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5 Tips For Tackling Your Books

October 20, 2022

Don’t let your bookkeeping get away from you. We compiled some simple and easy ways for you to tackle your books regularly. When it comes to keeping up with your bookkeeping, be repetitive and disciplined with completing each task until it becomes a habit and part of your every day routine. 

Be consistent.

Consistency is key in most areas of life, but especially when it comes to your books. The number one recommendation we have for keeping up with your books is to be consistent with it. Sit down every single day to ensure the transactions for the day have been logged with details included and receipts attached. By simply working on your books a little bit every day, this will help greatly.  

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Keep Up With Your Books

October 14, 2022

Once you set up your books properly, it becomes time to keep up with the cash that flows in and out of your business. When we say “keep up” with your books, we actually mean that you need to trace each and every step. Business can move quickly and your bookkeeping needs to catch it all. But, what exactly should you be keeping up with? 

Transactions

This should go without saying! You must keep up with logging where your money goes, as well as where it comes from. In simple terms: your company’s sales and purchases. A single missing entry will throw your books off balance entirely. Consider downloading the mobile app so you can add entries on-the-go, setting up journal entry automation, and reconciling on a weekly basis. 

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Becoming a Bookkeeper - Busting Common Myths!

August 5, 2022

Are you curious about bookkeeping? Are you considering being a bookkeeper? There are plenty of myths people believe when it comes to being a bookkeeper that we want to bust. Before you pursue becoming a bookkeeper, let’s set some things straight first! 

A degree is not required. 

To be a bookkeeper, there is not a required degree or “major” to study. Anyone can become a bookkeeper if they have the right program, the right training, and a self-motivation to learn and execute. There are various trainings and classes available, so do your research before pursuing the first course you find. 

Certifications put you ahead. 

Being certified in your specific bookkeeping software helps you stand o

Bookkeeping Tasks to Conquer Each Week

March 11, 2022

Bookkeeping is an act of repetition. You must keep up with specific tasks on a weekly, monthly, quarterly, and annual basis. A company’s “bigger picture” is important, but can’t be seen, or even accomplished, without maintaining the day-to-day minute details of your bookkeeping, which helps you paint a clearer, more accurate picture over time. What should you be doing on a weekly basis to keep up with your bookkeeping? 

Issue invoices to clients/customers. 

To stay on top of your Accounts Receivable, make sure you are sending out invoices in a timely fashion. In addition, use this time to send out any payment reminders for overdue invoices. 

Record and manage payments received. 

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Signs It’s Time For A Bookkeeper

January 3, 2022

A new year many times brings new direction as we try to find new ways to live our lives! As a business owner, you have much on your plate - and most times, it seems to be overflowing. It’s hard to keep up with the day-to-day aspects of running a business while also implementing an overall strategy for the broad picture of your company’s success. This is where delegating tasks and creating a solid team of colleagues you can count on comes in handy. This year, it may be time to turn your bookkeeping over to a professional. Here are some signs it’s time to make the change…

Lack of time. 

As a CEO, it’s normal to wear many hats. But, when you try to juggle multiple projects and areas of the business at one time, this is when

6 Things To Review With Your Bookkeeper Regularly

October 15, 2021

Whether your business has an in-house bookkeeper on staff or you outsourced your bookkeeping to a professional, there are certain things you need to review when it comes to your business and its finances. Whether you connect weekly or quarterly, be sure to review the following…

Cash flow. 

Review the in’s and out’s of your money. You should know where you stand financially, and where you are projected to go in the coming weeks and months. Discuss trends and prepare accordingly. 

Financial statements. 

Take things a bit deeper and analyze exactly where your business is making money and losing money. Work with your bookkeeper to create a sound plan for reaching your financial goals using the data gi

Bookkeepers Go For The Gold

July 30, 2021

Use the 2020 Olympics as inspiration to take your bookkeeping to the gold! Olympics athletes and bookkeepers have more in common than you’d think. Both require an inner self-motivation to perform their best, to put in the time and effort, and to continue following through. Without this, the act remains undone and incomplete with no signs of progress or completion. To be self-motivated is not something that can be taught. 

Repetition. Olympics athletes practice, practice, practice. They put in the time and effort to perfect their craft by doing it over and over. Similarly, bookkeepers perform the same acts in and out to ensure their clients’ books are thorough, complete, and accurate. If they don’t enter the transactions in

What Does A Bookkeeper Do?

June 25, 2021

Bookkeeping is not something you can eliminate from the day-to-day of your business. If you do, you’re walking blindly into the unknown and likely won’t last. According to the U.S. Bureau of Labor Statistics, 20 percent of small businesses fail within the first year - and after five years, only 50 percent of small businesses survive. There are many reasons why businesses fail, but almost one-third are due to cash flow problems, which can be caught and addressed with detailed, up-to-date books. 

That leads us to the question, what exactly is bookkeeping and what does a bookkeeper actually do for you? The act of bookkeeping itself simply means the activity of keeping records of the financial affairs of a business. So, what exactly does a bookkeeper do? Let’s

What Can Your Books Tell You?

May 6, 2021

Your bookkeeping can uncover essential information about your business, but you need to know where to look and how to find it. If you choose not to utilize your books as a tool for your business, you’ll likely notice the negative effect over time. Think of your bookkeeping as the eyes for your business - without it, you’ll be moving forward blindly. 

First and foremost, your bookkeeping is a journal for your business’ transactions. All the in’s and out’s of money should be recorded on a daily basis. Being able to see exactly where your money is going and where it’s coming from are incredibly helpful when it comes to having conversations about cutting costs or investing even more into something. There are multiple reports you can run that w

Spring Clean Your Bookkeeping

March 19, 2021

Spring is in the air! The birds are chirping, the weather is getting warmer, and your books are probably lacking the attention they deserve. The week following the first day of Spring is known as National Spring Cleaning Week, and that also applies to your books. Block of some time on your calendar, grab your favorite go-to drink, and get ready to organize until your books are spotless!

Log & throw out receipts. 

First, grab that pile of receipts you’ve been collecting and start logging each transaction. Double-check for accuracy and attach as a file, if possible. QuickBooks allows this feature and we can say from our own experience that it’s incredibly convenient. Once every transaction is accounted for, get rid of that pile so you ca

How Often Should You Really Do Your Bookkeeping?

February 25, 2021

Unless you’re a qualified bookkeeper or certified accountant, you may not know all the ins and outs of bookkeeping. There’s plenty to be done, but when should you do it? We often say things like, “reconcile regularly,” but what does “regularly” actually mean? How often should you really be doing your bookkeeping? Some tasks need to be done on a daily basis, while others can be done monthly or quarterly. Let us help break it down for you…

Daily

  • Check in on your cash. Know how much you have available at all times. This is the fuel to your business. 
  • Stash away any receipts or important documents from the day in a place you will be able to reference them late

Why You Need To Reconcile Regularly

SkynarBookkeeping / October 22, 2020

Let’s talk about reconciling your account(s) on a regular basis and why it’s necessary for not only your bookkeeping but your business. First, what does it mean to reconcile your account? This means you compare your books to your bank accounts over a period of time to make sure everything aligns perfectly (example: comparing your records to your bank account from March 1 - 31, 2019). If there are any discrepancies, you can catch them and act on it. Also, note that you only need to reconcile your accounts if you use the accrual method of accounting. If you use cash basis accounting, then every transaction is recorded at the same time as the bank, so there are no discrepancies.

There are four big reasons you need to reconcile your account(s) on a regular basis.

    6 Questions to Ask Your Bookkeeper

    October 22, 2020

    Your bookkeeper/accountant should be the backbone of your business! They have all the answers on all things financial - they know where your money goes, where it comes from, which bills you pay, how much your employees make - everything. They know it all, so use them for their knowledge, experience, and expertise! Connect with your bookkeeper on a regular basis and ask questions - the answers can greatly help you make informed decisions for your business moving forward. 

    1. Where are wasting money?

    This is a question that’s in the back of every business owner’s mind. Where can your business cut back on it’s expenses? Your bookkeeper will have the answer. 

    2. Wher

    Retain Your Employees By First Knowing Why They Leave

    SkynarBookkeeping / August 26, 2020

    The unemployment rate in the United States is currently 10.2%. Of those employed, 48% are actively looking for new jobs within the next year. Although we are living through an unprecedented time, it’s still just as important to maintain quality employees and to ensure a positive work environment, if not more than ever. Nowadays, people are filled to the brim with stress, worry, and the unknown, so as a business owner, it’s your job to do your best to create a consistent and overall positive atmosphere on the regular. If not, your staff may seek employment elsewhere. 

    Get Out of Your Summertime Funk

    SkynarBookkeeping / July 30, 2020

    It’s the end of July, it’s been consistently hot, and everything just requires so much effort. It’s normal to fall into a summertime funk - nothing really seems to matter, motivation is lacking, and work is the last thing anyone wants to do. It’s hard not to bring that outlook to work, no matter where you’re working - physically in the office or on the couch at home - but it’s important to fight off the feelings when you feel them creeping in, especially if it impacts your work. Find little ways to reset your attitude, behavior, and motivation. 

    Proper QuickBooks Training is Necessary to be Effective

    SkynarBookkeeping / July 23, 2020

    It’s all about using the right tools, but if you’re not sure how to use the tools, it will be hard to be effective. Invest time for proper training with the right tools to be most effective. At Skynar Bookkeeping Services, we use, and trust, QuickBooks to Set Up, Clean Up, and Keep Up our clients’ books. Having proper QuickBooks training will not only help improve your overall experience, but help you better manage your books and your business.

    5 Financial Don’ts for Small Businesses

    SkynarBookkeeping / July 1, 2020

    Whether you’re opening a brand new business from scratch or re-opening after a temporary closure, there are some financial “don’ts” for getting your business up and running. It can be easy to become overwhelmed, get lost in poor habits, or take on too much when you’re so focused on becoming successful and profitable as soon as you can. 

    Simple Ways To Save Money

    SkynarBookkeeping / June 25, 2020

    Saving money requires discipline and repetition. Whether you’re saving for a purpose or to simply stop spending as much money, it takes dedication and consistency. There are plenty of ways to save, but it never hurts to remind yourself of the ways you can actively improve your financial situation on a daily basis. 

    Hiring and Firing During a Pandemic

    SkynarBookkeeping / June 4, 2020

    The basic acts of hiring an employee or letting them go has always been quite the process, one that requires focus, discussion, and contemplation - but it’s been made even more challenging due to the impact of COVID-19. We’re finding ourselves getting creative to find ways to adapt to continue running our business and hitting our goals. Maintaining your team is always part of running a business, so it’s time to discuss how things will be different moving forward. 

    Why You Need Keep Up With Your Bookkeeping During Hard Times

    SkynarBookkeeping / May 7, 2020

    It’s more important now than ever to maintain accurate and up-to-date books for your business, whatever it may be. With the state of the economy and everyone adjusting to WFH or not working at all, it can be easy for something like bookkeeping to slip through the cracks. However, neglecting your books during a volatile economy is a sure way to lose sight of where your business is headed and how it’s holding up. To keep it simple: a good business keeps good records. 

    Having the ability to pull a report at any time is one benefit to having updated books. You can evaluate the finances of your business at any given point to help make important company decisions. Do you need to cut your budget? Run a report to look at the exact numbers of your business in each area - where can you cut expenses? Are there any underperforming products or services? Or maybe you just want to know if you’ll be able to pay your upcoming bills with your current cash flow. You will not receive accurate numbers on these reports if you do not keep your bookkeeping updated at all times. 

    Working At Home: How To Adjust

    SkynarBookkeeping / March 25, 2020

    Due to the closing of many establishments in hopes of slowing the spread of the coronavirus, many people are trying out a lifestyle they had never taken part in before - working from home. Under different circumstances, working from home is considered lucky, but it’s hard to feel that way when there is a global pandemic underway. If you are fortunate enough to be able to continue your work from home, the following are some ways to help you adjust to the change and to maintain productivity:

    Why You Need To Keep Open Communication With Your Bookkeeper

    SkynarBookkeeping / March 19, 2020

    Your bookkeeper/accountant should be one of the people you most frequently are in contact with, whether it’s making a phone call, sending an email, or sitting one-on-one. It’s vital you communicate the ins and outs of your business on a regular basis - we’d like to say daily, but we know weekly is more realistic. Your bookkeeper can’t do their job if you aren’t constantly keeping them updated with receipts, new employee payroll information, and beyond. The question is: what information should you be relaying?

    Your Bookkeeping Upkeep Timeline

    SkynarBookkeeping / March 10, 2020

    Your bookkeeping requires regular and detailed maintenance. There’s plenty you should be doing to your bookkeeping on a regular basis, but what exactly should be doing when? Rather than overwhelm yourself by doing everything at one time, break it down into separate sittings. 

    Simple Bookkeeping Habits To Fall Into This Year

    SkynarBookkeeping / February 25, 2020

    Let’s make a choice not to give up on our bookkeeping this year. This is such an important practice that cannot be neglected. Starting a few simple habits now will keep your books strong, accurate, and constantly updated. Remember to remain consistent with all of these, and contact Skynar Bookkeeping for any questions regarding setting up, cleaning up, or keeping up with your bookkeeping. 

    When Is It Time To Outsource Your Bookkeeping?

    SkynarBookkeeping / September 19, 2019

    Have you considered outsourcing before? If not, don’t dismiss it just yet. Outsourcing is a convenient, effective way to make sure the work for your business is getting done and being done well. You can rest easy knowing you’re handing your work off to someone who is an expert in the field. When exactly is the right time to outsource your bookkeeping? You’ll find the answer in your own day-to-day work life. 

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    Skynar Bookkeeping – Corporate Office – South Lyon, Michigan
    13052 Pembrooke Circle
    South Lyon, MI 48178
    Phone 734-335-7702
    Email info@skynarbookkeeping.com
    68300 CR 388
    South Haven, MI 49090
    Phone 734-335-7702
    2534 SW 13th Ave
    Cape Coral, Florida 33914
    Phone 239-361-2100

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