The Profit Priority® Podcast
Being a creative entrepreneur is one of the most beautiful and amazing things someone can experience, but it doesn’t come without its challenges. Join LoriAnn Kuntz, bookkeeper and CFO, on the Profit Priority podcast each Thursday morning as you learn all from all things running a business to the financial side of it. LoriAnn and her guests strive to empower creatives, expand their profits and maximize your personal time. So pop in your head phones, head out for a run, grab some coffee and a notebook and get ready to be inspired. Chat with you soon! Links: https://www.loriannkuntz.com/https://www.instagram.com/loriannkuntz.co/https://www.tiktok.com/@loriannkuntz.co
The Profit Priority® Podcast
041. DIY vs. DFY Bookkeeping: When to Make the Switch
Whether you're just starting your business or you've been an entrepreneur for a while, it's absolutely crucial to know your numbers. Doing your bookkeeping and understanding your finances is a must, but should you do it yourself or have it done for you? And at what point do you need more than "just" monthly bookkeeping and should consider having a CFO? In today's episode I'm breaking down the difference between DIY and DFY bookkeeping, when I've commonly seen people make the switch, and actual examples of the impact having your books done for you can have on your business.
What's in the episode:
- "Do I really need to do my bookkeeping?" Yes. Here's why [01:34]
- The threshold I've found when people need to hire a bookkeeper [04:07]
- The power of investing in your bookkeeping [06:48]
- Things to consider when deciding to DIY or outsource your books [09:33]
Check out the Marketplace for our DIY Bookkeeping Template or learn more about our CFO services.
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Grab our FREE Business Expenses and Deductions guide!
Do you wonder why your bank account balance doesn't match your Profit & Loss? Maybe you had a great month and you're wondering where all your money is going. This is due to cash flow. Your cash flow is the heart beat of your business and for a business to be healthy, you need to have a healthy cash flow.
I have created a FREE Cash Flow Projection Template so you can maximize your cash!