1. Cash
If you're going to keep cash around in your business, reconcile it.
Spending cash on business expenses can be convenient, but make sure you are recording those expenses somewhere. You or your bookkeeper can enter them into QuickBooks and make sure you're capturing those deductible business expenditures.
To make sure you're not missing anything, reconcile your cash balance each month, just like your banks. If you're missing something, whether it is a sale or expense, you'll catch it there.
2. Connections
I attended my first Spark Louisville event, hosted by Todd Earwood, Friday morning.
The event is not a typical networking event, but an event focused on advancing our city. Local leaders discuss things like best experiences for newcomers, how people can find jobs, and what our city's best wins are.
Events like these are important, not only for attracting newcomers, but also for keeping our existing talent.
I will link Todd's LinkedIn here: https://www.linkedin.com/in/toddearwood/
3. Counsel
We met with our tax preparer last week (no, we don't do our own taxes, or anyone's taxes for that matter) and had a great conversation.
His insights on accounting, financial management, and strategic guidance were all invaluable. Even though we are in QuickBooks every day, there is always something new to learn.
Meeting with mentors, coaches, and educators on a regular basis can unlock new insights and new ways to think. Even if you think you already know it all!
Until next week
