Inthebooks

Still using a pen and paper to keep up with your many tasks? As a business owner you are not just managing your tasks, you are managing processes, team members, and (sometimes) even your team members tasks. You need something a bit more advanced.

In this week’s podcast episode we talk about our favorite applications that make managing your many workflows easy.

Check it out below.

https://youtu.be/Ed97TZQoPZw

Applications can be frustrating sometimes….does it work? How long is the free trial? Another login I have to remember?

But when you find one that helps make your workflows more efficient, magic!

In this podcast episode we dig into our favorite applications for managing workflows. It’s not one size fits all and there are pros & cons to each. So give it a listen to decide which one is right for you.

https://youtu.be/Ed97TZQoPZw

Setting up Quickbooks requires a bit more thought and care then just connecting your bank accounts.

One task we recommend spending some time on is making sure your chart of accounts is properly organized.

We know this can be pretty intimidating for new business owners, so start with making sure the accounts are appropriate for the transactions.

It will be much easier for a future accountant to sort the few accounts then the many many transactions.

To get more tips on how to properly setup your Quickbooks account, check out our latest podcast episode. Link in our bio.

Workflows are intended to make your life easier! So when tasks that are important to your business lack workflow, they can feel tedious. Let’s work smarter, not harder.

When it comes to your bookkeeping it is important to hold onto receipts and tie them to your expenses in your Quickbooks account. Which sounds extremely tedious if every time you receive a receipt you have to hold onto it, wait for it to post to your Quickbooks account, and then attach the receipt.

Instead consider looking into a document storage application. You can forward emails to folders, snap pictures of receipts, and auto-sync reports into predetermined folders so all the documents are ready for you the next time you log into Quickbooks. That easy.

To grab more tips on how to efficiently setup your Quickbooks account, check out our latest podcast episode by clicking the link in our bio.

It’s not super black and white…

Most examples are rather grey, which means they may check boxes as both an independent contractor and employee. So to help you determine which is the proper classification we will likely ask a lot of questions.

In the image, we discuss some general rules that can help you differentiate.

To learn more about how to properly classify contractors and employees, check out our latest podcast episode.

https://youtu.be/lfF2SAd0H-o

An independent contractor, in short, is someone who has more control over the work they do.

Compared to an employee, independent contractors have more say over how the work gets done but they do not have access to certain benefits like minimum wage and severance pay.

These are just a few pros and cons of both options. When deciding it is important for the business to determine their needs and budget, while the contractor should be aware of their rights.

To learn more about determining contractor vs employee status, check out our recent podcast episode!

https://youtu.be/lfF2SAd0H-o

We hope you have loved listening to the podcast as much as we have loved putting it together.

It is such a fantastic & productive way to grow your business within an area often neglected by business owners → bookkeeping.

We are putting together content for next month and I want to hear from you! Leave a comment or send me a message with a subject you would like us to cover.

What payroll apps do we recommend? Why do workflows never seem to work for you? Can’t we just do bookkeeping on the last day of the year?

Get your questions answered on the podcast!

What’s something that can make filing taxes significantly easier?

In our latest podcast episode, we discuss how this account is a MUST for end of the year payroll tasks.

Utilizing your My Business Account! This account gives you the chance to interact directly with the CRA. You can look up information on payroll, corporation income taxes, exercise taxes, exercise duties, and so much more.

In our latest podcast episode we discuss how this account is a MUST for end of the year payroll tasks.

To learn more, visit the link for the latest podcast episode.

https://youtu.be/DZgW2hN-V8Y

It is one thing to put off bookkeeping but payroll is definitely not something you want to neglect.

As soon as we clock into the office in the new year, you need to add a few payroll tasks to your to-do list. Starting with filing your T4 Slip & Summary.

But let’s start with the basics -> defining a T4

T4 details are more than just an employee's wages. It will include things like taxable allowances and deductions withheld during the year.

To learn more about the payroll tasks every business owner needs to complete at year end, check out our latest podcast episode by visiting the link:

https://youtu.be/DZgW2hN-V8Y

As workflow experts, there are a few things we look for to ensure a workflow is efficient.

One red flag we look for is do you have a process for collecting payments from clients.

If a process is not established, it begs the question -> how are we ensuring we are getting paid for all of our work completed?

You may have a process for checking payments but we want to make sure this process is being efficiently carried out.

For example, are you reviewing AR reports? If the payments are frequent or cash, how often are we reconciling reports?

This is just one red flag but we list 2 others in our latest podcast episode. To give it a listen click the link below:

https://youtu.be/oBLKDMlqCG8

Happy New Year!.

We have some fun things in the works this year but here is just a sneak peek.

I hope you join us on this journey.

Today, celebrate and enjoy some R&R - tomorrow, schedule a consultation with us to begin making 2022 your best year yet.

If you have spent any amount of time with us you will quickly learn how important we find workflows to be.

Which means we also spend a lot of 1-on-1 time with our clients perfecting their workflows.

In today’s episode we talk about the start of that process and the red flags we consider when trying to determine whether a workflow is inefficient.

To give it a listen, click the link below:

https://youtu.be/oBLKDMlqCG8

In this week’s podcast episode we talk about the steps a business owner needs to complete each month for their bookkeeping.

Doing so will:

-> Ensure accurate income / expenses on your financial reports
-> Save you time come tax season and ensure you are compliant should you be audited
-> Increase your income by ensuring every invoice is paid

If your business is ready to take advantage of these benefits, visit the link below:

https://youtu.be/4LN7YWfGY_E

Wishing you a Happy Holiday season from our home to yours.

If you are a business owner, you definitely have workflows. They may be informal, not written down, or change occasionally but they are there!

As a professional bookkeeper, it is my job to make sure we are optimizing workflows and efficiently putting processes in place. Which is also why I created this guide to help you through the process of establishing your own workflows.

Our guide, how to create an efficient workflow, is all about building processes in your business that work for you. This goes beyond bookkeeping. This is about all the processes in your business.

To grab your download, click the link in my bio

Not really sure what is needed for bookkeeping as a business owner?

No problem - we broke down the bookkeeping steps business owners need to complete each month in order to have effective bookkeeping in today’s episode.

Our hope for you is that you don’t feel burdened by your bookkeeping but empowered by the information it provides. To do that, we got to simplify the information.

To learn about what steps you need to take as a business owner each month, visit the link below:

https://youtu.be/4LN7YWfGY_E

There is a reason bookkeepers are excellent in establishing workflows. The process starts even before you swipe your payment card.

From choosing the right bank account to making sure you aren’t charged multiple times for products, processes are a way to keep a close eye on the operations of your business - without the business owner having to watch every part of your business all the time.

To get our pro tips on establishing processes in your business, check out the link below:

https://youtu.be/uQ5OMNiLm9I

We have a lot of fun projects in the works that help provide high quality bookkeeping tips.

A recent project consisted of lights, camera, and plenty of help from the awesome professionals at Windrun media. They provided excellent support in planning, recording, and ex*****on.

I would highly recommend their services to anyone looking for modern marketing video support!

Check them out here: https://www.windrunmedia.com/ or by visiting our website at https://www.inthebooks.ca/

Our second podcast episode is out in the world and we are starting strong - What is a Workflow & Why Every Business Needs Them

Workflows are the foundation of every business to ensure quality, consistency, and accuracy. No matter the size of your business, establishing good workflows is essential.

It will also be something you are constantly updating throughout the life of your business.

To learn more about how to establish your workflows from a process expert, check out the link below:

https://youtu.be/uQ5OMNiLm9I

I wasn’t always a Quickbooks fanatic - I used to run my own event planning business. Which prepared me for bookkeeping more than you would first think.

When putting on events you need to make sure points of interest work seamlessly together. The flows of people working together need to be well integrated and all pieces considered.

Bookkeeping is similar. You need to consider all the moving parts to make sure you are efficiently and accurately compiling your financial statements.

To learn more about how I went from event planner to bookkeeping pro - check out the link below:

https://youtu.be/tOQeG8jwFMs

Hi, I’m Kara Greenwood

I am the owner of In the Books, a solutions firm that provides business owners with the bookkeeping support they need to grow their business.

My mission has always been to provide clients with much more than the bare minimum. We want every client story to be a success story. In doing so I provide a personalized approach that focuses on accuracy, workflows, and efficiency.

When I’m not in the books (or the office) you can find me on a run or hanging with my husband and 2 kids.

I hope you give us a follow as we continue to provide valuable information that helps you grow your business.

We’ve launched a podcast! Today is the release of our first episode and a great introduction into who we are and what you can expect in the episodes to come.

To learn more, click the link below:

https://youtu.be/tOQeG8jwFMs

Inthebooks updated their phone number.