Math has never been one of my strong suits. In fact, if you start talking numbers to me, my eyes will most likely glaze over and I’ll go into a zombie-like state. My husband finds this infuriating when we go over our monthly household budget. But even with that being said, I know that not liking math isn’t an excuse for not knowing the financial health of my business. How do you feel about bookkeeping? Are you a wedding planner who is looking for a guide to bookkeeping? If so, you have come to the right place. Clarissa Wilson is here to give us the 411.
Wedding Planner Bookkeeping
Today, we’re discussing the basics of bookkeeping and offering a few key tips on how to keep your books in order. We will also provide an overview of the most common bookkeeping software programs. So whether you are just getting started in wedding planning or you are looking for ways to improve your wedding planner bookkeeping, read on for helpful advice from Clarissa Wilson!
A Little About Clarissa Wilson
Clarissa is an accountant and financial strategist who helps small business owners make sure they are doing everything correctly with their business finances, both to help grow their business and to prevent the government from knocking on their door and saying they owe more money in taxes. She left a position as a government tax auditor because she didn’t like the way that government treats small business owners. She decided she’d much rather help them learn how to do things correctly without the government breathing down their neck and assessing them more fees and fines.
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CONCEPTS TO ENGAGE ON
Sometimes after the show has ended, the guest and I will have an expanded conversation about some of the nuggets they shared. Or sometimes we only touch on a subject I wish we would have discussed just a little bit more. Or the topics we talked about inspired other thoughts I want you to know more about. Either way, below you’ll find some gems I would like you to chew on.
Hiring an accountant for your event planning business?
If you can afford a bookkeeper, hiring an accountant for your event planning business can be a great way to ensure that your finances are in order. An accountant can help you keep track of your income and expenses, and can also provide advice on how to save money and reduce your taxes. They can also assist you in setting up a budget for your event planning business. When hiring an accountant, it is important to choose someone who is experienced and who you feel comfortable working with. You should also make sure that they are familiar with the event planning industry. Hiring an accountant can be a great way to ensure that your finances are in order and that you are able to save money on your taxes.
Any must-have bookkeeping technology?
Maintaining a full-time bookkeeper can be expensive if you’re just starting out. Luckily, there are a number of must-have bookkeeping technologies that can help streamline the process and save you money. One of my favorite bookkeeping technologies is an accounting software called Wave. This software is totally free. It can automate many of the tasks associated with bookkeeping, including invoicing, tracking expenses, and preparing financial statements. There are a number of different accounting software programs available, so it’s important to choose one that will fit the needs of your business.
How do wedding planners keep their finances organized?
Wedding planners have a lot of responsibility when it comes to finances. They need to keep track of their own finances on a weekly basis. This can be a lot to keep track of, but there are some ways that wedding planners can stay organized. First, wedding planners should create a budget for their business. This budget should include all of the expected expenses for their business, as well as a contingency fund for unexpected expenses. Once the budget is created, the wedding planner should track all of the actual expenses to ensure that they stay within budget. This is how Wave can help! Additionally, wedding planners should keep detailed records of all payments made and received (like Clarissa mentioned in the above video). This will help to ensure that all payments are accounted for and that there are no discrepancies. You should get in the habit of looking at your books biweekly, if not weekly. By following these tips, wedding planners can keep their finances organized.
Wedding Planner Bookkeeping Last Words
So there you have it, the best guide to wedding planner bookkeeping with Clarissa Wilson. We hope you found this information helpful and that it will help make your business run more smoothly. If you would like to learn more about how to keep your finances in order as a wedding planner, be sure to check out our online course, 10-Day Wedding Business Builder. In this course, we cover everything from pricing your packages to how much money you need to start your business. And, of course, we also talk about bookkeeping and financial organization for your event planning business. Sign up today and get started on building the business of your dreams!