How to Track Your Financials in Less than Thirty Minutes Per Month


Everyone needs to have a Quickbooks Certified bookkeeper. I've had one ever since I started in the business, and I use it to check my Chart of Accounts in Dropbox. You have a copy of my Chart of Accounts in your Dropbox and you can give it to a bookkeeper to figure out a similar system. The whole point of this is having the numbering system instead of the generic chart of accounts that comes out of Quickbooks.

I have all of my revenue in the 4,000's and then my buyer agent splits and my lead generation splits are divided into different numerical brackets. You can look at my series of numbers and follow them, or you can create your own. It's just helpful to have them in place.

I advertised on Craigslist for a bookkeeper and found an excellent person. She's local to the Charlotte market but she's worked with some consulting clients of mine in different markets. You can email her everything that she needs, and you might want to look into this because she's really good at what she does. At the end of every month I send her my stuff, and by the 5th of every month I have my financials for the month prior.

I cannot emphasize enough how important it is to run books and monitor your profitability.

My bookkeeper tends to prepare two reports for me. One consists of my year-to-date numbers, and one is a monthly report so that you can see how you're performing from month to month. You can monitor any unexpected expenses this way, and that can go a long way towards sustaining profitability.

Quickbooks is the #1 small business bookkeeping platform. It's never going to go away. You have to work in it. I wouldn't waste time with Quicken, it's too time-consuming. I own four companies, and I can do everything I need in 15 minutes and send it to my bookkeeper. In less than 30 minutes per month, I get all the financial clarity that I need in my business.

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