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.
So next time bookkeeping creeps up your to-do list, treat it like a self-care ritual for your business - a chance to connect with where you’re at and where you’re headed.
Over to You
What’s one small money habit that would help your business feel calmer and more grounded this month? It doesn’t have to be perfect - just something that brings a little more ease, clarity, or trust into how you connect with your numbers. Share it below (or simply note it down for yourself) - tiny shifts create powerful ripple effects 💗
Hey, I’m Catherine!
I’m here for the women doing business differently -
building something beautiful without burning out.
Here, you’ll find simple systems, soulful structure, and a softer way to scale.
