Financial Fundamentals for Solopreneurs – Part 1:
QuickBooks Online Made Easy
My friend, Agatha, (not her real name) told me a horror story recently. Seems that every year she stresses about getting her business numbers to her tax accountant so that she and her husband can file their returns. They filed for an extension this past April 15 (again!) She still wasn’t ready the week before the next deadline of October 15th. But you don’t get a second extension from the IRS. It’s in by 10/15 or it’s late. There is a work-around to that and she took that as well: her CPA is planning to file a revised return. Argh!
All this to say, lots of stress and shame and family fights. To top it off, her husband has a high-flying job with the military and they look at things like filing your taxes on time when it comes around to promotions and security clearances. It’s a big deal.
So, lots of procrastination penalties, to say the least.
This doesn’t have to happen to you. Learning how to organize your workflow and stay on top of your business finances are skills and I can teach you those skills.
Here are the details…
Duration: 9 weeks
What You Get With the QBO+ Mastery program:
- Immediate access to over 20 videos that detail each thing you need to do in a clear, easy-to-follow format. These trainings take you by the hand and walk you through each and every step you need to take to set up and maintain your books using QuickBooks Online Plus. These videos are yours to download and keep.
- mp4 video recordings of each group and private coaching session. This way you can relax during the call knowing that if you miss something you can always watch the replay and get the full picture.
- You’ll be on top of everything you need to do with the Productivity Toolkit. These tracking tools are your guide to making sure that your books are complete, accurate and up-to-date. The toolkit includes templates for:
- Expense Reports — to get all your business expenses even if you pay with personal funds
- Mileage Log – so you can take this valuable deduction
- Chart of Accounts — so you get the categories that are most meaningful to your busienss
- Closing Schedules — so that you have a checklist and cheat sheet that tells you what and when you have to do things
- Cash Flow Projections – so you don’t run out of cash to run your business.
- 24/7 Access to the private FaceBook group with additional coaching and training access. I’ll be on the forum, answering your questions on the spot as you work through the trainings. And the group energy will fire up your energy and keep you motivated to take action.
Private Coaching & Training:
2 private, 1-on-1, 30-minute strategy calls with me during the program to give you focused, personal attention and to further support your progress. This also provides a space for you to ask any intimate questions you may not feel comfortable bringing up in a group setting. Such personal stuff as
- “I haven’t filed my taxes in 4 years. Am I going to go to jail?”
- “I’ve got a lot of credit card debt that I haven’t even told my husband about.”
- “Every time I think about looking at my numbers, I want to cry. What can I do about that?”
Group Coaching & Training:
7 -1 ½ hour group calls with me as follows (calls start at 9am PT/noon ET):
- call #1: Wed June 22, 2106
- call #2: Wed June 29, 2016
- no class July 6: integration week and time for catchup…and it’s a holiday week to boot!
- call #3: Wed July 13, 2016
- call #4 Wed July 20, 2016
- no class July 27: integration week and time for catchup
- call #5: Wed August 3, 2016
- call #6: Wed August 10, 2016
- call #7 Tues August 16, 2016 (pls note change in day of the week!)
What you’ll have in your hands at the end of the program: a complete, accurate and up-to-date set of books on the QuickBooks Online Plus cloud platform and a foundational knowledge to maintain your books.
Who this program is for:
- Solopreneurs who want to understand the fundamentals of maintaining their bookkeeping on QuickBooks Online Plus
- business owners who aren’t ready to hire a bookkeeper just yet
- service-based business, no payroll, no inventory
- those willing to do the work necessary to implement the information in the trainings
This program is NOT for you if:
- have employees
- have equipment, like 70 looms for your weaving school
- make a product, like jewelry
- have product that you buy then resell, like an aesthetician
- have a retail, wholesale or manufacturing business
- want to use a system other than QuickBooks Online Plus
- you just want to come to the calls and not do any outside work on your own.
What you get out of this program:
- You’ll know what information you need to have in place —and why–to be ready for filing your income taxes in 2017 and for making your estimated tax payments in 2016.
- QuickBooks Online Plus setup
- how to do your own monthly bookkeeping
- workflow schedule and habits including: data entry and reconcilations, reviewing reports, paying estimated taxes, business taxes and licenses.
- You’ll know how to understand the story your key financial reports are telling you using key performance indicators (KPIs)
- Profit & Loss Statement
- gross profit
- net profit
- % of sales
- comparison with previous periods
- Profitability by Revenue Stream
- Profitability by Customer
How the program will be structured:
We will have both our group Q&A sessions as well as the private strategy sessions on GoToMeeting as that allows us to screen share.
Before each call, including our first call, you will have some prep work to do. Namely watch instructional, step-by-step videos that I have prepared especially for this program. Then, and this is the important bit, you need to implement those steps in your own QuickBooks company file. If you don’t do this work, then you won’t get much out of the program. It would be like taking a class on learning how to play the guitar but without having a guitar to play. Entertaining, but fleeting.
On each Q&A call I will answer your specific questions related to how to apply the training videos to your business…and show you on the screen using QuickBooks Online how to implement them. And, of course, each Q&A call will be recorded in it’s entirety and available for you in case you should miss a class or want to refer back to something.
My biggest gripe about tutorials and written instructions is that they usually don’t tell me what to do when something doesn’t go like the instructions say they should. What I do is give you a heads-up when something might be a bit tricky. Kind of like a tour guide letting you know where the washed-out road is up ahead. I simplify the steps, make it very clear how to get from point A to point B, then point C. No jumping around or giving you three options to choose from. Just simple, step-by-step instructions on how to set up your company file right the first time.
To get the results I’m promising, you have to do work on your own outside of our classes. You need time to play around with the software and learn at your own pace.
1 ½ hour video on how to stay “out of Dutch” with the IRS and your state and local tax authorities. Christi Bender, CPA, lays it out for you and lets you know:
- what deductions to take and not take
- what “red flags” to avoid
- estimated income taxes
- how you might save money on self-employment taxes
- 1099s and independent contractors
- other questions tailored to your interest and circumstances
- Early Bird Pricing: $797, ends June 12th
- pay in full from June 13th: $997 due on sign-up
- payment plan: $399 on sign-up, $399 on 7.15.16, $399 on 8.15.16 ($1,197 total)
- ACH bank transfer
- all major credit cards
100% Money Back Guarantee:
Come join the program and if you don’t like it after 21 days, I’ll refund your money…no questions asked. And QuickBooks also has a 30-day risk free option. So what do you have to lose?