Bookkeeping with Bec “Bookkeeping is more than just tracking finances; it’s making sure your business is running a profit!

Send us Fan MailThis week: getting personal with Rebecca Buchanan, owner of straight up bookkeeping – a virtual bookkeeping service which helps small businesses understand and track their sales, income and expenses to make better business decisions. If your side hustle has grown into a fully fledged business, or you’re just about to launch your business – you need to manage your finances. Bookkeeping is at the centre of that, and something Bec encourages all listeners to do. “Bookkeeping is more than just tracking finances; it’s making sure your business is running a profit! “Bookkeeping is more than just tracking finances; it’s making sure your business is running a profit! ”So, at what point financially does work crossover from a hobby/side hustle to a business? Tune in now to find out!If your side hustle has grown into a fully fledged business, or you’re just about to launch your business – you need to manage your finances. Bookkeeping is at the centre of that, and something Bec encourages all listeners to do. “Bookkeeping is more than just tracking finances; it’s making sure your business is running a profit!”So, at what point financially does work crossover from a hobby/side hustle to a business? Tune in now to find out! If you’re just starting out or have been in the industry for a long time, take a listen, check out the key takeaways and subscribe for future updates below.KEY TAKEAWAYS:BOOKKEEPING 101.As makeup artists, we hustle. Hard. Whether it’s doing casual work on weekends, outside our M-F jobs; early morning shoots, late night testing, we cram as much work and experience in as we can to build our skills and portfolio.In terms of bookkeeping, when you start to make a bit of money (over $18,500 to be exact) and are consistently booking clients and gigs you are running a business. Hey, it may be incidental (congrats btw!), but now you NEED to track your finances.Bec is a Xero enthusiast. Xero is a bookkeeping tool that links to your business bank account* and extracts all of your financial information into the system – to make it easy for you to see your P&L (profit and loss).If you only do one thing today – SET UP A BUSINESS BANK ACCOUNT NOW. Treat your business bank account with respect, with the end goal of making a profit. Plus, it will make it 1,000 times easier than having to sift through all your late night maccy d runs.As a Xero partner, you can contact Bec to activate a $10 monthly subscription. While this subscription doesn’t have all the bells and whistles, it provides the basic financial tracking you need for a business.BONUS TIP: You can access Hubdoc through your Xero account. It’s a digital “hub” that stores all of your documents/invoices and migrates the key data (transactional information) to your Xero account. Think of Hubdoc as your digital shoebox system for storing receipts, pretty nifty actually! “For the sake of $10 a month, I would use Xero. It saves you having to manually track all your expenses and profits on a spreadsheet (and having to remember where you saved it)”Bec BuchananThe Hair Edit Waitlist Follow TMI on IG Follow Vanessa on IGThe Makeup Insider Blog The Makeup Insider TikTok