Q: Hi Lozelle, my financial records for my business were a [...]

Working for yourself is a dream for many, but it comes with signnficant challenges. One of the most difficult to manage is how to effectively juggle multiple tasks, all of which must be done now. You have your work to attend to. Then you have to stay on top of your accounting and finances. Don’t forget your marketing and social media. It’s enough to make your head spin! I’m a big fan of using technology as an aid to help entrepreneurs maximize their limited time.

In life, but particularly in your business, we’re constantly aware of the lack of time and need for money. We always have to play a balancing act to determine how to best manage this reality and pursue actions that help us maximize both. Once we realize that we can’t do it all, we have some choices to make. We can continue to try to do everything ourselves, knowing that it will cost us in terms of overall time, quality, productivity, or all of the above. We can ignore some of the tasks and deal with the ramifications of not attending to one or more areas of our business. Or, we can embrace the fact that it’s time to find solutions to the areas where we struggle most.

Small business owners are overwhelmed. They have the responsibility for every aspect of their companies and very often, they bear that burden alone. Some of my clients want to pay attention to their books, but they are too stressed out to focus on their accounting. When everything is important and has to be done now, it’s hard to know what to prioritize. Sound familiar? There is no replacement for expert advice and experience when it comes to managing your business’ finances. But in this technological age, I firmly believe in utilizing tools at our fingertips to help us maximize our time. Here are a few of favorites that I recommend to clients to help them manage their money.

Question: I am self-employed and looking for some relief with [...]

Having access to affordable benefits is one of the most significant challenges to entrepreneurs in America. Health care in particular presents challenges due to expense and importance of your health history. I want business owners to enjoy financial wellness, but that means their overall health needs to be taken care of as well.

Whether it’s the right time for you depends on many factors. How many transactions do you make in a typical month? How much time are you currently spending each week and month on bookkeeping? There a number of free tools that small business owners can use to assist them maintain their financial records.

At Body of Accounting, our work focuses on the health [...]

March is here, and soon will come the blossoms of spring. So lovely! Unfortunately, there are a few less savory arrivals also marked by spring, like tax day. Are you prepared? As a small business owner, part of your responsibility as CEO and CFO is to ensure that you have accounted for and reported your organization’s income and tax liability accurately. Ideally, you have systems in place throughout the year to track your revenue and expenses. If that is not the case, no need to panic. With proper preparation, you’ll be ready for April 15. But the time to start is now. Here are three tips to help you get there.