Simple Ways to Track Your Books with Misa Bacon

In the latest episode of "Keep What You Earn," Shannon sat down with Misa Bacon, the founder and CEO of Perfectly Kept Books, to discuss the importance of bookkeeping and how it can be simplified and made approachable for entrepreneurs. The conversation delved into the various dimensions of bookkeeping, its value in running a business, and the significance of customizing bookkeeping processes to derive insightful data.

The discussion emphasized that while the financial side of business operations is often perceived as daunting and complex, particularly for entrepreneurs with varied money stories and experiences, bookkeeping can actually be a powerful tool for making informed decisions and driving business growth. Misa's approach to bookkeeping is centered around creating a calming and accessible experience for her clients, allowing them to engage with their financial data in a way that instills confidence rather than fear.

One key takeaway from the conversation was the idea that bookkeeping is not merely about meeting tax reporting requirements, but it is fundamentally about using financial data to steer the direction of a business. Misa emphasized that bookkeeping serves as a critical source of information for entrepreneurs to understand their income streams, track expenses, and gain insights into the profitability of various business offers or services. By customizing the bookkeeping process to suit the specific needs of different businesses, entrepreneurs can unlock the ability to derive actionable insights from their financial data and make informed business decisions.

The importance of customization in bookkeeping was underscored during the conversation. Misa highlighted the significance of tailoring bookkeeping categories and reports to align with the unique aspects of each business. By understanding what data is most relevant for individual businesses, entrepreneurs can ensure that their bookkeeping systems provide tangible and actionable information. This approach enables entrepreneurs to track performance metrics such as income streams, expenses, and profitability in a way that resonates with their specific business operations.

Moreover, the conversation touched on the role of bookkeeping software and technology in streamlining the process and obtaining valuable insights. Misa showcased the power of technology in enabling entrepreneurs to access historical data, run customized reports, and visualize their business performance over time. Leveraging these capabilities not only provides entrepreneurs with a comprehensive view of their financial health, but also serves as a means of empowerment by affirming their progress and growth.

A significant aspect of Misa's approach to bookkeeping is the recognition of individual money stories and the impact they can have on an entrepreneur's relationship with finances. She acknowledges that many entrepreneurs harbor fears and uncertainties related to money, often rooted in childhood experiences and societal perceptions. By making bookkeeping approachable and less intimidating, Misa aims to alleviate those anxieties and foster a sense of comfort and confidence when engaging with financial data.

The conversation concluded with the idea that embracing bookkeeping as a tool for empowerment, growth, and healing can transform an entrepreneur's relationship with money. By making the bookkeeping process more enjoyable and exciting, entrepreneurs can navigate their financial journey with a renewed sense of purpose and understanding. The insights shared by Misa shed light on the transformative potential of bookkeeping as a means of overcoming financial challenges and charting a path toward business success.

As entrepreneurs, understanding the transformative potential of bookkeeping is paramount. By embracing a personalized approach to bookkeeping, leveraging technology for deeper insights, and acknowledging the impact of individual money stories, entrepreneurs can harness the power of financial data to drive their businesses forward. Misa's mission to empower entrepreneurs through bookkeeping serves as a reminder that the realm of finance can indeed be demystified, making it an integral part of an entrepreneur's journey towards sustainable growth and prosperity.

In conclusion, the episode provided valuable insights into the untapped power of bookkeeping and how entrepreneurs can harness it to propel their businesses forward. By considering bookkeeping as a tool for empowerment, healing, and informed decision-making, entrepreneurs can embrace a new perspective on their financial journey, one that leads to stability, growth, and success.

Misa Bacon is the Founder and CEO of Perfectly Kept Books and your go-to bookkeeping and QuickBooks Pro. She empowers women entrepreneurs to conquer their financial anxieties. Recognizing that bookkeeping can be daunting, she creates a calming, fun experience that feels like chatting with a supportive friend. Her Texas warmth shines through, making complex financial discussions approachable and stress-free. Driven by a desire to raise her creative daughter in a world of empowered women, Misa champions women-owned businesses, providing empowering bookkeeping services and building strong financial foundations for their success.

Bookkeeping checklist download: https://perfectlykeptbooks.com/resources

Website: https://perfectlykeptbooks.com/

Socials: @perfectlykeptbooks

What you'll hear in this episode:

03:45 Misa supports women in bookkeeping and business.
09:12 Customizing book categories to fit specific businesses.
12:57 Overview: Report insights simplify financial data analysis.
15:29 Software provides historical data for empowering insights.
19:07 Stage intervention, LLC may miss tax savings.

If you like this episode, check out:

How to Break Free from the Corporate 9 to 5

3 Reasons to Separate Your Business Money from Personal

Do You Really Need a Business Plan?

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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.