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Are you scared by doing your books?

Matthew is a Copy Writer and Social Media Expert. He is good with words and has been a freelancer, sole trader for around four years. His accounting and bookkeeping included a colour-coded excel spreadsheet, and invoices done, individually, using a template created in MS Word. Why did he do this? MS Word and Excel was what Matthew used in his everyday life. It was what he was comfortable with. Automation, going all online, especially when it could cost money, or make his billing and invoicing fail, in his mind, caused a lot of fear for him. In 2015, Matthew decided it was time to mature as a business, to take himself more seriously. He subscribed to the services of an accountant in March. They set him up with a Xero account, gave him an hour’s worth of training, and then left him to it, in his words. Now, while Matthew may be great with words and writing, when it comes to numbers, bookkeeping, his accounts and invoicing and so on, he is not very confident at all. This means he puts it off for a later date, eventually not doing it at all. That leap he made to find an accountant was really a wasted effort. When I met Matthew, he was a little embarrassed. He had over 12 months’ worth of transactions which needed reconciling, and it felt like too much to do. He had forgotten his training and felt very disillusioned with his accountant and their lack of support. So, what did I do? The first thing I did was to sit down with him and reassure him that the mountain of work he was looking at was not something to be afraid of. It is work I do every day, and I could help him get it under control. I know how Xero works, and I can clean up his mess, and show him how he can use it so he gets it, and won’t be so intimidated by it. The second thing I did with Matt was talk to him about what he does as a business, and where he thinks he could go as a business. I am more than just a bookkeeper for my clients. I am there in a supportive and a consultation role. I am going to help Matt create a budget, educate him on how he spends his money, and better ways to spend his money, how to make money, and how to grow. I could see in Matthew a potential. Being honest with him, we discussed how, right now, he was really a hobbyist. Yes, he was making enough money to cover his bills, with a bit of play money left over. But he really was not operating like a business. This is something I was going to help him with- take him from the hobby level to the business level. Big clients, paying big money, giving him a good salary, and a chance to save for bigger goals. And that is going to be step three- Setting Goals. Together we will set realistic goals. We will break them down into targets for Matthew to hit. We will determine the KPI’s for each goal, and monitor his work closely to ensure he makes those KPI’s. And when Matthew begins to hit those KPIs each and every month, we’re going to celebrate his wins. It is essential that you celebrate your wins, all the time. If you don’t, then it can just feel like plodding along from one moment to the next. Matthew is a client who accepts that bookkeeping is not his strength, but he is a man who can understand the concepts and processes behind it, and does like to know things. So I will keep him informed and educated on what is going on. Together, we are going to build his business, make it run smoothly and profitably.
“I know there are many aspects of a business, not just the writing side of things. I know that successful people have bookkeepers, and accountants and all of that, to help them, so that the person running the business can stay focussed on what they are good at. I am so happy that I met Natasha. She is more than just someone who ‘does the books’, and reconciles and all of that. She is going to do so much more for me. She is going to support me, show me how to build and maintain a budget, keep an eye out on when I am doing bad things with my money and so on. She feels more than just someone at the other end of a phone, doing the books once a month. And that is what I need. I am excited to think how we’re going to work together, how she is going to show me ways to be better with my money.”
If you would like to know more about how I can help you become more with your business, please call me – 0407 338 130, or email – natasha@pinnaclebookkeeping.com.au

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