25 - Bookkeeping 101 with Frolic Bookkeeping

Are you someone who gets intimidated by finances in your business, and you just are not sure where in the world to start? Well, I am bringing a very requested topic to you all on bookkeeping 101. I have our friend Olivia with us today and we're going to talk about the difference between a bookkeeper and an accountant, a few of Olivia's top bookkeeping and finance practices she recommends for entrepreneurs (and yes, that does include how to pay yourself and how much to pay for taxes), the difference between sales and profit, and the term "knowing your numbers" because that's something that gets thrown around a lot. Get ready, because you are going to walk away with some super tangible steps from this short, yet packed episode!   You are going to learn all about:    The difference between a bookkeeper and an accountant  Olivia's top bookkeeping and finance practices  How to pay yourself  The first steps to take when figuring out taxes  The difference between sales and profit  What it means to know your numbers  Olivia's bookkeeping software recommendations  The reports we should all be looking at routinely  When to know it's time to hire a bookkeeper  How to budget and forecast    SHOW NOTES:  https://clairehunt.co/blog/bookkeeping-101-with-frolic-bookkeeping/   Featured Offerings or Resources Mentioned in the Episode: Check out Olivia's profit and loss spreadsheet. You can get 20% off with the code ALLANGLES. Getting ghosted when a dream client inquires? Hook more of your inquiries with these FREE 4 inquiry email templates. Wanting to increase your booking rate and convert more discovery calls? Get the discovery call script here. Needing to increase inquiries and get booked consistently? Learn more about Book It Mentorship Program here. Connect with Claire: Claire's Instagram Connect with Olivia: Olivia's Instagram  Olivia's Website