like going from smooth sailing to navigating a storm without a compass. Your growth strategy depends on accurate financial data. Without it, you could miss out on golden opportunities or overlook potential threats. Not to mention the emotional toll that disorganised finances can lead to. For a lot of business owners, the decision to outsource bookkeeping in the first place was to reduce overwhelm, save time and really hone in on their zone of genius. So before you make the decision to cut costs on your bookkeeping budget, remember why you chose to outsource in the first place. Have circumstances really changed? Or are you acting on impulse?Remember, bookkeeping is an investment, not just an expense. It's your guiding star through the business voyage, helping you navigate confidently and make well informed decisions. After listening to this episode, I encourage you to take a moment to reflect on the countless hours, expertise and meticulous attention to detail that a seasoned bookkeeper can bring to your business. LINKSConnect with Lisa TurnerInstagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join my Numbers List for small business news and fun, helpful tips hereDownload the New Biz Checklist hereDownload the FREE P&L Generator hereCheck out my blog here!

If you've ever felt overwhelmed by the barrage of acronyms in the financial world, you're in for a treat. In this episode, I'll be your trusty guide, helping you decode the common acronyms that frequently swirl around in financial conversations. By the time we're done, you'll have the confidence to navigate these letters like a pro.Although it might seem like the confusing abbreviations are used to keep outsiders guessing, it's actually all about facilitating smoother communication among those discussing your numbers. Whether it's bookkeepers talking to accountants or business owners like you, these acronyms serve as shortcuts that ensure everyone's on the same page. But I get it – when you're on the outside looking in, it can feel quite isolating. That's precisely why I'm passionate about demystifying financial jargon. Everyone, regardless of their background, deserves to understand these terms and not be overwhelmed by them because financial literacy equals empowerment.In this episode, I dive into some of those commonly confused acronyms that often leave people scratching their heads:1. ABN, ACN, and ARN: In Australia, an Australian Business Number (ABN) is crucial for trading businesses, while an Australian Company Number (ACN) is a must for company structures. Then we have the Australian Registered Number (ARN), which is essential for non-Australian businesses selling into the country.2. BAS and IAS: The Business Activity Statement (BAS) and the Installment Activity Statement (IAS) are forms you'll be submitting to the Australian Tax Office (ATO) to report various taxes. Understanding the differences between these forms is key to maintaining accurate records.3. PAYG: Pay As You Go (PAYG) comes in two flavours – PAYG Withheld (PAYG-W) for employee taxes and PAYG Instalments (PAYG-I) for prepaying your own income tax. These are crucial components of smooth financial management.4. P&L and BS: The Profit and Loss (P&L) report and the Balance Sheet (BS) provide insights into your business's financial health. Mastering these reports can give you a clear picture of your business's performance.Keep in mind that acronyms are simply shortcuts to bigger concepts. They're here to make your financial journey more manageable, not to confuse you. With a dash of patience and the insights you've gained today, you'll be navigating your financial alphabet soup with newfound confidence. When in doubt, you can always turn to experts such as tax accountants, bookkeepers, and financial advisors to steer you in the right direction.LINKSConnect with Lisa Turner:Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/Join us in the Accounted For You Numbers Club on Facebook hereJoin my Numbers List for small business news and fun, helpful tips hereDownload the New Biz Checklist hereDownload the FREE P&L Generator hereCheck out my blog here!

Last week, we talked about the vital importance of understanding your numbers, the heart and soul of your business. Today, I'm building on that foundation by delving into another crucial concept that I often mention, which is aligned spending. So, if you've ever wondered whether every dollar you spend truly aligns with your business vision, this episode is for you. Aligned spending is like curating your business's capsule wardrobe – intentionally choosing investments that resonate with and complement your core business goals. It's not about buying every shiny tool or service out there. Instead, it's about selecting investments that seamlessly fit into your business vision and enable it to thrive. In this episode, I share 5 actionable steps you can take to make sure you are spending to boost your business, not your bills. These are:1. Know Your Goals. Understand your short-term and long-term business objectives and keep these in mind when deciding where to spend your hard-earned dollars.   2. Understand Your Finances: Get crystal clear on your financial situation. Review your recent business expenses to pinpoint unnecessary costs that can be trimmed.3. Conduct Thoughtful Research: Say goodbye to impulse purchases. Always research potential investments, whether it's tools, services, or partnerships and set a decision timeframe to avoid emotional spending. 4. Review and Adjust: Remember, your business needs to evolve. Set regular reminders to review and adjust your expenses based on changing circumstances.5. Seek Advice: Bouncing ideas off mentors, fellow business owners, or financial advisors can provide fresh insights. Schedule a catch up with someone to talk about best financial practices. Remember, it's not about cutting expenses – it's about infusing purpose into every dollar you spend. I challenge you to reflect on your recent purchases: did they truly align with your business goals? If not, that's okay. Every step toward awareness brings the power to refine and adjust. LINKSConnect with Lisa Turner: Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join us in the Accounted For You Numbers Club on Facebook hereJoin my Numbers List for small business news and fun, helpful tips hereDownload the New Biz Checklist hereDownload the FREE P&L Generator hereCheck out my blog here!

In this episode, we're taking a step back from the nitty gritty to address a phrase you've undoubtedly heard me say: know your numbers. Now, this may appear to be a simple idea on the surface. However, there's much more to it than getting out the calculator or reading your P&L. The truth is, understanding your numbers will be your trusted compass, guiding you along the way to success in your business. Today, I explain what it really means to know your numbers, using some colourful analogies that I hope will make you feel inspired and connected to this important aspect of your business. I talk about going deeper than crunching numbers, and discuss the importance of having a holistic understanding of your business's financial health. When it comes to really understanding your finances, I encourage you to take a step further and go beyond the math. However, I'm not saying you should avoid paying attention to basic calculations; you absolutely should be across them. Instead, I invite you to dive deeper and uncover the narratives or hidden story within those figures. Are you seeing patterns when it comes to your monthly revenue? What are the trends you're noticing, and are there any roadblocks? It's important to peek behind the curtain to see the cogs that keep your business machine running smoothly. Uncovering the stories your numbers are telling will paint the true picture and give you an intimate bond to the heartbeat of your business.I talk about how knowing where you stand financially will help unlock your creative freedom. Once you have a solid understanding of your numbers, you'll have the confidence to take calculated risks, make decisions to experiment and pursue innovation. Now, I know numbers may not feel like the most exciting part of your business. However, I believe that they are a roadmap that is integral to embarking on an exciting journey of discovery and growth in your career. So, if you need some inspiration and guidance on delving deeper into your finances, this episode is for you. Remember, your business is an exciting journey full of potential, and your numbers are here to lead the way!LINKSConnect with Lisa Turner: Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join us in the Accounted For You Numbers Club on Facebook here Join my Numbers List for small business news and fun, helpful tips here Download the New Biz Checklist here Download the FREE P&L Generator here Check out my blog here!

This episode follows on from our previous one, where I explained what exactly write-offs are. Today, I give you a quick recap and then dive straight into which write-offs, AKA expenses, many business owners miss claiming. With the surge in remote working and recent changes with the ATO, home office expenses have become the talk of the town. But surprisingly, not everyone is aware that they can claim these. I talk about the costs associated with running your home office that you could potentially claim as write-offs, including:PhoneInternetPrintingElectricity and gasHowever, it's crucial to note that you might not be able to claim the entire cost of some of these expenses. And when it comes to the nitty-gritty of claiming, it's best to consult a tax agent.Many business owners either overlook or are unaware of the insurances they can claim. Not having any insurance can be disastrous, and the reasons for missed claims often stem from insurance payments not originating from business bank accounts. If you haven't reviewed your insurance transactions lately, now might be a good time.I talk about another type of commonly missed expense: merchant fees. These fees from payment providers like Shopify, Stripe, and PayPal are frequently overlooked, especially if you're manually tracking expenses. For creatives and e-commerce businesses, platform fees, art supplies, and even product samples are potential write-offs. Keeping a diligent record of what you spend can ensure you don't miss out on these claims.Your business expenses matter, and so does understanding and claiming them correctly. It's not just about saving money; it's about growing and managing your business the right way. When in doubt, always consult with professionals who will help you stay informed and give you your best chance at success. So, tune in today and make sure you're not missing out on any opportunities that could save you money. Happy claiming! LINKSBookkeeping Matters BlueprintConnect with Lisa Turner: Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join us in the Accounted For You Numbers Club on Facebook here Join my Numbers List for small business news and fun, helpful tips here Download the New Biz Checklist here Download the FREE P&L Generator here Check out my blog here!

Are you a little confused about which items you can legally claim as a write off? This week, I'm uncovering some of the nitty-gritty of business tax deductions, with a fun spin from our favourite Schitt's Creek character, David Rose. If you need some help demystifying business expenses and tax deductions (particularly in the Australian context), then you're in the right place.So, what exactly is this thing called a write-off? Well, friends, it's merely another name for a business expense or a tax deduction. Simply put, it's anything you purchase to cut down your profit or taxable income, giving you lower taxes. You could see it as a secret goodie bag for your business - but remember, it comes with some strings attached!The Australian Tax Office isn't playing around when it comes to write-offs. They've got three golden rules which I explain today:1. The purchase must be for your business, not personal use.2. If the purchase is for both business and personal use, you can only claim the business portion. 3. You need records as proof, and no, bank statements don't make the cut. You need tax invoices!Knowing the what and the how of deductions and business expenses is great, but it's pointless if you don't keep your tax invoices. Keeping those ATO-required records is your secret weapon. Without them, you could be shelling out more tax than you need to. Tax deduction eligibility will always depend on your unique business but to help you along, I'm sharing some common write-off categories that may be relevant to your situation. And while I know it's tempting to turn to Facebook groups or your best friend's aunt for advice, it's always best to get advice from a qualified professional to avoid any tax troubles. Happy bookkeeping!LINKSPrevious Episodes Mentioned:Do your (Tax) Invoices say the right thingsWhat happens when you don't keep accurate recordsConnect with Lisa Turner: Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join us in the Accounted For You Numbers Club on Facebook here Join my Numbers List for small business news and fun, helpful tips here Download the New Biz Checklist here Download the FREE P&L Generator here Check out my blog here!

In this episode, we will be discussing a topic that is often overlooked but crucial for the success of your business: bank accounts. Many business owners make the mistake of not having the right bank accounts in place, which can lead to confusion, mistakes and missed opportunities. So, let's dive into the world of bank accounts and explore what you need to know to set up the essentials.The first and most important rule when it comes to bank accounts for your business is to have a separate business bank account. Mixing personal and business transactions in the same account can lead to a host of problems, including difficulties in tracking income and expenses, potential legal issues and a lack of clarity in your financial records.Even if you are a sole trader and not legally required to have a separate business bank account, I highly recommend you do so. By keeping your personal and business finances separate, you can streamline your bookkeeping process, avoid confusion and ensure that you have a clear picture of your business's financial health.While you can get away with having just one or two main business bank accounts, there are a bunch of other types that can really benefit your business. I take you through the six different options that will ensure you have funds set aside for each of your obligations, such as: Savings AccountGST Account Tax account Expenses AccountWages AccountProfit AccountI share some ideas around what type of funds you can put into each account and why, as well as which areas of your business they will benefit. While having multiple accounts can provide clarity and organisation, it can add a tiny bit of extra admin - that's why it's important not to overwhelm yourself with unnecessary complexity. I encourage you to evaluate your specific needs and goals, and determine which accounts are essential for your business. Remember, just like with everything in business, there's no one-size-fits-all. As long as you're complying with your obligations, the way you structure your processes is your decision. So go find out what works for you, and run with it! LINKSResources mentioned: FREE New Business ChecklistConnect with Lisa Turner: Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join us in the Accounted For You Numbers Club on Facebook here Join my Numbers List for small business news and fun, helpful tips here Download the New Biz Checklist here Download the FREE P&L Generator here Check out my blog here!

Today is Part 2 of my financial tips that I'm sharing to help creative entrepreneurs thrive in their businesses. Last week we explored some practical solutions to help mitigate the overwhelm that can come with numbers. We also tackled things like time audits, tracking expenses, focusing on the important metrics and how it can all impact profitability. So jump on over to that episode if you want some juicy tips on how to face your numbers with less dread and a lot more confidence! In this episode, I discuss ideas you can implement in your business to transform your relationship with numbers, such as:Having fun! While most people do not find numbers exciting, it's a vital part of keeping things running smoothly in your business, as well as creating growth. I suggest ways to make numbers more fun, and talk about shifting your mindset so that you can turn stressful tasks into opportunities to celebrate your success. Educating yourself: While engaging professionals like bookkeepers and tax agents who really know their stuff is ideal, not everyone is at the point in their business to do so. That's why it's important to empower yourself to get educated on the money side of things. I run through different resources as budget-friendly options that can help you learn more about your finances. Engaging professionals: If you are in the stage of your business where you're able to hire the experts, I encourage you to work with those that specialise in creative industries like yours. They'll be able to understand the nuances of your field and provide valuable insight. They can also assist with things like automating processes or sending out invoices, allowing you to focus on what you do best. Automation: Now this is a game-changer for creative entrepreneurs. If there's a task that is bogging you down or stealing your focus, ask yourself: can I automate it? There's going to be an array of different options out there to automate the jobs you don't want to do. Utilising your accounting software or other programs can cut down on a lot of unnecessary steps.There are so many ways you can make your financial management more enjoyable. And remember, we're all unique, and we all require different processes. I encourage you to take something you've learnt and see if it works for you. If it doesn't, try something else.  It's time to go test things out!LINKSResources mentionedBlog post: Here's How To Make Numbers Fun In 2023Podcast episode: Why it's crucial to automate your invoicingCourse: Bookkeeping Matters Blueprint waitlistConnect with Lisa Turner:Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join us in the Accounted For You Numbers Club on Facebook hereJoin my Numbers List for small business news and fun, helpful tips hereDownload the New Biz Checklist hereDownload the FREE P&L Generator hereCheck out my blog here!

I'm super excited about today's topic because I'm about to share some practical financial tips to help you thrive as a creative entrepreneur. I've worked with countless creatives who've had similar questions and challenges, and now I want to spill the beans and get you on board with these amazing tips and processes that have worked wonders for our one-on-one clients.We're splitting this topic into two parts because it's so jam-packed full of tips and I don't want to overload you! This is episode part one, and next week, we'll drop part two.This episode is for you if you love what you do but absolutely dread facing the numbers - you're not alone. Many clients who've joined our Accounted For You family have expressed this exact sentiment. But fear not because there's a simple solution: focus on the numbers and reports that actually matter to you, instead of overwhelming yourself with all of them every month or quarter.Here's what you can do: take a step back each week or so and just glance at the key numbers that are most important to you. It could be as simple as three or four figures like your sales, GST owed, wages, and profit.Now, how can you do that without diving into a sea of reports? I'll take you through two options that you can start using today and explore how we present the useful info that our clients actually want to know in a format that stops their eyes glazing over.It's all about digesting and understanding the numbers without overwhelming yourself. So what can we do with those condensed reports? We can track our separate income streams or different services/products, so we know which of your services are profitable. Don't waste your time and energy on services that aren't making you money.We'll also explore how to track expenses for each product or service. The bottom line comes down to: if time is a cost for you, track the hours you spend on each job. This is controversial for some, but it can be essential for accurate measurement. How else will you know if you're over or under budget?I get it, diving into the numbers can be daunting, especially for creative souls. But trust me, tracking profitability on a job or service level is vital. It helps you uncover any areas that are draining money from your business, even if you have other profitable areas that are hiding the issue.Don't let your mindset hold you back with thoughts like, "I'm a creative, I can't deal with numbers." You absolutely can!Stay tuned for part two next week, where we'll dive into even more juicy tips. Until then, keep rocking your creative business and don't shy away from those numbers—you've got this!LINKSResources mentioned: EverhourTogglClockifyConnect with Lisa Turner: Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join us in the Accounted For You Numbers Club on Facebook here Join my Numbers List for small business news and fun, helpful tips here Download the New Biz Checklist here Download the FREE P&L Generator here Check out my blog here!

As we get ready to kick-start the new financial year, it's a common time for business owners, myself included, to review what we're doing and plan for the year ahead. Auditing our processes and streamlining them where possible is key in ensuring we reach our goals. Today, I'm talking about simplifying your business systems in the new financial year, and share some helpful tips on how you can create a smoother, more efficient workflow. Ever feel like your business procedures are overwhelming you? I've been there, but I've also seen the value in simplifying my systems to better serve my business and my clients. Today I'm talking about the processes that cover finance matters, marketing, client engagement and more. It's easy to get so busy that we end up overlooking the details. Are we utilising our resources efficiently? Could we get better at delegating? Today I talk about identifying redundancies, pinpointing more efficient ways of managing systems and how integrating accounting software into your operations can be a game-changer. While I've found solutions to make things run smoothly in my business, it hasn't always been smooth sailing. I share some of the mistakes I have personally made, and what you can do to avoid them. This episode is for you if you really want to gain a firm grasp on how your business is tracking and how to grow it in the most sustainable way. So tune in for some top tips on cleaning up your processes, and get ready to cut the business clutter for good!LINKSXero Setup Training VideoPrevious episodes mentioned: Should you outsource or DIY your booksHow To Outsource to Get Out of Your Own Way - with Hayleigh WatsonConnect with Lisa Turner: Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join us in the Accounted For You Numbers Club on Facebook here Join my Numbers List for small business news and fun, helpful tips here Download the New Biz Checklist here Download the FREE P&L Generator here Check out my blog here!

Welcome to my 50th episode! I'm so grateful to all of you for putting me in your ears every week and giving me the opportunity to share my short and snackable episodes about all of your bookkeeping matters. This brings me to today's episode on which metrics you should be measuring in your business to achieve sustainable success. There are so many different metrics you can use to measure how your business is going, but which ones really matter?For example, frequently I see business owners touting their amazing revenue figures without mentioning their profit at all. But what's the point of earning $1 million in revenue if your expenses are $999,000? So, to help you grow your business sustainably, we'll take a look at your profit metrics, pricing strategies, work-life balance, which products and services are profitable, diversifying your income streams, efficiency and productivity, and employee retention. This episode is perfect for you if you really want to gain a firm grasp on how your business is tracking and how to grow it sustainably without being chained to your desk 24/7. Enjoy!LINKSPrevious episodes mentioned: Simple steps I use to increase profitProfit Strategies: how to manage your money rightPricing for Profit (and mistakes to avoid)Connect with Lisa Turner:Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/Join us in the Accounted For You Numbers Club on Facebook hereJoin my Numbers List for small business news and fun, helpful tips hereDownload the New Biz Checklist hereDownload the FREE P&L Generator hereCheck out my blog here!

As we come to the end of the financial year in Australia, it's crucial for businesses to be across the various tasks involved when it comes to reporting their numbers. Today, we'll be exploring the fundamentals of Single Touch Payroll, and why it is essential for business owners to understand how it works. In the past, group certificates or payment summaries provided a breakdown of income and were relied upon for determining taxable incomes and assessing tax deductions. However, the government's introduction of the Single Touch Payroll (STP) initiative has replaced this process and is now the mandatory system for reporting to the Australian Taxation Office.So what exactly is STP, and why has it been introduced? Being a system where data flows into relevant government departments (not just the ATO), Single Touch Payroll aims to reduce administrative burden, as well as help create transparency around monitoring whether people are being paid regularly or correctly. In this episode, I dive into STP and share with you the important details on:Understanding what exactly STP reports on;How STP can link to your payroll software;The requirements and deadlines for employers reporting through STP;How STP gives employees access to their own tax and super information;Who you can and can't delegate your payroll responsibilities to.No matter the size of your business or number of employees, Single Touch Payroll is now the only way to do your payroll reporting. I hope this episode provides you with clarity so that you can ensure you're complying with your duties and setting up processes that will serve you in the best possible way. LINKSConnect with Lisa Turner: Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join us in the Accounted For You Numbers Club on Facebook here Join my Numbers List for small business news and fun, helpful tips here Download the New Biz Checklist here Download the FREE P&L Generator here Check out my blog here!

Are your stress levels starting to creep up as we approach 30th June?It's so common to see small business owners starting to feel waves of stress and overwhelm when it comes to their bookkeeping as we approach the end of the financial year – especially if you have been DIYing your own books.If this is you, listen in to this episode where I give you my top tips for stressing less this end of financial year.It's so important for you to plan and organise your numbers as we come into this super fun time. I find business owners who don't plan their cash flow and save for their tax bills, before they invest in other things, always end up chasing their tails trying to get back on track.You can also feel your stress levels rise if you're approaching 30th June and you're not even sure if you've been making a profit and if you'll have any tax to pay (and how much!). I often see business owners scrambling to find all their expenses, record them, and update their bookkeeping in a rush and there is a much easier and simpler way.Trust me, do your numbers regularly or invest in a bookkeeper to do it for you and don't leave it to the last minute.And if you're one of our clients at Accounted For You, you have absolutely nothing to worry about because we have it completely covered so you can relax and put your feet up! LINKSPrevious episodes mentioned: Profit strategies: How to manage your money rightHiring a bookkeeper - here's what you need to knowMy top tips for a smooth EOFYPrevious blog mentioned: The EOFY checklist for small business owners Download our FREE pricing calculator here! Connect with Lisa Turner:Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join us in the Accounted For You Numbers Club on Facebook here Join my Numbers List for small business news and fun, helpful tips here Download the New Biz Checklist here Download the FREE P&L Generator here Check out my blog here

Are you planning on registering for GST for the new financial year or already have and you're wondering how to approach repricing your offers, products and services? It can feel daunting but don't worry, I've got you covered in this episode.We're going to explore the strategies I tell my clients for repricing so that you have everything covered, your clients aren't upset you've raised your prices, and your BAS is filed without any mistakes or owed money.I'll take you through different approaches you can choose from to pick the best option for your business and where you are in your business journey. You can choose to absorb the GST, pop a flat 10% price increase on top of your prices, or complete a holistic review of all your costs and profit, and then add 10% on to come to your new selling price.It's up to you! Join me in a deep dive into how you can approach your own repricing. Remember, repricing after registering for GST can feel overwhelming, but with a clear plan and a strategic approach, you can navigate this transition smoothly. Make sure you take the time to understand your costs, calculate the GST component accurately, and ensure effective communication with your customers. By being proactive and flexible, you'll be able to adapt to the new GST regulations while maintaining a positive relationship with your clients.LINKSPrevious episodes mentioned: Profit strategies: How to manage your money rightPricing for profit (and mistakes to avoid)Do your (Tax) invoices say the right things Download our FREE pricing calculator here!Connect with Lisa Turner:Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join us in the Accounted For You Numbers Club on Facebook hereJoin my Numbers List for small business news and fun, helpful tips hereDownload the New Biz Checklist hereDownload the FREE P&L Generator hereCheck out my blog here!

Welcome back after a very short break! I'm thrilled to be back in your ears and bringing you more of what you asked for. From my Numbers List, you all let me know that you want to hear more about Ecommerce - which I absolutely love talking about! Now is the perfect time as we approach the start of a new financial year to analyse, evaluate and maybe start fresh with a new bookkeeper. E-commerce has evolved dramatically over the last couple of years with the introduction of so many different platforms, integrations, and payment providers. You have to keep up and have a strong understanding of all things accounting, not only basic bookkeeping, so you don't make an absolute mess of the financials.In this episode, I'm sharing three red flags to look out for with your Ecommerce bookkeeper. We're going to explore clearing accounts, PayPal and/or Strip bank account setups in your software, and if your bookkeeper is asking you for all of the correct invoices to accurately determine your taxes. If any of these red flags have popped up for you with your current bookkeeper and they haven't been able to give you some clarity or confidence that it's been taken care of, it might be time to look around for a new bookkeeper. These are also some great questions to ask of prospective bookkeepers if you're shopping around so tune in to find out these three red flags to give you confidence that you're working with someone who knows their stuff and won't leave you hanging at tax time! LINKSDownload our FREE pricing calculator here Connect with Lisa Turner:Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/Join us in the Accounted For You Numbers Club on Facebook hereJoin my Numbers List for small business news and fun, helpful tips hereDownload the New Biz Checklist hereDownload the FREE P&L Generator hereCheck out my blog here

As we wrap up Season 2 of the podcast today, I'm extremely grateful as I look back over the first two seasons of the show, and thankful that you allowed me to pop into your ears each week. As I take a quick break from recording and go into planning mode for Season 3, I encourage you to keep charging forward in your business and find new ways to tap into that big growth energy. One theme that seems to have woven its way throughout this season is the importance of finding support as you learn and grow as a business owner. You cannot do everything yourself, and today I encourage you to look at outsourcing as an expense that you'll see return on, and not a sunk cost to be avoided. Whether it's a business friend, a virtual assistant or bookkeeper, I believe having people you can lean on is vital in supporting your growth. I share my thoughts on another super important ingredient to finding big growth energy, and that is knowing your numbers. Whether you're a numbers fanatic or you're overwhelmed with keeping track of your financials, I believe that keeping up to date with this information is non-negotiable. I encourage you to take a look at previous episodes on the show that give you strategies on how to manage your money right.I run through some of my favourite topics and episodes of the podcast, all centred around growth and creating space for the things you value most. Do you know what you really want to achieve in your business? What will help you reach your goals? What is currently stopping you? I encourage you to also take a look back through this season and dive into any episodes you haven't already snacked on. I know they will inspire and challenge you to tackle everything you wish to achieve, and become who you want to be as a business owner.While we say goodbye to this season of the podcast, I look forward to bringing you new inspiration on all your bookkeeping matters, and to continue supporting you as you grow your business.LINKS Top 10 FAQs  Connect with Lisa Turner: Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join us in the Accounted For You Numbers Club on Facebook here Join my Numbers List for small business news and fun, helpful tips here Download the New Biz Checklist here Download the FREE P&L Generator here Check out my blog here!

While social media can be a wonderful tool for marketing your business, it's important to recognise that it's only one piece of the puzzle. To create a comprehensive marketing strategy, it's important to consider a variety of channels and tactics, including email marketing, content marketing, and paid advertising.In today's episode, I'm chatting with Marissa Batty, from The Savvy Studio. Marissa is an extremely talented content-creating queen and is the brains behind the words you see on my very own social media, blogs, website and many other things.Marissa helps us understand how to use organic and paid social media marketing to our advantage in business. While both methods have their benefits, there are some key differences between the two. Organic social media marketing is a slow burn, taking time and effort to build a following and engagement. Paid social media marketing, on the other hand, can deliver quick results, but can also be expensive.That's where hiring a social media manager comes in. A social media manager can help you navigate the complex world of social media marketing and develop a strategy that's tailored to your business goals. They can help you determine which methods are best suited to your needs, whether that's organic social media marketing, paid advertising, or a combination of both.Marissa runs us through the difference between an expensive social media manager and a cheap one. While it might be tempting to opt for a cheaper option, it's important to understand that you get what you pay for. A cheap social media manager might be able to deliver basic social media management tasks, but they may not have the expertise and experience needed to develop a comprehensive strategy that aligns with your business goals.I'm so grateful to have Marissa on the show to share with you how diversifying your marketing efforts and outsourcing your content creation can lead to a broader audience, maintain greater control over your messaging and brand alignment, and increase conversions and sales.Social media is not what it used to be, and it just isn't so simple anymore. Tune in to hear all of Marissa's expertise and tips to learn how to build a comprehensive and successful social media and marketing strategy and increase your growth and success. LINKSResources mentioned: https://skedsocial.com/ https://www.airtable.com/ https://www.canva.com Connect with Marissa Batty: Website: www.thesavvystudio.com.au Instagram: @thesavvystudio_auConnect with Lisa Turner:Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/Join us in the Accounted For You Numbers Club on Facebook hereJoin my Numbers List for small business news and fun, helpful tips hereDownload the New Biz Checklist hereDownload the FREE P&L Generator hereCheck out my blog here!

Have you hit a rough patch and found yourself in the red? This is the episode to help get you back on track! We'll be going through practical tips to help you turn your finances around and get back on track.We'll look at how to revive your small business finances by simplifying, focusing on increasing revenue through easy steps, understanding your financial situation, seeking professional help, and examining any potential funding resources you can investigate.Don't overcomplicate it. Look after the cash that you have and make sure things are going to go the way that you want them to with proven popular products and services. I'll then talk about strategies for increasing revenue, including up-selling and cross-selling, using add-ons, and making it really easy for people to buy from you.Do you have a complete understanding of your numbers? I'll take you through how to get a clear picture of your business's current financial situation. This includes understanding your cash flow, profit and loss, expenses and debt.  Running a small business is a very tough gig and can be super stressful not only financially, but for you personally. It is not weak to ask for professional help and there are so many resources and services you can depend on.By the end of this episode, you'll have a better understanding of how to take control of your small business finances and get back on the path to success. But remember, Rome wasn't built in a day, and neither will your business's finances be fixed overnight. But with perseverance and a solid financial plan, you can get back on track and see your business thrive!LINKSPreviously mentioned episodes:Is Cashflow The Reason You're Not GrowingProfit Strategies: how to manage your money rightConnect with Lisa Turner:Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/Join us in the Accounted For You Numbers Club on Facebook hereJoin my Numbers List for small business news and fun, helpful tips hereDownload the New Biz Checklist hereDownload the FREE P&L Generator hereCheck out my blog here!