BTB Episode 92: Bookkeeping and Accounting for Creatives

I’ve always been fascinated by small businesses. I’ve dabbled in them probably my whole life, starting with the typical lemonade stand. But I think it’s just fascinating to see the numbers behind businesses and get that insider view as to what’s really going on underneath the hood.

CPA, Amy Northard, the Accountant for Creatives, joins me today for a conversation about bookkeeping, accounting, and a few of the government programs, such as the Paycheck Protection Program and EIDL that have been rolled out in response to the pandemic. We don’t talk much about what the Paycheck Protection Program or EIDL is or how to apply, since I figured that a lot of people have already heard about these programs. We do however, chat about what businesses should be doing to give themselves the best chance for things, like the Paycheck Protection Program loan, to be forgiven.

Before we get started, a quick disclaimer: I am not an accountant and the information shared during this episode are for informational purposes only and not for the purposes of providing accounting advice. And while Amy is an accountant, she is not your account. You should contact your accountant to obtain advice with respect to any particular issue or problem.

Find it Quickly

• 3:15 – How Amy got started
• 7:08 – About Amy’s team
• 10:20 – The CARES Act and Payment Protection Program
• 13:50 – Determining payroll reports
• 17:03 – More about the EIDL
• 21:42 – Where new business owners should start in terms of taxes
• 24:18 – Recommended bookkeeping tips
• 27:13 – When to invest in an accountant
• 30:07 – Business bookkeeping errors
• 32:04 – Things to have ready for taxes

Resources

• TaxJar
• Gusto
• Quickbooks
• Intuit
• Xero
• Wave
• Bench

More about Amy

Amy Northard is the Accountant for Creatives®. She is a Certified Public Accountant (CPA) who specializes in working with creative small business owners to make taxes and bookkeeping less stressful. She has a passion for helping small business owners wade through all the financial things it takes to start and operate a business so they can focus on their craft. In addition to preparing tax returns and bookkeeping for clients all over the U.S., Amy enjoys teaching small business financial basics through her online course Be Your Own CFO.

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