Today’s Theme: Essential Accounting Practices for Entrepreneurs
Step into a confident founder’s mindset with practical, plain-English accounting habits that fuel smart decisions, protect cash, and impress investors. Chosen theme: Essential Accounting Practices for Entrepreneurs. Subscribe, ask questions, and share your wins so we can keep building together.
Build a Rock-Solid Chart of Accounts
Group revenue streams separately, split cost of goods sold from operating expenses, and create clear buckets for marketing, payroll, and software. A tailored structure reveals where profit truly appears and which activities quietly drain resources.
Build a Rock-Solid Chart of Accounts
Cash basis is simple for taxes and micro-operations, while accrual delivers clearer performance, investor-friendly metrics, and accurate revenue recognition. Choose deliberately, document the rationale, and keep it consistent to maintain clean comparability over time.
Spend five minutes, five days a week reconciling bank feeds, tagging transactions, and capturing receipts. This micro-routine reduces stress, prevents forgotten spend, and speeds reporting. Share your routine in the comments so others can borrow your best moves.
Track weekly starting cash, expected inflows, and committed outflows. Update with actuals, reforecast frequently, and highlight variances. A living forecast reveals burn in real time. Want our template? Subscribe and request it in a quick reply.
Forecast Cash Like Your Company Depends On It
Stay Ahead on Taxes and Compliance
Quarterly estimated taxes without panic
Estimate profits, set aside a percentage each month, and calendar filing deadlines. Use safe harbor rules where applicable and automate transfers. Future you will thank present you for making taxes boring, timely, and pain-free.
Sales tax and economic nexus basics
Track where you cross thresholds for transactions or revenue, register early, and collect correctly. A founder who ignored nexus got hit with penalties that wiped a marketing sprint. Start clean, document rates, and review quarterly to stay compliant.
Contractor paperwork and payroll precision
Collect W-9s from contractors, file 1099-NEC on time, and classify roles correctly. For employees, use payroll systems that handle withholdings and filings. Clean compliance builds trust with your team and credibility with investors and partners.
Measure What Matters: Practical KPIs for Founders
View them monthly, compare to plan, and annotate big swings. Set acceptable bands to detect drift early. A simple, shared view aligns conversations across finance, sales, and product without drowning everyone in unnecessary spreadsheet tabs.
Measure What Matters: Practical KPIs for Founders
Calculate CAC, LTV, and payback, then pressure-test pricing and discount policies. When one team raised prices modestly and tightened discount approvals, payback improved dramatically, unlocking sustainable growth without outsized ad spend.
Choose a Right-Size Accounting Tech Stack
Select cloud accounting that fits your stage
Evaluate features like bank feeds, multi-entity, inventory, and multi-currency. Pilot with sample data before committing. Right-size your solution so it scales without overwhelming the team or forcing an early, expensive migration.
