Episode 68: Kasi Taylor Helps Business Owners Get Mortgage-Ready With Clean Books

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Interested in making
business less stressful for yourself.

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If you are a business owner
and you're wondering

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about profit and loss statements
and what it might take to get mortgage

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ready,
I've got a podcast tailored just for you.

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Today we're talking to Kasi, the Boring
Bookkeeper.

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Hey, I'm Nate Carver and welcome

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to Between Two Doors.

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Hi, Kasi.

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How are you?

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I'm good. How are you?

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I'm doing great. This is timely.

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I, as a mortgage lender,

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I, you know,
I do get self-employed borrowers, and,

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you know, they've grown in their business
and they're tired of renting, and,

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they come to me and they, you know, they
say, hey, we want to own our own home.

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And I'm like, great, let's do it.

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And then and then
and then we uncover things and, you know,

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I don't expect them to know
they've got families

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and they have a business to build.

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And so,
I think this will be a neat opportunity

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for us to uncover, unpack all of that
and see what we can do to set

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up, business owners for success
when it comes to,

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for them to pursue their first
home or their next home.

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So I'm excited.

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Nice.

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Okay, so

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let's, let's say a little bit about you,
just kind of establish

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a baseline here,
and then we'll we'll dive into it.

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Tell me about your past.

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How did you get into bookkeeping?

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Yeah.

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So I was a teacher for eight years.

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Originally, I taught fourth grade,
and at the time had just a daughter.

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Towards the end of my eighth year,

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I had my son, my second child,
and I knew that I needed some change.

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Something to, have a little less stress
in the evenings

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and be able to spend that quality
time with my family.

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So I resigned and I started a home
daycare to be surrounded

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with my kids,
my nephew, and get to be with them more.

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But as I was running that business,
you quickly learn,

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all of the,
the needs and the necessities in there.

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It's not just about getting the payments.

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It's about what you are doing to set
yourself up in the future for success.

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And then, you know,

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every year, tax season comes back around
and you have to be ready for it.

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So throughout the process, teacher to,

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business owner taught me that,
I really love

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the organization, the problem
solving, helping people succeed.

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There's still teaching in there, but,

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just doing it in a different way
and setting up the numbers for success.

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What's something,
when you transition from teacher

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to, to owning your own daycare,
is there, like,

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one thing that stands out that you wish
you knew right off?

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Definitely.

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To separate your expenses
right at the beginning.

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You have your personal expenses,
having a separate bank account

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for everything business related from day
one makes it way easier.

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There's less that you have to scour
all of your personal bank accounts for.

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And then just,
you know, starting little by little.

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It doesn't have to be.

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Everything has to be perfect
right off the bat.

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But tracking and keeping those receipts,
knowing what you've spent on the business

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as it's grown and got started

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saves you headache later on from digging
and trying to remember everything.

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When you're going through the struggle
of getting it all set up.

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So is that what

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did that lead you into bookkeeping?

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It did, in a sense,

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of getting it set up, seeing
seeing that process, but then also knowing

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when it came
time to do my taxes and looking at it

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and saying,
okay, now I have to go find everything.

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I have to get myself organized on this.

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Since kind of learning through the process
of it's so much easier to do it

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as you go instead of one big lump
sum at the end.

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And then as I started talking to people,
you know, it is a puzzle.

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It's a problem solving, organizing it,
setting it up for success,

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and looking at it each month.

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So, I kind of had to do a little cleanup
on my own business

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at the beginning
and realize this is enjoyable.

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I like looking at this piece of it
and organizing it and seeing how

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it fits and where it goes.

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So from there

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was when
I started the bookkeeping business,

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I had both of them
running at the same time.

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For about a year while I was growing
the bookkeeping side and really,

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truly enjoyed that problem solving

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piece of it.

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Well.

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All right.

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Tell me the name Boring Bookkeeper. Yes.

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Boring Bookkeeping?

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Yeah.

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When you talk to people, and ask them

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if they've done their books,
usually the response is, nope.

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It's at the bottom of my list.
I'll get to it eventually.

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And that response is usually
because they hate doing it.

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It is boring.

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It's not entertaining to them.

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And hopefully your
your bookkeeping is boring.

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It should be boring
if it's, fills you with anxiety

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or there's something exciting
happening in your books,

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it means something's not aligning, and
you got to dig deeper to figure it out.

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Yeah, but once it's solved and consistent,

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the books are kind of boring to look at,
unless you really like numbers

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in the organization of it.

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So for most business owners, the response
was, I can't look at my numbers.

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I fall asleep doing.

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You know, when I,
when I write checks or whatever, I'm

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in, I get the receipts, I,
I remember that.

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I never know.

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I probably know, I don't know,
I tell myself that, you know,

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and I just move on, and next thing I know,
I've lost that receipt.

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Yeah,

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I can relate.

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My mind tends to glaze over
whenever it comes to this stuff, so,

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which is why I'm happy to have met you.

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Whenever,
are you seeing some common mistakes?

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When it comes to businesses in the books,
like,

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you know, biggest
bookkeeping mistakes that you see?

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Yeah.

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The biggest bookkeeping
mistake is not having

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the separate business account
from your personal or

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to still use your business
and have a bunch

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of personal transactions in there
that you're having to move each month.

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And that's, it's
something that you want as few

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personal expenses mixed into your business
bank accounts as possible.

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Because the more you're sending money
back and forth, little here, little there,

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it just kind of raises a red flag of

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why is the money
moving back and forth so much?

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Why is there so much personal
on their business account or.

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Yeah, you're always having to add entries
of we have all these business

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expenses on personal
and all these personal over here.

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And it's so much smoother
if everything is fully separate.

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You can set up payroll,
you can set up draws to pay yourself.

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So that personal is all paid
through the personal.

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And business is only business.

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Right.

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One of the big ones that I see
on the lending side, whenever I'm

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putting mortgages together
for, business owners

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is, their auto payment,
truck payment, car payment.

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They got a vehicle that's part

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that's used in their business
and they don't know right off.

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They don't know this.

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But if you have 12 consecutive months

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of that vehicle
being paid from the business account,

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the lender does not have to count

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that car payment against your income,

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which, you know,
let's say it's a service truck.

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I mean, that's you're looking at somewhere
close to $1,000 a month.

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Yeah.

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But I as a lender,
I can add back to your income,

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which drives down their debt
to income ratio, and it frees up

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monthly income that can be counted
towards their housing expense.

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Huge win.

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And even if they're doing it
because they are,

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maybe they got their books 100%
and they're, you know.

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Oh yeah, my bank,
my business account pays for my vehicle.

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That is fantastic.

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Then I get this. Oh that's wonderful.
We don't get that.

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We don't have to count that
against your income.

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They don't necessarily know that.

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And so they're super excited about that.

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I mean $1,000 is a big chunk.

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Big difference in you know,

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I mean, that's the difference
between qualifying for $200,000

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home and a $500,000 home.

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It really is
that significant in a monthly payment.

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So yeah, that's a big one.

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That's one of the big ones
I'm always looking out for.

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So but there's others you know
you know there's plenty of others too.

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But that's the biggest,
biggest ticket item I usually see.

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So so why do you,

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or why do so many entrepreneurs
avoid looking at the numbers?

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I think it's a couple of things.

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It is either, one,
because they see it as a huge expense.

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They think it's going to be expensive

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to get their numbers up to date
if they're hiring somebody to do it.

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Which is not necessarily the case.

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The longer you wait,
the more expensive it's going to be,

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because then you have a whole bunch
you're digging through.

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Yeah.

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The other reason
people are usually waiting

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are because they think, well,
I'm going to get to it later.

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That's on my list.

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I'm going to get to my to do
list has to be done by this point.

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But then, you know, other emergencies
or other tasks and their business pop up

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or things that they just enjoy more,
get pushed above it.

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And then, you know,
now one thing they said, I'll do it

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next week, then it turns into next month
and now it's taxes are due.

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I've already extended their
this is the final deadline.

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I have to get it done.

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So just, convincing people

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that it's better to start it
sooner than later.

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Even something done

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imperfectly is better than trying
to be perfect right up at the beginning.

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How often do you like to

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review, the financials with them?

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I like to look at them
every month with a client.

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When we're doing a cleanup,
we'll kind of work for a month

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or two to get everything cleaned up.

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We'll have the big initial meeting
to review,

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make sure everything is looking correct.

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Make sure they like how we have it
categorized.

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If they have their own CPA.

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I love to meet with their CPA
to make sure that if there's any specifics

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that the CPA needs, we're following
that as well, right up at the beginning.

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But once it's set up
and we're working on it monthly,

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I like to meet with them monthly just to
say, here's where your numbers are.

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Here's what it's looking like.

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Here's the growth that we're seeing.

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And it also helps catch things faster.

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Maybe their card has been cloned.

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There's fraudulent transactions

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that they didn't notice
because it could be a small amount.

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And it's just oh, well,
that's another expense that popped up.

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But if we're looking at it monthly
and going through,

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we'll be able to say
this is a new expense.

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We don't normally see this.

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Was this really you can catch it
and they can, take it with their bank

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and then make sure they get everything
set up that they need to.

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And that's great that you mentioned that

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I have a client that he's he has told me
he'd have no idea.

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I mean, there's so much the,
the churning of of income

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coming in and going out on expenses.

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He's like, without my CPA, I would know.

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I just wouldn't know, you know, you know.

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So there you go.

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Once, once you're set up
and you're moving forward with the client,

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those meetings are they are they like 15,

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20, 30 minutes long or something like that
usually or.

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Yeah, I've had meetings,
as short as 15 minutes.

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We just kind of do a quick review.

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They're like, oh yeah, looks good.

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And then I've had some that, you know,

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even that monthly meeting
might be 45 minutes long.

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It depends on how many questions
that the client comes up with.

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If they have new things, maybe,
that month they got a new loan

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and we have some new documents and things
that we got to get set up in there

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to make sure it's
set up properly from the beginning.

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But once we're running smoothly
and we have those reports ready

241
00:13:22,160 --> 00:13:25,760
each month, 15 minutes is usually
all it takes for a quick review.

242
00:13:26,360 --> 00:13:27,240
Okay.

243
00:13:27,240 --> 00:13:30,920
Any any warning signs that they might be
falling behind with you or.

244
00:13:31,480 --> 00:13:32,600
Okay.

245
00:13:32,600 --> 00:13:38,840
So the biggest thing that I see
when somebody I can tell

246
00:13:38,840 --> 00:13:39,800
when they're overwhelmed

247
00:13:39,800 --> 00:13:44,480
is as we're working through it,
we start getting less responses.

248
00:13:44,640 --> 00:13:49,840
And that might be, hey, I just need
these statements to finalize everything.

249
00:13:49,840 --> 00:13:54,280
Or, in their accounting software,
your bank accounts disconnected, and

250
00:13:54,280 --> 00:13:57,840
now all the transactions aren't populating,
so I can't help you stay caught up.

251
00:13:58,760 --> 00:14:02,120
But if if the business owner
is overwhelmed and busy,

252
00:14:02,680 --> 00:14:05,120
they might not have the time
to take to sit

253
00:14:05,120 --> 00:14:08,440
and, you know, do a 15 minute
meeting to get those things caught up.

254
00:14:08,920 --> 00:14:12,800
So having the ability to,

255
00:14:13,760 --> 00:14:15,280
bank accounts, most of them

256
00:14:15,280 --> 00:14:19,400
will allow you a view-only user
so I can have my own login.

257
00:14:19,400 --> 00:14:21,440
All I can do is look at your statements.

258
00:14:21,440 --> 00:14:23,760
I'm not paying anybody.
I'm not touching the money.

259
00:14:23,760 --> 00:14:26,000
But I can help
get those reconnected in QuickBooks.

260
00:14:26,000 --> 00:14:29,240
Make sure nothing is falling behind
and not having to bother.

261
00:14:29,240 --> 00:14:31,640
Hey, I'm reconnecting your bank
accounts again.

262
00:14:31,640 --> 00:14:33,520
I need your help. Okay.

263
00:14:33,520 --> 00:14:34,720
And it helps.

264
00:14:34,720 --> 00:14:37,720
Keeps it running smoother.

265
00:14:37,760 --> 00:14:38,840
All right.

266
00:14:38,840 --> 00:14:39,440
When.

267
00:14:39,440 --> 00:14:42,440
When should someone hire a bookkeeper?

268
00:14:43,400 --> 00:14:47,720
Yeah, as soon as, having to work on

269
00:14:47,720 --> 00:14:50,960
their books is taking away from the money
making opportunities.

270
00:14:50,960 --> 00:14:55,000
If your calendar is full of sales
meetings, you're running out of time

271
00:14:55,000 --> 00:14:56,200
to look at the books.

272
00:14:56,200 --> 00:14:57,200
Yeah.

273
00:14:57,200 --> 00:14:59,920
It's also great for people
just starting a business,

274
00:14:59,920 --> 00:15:04,400
because they may not know
all of the different types of,

275
00:15:04,720 --> 00:15:08,280
deductions and claims that they can use

276
00:15:08,280 --> 00:15:12,760
all of the expenses
that do count as business expenses.

277
00:15:12,960 --> 00:15:14,880
We can help
get those set up from the beginning,

278
00:15:14,880 --> 00:15:15,920
so that they're not

279
00:15:15,920 --> 00:15:19,040
digging through their statements later
on to find how much they spent.

280
00:15:19,720 --> 00:15:20,440
Right.

281
00:15:20,440 --> 00:15:24,400
Are you looking for like,
is there a revenue

282
00:15:24,400 --> 00:15:27,640
threshold or is it just it's.

283
00:15:28,720 --> 00:15:31,080
No, there's really not a revenue
threshold.

284
00:15:31,080 --> 00:15:34,760
Then people,
if they're just starting their business

285
00:15:34,760 --> 00:15:39,680
and they only have maybe two clients,
it might not be worth it

286
00:15:39,680 --> 00:15:41,200
to have a bookkeeper yet.

287
00:15:41,200 --> 00:15:43,440
At least monthly.

288
00:15:43,440 --> 00:15:44,720
I think having a bookkeeper

289
00:15:44,720 --> 00:15:47,720
look at it quarterly help
you set it up at the beginning.

290
00:15:47,760 --> 00:15:51,480
That's a great way
to not have to pay monthly,

291
00:15:51,480 --> 00:15:52,880
because you're just getting set up.

292
00:15:52,880 --> 00:15:55,040
You're just getting sales
coming in the door, but,

293
00:15:55,040 --> 00:15:57,000
you know, it's set up
right at the beginning.

294
00:15:57,000 --> 00:16:00,200
And even some
we can do training at the beginning.

295
00:16:00,600 --> 00:16:05,160
But when you're really having to juggle.

296
00:16:05,480 --> 00:16:09,120
Okay, now I'm paying employees,
I'm paying 1099 contractors.

297
00:16:09,480 --> 00:16:14,000
Is it set up correctly
so that when January first hits

298
00:16:14,000 --> 00:16:16,560
and 1099s have to go out?

299
00:16:16,560 --> 00:16:17,800
Do you know those numbers?

300
00:16:17,800 --> 00:16:19,520
Do you know who these contractors are?

301
00:16:19,520 --> 00:16:21,160
Were they tracked properly?

302
00:16:21,160 --> 00:16:25,520
If you're having to juggle all of that,
you definitely need a bookkeeper.

303
00:16:26,560 --> 00:16:27,680
Yeah.

304
00:16:27,680 --> 00:16:32,360
Are you seeing, are you able to actually
show them where you're saving them money?

305
00:16:32,520 --> 00:16:35,000
Let's see if they're budget conscious.

306
00:16:35,000 --> 00:16:38,600
I mean, on one hand,
they're going, "Oh, that's another bill."

307
00:16:38,600 --> 00:16:39,680
I got it right.

308
00:16:39,680 --> 00:16:42,920
I know, check, but on the other hand,

309
00:16:43,360 --> 00:16:46,680
I mean, I would imagine
there's an opportunity

310
00:16:46,680 --> 00:16:49,680
there to really help guide their,

311
00:16:49,840 --> 00:16:52,760
their expenses.

312
00:16:52,760 --> 00:16:55,680
Yeah, there's definitely different things
that we'll look at.

313
00:16:55,680 --> 00:17:00,200
Especially if I see they're paying
for maybe a software

314
00:17:00,200 --> 00:17:04,640
every month and it's slowly
increasing, increasing, increasing thing.

315
00:17:04,640 --> 00:17:08,240
It might be a small increase, but
from the beginning of the year till now

316
00:17:08,240 --> 00:17:11,240
they've increased you
every month for this software.

317
00:17:11,280 --> 00:17:13,880
Let's look at
what is this software doing for you.

318
00:17:13,880 --> 00:17:16,880
And is there another option
that could save you money

319
00:17:17,120 --> 00:17:20,640
outside of that on, payment processing?

320
00:17:20,840 --> 00:17:25,400
That's a big one
that usually costs people more money

321
00:17:25,400 --> 00:17:29,200
than they realize
just on how you're taking payments.

322
00:17:29,520 --> 00:17:32,520
And we can really,

323
00:17:32,600 --> 00:17:37,160
you know, separate it
very clearly in their P&L of here's

324
00:17:37,160 --> 00:17:38,040
how much you brought in

325
00:17:38,040 --> 00:17:42,080
sales, here's how much of that
went to just running those invoices,

326
00:17:42,400 --> 00:17:45,880
and looking at other options
and connections to,

327
00:17:46,160 --> 00:17:51,760
other merchant providers to really see
how you can save money in that one aspect.

328
00:17:53,120 --> 00:17:54,200
Right.

329
00:17:54,200 --> 00:17:57,360
You know, subscriptions to of course,
I'm going to have this on my phone

330
00:17:57,360 --> 00:17:58,480
for my personal stuff.

331
00:17:58,480 --> 00:18:01,480
There's all these subscriptions,
I guarantee I forget about them.

332
00:18:02,200 --> 00:18:04,560
A year later I'm paying Verizon.

333
00:18:04,560 --> 00:18:05,240
What is this?

334
00:18:05,240 --> 00:18:06,320
And I haven't used it.

335
00:18:06,320 --> 00:18:09,320
I can think of Netflix is a good one.

336
00:18:09,440 --> 00:18:11,960
I use that seasonally,
depending on what it shows out,

337
00:18:11,960 --> 00:18:14,400
and then I'll forget about it
and I'll get billed for it.

338
00:18:14,400 --> 00:18:16,240
And I'm like, I didn't even.

339
00:18:16,240 --> 00:18:18,480
Know. Yeah.

340
00:18:18,480 --> 00:18:20,120
But on the business side,

341
00:18:20,120 --> 00:18:24,440
I, you know, I, I will,
I will go and sample a bunch of software

342
00:18:24,440 --> 00:18:27,440
and there will be some small print

343
00:18:27,680 --> 00:18:30,600
auto renewal thing.

344
00:18:30,600 --> 00:18:33,880
I will have moved on and won't notice it,

345
00:18:33,880 --> 00:18:37,640
until, till tax season.

346
00:18:38,800 --> 00:18:40,400
So, but

347
00:18:40,400 --> 00:18:43,600
it is also
one the reason why I reached out to you.

348
00:18:43,600 --> 00:18:46,640
So, so we're gonna we're gonna

349
00:18:46,640 --> 00:18:49,640
I'm going to learn
and apply that to my life as well.

350
00:18:50,880 --> 00:18:52,960
It's, are you seeing any kind of,

351
00:18:52,960 --> 00:18:57,440
like, ROI, return on investment,
for having a bookkeeper

352
00:18:57,440 --> 00:18:59,680
or having organized books?

353
00:18:59,680 --> 00:19:02,200
Yeah, I think, you know, there's

354
00:19:02,200 --> 00:19:05,440
different levels
of what a bookkeeper can do for you.

355
00:19:05,720 --> 00:19:11,760
I have people coming to me
when they said, I'm filing my taxes

356
00:19:11,760 --> 00:19:17,240
and looking at my QuickBooks,
it looks like my sales are doubled.

357
00:19:17,240 --> 00:19:20,720
I'm going to have to pay an immense number

358
00:19:20,960 --> 00:19:23,960
in taxes, but I don't think that's true.

359
00:19:24,640 --> 00:19:28,800
And so I've had to go and clean up
and look and realized in their QuickBooks

360
00:19:29,200 --> 00:19:33,120
it was marking their invoices as a sale.

361
00:19:33,120 --> 00:19:35,440
And then when that payment
came into the bank,

362
00:19:35,440 --> 00:19:39,200
it marked that as a separate sale
instead of matching them together.

363
00:19:39,200 --> 00:19:41,000
So it was duplicating everything.

364
00:19:41,000 --> 00:19:44,160
And if they did not reach out
and they just

365
00:19:44,160 --> 00:19:47,360
said, well, this is what QuickBooks
says, this must be what I made.

366
00:19:48,720 --> 00:19:49,320
They would have

367
00:19:49,320 --> 00:19:52,800
been saying that they made twice
as much as they really made,

368
00:19:52,800 --> 00:19:55,800
and would have had to pay
a whole lot more in taxes.

369
00:19:56,120 --> 00:19:58,000
Yeah.

370
00:19:58,000 --> 00:20:04,040
So knowing that you can look at it
there, outside of it, the other piece is,

371
00:20:04,280 --> 00:20:07,600
if you have a bookkeeper
that's helping you

372
00:20:08,360 --> 00:20:10,960
run the invoices,

373
00:20:10,960 --> 00:20:13,280
pay your vendors, do all of that,

374
00:20:13,280 --> 00:20:17,000
they can help set up a plan, to get it

375
00:20:17,480 --> 00:20:21,760
organized where, you know what
that cash flow looks like each week?

376
00:20:22,360 --> 00:20:26,400
If you're running, invoices,
paying, employees each week, you can say,

377
00:20:26,400 --> 00:20:30,840
here's where your cash flow is, here's
what money is coming into the bank.

378
00:20:30,840 --> 00:20:32,440
Here's what I'm expecting this week,

379
00:20:32,440 --> 00:20:35,520
based on all the invoices
that have been sent out, marked as paid,

380
00:20:35,880 --> 00:20:39,320
here's what you'll be sending out
and kind of really managing that money

381
00:20:39,320 --> 00:20:40,520
so it doesn't come back.

382
00:20:40,520 --> 00:20:43,680
That payroll bounced or all of a sudden

383
00:20:43,680 --> 00:20:46,720
they need to purchase something
and that money isn't there.

384
00:20:48,680 --> 00:20:49,920
Right.

385
00:20:49,920 --> 00:20:53,920
So I talked to a lot of realtors,
on the podcast.

386
00:20:53,920 --> 00:21:00,280
And What are there
some bookkeeping, bookkeeping, things

387
00:21:00,280 --> 00:21:03,520
especially related
or that would be especially important

388
00:21:03,520 --> 00:21:06,520
to realtors?

389
00:21:07,080 --> 00:21:07,760
Realtors

390
00:21:07,760 --> 00:21:13,160
have a lot of marketing materials
that go into the beginning

391
00:21:13,160 --> 00:21:17,280
of listing a house, reaching out,
find that customer clientele,

392
00:21:17,600 --> 00:21:22,320
that they really want to track
every piece of that.

393
00:21:22,320 --> 00:21:26,920
And I think it's definitely easy
to drop, or forget.

394
00:21:26,960 --> 00:21:31,720
Oh, I spent this, on new signs,
or I had to get this made.

395
00:21:31,920 --> 00:21:37,280
They might not recognize that all of these
big expenses went into one house.

396
00:21:37,280 --> 00:21:41,000
And if we're not looking at it
from the sale of that individual house,

397
00:21:42,400 --> 00:21:45,920
they they could be losing money in the end
if they're spending

398
00:21:46,360 --> 00:21:49,360
way too much on getting that house
set up before the sale.

399
00:21:49,720 --> 00:21:54,000
So I definitely think it's worth
looking at and seeing,

400
00:21:54,320 --> 00:21:58,320
kind of tracking all the marketing
that goes into each individual sale

401
00:21:58,320 --> 00:22:03,960
separately so that you can see
what percentage of this are you spending

402
00:22:03,960 --> 00:22:08,560
on marketing materials and the costs
associated with selling that house?

403
00:22:09,680 --> 00:22:11,200
Right. Wow.

404
00:22:11,200 --> 00:22:16,120
Are you seeing any major mistakes
that kind of stand out,

405
00:22:16,520 --> 00:22:19,520
with realtors?

406
00:22:21,880 --> 00:22:24,880
Not knowing that

407
00:22:25,360 --> 00:22:30,360
many of your other expenses
that could be seen as personal, like,

408
00:22:30,840 --> 00:22:35,480
until I get a new business
suit can be listed under business expenses

409
00:22:35,480 --> 00:22:41,400
because you are purchasing that outfit,
that uniform to wear

410
00:22:41,640 --> 00:22:46,280
when you're presenting yourself,
in a business, professional attire

411
00:22:46,600 --> 00:22:49,880
could even be, haircuts
and different things.

412
00:22:50,080 --> 00:22:51,680
CPAs will give,

413
00:22:51,680 --> 00:22:55,280
their final say on what they're counting
as those business expenses.

414
00:22:55,560 --> 00:22:57,080
But I like to look at all of that.

415
00:22:57,080 --> 00:23:00,600
If you are presenting yourself,
you have a specific way.

416
00:23:00,800 --> 00:23:02,000
Realtors definitely do.

417
00:23:02,000 --> 00:23:03,520
They like to look nice,

418
00:23:03,520 --> 00:23:07,280
and have a best foot forward
when they're meeting with clients.

419
00:23:07,520 --> 00:23:11,040
And many of those expenses
can be listed as business expenses.

420
00:23:12,840 --> 00:23:15,080
Interest.

421
00:23:15,080 --> 00:23:18,080
You show up in a tuxedo?

422
00:23:18,680 --> 00:23:20,120
Yeah. I don't know.

423
00:23:20,120 --> 00:23:22,200
Put it on there.

424
00:23:22,200 --> 00:23:24,200
Oh, well, I just did a podcast.

425
00:23:24,200 --> 00:23:26,480
It's going to get published
probably next week.

426
00:23:26,480 --> 00:23:29,360
Here's the guy's,

427
00:23:29,360 --> 00:23:33,520
his whole branding is is Harley-Davidson,
and he owns

428
00:23:33,560 --> 00:23:37,240
Harley-Davidson, and he shows up
to all of his business on that.

429
00:23:37,240 --> 00:23:40,240
Harley just had a wasp fly by.

430
00:23:41,560 --> 00:23:44,520
Anyway, and so there you go.

431
00:23:44,520 --> 00:23:49,160
That, you know, I could see,
obviously the vehicle, the motorcycle,

432
00:23:49,240 --> 00:23:52,240
you know, the helmet,
you know, the helmet, the,

433
00:23:52,840 --> 00:23:55,840
the chaps, every there's a
there's a lot that could go into that.

434
00:23:55,920 --> 00:23:57,520
I wonder if he's doing. Yeah. I'm not.

435
00:23:57,520 --> 00:23:58,520
I'm going to send this to him.

436
00:23:58,520 --> 00:24:01,520
Let him be entertained by that.

437
00:24:01,880 --> 00:24:02,840
Yeah.

438
00:24:02,840 --> 00:24:05,520
Wow. Yeah.

439
00:24:05,520 --> 00:24:08,520
So, let's see.

440
00:24:08,600 --> 00:24:12,640
So they're all commission
based professionals. So,

441
00:24:14,720 --> 00:24:15,440
Any, any

442
00:24:15,440 --> 00:24:18,560
habits that they could establish
that early on

443
00:24:18,560 --> 00:24:21,560
that would help you?

444
00:24:24,720 --> 00:24:25,600
I think that open

445
00:24:25,600 --> 00:24:31,160
communication is best,
because as I look through things,

446
00:24:31,160 --> 00:24:34,280
as I'm categorizing,
definitely at the beginning of getting

447
00:24:34,280 --> 00:24:39,360
to know a new business and a new owner
and how they work and how they,

448
00:24:40,840 --> 00:24:42,880
go about their day with their expenses.

449
00:24:42,880 --> 00:24:46,520
I have a lot of questions up
front of what you're spending it on,

450
00:24:46,520 --> 00:24:50,800
how it helps the business,
and what it goes towards that

451
00:24:50,800 --> 00:24:53,800
if we can get all of those big questions
answered early on,

452
00:24:54,160 --> 00:24:57,120
then I pretty much get a feel.

453
00:24:57,120 --> 00:24:58,520
And then as the months go on,

454
00:24:58,520 --> 00:25:02,960
the questions are less and less because
most of those expenses are expected.

455
00:25:02,960 --> 00:25:07,000
And I, I can see, okay,
this is this type of expense

456
00:25:07,000 --> 00:25:10,040
because here's what they've spent
in the past and it's similar to that.

457
00:25:10,040 --> 00:25:11,600
Here's what they're using it on.

458
00:25:11,600 --> 00:25:13,160
And then we'll just review it

459
00:25:13,160 --> 00:25:16,640
during our meeting over
the month of here's what I've categorized.

460
00:25:16,640 --> 00:25:21,480
That might be something new, but I could kind
of tell what you're purchasing that for.

461
00:25:22,560 --> 00:25:25,120
In the odds that if we keep it up-to-date

462
00:25:25,120 --> 00:25:29,440
monthly, it's easier
to remember what those expenses are.

463
00:25:29,480 --> 00:25:29,600
Like.

464
00:25:29,600 --> 00:25:31,760
You said, you'll lose receipts.
You'll tell yourself,

465
00:25:31,760 --> 00:25:34,280
I'm going to remember this,
and then you don't later on.

466
00:25:34,280 --> 00:25:37,280
If you wait until the end of the year,
you're definitely not going to remember

467
00:25:37,280 --> 00:25:42,440
what that $100, $50, $200
might have been for.

468
00:25:42,440 --> 00:25:45,240
But if it's in the same month,
most likely you're going to.

469
00:25:45,240 --> 00:25:47,840
Yes, I was meeting this client
on this day.

470
00:25:47,840 --> 00:25:50,600
We had lunch. Here's what that was for.

471
00:25:50,600 --> 00:25:51,520
Right.

472
00:25:51,520 --> 00:25:53,520
All right, let's shift
gears a little bit.

473
00:25:53,520 --> 00:25:57,600
Talk about, the mortgage angle.

474
00:25:59,200 --> 00:26:03,320
Why do clean books help
when it comes to mortgages?

475
00:26:04,160 --> 00:26:04,600
Yeah.

476
00:26:04,600 --> 00:26:08,560
If your books are messy,
it's going to delay everything.

477
00:26:08,560 --> 00:26:10,840
There's more questions that pop up.

478
00:26:10,840 --> 00:26:13,520
There's more things
that have to be dug into.

479
00:26:13,520 --> 00:26:14,960
It takes a little bit longer.

480
00:26:14,960 --> 00:26:19,840
If you have clean books,
then the questions are going to be less.

481
00:26:19,840 --> 00:26:22,080
They're just looking at here's what it is.

482
00:26:22,080 --> 00:26:23,800
Here's what we can expect.

483
00:26:23,800 --> 00:26:29,360
The documentation of it gets a little bit
quicker and income can be verified.

484
00:26:31,160 --> 00:26:32,440
Easier if it's messy.

485
00:26:32,440 --> 00:26:34,520
There's there's more digging,
more questions,

486
00:26:34,520 --> 00:26:38,160
sorting it out and kind of figuring
where is everything?

487
00:26:39,400 --> 00:26:42,880
Yeah,
that car payment, it's always top of mind.

488
00:26:42,920 --> 00:26:44,480
I mean, that's the biggest one usually.

489
00:26:44,480 --> 00:26:47,840
But the fact is, I mean, even,
you know, there's a couple other

490
00:26:47,840 --> 00:26:53,400
line items that are, you know,
as a lender, I'm looking at it and say,

491
00:26:53,400 --> 00:26:56,720
well, where can we add money back,

492
00:26:56,720 --> 00:26:59,720
to lower their debt-to-income ratio?

493
00:26:59,800 --> 00:27:02,040
So we're I'm always looking at that.

494
00:27:02,040 --> 00:27:05,040
If the books are clean
and it's all laid out in front of me,

495
00:27:05,240 --> 00:27:08,600
I can put a loan together
in about 48 hours on self-employed.

496
00:27:09,320 --> 00:27:13,160
And, if it's not, well,
then it leaves room.

497
00:27:13,400 --> 00:27:15,240
It's going to take longer.

498
00:27:15,240 --> 00:27:17,600
Sometimes a lot longer. I

499
00:27:18,840 --> 00:27:21,840
go from 48 hours to two weeks, so.

500
00:27:21,840 --> 00:27:22,880
Yeah. Yeah.

501
00:27:22,880 --> 00:27:24,760
I mean, we're looking
if it's close, right?

502
00:27:24,760 --> 00:27:29,360
It's a, you know, trying to qualify,
for a specific amount.

503
00:27:29,360 --> 00:27:32,360
And, if there's an opportunity to,

504
00:27:32,560 --> 00:27:37,320
to add back, income,
I definitely want to get that done.

505
00:27:37,320 --> 00:27:40,800
And so,
because it just helps the borrower out,

506
00:27:40,800 --> 00:27:46,440
helps them out in their residual income,
the risk analysis from the lender,

507
00:27:47,040 --> 00:27:51,880
which what that translates,
what that means to the borrower,

508
00:27:51,880 --> 00:27:52,760
the future homeowner,

509
00:27:52,760 --> 00:27:56,920
is that a lower interest payment,
a lower cost loan, lower closing costs.

510
00:27:56,920 --> 00:28:00,120
So those are those big things
that really hit the pocketbook.

511
00:28:00,120 --> 00:28:03,800
So, I really am working to help them
hang on to their money.

512
00:28:04,400 --> 00:28:07,200
Yeah, I know that's hard to come by,
so I want to help them. Hey.

513
00:28:07,200 --> 00:28:07,520
Good.

514
00:28:08,680 --> 00:28:12,760
So, what can a business owner

515
00:28:12,760 --> 00:28:16,720
do today to improve their chances
of qualifying for a loan?

516
00:28:18,200 --> 00:28:22,080
Okay, the big thing is

517
00:28:23,360 --> 00:28:26,960
you don't want to have where
everything is or right off.

518
00:28:27,360 --> 00:28:30,240
Especially if they're self-employed.

519
00:28:30,240 --> 00:28:34,160
If you're having it where everything is
deductible, business expense,

520
00:28:35,320 --> 00:28:39,440
it saves on your taxes,
but then you're not showing that profit,

521
00:28:39,720 --> 00:28:43,480
which is needed at the end of the day
for those loans.

522
00:28:43,800 --> 00:28:47,360
So you definitely have to work
with your bookkeeper

523
00:28:47,360 --> 00:28:50,520
and with your CPA to figure out
what is the right balance,

524
00:28:50,840 --> 00:28:55,000
what's going to help, on the lending side

525
00:28:55,440 --> 00:28:58,440
and save you on the tax side.

526
00:28:58,920 --> 00:29:03,160
Because you're looking at more than just
I don't want to pay anything in taxes,

527
00:29:03,160 --> 00:29:06,680
but then you wouldn't qualify
because there's no profit left.

528
00:29:08,160 --> 00:29:09,120
Yeah.

529
00:29:09,120 --> 00:29:13,560
If if they're
doing if they're keeping their personal

530
00:29:13,560 --> 00:29:16,560
and their business finances separate

531
00:29:16,560 --> 00:29:19,840
business credit cards,
personal credit card separate,

532
00:29:20,360 --> 00:29:24,440
sometimes they don't sometimes charge
I do it, charge it on the wrong card.

533
00:29:24,440 --> 00:29:26,920
It's done so right. Great.

534
00:29:26,920 --> 00:29:28,400
You'll see that.

535
00:29:28,400 --> 00:29:29,400
And sorry.

536
00:29:29,400 --> 00:29:32,040
You'll see that on online.

537
00:29:32,040 --> 00:29:35,040
But is I think is there.

538
00:29:37,040 --> 00:29:38,600
There's some big ticket items

539
00:29:38,600 --> 00:29:42,960
they can do in preparation
for getting a mortgage.

540
00:29:43,480 --> 00:29:46,440
Are you,
have you heard through the industry

541
00:29:46,440 --> 00:29:49,720
and what's your experience
that they're things that they can avoid?

542
00:29:49,720 --> 00:29:52,720
I have some things in mind, too,
if I wanted to hear from you.

543
00:29:55,160 --> 00:29:55,880
I'm not sure.

544
00:29:55,880 --> 00:29:57,040
Off the top of my head,

545
00:29:57,040 --> 00:30:01,920
I do know that I had a client
that was using their, financial

546
00:30:01,920 --> 00:30:05,800
documents, their P&L and balance sheet
to qualify for a mortgage loan.

547
00:30:06,120 --> 00:30:08,840
And we had it clean, organized.

548
00:30:08,840 --> 00:30:10,480
So they really didn't have any questions.

549
00:30:10,480 --> 00:30:13,800
At the end of the day,
it was just me verifying these are set up.

550
00:30:13,800 --> 00:30:15,160
These are good to go.

551
00:30:15,160 --> 00:30:17,760
The information
that's on here is accurate.

552
00:30:17,760 --> 00:30:18,880
It's true.

553
00:30:18,880 --> 00:30:21,200
And then I just
had to sign my name on it.

554
00:30:21,200 --> 00:30:23,360
And they were able to take that
and use that.

555
00:30:23,360 --> 00:30:26,360
On the, the lending side.

556
00:30:26,720 --> 00:30:31,880
No, but I love to hear your big
ticket items to look for our.

557
00:30:33,320 --> 00:30:33,680
All right,

558
00:30:33,680 --> 00:30:36,760
number one credit cards,
whether it's the business card

559
00:30:36,760 --> 00:30:39,760
or their personal account
or, personal cards,

560
00:30:40,560 --> 00:30:44,280
or if there are intermingled,
that balance.

561
00:30:44,280 --> 00:30:48,800
So I always tell people,
look at your credit card statement,

562
00:30:48,800 --> 00:30:52,480
there's two dates, there's the due date,
and then there's a report date.

563
00:30:53,520 --> 00:30:57,720
That due date is when your bills do they
after that or whatever

564
00:30:57,720 --> 00:31:01,560
after the grace period it's
going to get reported as late pays, slow pay,

565
00:31:01,560 --> 00:31:03,400
missed payment right on the credit report.

566
00:31:03,400 --> 00:31:05,640
So that's going to ding their scores.

567
00:31:05,640 --> 00:31:08,240
They can pay it on time.

568
00:31:08,240 --> 00:31:09,320
And that's great.

569
00:31:09,320 --> 00:31:11,840
You know they
you know good credit payment history.

570
00:31:11,840 --> 00:31:16,640
The thing I like to
for the ask them to look out for

571
00:31:17,000 --> 00:31:20,120
is the, the balance, the credit limit,

572
00:31:21,680 --> 00:31:23,280
and usage.

573
00:31:23,280 --> 00:31:27,560
So that's when that report date becomes,

574
00:31:28,120 --> 00:31:32,480
real important
because whatever the balance is

575
00:31:32,960 --> 00:31:35,600
on that report date is,

576
00:31:35,600 --> 00:31:39,240
is when Mastercard or Visa, whoever it is,

577
00:31:39,600 --> 00:31:44,440
is going to report to the credit bureaus
the balance on that card.

578
00:31:45,200 --> 00:31:48,120
And this happens to me,
I have one card that you use

579
00:31:48,120 --> 00:31:51,120
for travel and I will run it up.

580
00:31:51,160 --> 00:31:55,120
Flights, Ubers, food, hotel.

581
00:31:56,440 --> 00:31:59,520
All the other things that go on
with the convention and or conference

582
00:32:00,000 --> 00:32:03,000
and that card will, I'll run it up and

583
00:32:05,280 --> 00:32:07,200
The balance on, I'll hit, I'll go over

584
00:32:07,200 --> 00:32:10,200
50% of the limit

585
00:32:10,200 --> 00:32:12,680
and I'll, I know when the report date is.

586
00:32:12,680 --> 00:32:15,680
So I will go in and write a check

587
00:32:16,040 --> 00:32:18,440
and pay it below,

588
00:32:18,440 --> 00:32:21,480
below 30%,
if you will, of the limit or down.

589
00:32:21,800 --> 00:32:24,920
I try not to keep a balance of,
you know, pay it off, right.

590
00:32:25,440 --> 00:32:29,120
Or pay it down
to whatever something menial.

591
00:32:31,160 --> 00:32:33,720
And then the report date happens,

592
00:32:33,720 --> 00:32:37,680
whatever that new balance
is, let's say it's 100 bucks.

593
00:32:38,480 --> 00:32:40,400
The credit bureaus are not.

594
00:32:40,400 --> 00:32:44,160
They have no idea that you just spent
$5,000 on a trip.

595
00:32:44,840 --> 00:32:47,560
I just see that your balance
on the report date

596
00:32:47,560 --> 00:32:50,720
on your $5,000 limit is 100 bucks.

597
00:32:51,360 --> 00:32:53,360
So they're going to get an on time
payment.

598
00:32:53,360 --> 00:32:56,120
They're going to get responsible usage.

599
00:32:56,120 --> 00:32:59,120
And obviously, additional history,

600
00:32:59,240 --> 00:33:03,360
that reflect reflect
greatly on your scores.

601
00:33:04,280 --> 00:33:08,240
Whereas if you go run up a business card
or personal card,

602
00:33:08,880 --> 00:33:11,560
and it shows that on that

603
00:33:11,560 --> 00:33:14,560
report date, you're going to lose

604
00:33:14,960 --> 00:33:17,600
40, maybe 80 points,

605
00:33:17,600 --> 00:33:20,360
depending on how bad you ran it up.

606
00:33:20,360 --> 00:33:23,320
And that's going to just going to cause
a major swing

607
00:33:23,320 --> 00:33:26,320
in your credit scores,
your Fico score for housing.

608
00:33:26,440 --> 00:33:28,960
That's that's the big one.

609
00:33:30,320 --> 00:33:31,920
If I in

610
00:33:31,920 --> 00:33:35,960
talking with, well, anybody
but business owners

611
00:33:35,960 --> 00:33:42,160
specifically about those credit scores,
and those, those account balances.

612
00:33:42,200 --> 00:33:44,200
So what is your what are you trending?

613
00:33:44,200 --> 00:33:47,040
Oftentimes they tell me, oh, I pay it off
every month.

614
00:33:47,040 --> 00:33:51,920
I say, great, let's look at those two
dates and see what we can do to adjust.

615
00:33:51,920 --> 00:33:55,880
Because if we have time, it
does, you know, once they get 2

616
00:33:55,880 --> 00:33:58,920
or 3 months of that kind of history,
now that they know,

617
00:33:59,640 --> 00:34:03,200
it'll, it'll run their scores up a lot.

618
00:34:03,640 --> 00:34:08,120
And so which translates
into significant savings for the borrower.

619
00:34:08,560 --> 00:34:11,360
That's why number one, that's my
that's my soapbox.

620
00:34:11,360 --> 00:34:13,120
It'll all die on that.

621
00:34:13,120 --> 00:34:18,200
So, how are you in business growth?

622
00:34:18,200 --> 00:34:22,320
What does what does a bookkeeper do
that helps a home homeowners

623
00:34:22,360 --> 00:34:23,960
or help business owners sleep better?

624
00:34:25,440 --> 00:34:26,640
Ooh. Okay.

625
00:34:26,640 --> 00:34:30,760
So, knowing where the numbers are,

626
00:34:30,800 --> 00:34:34,560
not just knowing what's in the bank
account at the end of the day,

627
00:34:34,560 --> 00:34:37,560
because the bank account is going to go up
and down with each expense.

628
00:34:37,920 --> 00:34:43,360
But knowing what that means
in the full view of your company,

629
00:34:43,680 --> 00:34:47,480
you might have money
sitting in the bank account, but you could

630
00:34:47,480 --> 00:34:53,720
still be net negative on your,
profit and loss on your balance sheet.

631
00:34:53,760 --> 00:34:57,200
If, you have more expenses

632
00:34:57,200 --> 00:35:00,200
than you have income coming in.

633
00:35:00,280 --> 00:35:03,120
Just because the money is
there doesn't mean you're

634
00:35:03,120 --> 00:35:06,120
growing and building your business
and making profit every month.

635
00:35:06,440 --> 00:35:10,480
So really, knowing what that looks like,
knowing what to expect

636
00:35:10,480 --> 00:35:14,560
each month, once you are in the habit
of looking at those numbers,

637
00:35:16,200 --> 00:35:17,240
and not only looking at your

638
00:35:17,240 --> 00:35:21,000
numbers, but looking at your accounts
receivable summary.

639
00:35:21,240 --> 00:35:26,120
Do you have invoices that are
sitting there for months, over months?

640
00:35:26,120 --> 00:35:29,240
Maybe there's a certain client that always

641
00:35:29,240 --> 00:35:32,240
takes three months to pay an invoice.

642
00:35:32,440 --> 00:35:35,520
Knowing when those are sitting there,

643
00:35:35,560 --> 00:35:38,880
when to start reaching out, to have
somebody help you start reaching out

644
00:35:38,880 --> 00:35:42,920
to send things to collections,
and not have a massive amount.

645
00:35:42,920 --> 00:35:45,920
Sitting in your accounts
receivable can help.

646
00:35:47,160 --> 00:35:49,120
But knowing that

647
00:35:49,120 --> 00:35:51,480
there's time saved off of your day,

648
00:35:51,480 --> 00:35:54,680
the business owner is not the one
that has to go track all of this.

649
00:35:54,680 --> 00:35:56,000
Figure it out.

650
00:35:56,000 --> 00:35:58,560
They look at the final completed report
to see

651
00:35:58,560 --> 00:36:01,560
what do they need to do next.

652
00:36:02,680 --> 00:36:04,000
All right.

653
00:36:04,000 --> 00:36:08,000
What's biggest what's the difference
between a bookkeeper and an accountant?

654
00:36:09,320 --> 00:36:12,680
So a bookkeeper is working on,

655
00:36:12,960 --> 00:36:18,680
categorizing the books, kind of, seeing
what is there.

656
00:36:19,160 --> 00:36:20,600
It's what you've already spent.

657
00:36:20,600 --> 00:36:23,120
The accountant is taking it.

658
00:36:23,120 --> 00:36:28,120
The next step of figuring out
is, are you in compliance with everything?

659
00:36:28,320 --> 00:36:34,040
We're analyzing those numbers, seeing
if there's a strategy to put in place.

660
00:36:34,280 --> 00:36:38,000
And the CPA is helping you with, filing

661
00:36:38,000 --> 00:36:41,000
your taxes,
making sure you're following those laws.

662
00:36:41,240 --> 00:36:46,720
If you think of it like building a house,
the bookkeeping is just the foundation.

663
00:36:46,720 --> 00:36:50,000
It's getting it set up,
making sure that you have a strong base.

664
00:36:50,440 --> 00:36:56,000
The accountant is starting to analyze,
build the walls,

665
00:36:56,000 --> 00:36:59,920
and then the CPA is the final touch
of putting everything together.

666
00:36:59,920 --> 00:37:02,920
It's now a livable house.

667
00:37:03,880 --> 00:37:06,600
All right,
so we're building a foundation first.

668
00:37:06,600 --> 00:37:11,480
What is the one financial advice
that you give an entrepreneur?

669
00:37:14,040 --> 00:37:18,120
Make sure
it's separated from the beginning.

670
00:37:18,320 --> 00:37:21,680
You have some way to track your expenses.

671
00:37:22,040 --> 00:37:26,080
Any type of accounting software can help.

672
00:37:26,280 --> 00:37:29,240
If you have it set up at the beginning,
then you're not digging,

673
00:37:29,240 --> 00:37:32,280
finding, splitting everything up.

674
00:37:32,280 --> 00:37:33,400
It's there.

675
00:37:33,400 --> 00:37:34,960
It's collecting the data.

676
00:37:34,960 --> 00:37:37,960
It just has to be organized a little bit.

677
00:37:40,800 --> 00:37:42,320
Okay.

678
00:37:42,320 --> 00:37:45,320
You ready for some rapid fire questions?

679
00:37:45,320 --> 00:37:48,320
Absolutely.

680
00:37:48,480 --> 00:37:50,240
We got a little bit lagging okay.

681
00:37:50,240 --> 00:37:52,600
All right. So let's do this.
This help people get to know you.

682
00:37:52,600 --> 00:37:56,480
Because outside of bookkeeping,
you're not boring for sure. So.

683
00:37:57,360 --> 00:37:59,960
All right, big one for me. Coffee or tea?

684
00:37:59,960 --> 00:38:02,960
Coffee all day long.

685
00:38:05,000 --> 00:38:05,600
All right.

686
00:38:05,600 --> 00:38:06,720
Yeah.

687
00:38:06,720 --> 00:38:09,600
It's never too
hot for a cup of coffee now.

688
00:38:09,600 --> 00:38:12,600
So, early bird or night owl?

689
00:38:12,840 --> 00:38:13,840
I'm a night owl.

690
00:38:17,560 --> 00:38:18,600
All right.

691
00:38:18,600 --> 00:38:20,360
Favorite. Your.

692
00:38:20,360 --> 00:38:23,360
What's your favorite app for businesses?

693
00:38:24,440 --> 00:38:27,440
I have two, QuickBooks online

694
00:38:27,440 --> 00:38:30,360
for tracking those expenses,
doing all of the bookkeeping.

695
00:38:30,360 --> 00:38:34,280
The other one is my CRM go high level for,

696
00:38:34,520 --> 00:38:37,560
keeping track of the calls, communicating
with clients

697
00:38:37,560 --> 00:38:40,560
in all of my notes.

698
00:38:41,520 --> 00:38:42,360
Okay.

699
00:38:42,360 --> 00:38:45,360
All right, so how about,

700
00:38:46,000 --> 00:38:49,040
talking about notes, digital or paper?

701
00:38:51,200 --> 00:38:52,600
I go back and forth.

702
00:38:52,600 --> 00:38:56,840
I'm trying to have everything digital
so I can access it anywhere,

703
00:38:56,960 --> 00:39:00,240
talk with a client exactly
where they're at, no matter where I am.

704
00:39:00,240 --> 00:39:03,240
But I'm also just a paper person and love

705
00:39:03,600 --> 00:39:06,600
paper and pen.

706
00:39:06,920 --> 00:39:07,520
Yeah.

707
00:39:07,520 --> 00:39:08,600
Same here.

708
00:39:08,600 --> 00:39:11,600
I went and got, I have a notable.

709
00:39:11,600 --> 00:39:14,000
It's a digital note keeper.

710
00:39:14,000 --> 00:39:16,320
Paper.

711
00:39:16,320 --> 00:39:18,440
Fantastic. When I remember to use it.

712
00:39:18,440 --> 00:39:19,360
But I also have

713
00:39:20,560 --> 00:39:23,560
my legal pad, which is everything

714
00:39:24,680 --> 00:39:26,520
that's like, you know.

715
00:39:26,520 --> 00:39:27,600
Yeah, I got them both.

716
00:39:27,600 --> 00:39:30,600
But really, like, my notebook. I just.

717
00:39:31,080 --> 00:39:33,760
So, Let's see. Let's.

718
00:39:33,760 --> 00:39:36,760
One thing people don't know about you.

719
00:39:42,320 --> 00:39:45,160
I live in Denison,

720
00:39:45,160 --> 00:39:49,000
so I'm, like, ten minutes
from the Oklahoma line

721
00:39:50,000 --> 00:39:50,520
that. Yep.

722
00:39:50,520 --> 00:39:54,720
Somebody every time I'm talking about
where I'm located, because I am

723
00:39:55,280 --> 00:39:58,280
have accidentally driven into Oklahoma
many times.

724
00:40:10,840 --> 00:40:13,760
Do you get, you
you had to take vacations.

725
00:40:13,760 --> 00:40:16,760
You got a favorite vacation spot?

726
00:40:17,840 --> 00:40:22,400
I love going to beach areas,

727
00:40:24,200 --> 00:40:28,520
but I don't really like the sand
or being in the the ocean,

728
00:40:28,520 --> 00:40:33,680
but I like being in the beach,
the tropical area, being around water.

729
00:40:33,800 --> 00:40:35,120
I just don't want to be in the sand.

730
00:40:42,560 --> 00:40:43,160
Fair enough.

731
00:40:43,160 --> 00:40:46,600
No sand. All right. Do you?

732
00:40:46,640 --> 00:40:49,000
When it comes to

733
00:40:49,000 --> 00:40:52,520
your business,
is there a book that you would recommend

734
00:40:53,000 --> 00:40:56,120
an entrepreneur or business owner to own
or to read?

735
00:40:58,240 --> 00:40:58,560
Yeah.

736
00:40:58,560 --> 00:41:03,800
Sticking with the theme of bookkeeping,
Profit First is a great one.

737
00:41:04,160 --> 00:41:07,920
It talks about different types
of bank accounts

738
00:41:07,920 --> 00:41:11,480
and how to split it up to easily track,

739
00:41:11,760 --> 00:41:14,600
expenses savings,

740
00:41:14,600 --> 00:41:18,560
having a separate account of savings
just towards taxes.

741
00:41:18,960 --> 00:41:21,440
So profit first is a great one.

742
00:41:21,440 --> 00:41:24,560
If you want to know more about the numbers
and how to organize it.

743
00:41:35,480 --> 00:41:36,200
Alright.

744
00:41:36,200 --> 00:41:39,680
Last,
we're almost we're almost out of time.

745
00:41:39,680 --> 00:41:42,680
So I wanted to make sure
I had everything covered as or

746
00:41:42,680 --> 00:41:46,560
as much as possible
in this, in this podcast,

747
00:41:47,160 --> 00:41:50,000
final piece of advice
you might give somebody that's,

748
00:41:50,000 --> 00:41:53,080
maybe feeling a little overwhelmed
in their business financials.

749
00:41:54,400 --> 00:41:57,400
Yeah. So,

750
00:41:57,680 --> 00:42:02,360
your bank account tells you how much cash
you have in it, but it is not the end

751
00:42:02,360 --> 00:42:06,080
all be all what you should use
to make financial decisions.

752
00:42:06,360 --> 00:42:09,680
If you're overwhelmed,
have somebody help you,

753
00:42:09,680 --> 00:42:14,000
whether it's training, setting it up
so that it's easier for you to use,

754
00:42:14,000 --> 00:42:18,360
or just giving you advice,
you don't have to do everything yourself.

755
00:42:18,360 --> 00:42:19,200
That's the best part

756
00:42:19,200 --> 00:42:22,840
about being a business owner,
bringing in the advice from other people

757
00:42:22,840 --> 00:42:27,320
that can help ease your anxiety
in all of those areas.

758
00:42:28,760 --> 00:42:31,320
All right, tell me,

759
00:42:31,320 --> 00:42:34,720
what is
the best way somebody

760
00:42:34,720 --> 00:42:36,320
Realtors, entrepreneurs,

761
00:42:36,320 --> 00:42:37,520
Self-employed.

762
00:42:37,520 --> 00:42:39,560
They're looking for a bookkeeper.

763
00:42:39,560 --> 00:42:41,960
What's the best way
they can get ahold of you?

764
00:42:41,960 --> 00:42:44,000
Yeah, you can definitely,

765
00:42:44,000 --> 00:42:47,000
contact me at boringbookkeeping.com.

766
00:42:47,160 --> 00:42:51,840
I have a chat widget on there where
it starts a text conversation between us.

767
00:42:51,840 --> 00:42:53,400
There's a contact form.

768
00:42:53,400 --> 00:42:57,240
I am on Facebook and LinkedIn as well.

769
00:42:57,560 --> 00:42:59,720
Or you can always give me a call.

770
00:43:02,680 --> 00:43:03,440
All right.

771
00:43:03,440 --> 00:43:05,120
I'll put the links down below.

772
00:43:05,120 --> 00:43:08,600
Wherever you're consuming this podcast,
those links will be there.

773
00:43:09,840 --> 00:43:12,840
Kasi, thank you very much.

774
00:43:13,520 --> 00:43:16,520
The Boring Bookkeeper.

775
00:43:16,840 --> 00:43:17,840
Absolutely.

776
00:43:17,840 --> 00:43:20,000
Get that right.

777
00:43:20,000 --> 00:43:21,400
The company's Boring Bookkeeping.

778
00:43:21,400 --> 00:43:22,280
But I will say.

779
00:43:22,280 --> 00:43:25,280
And the Boring Bookkeeper.

780
00:43:26,680 --> 00:43:29,800
But, and I see I messed it up, so.

781
00:43:30,160 --> 00:43:32,320
All right, I'm gonna make sure it's
right in the algorithm.

782
00:43:32,320 --> 00:43:35,640
So, maybe I'm going to edit this part.

783
00:43:35,720 --> 00:43:38,800
Also, I present myself as perfect. Right?

784
00:43:39,040 --> 00:43:40,480
It's all good.

785
00:43:40,480 --> 00:43:41,480
Well, there you have it.

786
00:43:41,480 --> 00:43:43,680
Kasi, thank you very much.

787
00:43:43,680 --> 00:43:47,720
See, I'm getting flustered today, so,
that's going to be it

788
00:43:47,720 --> 00:43:50,880
for this episode of Between Two Doors.

789
00:43:51,200 --> 00:43:53,760
And thank you very much for being a guest.

790
00:43:53,760 --> 00:43:55,160
Thank you.

791
00:43:55,160 --> 00:43:57,160
This is my first podcast.

792
00:43:57,160 --> 00:43:57,920
Well, there you go.

793
00:43:57,920 --> 00:44:00,200
We'll come back,
do some highlights along the way.

794
00:44:00,200 --> 00:44:01,440
Things change.

795
00:44:01,440 --> 00:44:04,440
You know the rules. You know, who knows?

796
00:44:04,440 --> 00:44:04,720
You know,

797
00:44:04,720 --> 00:44:06,920
whatever comes out of government,
state, local, federal,

798
00:44:06,920 --> 00:44:09,920
if any of that changes will,
we'll hop on and do an update.

799
00:44:10,520 --> 00:44:11,480
Perfect. Sounds good.