Stop Ghosting Your Bookkeeping: Why Knowing Your Numbers is Non-Negotiable
Be honest, when was the last time you checked in with your numbers? And I don’t mean that frantic moment of panic when tax time rolls around and you’re scrambling to make sense of a year’s worth of transactions. I mean really knowing where your business stands, what’s coming in, what’s going out, and how you can use that information to make smarter, more aligned decisions.
If the thought of bookkeeping makes you groan, you’re not alone. A study by Intuit QuickBooks revealed that more than 40% of small business owners consider themselves financially illiterate.
But here’s the thing: staying on top of your finances isn’t just about keeping the tax man happy - it’s about empowering yourself as a business owner.
The Real Cost of Ignoring Your Books
Cash Flow Chaos: According to a U.S. Bank study, 82% of small businesses fail due to cash flow problems. If you’re not tracking what’s coming in and going out, how will you know if you’re actually making a profit?
Tax Time Stress: A research study in Australia found that almost “one in three (31%) find the end of the financial year and tax submission time to be stressful, with 19% of Aussies preferring to pick up their pooch’s poop than complete their tax return.” The reality is, the longer you put off bookkeeping, the more painful tax time becomes.
Missed Opportunities: You can’t make aligned, strategic investments, set realistic goals, or price your offers appropriately if you don’t have a clear financial picture.
The Simple Shift: Make Bookkeeping a Habit
Here’s the good news - you don’t need fancy software (unless you want it) or a finance degree to keep your books in order. You just need a simple system, a commitment to consistency and a good ol’ play list.
Pick Your System: Whether it’s a dedicated bookkeeping software (like Xero or QuickBooks etc) or a simple spreadsheet, choose something that works for you. The best system is the one you’ll actually use! Currently for me, that’s a trusty, good old, google sheet.
Schedule a Monthly Money Date: Block out 30-60 minutes once a month to review your finances. Pour yourself a cuppa (or if you’re like me a cup of hot water), put on your favourite focused time playlist (I love instrumental playlists like this) and make it a non-negotiable appointment with your business.
Track Everything: Keep an eye on your income, expenses, and any upcoming financial obligations. Scanning, saving and filing receipts monthly makes it so much easier than sorting through a year’s worth of receipts in one go.
Know Your Key Numbers: At the very least, aim to be across:
Your monthly revenue (how much you’re bringing in)
Your expenses (what’s going out)
Your profit margin (what you’re actually keeping)
Your tax savings (so you’re not blindsided at tax time)
Financial Clarity = Business Confidence
When you stay on top of your numbers, you’re not just avoiding a tax-time disaster - you’re stepping into the role of an empowered, confident CEO. Knowing exactly where you stand financially means you can make informed, strategic decisions that help your business grow instead of just hoping for the best.
Ready to ditch the stress and finally stay on top of your bookkeeping - without the overwhelm?
You don’t have to do it alone! I’ve created a free 30-minute bookkeeping co-working audio session designed to keep you focused, motivated, and (dare I say) maybe even enjoying the process 🎧✨
Pop in your earbuds, press play, and let’s get those numbers sorted together - no fancy software required, just a solid game plan and a little accountability magic.
Sign up to get instant access and make book keeping a breeze!
Where to next?
Now that we’ve tackled bookkeeping, I’m curious - what’s the other task in your business that you know you should be doing but always seem to put off? Is it organising your inbox? Creating that sales page? Clearing your desktop ? Drop a comment below and let’s start normalising the fact that we all have those sneaky to-dos that linger a little too long. Who knows - your response might just inspire my next productivity hack or co-working audio!
Hey, I’m Catherine!
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