Understanding Financial Statements: A Beginner’s Guide
As a small business owner, you’re no stranger to the importance of maintaining a solid grasp of your company’s financial health. Often, the world of finances can be overwhelming, filled with complex jargon and seemingly insurmountable numbers. But, fret not! In this beginner’s guide, Truly Bookkeeping will walk you through the fundamental components of financial…
Read MoreMastering your Finances: Managing Operational Expenses
Mastering your Finances: Managing Operational Expenses Managing operational expenses is a critical aspect of running a successful business. Here are some best practices for managing operational expenses: Create a budget The first step in managing operational expenses is to create a budget. This involves identifying all of your expenses, including fixed costs (such as rent…
Read MoreMastering your Finances: Practical Strategies to Decrease Business Expenses
Mastering your Finances: Practical Strategies to Decrease Business Expenses Running a successful business entails more than just generating revenue. It also requires effectively managing expenses to maximize profitability and ensure long-term sustainability. While it may seem daunting, reducing business expenses is achievable with a strategic approach. In this blog post, we will explore practical strategies…
Read MoreMaster your Finances: 5 Strategies for Managing Cash Flow
Master your Cash Flow with 5 Powerful Strategies Cash flow is the lifeblood of any business, and managing it effectively is essential for the success and sustainability of a small business. Without proper cash flow management, a business can run into serious financial trouble, even if it is profitable. In this blog, we will discuss…
Read More10 Common Bookkeeping Mistakes and Tips on How to Avoid Them
Failing to reconcile accounts Reconciling bank and credit card accounts is essential to ensure that all transactions are recorded accurately. Failing to reconcile can result in errors and missing transactions. To avoid this mistake, reconcile accounts regularly, we recommend on a monthly basis. Not categorizing expenses properly Properly categorizing expenses is crucial for accurate financial…
Read MoreCreating Company Culture where Character Matters
I recently listened to a podcast whose featured guest engaged in some disrespectful behavior to their team during prep for the podcast. Instead of letting the poor behavior slide, the podcast hosts said, Nope! We don’t work like that, and canceled the podcast interview. I was inspired that these women who are semi-famous had the…
Read MoreTRULY PROFIT PLAN COURSE LAUNCH!!
You know the old adage, the shoe makers’ shoes always have holes, or the contractor’s house is always half done. The same is true for business owners. Just because your entrepreneurial spirit and skills led you to open your own business doesn’t mean you know how to run a profitable business. The same was true…
Read MoreHow to Create a Work-Life Balance
Owning a business can be a lonely road at times. As an entrepreneur, we are the ones with the dream and the vision. We are the ones that can’t sleep at night as we think through all the details of our business. We are the ones who must intentionally focus on our family and friends…
Read MoreTo help communities thrive through flourishing businesses.
I, Kelli Bagby, have been interested in small business ownership since high school. I have long admired entrepreneurs and business owners for their hard work, determination, and vision to create something for others that hasn’t existed. I have seen the power of working for oneself- yes, it’s tiring, all-consuming, and scary! But the rewards, the…
Read MoreA New Way of Employment
Truly Bookkeeping’s goal as an employer is to create meaningful part-time employment opportunities that pay well and provide retirement benefits. We believe this is the way that a lot of people, specifically parents, would prefer to work. Historically, part-time employment + good pay, and retirement benefits didn’t go together. Part-time employment has often been low…
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