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MONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1. (MONEY MATTERS) BUILDING TOMORROW’S BUSINESS TODAY - KASFIA RASHIDHello and congratulations on taking the first step in the journey of business ownership. If you're thinking of starting your own business you're in the right place. IBGR radio network is a central place for tools, resources and training that you are going to need to have a successful life long journey. Think of me as one of your many tour guides here.  My name is Kasfia Rashid but you can call me Kash. It is my job to prepare you to understand the language of business. Warren Buffett said that accounting is the language of business! So...2021-07-1914 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4. (MONEY MATTERS) THE FUTURE OF MONEY-OVERVIEW - KASFIA RASHID5/17/21 Make your own currency! Yes. You read that correctly. Today, we are going to talk about how to create your OWN CURRENCY! Did I hear someone say Kash Koin? Let's get into it.  5/24/21 How to plan your finances We talk to Financial Advisor and Life insurance expert, Crystal Suber of Crystal Clear financial solutions on how to set up a plan for the future of your money.  5/31/21 No more cash? "For some, cash is still something they use everyday. For younger generations, cash is becoming more and more obsolete.Everywhere you turn ri...2021-04-0914 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3. (MONEY MATTERS) THE FUTURE OF MONEY-OVERVIEW - KASFIA RASHID4/12/21 Creating multiple streams of income: How to easily create multiple streams of income in the new economy. As the world moves toward virtual businesses, stay at home entrepreneurs are on the raise. Unemployment is at all time highs and the traditional business world is crumbling. While the mere mention of a MLM strikes visions of door to door knife sales into people's heart, a new formate to an old concept is gaining traction. We’ll hear from Chris Meekins of CCMG on how he has set up and leverages his multiple streams of income to create generational wealth.  2021-04-0914 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2. (MONEY MATTERS) THE FUTURE OF MONEY-OVERVIEW - KASFIA RASHIDThis season we are bringing guests on to the broadcast for a live Q&A on the hottest topics in this new normal of business. We are going back to the basics- plot TWIST- the basics have changed! Join us each week as we dive deep into the murky waters of money. At the core of business is one simple understanding. You have something, someone wants that thing you have and is willing to exchange something they have to get it. "Money" started off as trading goods or services and now Money is a liquid asset used in the...2021-04-0914 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1. (MONEY MATTERS) THE FUTURE OF MONEY-OVERVIEW - KASFIA RASHIDI am SO excited about the next season of Money Matters! The pandemic has changed the way we live, the way we work, and how we interact with each other. The same holds true for finances. Driven by pandemic fever, historic unemployment and basic survival needs, people have flocked to the entrepreneurship world looking for the next big score. It is the gold rush all over again! This season we hear from small business owners around the business world on the future of money! Check out the full line up below and mark your calendars. 2021-04-0914 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1. ( MONEY MATTERS) WHAT WE LEARNED - KASFIA RASHID2021-04-0314 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2. ( MONEY MATTERS) WHAT WE LEARNED - KASFIA RASHID2021-04-0314 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3. ( MONEY MATTERS) WHAT WE LEARNED - KASFIA RASHID2021-04-0314 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4. ( MONEY MATTERS) WHAT WE LEARNED - KASFIA RASHIDQuirky Accounting Tale 2021-04-0314 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1. ( MONEY MATTERS) WHAT ARE SOME WAYS TO SAVE ON TAXES? - KASFIA RASHIDSpeaking of taxes, this is easily the number one question I get. Clients, friends, family, strangers on the street.. Everyone wants to know how they can save on their taxes!  Fine, let’s discuss.  Ok, wait, before we can really talk about saving on taxes, let’s chat about how we get to that “pie in the sky” number. Every country has different tax laws, forms, credits, and allowable deductions. I am not a tax expert in my own country, let alone the murky depths of international taxes ( shudder), so please...2021-03-2714 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2. ( MONEY MATTERS) WHAT ARE SOME WAYS TO SAVE ON TAXES? - KASFIA RASHIDTypes of Business Taxes There are a variety of taxes for business. Here is a quick rundown: Income taxes. There are federal and, in most cases, state income taxes to contend with, whether the business pays the tax (as in the case of a business organized as a C corporation) or the owner pays the tax on his or her share of business income and expenses (as in the case of a business organized as a sole proprietorship, partnership, limited liability company, or S corporation). 2021-03-2714 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3. ( MONEY MATTERS) WHAT ARE SOME WAYS TO SAVE ON TAXES? - KASFIA RASHIDSetting up books and records is the quickest and easiest way to track expenses and income for estimating taxes. This is easily done with computer-based recordkeeping solutions that enable you to handle this matter yourself, like QuickBooks Online. QBO,for short, can easily store required receipts for expenses, issue invoices for revenue and track inventory all in one place!  Maintain best practices for certain recordkeeping. For example, if you use your personal vehicle for business, you need to track your business mileage, QBO has that option as well.  Or, if you reimburse your employees fo...2021-03-2714 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4. ( MONEY MATTERS) WHAT ARE SOME WAYS TO SAVE ON TAXES? - KASFIA RASHIDWant some more examples? Sure thing!  You can take advantage of some standard tax rules that can save your business money.  Contribute to a retirement plan. If your business is profitable, you can shelter income in a qualified retirement plan that will provide you with a tax deduction for your contributions, defer tax on earnings on contributions (tax is ultimately paid when you start taking money from the plan, usually at retirement), if you have employees, you can gain employee loyalty for providing them with a retirement savings opportunity.  2021-03-2714 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1. (MONEY MATTERS)WHEN SHOULD I START HIRING EMPLOYEES? - KASFIA RASHIDHello! Welcome to Money Matters- Ask the bookkeeper series, the accounting show answering burning accounting questions! You know, the ones you would only ask your best bookkeeping buddy!  Each show will have one main question from the audience with supporting questions from my various travels. Have a question to ask? Don’t be shy, step right on up! You can submit your questions directly to Hello@kashthebookkeeper.com! You may hear your question aired live across the globe!  Somehow we are on week 11 and quickly coming to the end of o...2021-03-2014 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2. (MONEY MATTERS)WHEN SHOULD I START HIRING EMPLOYEES? - KASFIA RASHIDIt’s important that small businesses get the timing right when hiring new employees. If an employer hires someone too soon, profits can decline and cash flow can dry up. But if employers wait too long to bring on a new worker, your commitments can outpace your capacity, so unfinished work starts piling up. You should hire new employees when there’s enough work to demand additional help and your financial situation is stable enough to manage the additional cost of a new employee. You should also consider the hidden cost of hiring new employees, including health insurance coverage, trai...2021-03-2014 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3. (MONEY MATTERS)WHEN SHOULD I START HIRING EMPLOYEES? - KASFIA RASHIDDistinguishing between employees and independent contractors can impact your bottom line, as this affects how you withhold taxes and avoid costly legal consequences. Learn the differences before hiring your first employee. An independent contractor operates under a separate business name from your company and invoices for work completed. Independent contractors can sometimes qualify as employees in a legal sense. The Equal Employment Opportunity Commission created a guide for making the determination. If your contractor is discovered to meet the legal definition of employee, you may need to pay back...2021-03-2014 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4. (MONEY MATTERS)WHEN SHOULD I START HIRING EMPLOYEES? - KASFIA RASHIDAll set? Awesome! Now for the fun stuff! Let’s say you need someone to take over some admin work. You should: Calculate how many hours a week it takes to do this type of work (estimate the amount of hours per task and add ‘em up).Do you have tasks you want to do but don’t have time for?Think about whether you need temporary or permanent help. A specific project might require a temporary worker, but ongoing help will need someone more permanent. Before finding the ri...2021-03-2014 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1. (MONEY MATTERS) HOW DO I ACCOUNT FOR START UP COSTS? KASFIA RASHIDAccounting for startup costs is fairly straightforward. All startup costs are treated the same way for accounting. Keep as much detail in the accounting as possible! Break them down into sub categories or simply label them on your books and records with a “start up” tag.  Record business startup costs as they are incurred. Use checks and a paper trail where ever possible. This will make it much easier to determine which costs can be tax deductible right away and which need to be amortized over a number of years.  You...2021-03-1314 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2. (MONEY MATTERS) HOW DO I ACCOUNT FOR START UP COSTS? KASFIA RASHIDWhat are startup costs? Startup costs are the expenses you incur before your business begins active operations. The costs might be associated with opening a new business or facility, acquiring a business, introducing a new product or service, conducting a business in a new area, or starting a new process or operation in an existing facility. Startup costs are usually associated with one-time activities. Small business startup costs can sometimes overlap with fixed assets and inventory costs. Ask an accountant to help you properly organize your books. Examples of startup costs for...2021-03-1314 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3. (MONEY MATTERS) HOW DO I ACCOUNT FOR START UP COSTS? KASFIA RASHIDDeciding to start a business is exciting, but can also be daunting if you’re a new entrepreneur. Calculating business startup costs, worrying about long-term profitability, securing startup funding—it can all be pretty stressful. Still, the question “how much does it cost to start a business?” is critical because the initial investment can be significant.  Before you start or buy a business, you’ll likely go through a long process of analysis and research. The money you spend doing market research, figuring out your product, looking for an office spac...2021-03-1314 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4. (MONEY MATTERS) HOW DO I ACCOUNT FOR START UP COSTS? KASFIA RASHIDHello! Welcome to Money Matters- Ask the bookkeeper series, the accounting show answering burning accounting questions! You know, the ones you would only ask your best bookkeeping buddy!  Each show will have one main question from the audience with supporting questions from my various travels. Have a question to ask? Don’t be shy, step right on up! You can submit your questions directly to Hello@kashthebookkeeper.com! You may hear your question aired live across the globe!  We have answered questions all over the financial map, from cash recon...2021-03-1314 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1.(MONEY MATTERS) HOW DO I PRICE MY PRODUCT/SERVICE? - KASFIA RASHIDHello! Welcome to Money Matters- Ask the bookkeeper series, the accounting show answering burning accounting questions! You know, the ones you would only ask your best bookkeeping buddy!  Each show will have one main question from the audience with supporting questions from my various travels. Have a question to ask? Don’t be shy, step right on up! You can submit your questions directly to Hello@kashthebookkeeper.com! You may hear your question aired live across the globe!  Last week we started our discussion about creating products from our serv...2021-03-0614 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2.(MONEY MATTERS) HOW DO I PRICE MY PRODUCT/SERVICE? - KASFIA RASHIDProduct pricing is an essential element in determining the success of your product or service, yet eCommerce entrepreneurs and businesses often only consider pricing as an afterthought. They settle and use the first price that comes to mind, copy competitors, or (even worse) guess. Humans are irrational. Product pricing strategy is just as much an art form as it is a science.  There are lots of product-pricing strategies out there based on the study of human psychology. Ending your price with a 9 or a 5, for example, is called “Charm Pricing.” Millions of businesses have used...2021-03-0614 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3.(MONEY MATTERS) HOW DO I PRICE MY PRODUCT/SERVICE? - KASFIA RASHIDThousands of entrepreneurs and decades of learning have paved the way for new businesses to craft a strategy that utilizes the most innovative pricing options available. Knowing which pricing models work best in your industry can simplify how you price a product, and give you confidence knowing that you’re not simply guessing. COST-BASED PRICING- Traditional accounting method! One of the most simple ways to price your product is called cost-plus pricing.Cost-based pricing involves calculating the total costs it takes to make your product, then adding a percentage markup to d...2021-03-0615 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4.(MONEY MATTERS) HOW DO I PRICE MY PRODUCT/SERVICE? - KASFIA RASHIDThe above strategies work with any type of product or service but in the age of quarantine, the amount and access to digital products have skyrocketed- many of them being used as promotional or freebies! ( Mine are at the bottom of this page)  So how are you supposed to price a digital download profitably when so many people are selling them for single-digit prices -- or giving them away for free? There are several steps to picking the best price for your product, from calculating your expenses to determining the value that your customers s...2021-03-0614 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1. (MONEY MATTERS) HOW DO I TURN MY SERVICE BASED COMPANY INTO A PRODUCT? - KASFIA RASHIDHello! Welcome to Money Matters- Ask the bookkeeper series, the accounting show answering burning accounting questions! You know, the ones you would only ask your best bookkeeping buddy!  Welcome to show eight! Each show will have one main question from the audience with supporting questions from my various travels. Have a question to ask? Don’t be shy, step right on up! You can submit your questions directly to Hello@kashthebookkeeper.com! You may hear your question aired live across the globe!  We have covered questions on each part of t...2021-02-2714 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2. (MONEY MATTERS) HOW DO I TURN MY SERVICE BASED COMPANY INTO A PRODUCT? - KASFIA RASHIDBeing an Entrepreneur can be a lucrative career with the right skills, marketing, and branding. Many freelance professionals earn six figure incomes and together with the benefits of working for yourself, a freelance lifestyle is not one to complain about. One potential drawback is, your income is highly dependent on time. When you’re not working, you’re not earning. On average a typical business owner works upwards of 65 hours a week, a third of which is spent actually doing the work they are passionate about. The rest of the time is spent running the...2021-02-2714 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3. (MONEY MATTERS) HOW DO I TURN MY SERVICE BASED COMPANY INTO A PRODUCT? - KASFIA RASHIDDepending on your industry there are so many choices when it comes to product creation. This is also the age of technology which makes product creation or outsourcing of that creation far easier and less expensive. Below is a short list of products to consider, add your own twist to them! Courses: As an expert in your field you have the skills to teach other people. You can do this by creating courses and tutorials covering topics your target market is desperate to learn about. Courses can be small or large. They can cost...2021-02-2714 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4. (MONEY MATTERS) HOW DO I TURN MY SERVICE BASED COMPANY INTO A PRODUCT? - KASFIA RASHIDCreating something is easy, creating something that sells is the goal. It hardly matters how many products we have, if no one wants them or can use them, but thankfully, we aren’t starting from scratch. If you are already able to provide services, that means you have SOMETHING that SOMEONE is willing to pay for. In a service industry, that SOMETHING is usually a goal with the SOMEONE simply wanting to achieve that goal. How they get to their goal and what they use is where we come in.   The Someone: List all of the customers you...2021-02-2714 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4. (MONEY MATTERS) HOW DO I TRACK PERSONAL EXPENSES? - KASFIA RASHIDThe simplest thing to do is to keep your personal and business records separate. However, if you follow these simple steps you should be able to create a combined financial statement that reflects both your personal and business records on one sheet of paper!  *NOTE* I am not a CPA and these records should be for internal purposes only.  Ok, now thats out of the way….  Keep all business and personal transactions separate by bank or credit card account. I have said this before and I will say it again. If you a...2021-02-2014 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3. (MONEY MATTERS) HOW DO I TRACK PERSONAL EXPENSES? - KASFIA RASHIDThe term personal financial statement refers to a document or spreadsheet that outlines an individual's financial position at a given point in time. The statement typically includes general information about the individual, such as name and address, along with a breakdown of total assets and liabilities. Assets include the value of securities and funds held in checking or savings accounts, retirement account balances, trading accounts, and real estate. Liabilities include any debts the individual may have including personal loans, credit cards, student loans, unpaid taxes, and mortgages. Debts that are jointly owned are also...2021-02-2014 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2. (MONEY MATTERS) HOW DO I TRACK PERSONAL EXPENSES? - KASFIA RASHIDFinancial statements can be prepared for either companies or individuals. An individual’s financial statement is referred to as a personal financial statement and is a simpler version of corporate statements. Both are tools that can show the financial health of the subject. Keeping an updated personal financial statement allows an individual to track how their financial health improves or deteriorates over time. These can be invaluable tools when consumers want to change their financial situation or apply for credit such as a loan or a mortgage. Knowing where they stand financially allows consumers to...2021-02-2014 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1. (MONEY MATTERS) HOW DO I TRACK PERSONAL EXPENSES? - KASFIA RASHIDHello! Welcome to Money Matters- Ask the bookkeeper series, the accounting show answering burning accounting questions! You know, the ones you would only ask your best bookkeeping buddy!  Each show will have one main question from the audience with supporting questions from my various travels. Have a question to ask? Don’t be shy, step right on up! You can submit your questions directly to Hello@kashthebookkeeper.com! You may hear your question aired live across the globe!  We have discussed Assets and Liabilities questions and today we move forw...2021-02-2014 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4. (MONEY MATTERS) HOW DO I PAY MYSELF? - KASFIA RASHIDBut, Kash, this is all very complex, can’t you give me some easy to follow steps to calculate this?  Well…………… okie.. Since you asked so nicely!  I use this method in my personal life.  For each $100 in sales : $30 should be set aside for taxes/savings right off the top.                                             $35 -$50 should be used to run the business/ reinvest                                            $20 to the owner                                   Articles : Salary vs. draw: How to pay yourself as a business owner | QuickBooks  Mike Michalowicz's Profit First  Additional Resources  Chec...2021-02-1314 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3. (MONEY MATTERS) HOW DO I PAY MYSELF? - KASFIA RASHIDGrab that paper and pen ladies and gents, it’s list making time! Calculating your starting salary or owner’s draw can be a daunting task. You need to fully know and understand your numbers ( personal ) and your business’ numbers before making this decision. Keeping in mind, you can change it!  One of my favorite ways to answer this question is to utilize the ‘Profit first” method. If you have never heard of the book, check it out here: While the book has multiple charts, figures and graphs to build a pro...2021-02-1314 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2. (MONEY MATTERS) HOW DO I PAY MYSELF? - KASFIA RASHIDOnce you have a profit in your business ( more money coming in than going out) you have two options : 1. Take it out of the business through a paycheck or a draw or 2. Reinvest it in the business.  Maybe you’ve made the decision between a salary and a draw, but now you’re not sure how much you should be taking out of the business for yourself. As mentioned earlier, this isn’t “a one answer fits all type of situation” Data from Payscale shows that the average bus...2021-02-1314 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1. (MONEY MATTERS) HOW DO I PAY MYSELF? - KASFIA RASHIDWe have discussed Assets and Liabilities questions and today we move forward with Owner’s Equity! Owners’ equity rounds out one of the basic equations of accounting: Assets = Liabilities + Owners Equity.  We can rearrange this equation to say:  Assets- Liabilities = Owners Equity.  Catch up on the concept from last season’s podcast here: https://pod.co/money-matters-with-kash-the-bookkeeper/1-money-matters-owners-equity-you-are-worth-it-kasfia-rashid Today’s question is at the forefront of every business owner’s mind : How do I pay myself? The sassy bookkeeper answer is : “With a check” hahahaha...2021-02-1315 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4. (MONEY MATTERS) HOW TO PUT A DEBT SCHEDULE TOGETHER - KASFIA RASHIDArticles : https://corporatefinanceinstitute.com/resources/knowledge/modeling/debt-schedule/  https://www.fastcapital360.com/blog/business-debt-schedule/  https://exitpromise.com/business-debt-schedule/  2021-02-0614 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3. (MONEY MATTERS) HOW TO PUT A DEBT SCHEDULE TOGETHER - KASFIA RASHIDHow to Make a Business Debt Schedule As you build your business debt schedule, there are a few essential categories you will need to include. Adding the details of each debt gives a fuller picture of the commitments in your business allowing you to plan more efficiently. The creditor or lenderOriginal dateOriginal amountCurrent balanceInterest rateMonthly paymentMaturity date (due date)Collateral posted IF this schedule is used almost exclusively for internal purposes, feel free to include notes about each debt, their function and any other information that...2021-02-0614 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2. (MONEY MATTERS) HOW TO PUT A DEBT SCHEDULE TOGETHER - KASFIA RASHIDWhat Is a Business Debt Schedule? A debt schedule is a list of everyone that a business owes money, goods, or services to, how much is owed, when it should be paid and how much. A business debt schedule can be created for any of the following categories: LeasesLoansContractsAccounts payableOther periodic payables While very common, business expenses such as short-term accounts payable and accumulated liabilities are not typically listed in a schedule for external purposes, it should be included for internal forecasting purposes. 2021-02-0614 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1. (MONEY MATTERS) HOW TO PUT A DEBT SCHEDULE TOGETHER - KASFIA RASHIDBefore we can create a debt schedule for our business, we need to understand what it is and how to construct it. Simply put : “A business debt schedule is a table that lists your debts—such as leases, loans and contracts—according to order of maturity.” That’s it. Nothing too scary, right? Maintaining a debt schedule allows you to make more informed decisions about how to plan for and execute business growth, payment strategies and handle any other unexpected costs. You can think of it as a miniature budget!  There are several benefits of creating...2021-02-0615 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4. (MONEY MATTERS) HOW TO BUILD BUSINESS CREDIT - KASFIA RASHIDCited Articles : https://www.sba.gov/blog/how-establish-business-credit-first-time#:~:text=Business%20credit%20allows%20a%20company,to%20purchase%20products%20or%20services. https://www.sba.gov/blog/how-build-business-credit-quickly-5-simple-steps https://www.dnb.com/duns-number.html  Additional Resources  Check out Kash’s Youtube Playlist: Bookkeeping basics for small business owners. Get this affordable guide to reconciling any account quickly and accurately! Click here: https://kashthebookkeeper.com/paid-resources/ and scroll down to Reconcile any business or personal account in 4 easy steps!! On Sale now! Want more KASH? Sign up for...2021-02-0614 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3. (MONEY MATTERS) HOW TO BUILD BUSINESS CREDIT - KASFIA RASHIDSo how can you get started? Good question. Since the SBA has been so helpful, let’s see what they recommend! In their blog they supply five simple steps to building business credit quickly!2  File for a business structure such as an LLC, LLP or Corporation. If you are a sole proprietor- your business is not a separate entity and can not build credit. Once your company is a separate entity- be sure to keep your business and personal finances separate! Now that your business is a separate entity, you can file for a EI...2021-02-0615 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2. (MONEY MATTERS) HOW TO BUILD BUSINESS CREDIT - KASFIA RASHIDBusiness credit lets a company borrow money that can be used to purchase assets to increase revenue, pay for large expenses such as payroll, and control their overall cash flow. For business owners, having a separate legal entity, such as a corporation or limited liability company, provides the unique ability to create a business credit profile, which is then used by credit grantors to determine if they should lend that business credit or not.  There are several different types of business credit, not just credit cards! According to the Small Business Association1 there are a...2021-02-0614 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1. (MONEY MATTERS) HOW TO BUILD BUSINESS CREDIT - KASFIA RASHIDBuilding business credit is similar to building personal credit. In its simplest form, it is exchanging trust and confidence for money. In the financial industry we translate trust and confidence into numbers, a lot of numbers. Credit scores, Ratios, and Interest Rates to name a few . Building trust and confidence in the business world becomes pivotal to growth, scalability and can result in increased selling price of  your business- aka, goodwill! Having ready and able access to cash reserves and credit can mean the difference between a strong, thriving business and one that remains stagnant. 2021-02-0614 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4. (MONEY MATTERS) WHAT IS DEPRECIATION? - KASFIA RASHIDQuirky Accounting Tale Time! 2021-01-2314 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3. (MONEY MATTERS) WHAT IS DEPRECIATION? - KASFIA RASHIDWhat You Need to Do​​ - The How Let’s stripe down the mechanics of depreciation into simple steps. After purchasing something for your business: Determine if a purchase should be classified as an asset or as an expense. Once it has been determined it should be an asset…. Write down when it was purchased, the cost of the purchase ( how much money actually left the bank account), what was purchased, and why. Use the handy tax tables to determine the various amounts of depreciation you are able to claim o...2021-01-2314 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2. (MONEY MATTERS) WHAT IS DEPRECIATION? - KASFIA RASHIDWhat You Need to Know - The What Depreciation can get complicated when you start involving numbers, so it is easier to focus on the big picture instead of getting bogged down in the technicalities.  Here is the big picture: The result of all those complex depreciation calculations is that the government will pay for a portion of the cost of the assets you acquire to use in your business. That payment comes to you through a reduction in the taxes you pay over one or more years after you p...2021-01-2314 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1. (MONEY MATTERS) WHAT IS DEPRECIATION? - KASFIA RASHIDShow Objectives - The Why Have you ever purchased a new car or know anyone who has? Personal finance gurus advise buying a late model used car over a new car due to first-year depreciation. According to carsdirect.com A new car depreciates or loses value almost immediately after you drive it off a dealer's lot. As a quick rule of thumb, a car will lose between 15% and 20% of its value each year according to Bankrate.com. This phenomenon is not limited to cars, but applies to every business asset...2021-01-2314 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4. (MONEY MATTERS) WHAT IS A CASH RECONCILIATION AND WHY IS IT NEEDED? - KASFIA RASHIDCheck out Kash’s Youtube Playlist: Bookkeeping basics for small business owners. Get this affordable guide to reconciling any account quickly and accurately! Click here: https://kashthebookkeeper.com/paid-resources/ and scroll down to Reconcile any business or personal account in 4 easy steps!! On Sale now! Want more KASH? Sign up for the free newsletter!  2021-01-1214 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3. (MONEY MATTERS) WHAT IS A CASH RECONCILIATION AND WHY IS IT NEEDED? - KASFIA RASHIDBank Reconciliation Procedure You do not need to have an accounting software to complete a bank reconciliation, but it does make things a bit easier. Grab a pen  pencil and paper and let’s get started.  Gather up your documents: If you are using an online banking system, this step should be simple. Log on to your bank's website and download the last month's statement. If not, grab your paper statement from the mail. Also works with: Credit card statements PayPal statements/ Square statements Any other third partyCheck your beginning balances : Wheth...2021-01-1214 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2. (MONEY MATTERS) WHAT IS A CASH RECONCILIATION AND WHY IS IT NEEDED? - KASFIA RASHIDWhat is a Bank Reconciliation?: Simply put: it's "balancing your checkbook"! By comparing the balance in your bank to what your accounting system thinks is the balance, you increase your chances of catching fraud, decrease the chances of missing expenses, and ensure you always have money in the bank to cover expenses. A bank reconciliation should be completed each month for all bank accounts, credit cards, loans, and third party accounts paypal/square/etc.Completing a bank reconciliation is the first basic implementation of an accounting process In accounting, a company's cash...2021-01-1214 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1. (MONEY MATTERS) WHAT IS A CASH RECONCILIATION AND WHY IS IT NEEDED? - KASFIA RASHIDThis week’s main question is: What is a Cash Reconciliation and why is it important? As you may remember from last season the Cash portion of the business is an Asset shown on the Balance Sheet. It is the total amount of liquid ( hard dollars and cents) currency available in all accounts. “Reconciliation” is just a thousand dollar word for “check for mistakes”. Ultimately, a cash reconciliation is the same as balancing your checkbook. 2021-01-1214 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2. (MONEY MATTERS) ASK THE BOOKKEEPER-OVERVIEWHello and congratulations on taking the first step in the journey of business ownership. If you're thinking of starting your own business you're in the right place. IBGR radio network is a central place for tools, resources and training that you are going to need to have a successful life long journey. Think of me as one of your many tour guides here.  My name is Kasfia Rashid but you can call me Kash. It is my job to  prepare you to understand the language of business. Warren Buffett, said that accounting is the language of business! So...2021-01-0914 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1. (MONEY MATTERS) ASK THE BOOKKEEPER-OVERVIEWHello and congratulations on taking the first step in the journey of business ownership. If you're thinking of starting your own business you're in the right place. IBGR radio network is a central place for tools, resources and training that you are going to need to have a successful life long journey. Think of me as one of your many tour guides here.  My name is Kasfia Rashid but you can call me Kash. It is my job to prepare you to understand the language of business. Warren Buffett, said that accounting is the language of business! So...2021-01-0915 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1. (MONEY MATTERS) SUMMARY OF SEASON 3 - KASFIA RASHID2021-01-0414 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2. (MONEY MATTERS) SUMMARY OF SEASON 3 - KASFIA RASHID2021-01-0414 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3. (MONEY MATTERS) SUMMARY OF SEASON 3 - KASFIA RASHID2021-01-0414 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4. (MONEY MATTERS) SUMMARY OF SEASON 3 - KASFIA RASHID2021-01-0414 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4. (MONEY MATTERS) THE IMPORTANCE OF BOOKKEEPING - KASFIA RASHID2020-12-2914 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3. (MONEY MATTERS) THE IMPORTANCE OF BOOKKEEPING - KASFIA RASHID2020-12-2914 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2. (MONEY MATTERS) THE IMPORTANCE OF BOOKKEEPING - KASFIA RASHID2020-12-2915 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1. (MONEY MATTERS) THE IMPORTANCE OF BOOKKEEPING - KASFIA RASHID2020-12-2914 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4. (MONEY MATTERS) PNL: THE BIRTH OF A TAX RETURN - KASFIA RASHID2020-12-2114 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3. (MONEY MATTERS) PNL: THE BIRTH OF A TAX RETURN - KASFIA RASHID2020-12-2114 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2. (MONEY MATTERS) PNL: THE BIRTH OF A TAX RETURN - KASFIA RASHID2020-12-2114 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1. (MONEY MATTERS) PNL: THE BIRTH OF A TAX RETURN - KASFIA RASHID2020-12-2114 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4. (MONEY MATTERS) EXPENSES: ANCHOR OR SUBMARINE - KASFIA RASHID2020-12-1414 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3. (MONEY MATTERS) EXPENSES: ANCHOR OR SUBMARINE - KASFIA RASHID2020-12-1414 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2. (MONEY MATTERS) EXPENSES: ANCHOR OR SUBMARINE - KASFIA RASHID2020-12-1414 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1. (MONEY MATTERS) EXPENSES: ANCHOR OR SUBMARINE - KASFIA RASHID2020-12-1414 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4. (MONEY MATTERS) EXPENSES: THE REAL COST OF BUSINESS - KASFIA RASHID2020-12-0714 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3. (MONEY MATTERS) EXPENSES: THE REAL COST OF BUSINESS - KASFIA RASHID2020-12-0714 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2. (MONEY MATTERS) EXPENSES: THE REAL COST OF BUSINESS - KASFIA RASHID2020-12-0714 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1. (MONEY MATTERS) EXPENSES: THE REAL COST OF BUSINESS - KASFIA RASHID2020-12-0714 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4. (MONEY MATTERS) REVENUE: ALL THAT GLITTERS IS GOLD, RIGHT? - KASFIA RASHID2020-11-2414 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3. (MONEY MATTERS) REVENUE: ALL THAT GLITTERS IS GOLD, RIGHT? - KASFIA RASHID2020-11-2414 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2. (MONEY MATTERS) REVENUE: ALL THAT GLITTERS IS GOLD, RIGHT? - KASFIA RASHID2020-11-2414 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1. (MONEY MATTERS) REVENUE: ALL THAT GLITTERS IS GOLD, RIGHT? - KASFIA RASHID2020-11-2414 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4.(MONEY MATTERS) THE ACCOUNTING BALANCING ACT- AKA THE BALANCE SHEET - KASFIA RASHID2020-11-1815 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3.(MONEY MATTERS) THE ACCOUNTING BALANCING ACT- AKA THE BALANCE SHEET - KASFIA RASHID2020-11-1814 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2.(MONEY MATTERS) THE ACCOUNTING BALANCING ACT- AKA THE BALANCE SHEET - KASFIA RASHID2020-11-1814 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1.(MONEY MATTERS) THE ACCOUNTING BALANCING ACT- AKA THE BALANCE SHEET - KASFIA RASHID2020-11-1814 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4.(MONEY MATTERS) OWNER’S EQUITY- YOU ARE WORTH IT! - KASFIA RASHID2020-11-1215 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3.MONEY MATTERS) OWNER’S EQUITY- YOU ARE WORTH IT! - KASFIA RASHID2020-11-1214 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2.(MONEY MATTERS) OWNER’S EQUITY- YOU ARE WORTH IT! - KASFIA RASHID2020-11-1214 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1.MONEY MATTERS) OWNER’S EQUITY- YOU ARE WORTH IT! - KASFIA RASHID2020-11-1215 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4.(MONEY MATTERS) LIABILITIES: TAMING THE DEBT MONSTER - KASFIA RASHID2020-11-0714 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3.(MONEY MATTERS) LIABILITIES: TAMING THE DEBT MONSTER - KASFIA RASHID2020-11-0715 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2.(MONEY MATTERS) LIABILITIES: TAMING THE DEBT MONSTER - KASFIA RASHID2020-11-0714 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1.(MONEY MATTERS) LIABILITIES: TAMING THE DEBT MONSTER - KASFIA RASHID2020-11-0714 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4.(MONEY MATTERS) LIABILITIES: THE UNTOLD STORY OF DEBT - KASFIA RASHID2020-10-3114 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3.(MONEY MATTERS) LIABILITIES: THE UNTOLD STORY OF DEBT - KASFIA RASHID2020-10-3115 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2.(MONEY MATTERS) LIABILITIES: THE UNTOLD STORY OF DEBT - KASFIA RASHID2020-10-3114 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1.(MONEY MATTERS) LIABILITIES: THE UNTOLD STORY OF DEBT - KASFIA RASHID2020-10-3114 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4.(MONEY MATTERS) ASSETS: WORK WHAT YOU GOT - KASFIA RASHID2020-10-2815 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER3.(MONEY MATTERS) ASSETS: WORK WHAT YOU GOT - KASFIA RASHID2020-10-2814 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER2.(MONEY MATTERS) ASSETS: WORK WHAT YOU GOT - KASFIA RASHID2020-10-2814 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER1.(MONEY MATTERS) ASSETS: WORK WHAT YOU GOT - KASFIA RASHID2020-10-2814 minMONEY MATTERS WITH KASH THE BOOKKEEPERMONEY MATTERS WITH KASH THE BOOKKEEPER4.(MONEY MATTERS) ASSETS: WHAT ARE THEY GOOD FOR ANYWAY? -KASFIA RASHID2020-10-1514 min