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Business

Overwhelmed With Your Business Finances? Listen to This

Overwhelmed with your business finances

September 2, 2022

When I say bookkeeping, taxes, accounting, and spreadsheets, I’m pretty sure many of you have the same reaction as me. As much as I love a good system, there are some things that no matter how systemized I make it, I still can’t fall in love with it. But when you add some fun and good solid education it makes it so much better. I have Madison, my dear friend, and bookkeeper, with me today who will give you some resources and help you gain some major confidence with finances in your business.

Listen below for the entire episode on The Systemize Your Life Podcast

Why You Need A Bookkeeper

We are going to jam on some really fun conversations about business finances with Madsion, a wife, mom, and owner of Madison-Dearly Bookkeeping. 

I want you guys to understand the value of having a bookkeeper in your business. Bookkeeping is a vital system for any business. In the beginning of my business, I was doing my own bookkeeping. This looked like a spreadsheet but it certainly wasn’t helping me understand the health and well-being of my business or helping me grow financially. I wasn’t in a position to show anything about what happened in the last year. I didn’t understand what it looked like to work with a bookkeeper or how good it could be until I met Madison. 

Madison was a breath of fresh air and I finally understood what I felt like to be on top of this system for my business finances. I had worked with several other accountants before and they were just not good experiences. They didn’t return my emails and gave a lot of sass to my questions. Madison was a completely different experience.

How Madison is Different

Madison: So many accountants out there don’t understand the online business space or know about the systems or software that we use in doing business nowadays. What makes me feel like I’m completing my purpose and serving online business owners is that I get it. I understand Dubsado, ThriveCart, and Stripe, and I nerd out and geek over it.

What my clients see is that it is not just reports being handed to them but they are truly understanding their numbers. They know what these reports mean to them and how they make decisions in their business. Every quarter we are sitting down and talking about where we can cut back spending in your business and what your revenue trends were over the past three months. Was there something you really hit the head on with your marketing that you can replicate again?

I will help you find out if you can afford to hire another employee or join a mastermind. I can be a sounding board for those big questions to help you move to the next season or level in your business. 

“There is something magical about handing over your books and having legitimate financial solidity in your business. “

Confidence in My Business Finances

Chelsi: The education and awareness on a real quality-based level has been everything to me. I’m able to understand the health and well-being of my business. When we first started I didn’t know anything. Being with someone who is kind and gives me the opportunity to learn has given me the confidence to say “I know where the finances are in my business.”

I’m taking 20-25 hours a week away from my kids, my husband, and my home to run this business, and I want to be real serious about it. I didn’t want to take two hours a week to get into the nitty-gritty of understanding my books when I feel called to serve in these other areas. It has been the best thing I have put money into. There is something magical about handing over your books and having legitimate financial solidity in your business. 

Madison has a new exciting thing she is offering to new moms and moms who are still having kids.

Madison’s New Planning Tool

Madison: I just launched my Maternity Leave Financial Plan Spreadsheet Template. Over the past year, I have coached three clients in preparing for maternity leave. Through this, I have found a simple and beautiful process on how to save for your maternity or any type of leave. 

Some questions we ask are to help you prepare are:

  • How much time do you want to take off? 
  • How many months until the baby is here? 
  • What kind of expenses do you have in your business that you will still have to pay while you’re away?

It is a very simple spreadsheet to help you plan for time off in your business. It is even beautiful to look at and can be found on my website.

Where to Start

Chelsi: So where does someone get started if they are just beginning or dreaming of this thing and don’t have any money coming in yet?

Madison: It’s a beautiful place to be when you are just dreaming and crafting how you want your life to look. The first thing is just to open a separate business account. It doesn’t have to be a business account but something separate from your personal account.

You need a place to see what people have paid you and where you have spent money in your business. That makes running a business easier and bookkeeping easier. I have a lot of information on what kind of software to use on my website that you can check out. I like to use Xero, it’s pretty, simple, and low cost.

Connect With Madison

Chelsi: Madison has helped me so much. I want to get your brain turning if you are a work from home mom or thinking of becoming a work from home mom. Getting a bookkeeper and having a solid foundation for your business finances is the next important thing for you to do. When you are working with someone like Madison bookkeeping can be extremely uplifting and a breath of fresh air. Madison is currently accepting new clients and you can have the amazing opportunity to work with her.

You can find Madison as Madison Dearly online, on Instagram, Facebook, and Tik Tok.

You can connect with us more over inside the Facebook group. Share your questions and dive deeper into this with us. Thanks for joining us and I look forward to connecting again real soon! 

Overwhelmed with your business finances

Frequently Asked Questions

How do I make time for my finances if I'm just getting started and overwhelmed!?

You need systems in your business! You might not love doing your bookkeeping but you might not have a choice for a little while. Setting up time blocking and systems in your workflow will give you the foundation you need. I go over this with you in detail inside the Systemize Your Life Academy. Also check out all of Madison’s resources on her website!

how to gain confidence in your business finances
overwhelmed with your business finances - advice for business finances - chelsi jo

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