PLS Balance My Books: BLOG

Let’s talk about something that doesn’t get nearly enough credit in the world of small business: the Chart of Accounts (COA). It might not be flashy, but if your financial system were a house, the chart of accounts would be the framing. You won’t see it once the drywall’s up—but if it’s wrong, everything starts to wobble. A well-designed COA helps you understand what’s actually happening in your business. What Is a Chart of Accounts, Anyway? Think of it as a financial filing cabinet. It’s a structured list of all the categories your business uses to track money coming in and going out: revenue, expenses, assets, liabilities, equity—the works. Every transaction gets filed under one of these accounts. But here’s the thing: not all filing systems are created equal . Why a Well-Designed Chart of Accounts Matters 1. It Gives You Clean, Actionable Data A good COA organizes your finances in a way that makes sense for your business. It separates what you need to know from what’s jus...

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...