PLS Balance My Books: BLOG

Let’s be honest—most small business owners didn’t start their companies because they just love bookkeeping. You're passionate about your products or services, serving customers, and growing your business—not spending hours reconciling transactions and decoding financial reports. But here's the thing: when your bookkeeping is a mess, your business feels messy. Cash flow gets murky. Tax time becomes a nightmare. And decisions get made based on guesswork instead of data. If this sounds familiar, you’re not alone—and the good news is that it doesn’t have to be this way. In this post, we’ll break down why bookkeeping gets so overwhelming for small business owners, how to get out of the weeds, and what systems you can put in place to finally feel on top of your numbers instead of buried by them. Why Small Business Bookkeeping Often Goes Off the Rails First, let’s acknowledge a truth: bookkeeping isn’t just about recording transactions. It’s about organizing chaos in a way th...

Running a spa or salon isn’t just about creating the perfect blowout, rejuvenating facials, or Instagram-worthy nail art. Behind the scenes, there’s a whole world of numbers, receipts, and reports that—let’s be honest—aren’t nearly as glamorous. But they are just as important. At PLS Balance My Books , we specialize in bringing financial clarity to small businesses—and yes, that includes the beauty world. Whether you're a solo esthetician, a boutique nail studio, or a bustling full-service spa, clean books can make or break your business. Here’s why professional bookkeeping is a must-have service in your industry. The Beauty Industry’s Hidden Complexity You’re juggling walk-ins, appointments, inventory, commissions, booth rentals, product sales, and maybe even tips. That's a lot of moving parts. And each one touches your books in a different way. For example: Product sales vs. service income must be tracked separately for accurate reporting and tax purposes. Commissi...

There’s a lightbulb 💡 moment every savvy business owner hits eventually — the day they realize their books might be “technically correct” but functionally useless . Today, let’s talk about that moment. Specifically, the realization that while your CPA is great at preparing your tax return, they might not be the right person to manage your day-to-day financials. Here's why having a professional bookkeeper (and not just your CPA) in your corner is essential to actually running your business. The Tax Return Trap Let’s start with what a CPA does best: taxes. Certified Public Accountants are focused on making sure your business complies with tax law and pays no more than it legally has to. That’s their job — and they’re excellent at it. But their focus is narrow by design. CPAs often view your financial data through the lens of the IRS, not your operations. So when a CPA codes your transactions, it’s with one goal in mind: to plug them into the right lines of a tax return. Here’s the t...

  Running a small business is kind of like juggling flaming swords while riding a unicycle — on a tightrope — during a windstorm. With that kind of chaos, it’s understandable that bookkeeping might fall to the bottom of your to-do list. Maybe you’re using a spreadsheet “for now,” or maybe you’re letting your bank balance be your profit indicator (yikes). We get it. You’ve got products to ship, clients to chase, and fires to put out. But here’s the blunt truth: Winging it with your books is a fast-track to financial headaches, IRS letters, and missed growth opportunities. Let’s talk about why. 1. Guessing Isn’t a Strategy If your version of financial reporting is checking your bank app and saying, “Looks like we’re good,” you’re flying blind. Without up-to-date and accurate records, you can’t: See what’s actually making you money Track overdue invoices Budget effectively Identify sneaky cash leaks It’s like driving a car with no dashboard. You might get wher...

When you're running a business—especially a small one—it's natural to keep a close eye on every dollar spent. Bookkeeping often seems like a simple, behind-the-scenes task, so it’s tempting to go for the cheapest option available. But when it comes to your finances, cutting corners can cost you much more in the long run. What Are Realistic Bookkeeping Fees? Bookkeeping fees vary depending on the size and complexity of your business, your location, and whether you're hiring a freelancer, an in-house bookkeeper, or an outsourced firm. That said, here are some typical price ranges: Freelance or Contract Bookkeeper: $30–$70 per hour Bookkeeping Firm: $300–$2,000+ per month, depending on services and volume In-House Bookkeeper: $40,000–$60,000+ per year, plus benefits For a small business with moderate activity, you can expect to pay $400–$1000 per month for competent, outsourced bookkeeping. If your business is more complex—multiple revenue streams, inventory, emp...

Running a small business is a thrilling journey. Every sale, new client, and achievement fuels your passion and drive. But behind every thriving small business lies a strong financial foundation — and that foundation starts with bookkeeping. At PLS Balance My Books, we specialize in helping small businesses stay financially healthy and organized. Whether you’re a solo entrepreneur, a growing startup, or a family-owned business, effective bookkeeping isn’t just about crunching numbers — it’s about empowering you to make smarter decisions, plan for the future, and sleep better at night. In today’s post, we’ll explore why bookkeeping matters, the hidden risks of DIY bookkeeping, and how partnering with a professional can help your business not only survive but thrive. What is Bookkeeping, Really? Bookkeeping is the process of recording and organizing all financial transactions for your business. Every invoice sent, payment received, expense made, or tax filed needs to be accurately t...

Let’s be real—bookkeeping isn’t exactly the most exciting part of running a business. But keeping your finances in order is crucial if you want your business to thrive. Unfortunately, it’s super easy to slip up when you’re juggling a million things. Here are four common bookkeeping mistakes that a lot of business owners make—and how to steer clear of them. 1. Forgetting to Track Your Expenses It happens. You're running around, buying supplies here, grabbing lunch for a client there—and before you know it, your budget's all over the place. Not keeping tabs on your spending can lead to overspending and a totally inaccurate view of your finances. Quick Fix: Start tracking everything, even the little stuff. Use bookkeeping software or even a simple spreadsheet if you prefer. The goal is to get into the habit of recording expenses consistently so you’re never guessing where your money went. 2. Waiting Too Long to Record Income Got paid? Great! But if you forget to jot it down ...