International Business Growth Radio Network
  • HOME
    • YOU >
      • Grow with Us
      • Themes
      • FAQ
    • US >
      • North American Partners >
        • North American Hosts
        • North American Directory
      • Australasia Partners >
        • Australasia Hosts
        • Australasia Directory
      • South Asia Partners >
        • South Asia Hosts
        • South Asia Directory
      • Prime Meridian Partners >
        • Prime Hosts
        • Prime Directory
      • Exec Team
    • LISTEN NOW >
      • OnAir TODAY
      • Show Notes
      • Podcasts
  • News
  • Blog
  • NETWORK
    • Sponsor Network
    • Special Preferences
    • Privacy
  • NOTES
  • Community
  • APP
  • SHOP

show notes

Stages of Development

(Money Matters) Ask the bookkeeper-Overview

3/1/2021

0 Comments

 
Picture
Kasfia Rashid - "Money Matters with Kash the Bookkeeper"

Introduction

Hello and congratulations on taking the first step in the journey of business ownership. If you're thinking of starting your own business you're in the right place. IBGR radio network is a central place for tools, resources and training that you are going to need to have a successful life long journey. Think of me as one of your many tour guides here. 
My name is Kasfia Rashid but you can call me Kash. It is my job to  prepare you to understand the language of business. Warren Buffett, said that accounting is the language of business! So, who better to learn from than an accountant with over 16 years worth of experience! Last season we took a journey through the five principal categories of Accounting: Assets, Liabilities, Owner’s Equity, Revenue and Expenses! 
“Money matters-Ask the Bookkeeper” is all about answering burning accounting questions! You know, the ones you would only ask your best bookkeeping buddy. Each show will have one main question from the audience with supporting questions from my various travels. Have a question to ask? Don’t be shy, step right on up.  We will follow the same path as last season with two shows on each of the main concepts of accounting and one show for each financial statement! 
Listen>Apply>Engage
​
Show Objectives - The Why

More than 50% of small businesses fail in their first year and more than 95% of startups fail within their first five years ( Convergehub, 2019) 
Why? Several reasons! 
According to Smallbizgenius.net 82% of the businesses failed because of cash flow problems, that means they spend more money than they make. 
 In my experience the deeper reason is because they do not have anyone to steer them in the right direction. Most small business owners don’t have trusted professionals around them to ask those all important taboo business questions to. Which is why this season we are all about them Q&A’s! 
Each show will consist of one main question with a few surrounding, supporting questions all surrounding the main accounting concept. To give you a sneak peek here is the lineup for seasons four.

Season 3 calendar, notes and show topics:

F1.001-1/4/21-Summary of new season: Ask the bookkeeper: Top 5!
F1.002- 1/12/21- What is a cash reconciliation and why is it needed?
F1.003-10/19/21- What is depreciation? 
F1.004-10/26-21- How do I build business credit?
F1.005-11/2/21-How do I put a debt schedule together?
F1.006- 11/9/21-How do I pay myself?
F1.007-11/16/21-How do I track my personal expenses along with my business?
F1.008 -11/23/21-How do I turn my service based company into a product?
F1.009-11/30/21-How do I price my product/service?
F1.010-12/07/21-How do I account for start up costs?
F1.011 12/14/21-When should I start hiring employees? 
F1.012 12/21/21-What are some ways to save on taxes?
F1.013 12/28/21- Summary of What We Achieved

Instead of spoiling the fun,  in today’s summary show we are going to go over the top 5 questions I get asked as a bookkeeper – spoiler alert - none of them have anything to do with bookkeeping.

Being an accountant is like having a doctor in the family. Minor aches and pains, ailments, and random questions often get filtered to me by clients, family members, networking associates and of course friends. Scarcely a week goes by without either an email or a random text starting with “hey quick question…”

One of the reasons so many people ask me questions is because I like answering them. But just like being a specialist there are tons of general questions that come up in the operation of my business. My clients range from pre-start up to growth and the questions are often varied. Ever wanted to sit a bookkeeper down and ask them anything you wanted? Well, This show is all about the top questions I answer when I sit down with my clients. 

  1. What is an "LLC", and why is it important? - "LLC" stands for Limited Liability Company and helps to protect your personal assets by creating a separate legal entity. Allows you to "pass-through" income
  2. What is an S-Corp? - It's a tax designation that helps save on Social Security and Medicare Tax! S Corp owners can be considered employees and paid “a reasonable salary". FICA taxes are taken out and paid on the amount of the salary.
  3. Why do I need a separate bank account? - A separate bank account maintains the Limited Liability of the LLC. It also helps save time and cost during tax time. 
  4. How much do I save for retirement? - It depends on your long term goals. Establish a financial plan customized to you.
  5. What do I do with all these receipts? - Take a picture of them and save them on the cloud or email them directly to QuickBooks Online! 

Additional Resources 
  1. Check out Kash’s Youtube Playlist: Bookkeeping basics for small business owners 

Written by Kash the bookkeeper  
Grab your free Bookkeeping Checklist here!
You can connect with Kash on any of her seriously social platforms under the handle @Kashthebookkeeper
Connect on LinkedIn
Follow on Instagram
Like on Facebook

​

F1.01.4NA

0 Comments



Leave a Reply.

    new choice for BUSINESS SEARCH

    ​All IBGR Shows Notes are available for download

    Authors

    - (NA) North American Radio Hosts
    ​- (AA) Australasian Radio Hosts
    - (SA) South Asian Radio Hosts
    - (PM) Prime Meridian Radio Hosts

    Archives

    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020

    Categories

    All
    Season 1 - A. Strategy
    Season 1 - B. Operations
    Season 1 - C. Sales
    Season 1 - D. People
    Season 1 - E. Ownership
    Season 1 - F. Coaching & Consulting
    Season 2 - A. Financial Results
    Season 2 - B. Operational Productivity
    Season 2 - C. Sales Effectiveness
    Season 2 - D. People Performance
    Season 2 - E. Owner As Executive
    Season 3 - C. Customers
    Season 3 - E. Executive
    Season 3 - F. Finances
    Season 3 - IBGR Specials
    Season 3 - O. Operations
    Season 3 - P. People
    Season 3 - Special Series
    Season 4 - Customers
    Season 4 - Executive
    Season 4 - Finance
    Season 4 IBGR Specials
    Season 4 - Market Domination
    Season 4 - Operations
    Season 4 - People
    Season 4 - SPECIAL SHOW
    SPECIAL EPISODE

    RSS Feed

Site powered by Weebly. Managed by Radio.co, Designed by gWORX Media
Photo used under Creative Commons from magerleagues
  • HOME
    • YOU >
      • Grow with Us
      • Themes
      • FAQ
    • US >
      • North American Partners >
        • North American Hosts
        • North American Directory
      • Australasia Partners >
        • Australasia Hosts
        • Australasia Directory
      • South Asia Partners >
        • South Asia Hosts
        • South Asia Directory
      • Prime Meridian Partners >
        • Prime Hosts
        • Prime Directory
      • Exec Team
    • LISTEN NOW >
      • OnAir TODAY
      • Show Notes
      • Podcasts
  • News
  • Blog
  • NETWORK
    • Sponsor Network
    • Special Preferences
    • Privacy
  • NOTES
  • Community
  • APP
  • SHOP