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Rose Gold Bookkeeping, LLC

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Winston-Salem, NC
Rose Gold Bookkeeping, LLC

Rose Gold Bookkeeping helps small business owners understand their finances so that they can make the best decisions for their business.

Does this sound familiar? You know that you should be tracking your income and expenses for your business and maybe you even have a QuickBooks or Wave account. But it has been months since you actually looked there. Maybe its fear of math or maybe it's just the lack of dopamine, either way it's been a while and now you're in the vicious cycle of task avoidance and shame/guilt for not completing th

e task. Let me help you out of that cycle. I help my clients get caught up on their bookkeeping, know where their business stands financial and then help them stay caught up each month.

04/25/2023

Never make a claim to a logical and analytical neurodivergent kid if it isn't 💯 % true. Poking holes in your statements is their goal in life and every opportunity to do so only makes them stronger. Neurodiversity Podcast

03/31/2023

When you’re work laptop apparently shut completely down overnight and you didn’t realize it. Yeah no panic at all when my laptop seemed like it wouldn’t turn on this morning.

Thankfully it seems to be fine.

03/02/2023

Deadlines can be great for those of us with ADHD because that extra urgency can help us complete the task or project. However, we're not always good at identifying how long bigger projects can take and we may end up going past the deadline. I know I'm trying to be more aware of deadlines and how long I realistically need to complete the project. With that in mind, one big deadline for most of us is the tax deadline of April 18th this year. If your financial statements aren't ready for your tax preparer yet, this is your reminder to start getting it ready now. Personally I'm only taking on one more client that needs there books ready for April and I will only take them until March 15th. If you'd like to work with me message me here or schedule a free consultation here https://calendly.com/katiergb/consultation.

01/26/2023

This is Jane and Linda

Both of them are small business owners. And both of them are equally smart, driven, and passionate.

Honestly, there’s only one key difference between them:

𝘏𝘰𝘸 𝘵𝘩𝘦𝘺 𝘴𝘱𝘦𝘯𝘥 𝘵𝘩𝘦𝘪𝘳 𝘸𝘦𝘦𝘬𝘦𝘯𝘥𝘴.

For example, here’s how Jim spent his last weekend:

😓 On Friday night, Jane got an angry email from a vendor – a large (and forgotten) invoice was now 3 months past due

😖 So Jane spent all of Saturday moving money around to pay it, and sending a batch of reminder emails to her (long) list of past-due clients

😬 Then, on Sunday, she remembered a tax deadline she’d missed (!) and spent all day catching up her outdated finances to (hopefully) get the info she needed to file

… Wanna know how Lydia spent her weekend?

🚴‍♀️ After leaving work at 6pm on Friday, she enjoyed a short ride on her favorite bike trail

💅 On Saturday, she scheduled a manicure with her oldest daughter

🍽️ And on Sunday, she went out with her family for lunch at their favorite restaurant

𝗦𝗼 … 𝘄𝗵𝗮𝘁’𝘀 𝗟𝘆𝗱𝗶𝗮’𝘀 𝘀𝗲𝗰𝗿𝗲𝘁 𝘀𝗮𝘂𝗰𝗲?

A few months back, she hired a bookkeeper 🤓 And now:

🧘🏻‍♀️ Her bookkeeper organizes her finances and sends her plain-English financial reports every month

✌️ Her bookkeeper makes sure all her vendors are paid on time and keeps on top of the late-paying customers

😇 And gives Lydia plenty of notice before important tax deadlines – even helping her put together the info she needs to file

Long story short?

Lydia’s bookkeeper gave her her weekends back ❤️

Now – what about you?

Do your weekends look more free and relaxed, like Lydia’s? … Or does Jane’s weekend sound eerily familiar??

If you wanna make the switch to Lydia-style weekends in your business, then just reach out ❤️

As a bookkeeper, I LOVE giving my clients back their evenings and weekends, and I’d love to do the same for you, too!

Message me here or book a call here https://calendly.com/katiergb/consultation

01/24/2023

Did you have any W2 employees that worked for your business in 2022? 📆

If you did, don’t forget - 𝘆𝗼𝘂’𝘃𝗲 𝗴𝗼𝘁 𝗮 𝘁𝗮𝘅 𝗳𝗶𝗹𝗶𝗻𝗴 𝗱𝗲𝗮𝗱𝗹𝗶𝗻𝗲 𝗰𝗼𝗺𝗶𝗻𝗴 𝘂𝗽 𝗼𝗻 𝗝𝗮𝗻𝘂𝗮𝗿𝘆 𝟯𝟭!

Here’s a quick overview of what you need to know:

✅ First, make a list of EVERYONE who worked for you in 2022 - even that guy who quit way back in January.

✅ Then, double-check if any of your 1099 contractors should actually be classified as W2 employees instead (the IRS is picky about this one!)

✅ Pull out your employee W-4 forms (something every employee should fill out on the day they are hired) and ask your employees to double-check their information (typos happen, and addresses or name changes may need updated)

✅ Gather your payroll information for your employees (gross pay, tips, social security, etc.) and for your company (employer ID number, business address, etc.)

✅ Each W-2 form has several copies to fill out (Copies A, 1, B, etc.) and they can be filed with the IRS either electronically or on paper

✅ Then, mail or hand-deliver Copies B and C of the W-2 forms to your employees for their records

✅ And while you can*technically* file for a 30-day extension … the IRS only grants them in limited catastrophic cases. And since the IRS can charge $30 - $100 for EACH late W-2 form … better to just get this done on time 😅

And, if you want to learn more about this process, I added a link to a helpful blog in the comments below 👇

Or … maybe you’re past the “read a blog” point, and need a little more hands-on help to meet this deadline 😬

If that’s the case - just reach out ❤️ I help my clients prepare for their W-2 deadline every year. And I’d love to help you, too!

Message me here or book a call at https://calendly.com/katiergb/consultation

01/18/2023

When was the last time you backed-up your company’s financial data from Quickbooks Online?

Yesterday? 6 weeks ago? 6 YEARS ago?? 😱

I know, it feels like *everything* today is automatically saved to “The Cloud” …

… but people make mistakes. Software can fail.

And something that could’ve taken you 5 minutes to prevent -

- now takes you hundreds of hours and thousands of dollars to recreate before the tax deadline 😭

So - here’s 3 (easy!) ways to create a backup of your QBO data today:

1️⃣ 𝗘𝘅𝗽𝗼𝗿𝘁 𝘁𝗼 𝗘𝘅𝗰𝗲𝗹

Click the gear icon at the top for the settings menu. Under tools, select “Export data” and enter the info and dates you want to export into a zip file. Easy!

2️⃣ 𝗨𝘀𝗲 𝘁𝗵𝗲 𝗥𝗲𝘄𝗶𝗻𝗱 𝗕𝗮𝗰𝗸𝘂𝗽𝘀 𝗔𝗽𝗽

Prefer something more intuitive with automatic back-ups? QBO has a (paid) app for that! Select “Apps” from the left menu bar and type in “Rewind Backups” to get started (This is the one I include in my services.)

3️⃣ 𝗛𝗮𝘃𝗲 𝗤𝗕𝗢 𝗔𝗱𝘃𝗮𝗻𝗰𝗲𝗱? 𝗨𝘀𝗲 𝘁𝗵𝗲 𝗕𝘂𝗶𝗹𝘁-𝗜𝗻 𝗧𝗼𝗼𝗹

And, if you have the Cadillac version of QBO, there’s a built in back-up tool! Select “settings”, then “Back up company”. From here you can also schedule automated backups!

I know, it’s not exactly a “sexy” task - but it can save you SO much time and money

And if you want more info on this, I linked to a great video from Hector Garcia below 👇

By the way - if it feels like you just can’t handle remembering one more freaking thing to do, then just reach out ❤️

I handle a LONG list of little things like this for all of my clients (so they don’t have to remember!). And I’d love to help you, too!

Message me here or book a call at https://calendly.com/katiergb/consultation

01/13/2023

Take a minute to think back when you were in 7th grade

(Yup - in all your awkward butterfly clips mid-puberty glory 🤩)

Now, try and remember one time you screwed up in school … but couldn’t ask your parents for help, because THEN they’d know … and you’d get in trouble 😅

😖 Maybe you forgot to write that “50% of your grade” midterm paper

😰 Or you thought that presentation was due NEXT week

🥵 Or you didn’t study AT ALL for that big algebra test

Remember how nauseous 🤮 and panicked you felt the morning of the test?

𝙏𝙝𝙖𝙩'𝙨 𝙝𝙤𝙬 𝙖 𝙡𝙤𝙩 𝙤𝙛 𝙢𝙮 𝙘𝙡𝙞𝙚𝙣𝙩𝙨 𝙛𝙚𝙡𝙩 𝙖𝙗𝙤𝙪𝙩 𝙩𝙝𝙚𝙞𝙧 𝙩𝙖𝙭 𝙥𝙧𝙚𝙥 𝙗𝙚𝙛𝙤𝙧𝙚 𝙘𝙤𝙢𝙞𝙣𝙜 𝙩𝙤 𝙢𝙚

And that may be exactly how you feel about *your* taxes right now

😖 You had good intentions to prep your finances … but now you’re 13 months behind

😰 You forgot about the tax deadlines that are coming up in January

🥵 And you feel too embarrassed to ask for help (and don’t want that “shame on you” parental lecture)

In a weird way, you’re still that freaked little kid, afraid of getting yelled at by the adults, right?

Here’s the good news:

𝗡𝗼𝘄 𝘆𝗼𝘂 𝗰𝗮𝗻 𝗮𝘀𝗸 𝗳𝗼𝗿 𝗵𝗲𝗹𝗽 𝘄𝗶𝘁𝗵𝗼𝘂𝘁 𝗴𝗲𝘁𝘁𝗶𝗻𝗴 𝗶𝗻 𝘁𝗿𝗼𝘂𝗯𝗹𝗲.

No matter how far behind you are, I’m not gonna lecture you or give a guilt trip.

I know this finance stuff isn’t your jam (just like the rest of my clients). And all I wanna do is help you.

No shame. No judgment. Nothing but compassion and fast expert work, I promise.

I’ve got 3 judgement-free spots left to help small business owners - like you - get tax-ready before the deadline. And I’d LOVE to help you, too!

01/11/2023

Are you ready for the quarterly estimated tax deadline on January 17th? 😬
If not, here’s the quick version on how to calculate and pay it on time (before you end up paying late fees!)
“𝗪𝗵𝗼 𝗻𝗲𝗲𝗱𝘀 𝘁𝗼 𝗱𝗼 𝘁𝗵𝗶𝘀?”
💙 Sole proprietors, partnerships, S-corp shareholders, and/or self-employed individuals that owe at least $1,000 in taxes for 2022
💜 Corporations that owe at least $500 in taxes for 2022
“𝗢𝗞, 𝘁𝗵𝗮𝘁’𝘀 𝗺𝗲 – 𝘀𝗼 𝘄𝗵𝗮𝘁 𝗱𝗼 𝗜 𝗻𝗲𝗲𝗱 𝘁𝗼 𝗴𝗲𝘁 𝘀𝘁𝗮𝗿𝘁𝗲𝗱?”
💙 In the "sole proprietors category"? Tax form 1040-ES
💜 Corporation? Tax form 1120-W
✅ Last year’s taxes
✅ Your current financial info
This will give you what you need to calculate the correct amount.
👉 𝘘𝘶𝘪𝘤𝘬 𝘵𝘪𝘱!
Don’t have time to crunch the numbers before the due date? Then use your 2021 numbers and the “safe harbor” rule!
If your annual income in 2021 was ...
💰 ... LESS than $150K, then plan to pay 100% of 2021's tax amount
💰 ... MORE than $150K, then plan to pay 110% of 2021's tax amount
Then divide that number by 4 for your Jan 17 quarterly payment amount
“𝗚𝗼𝘁 𝗶𝘁 – 𝗻𝗼𝘄 … 𝗵𝗼𝘄 𝗱𝗼 𝗜 𝗽𝗮𝘆 𝗶𝘁 𝗼𝗻𝗹𝗶𝗻𝗲?”
💙 In the sole proprietors category? You can pay online through the IRS payment gateway
💜 Corporation paying online? You’ll need to pay specifically through the EFTPS IRS payment site
(It's not as hard as it sounds – and you can read a more detailed step-by-step in the article I linked below 👇)
I hope that helps! ❤️
And, of course, if the idea of trying to calculate and pay this on time simply feels out of reach for you – then just reach out ❤️
I help my clients stay up to date, calculate and pay these quarterly taxes all the time. And I’d love to help you, too!
Message me here or schedule a consultation at https://calendly.com/katiergb/consultation

12/22/2022

Ever wish you had a crystal ball 🔮 when it came to the future of your business’ finances?

Something to answer questions like:

🔮 “Can I afford to hire 2 part-time employees for busy season?”, or

🔮 “When will I have enough money to buy new equipment?”

Now, I don’t have a crystal ball – but I have the next best thing:

🔮 𝙲𝚊𝚜𝚑 𝙵𝚕𝚘𝚠 𝙵𝚘𝚛𝚎𝚌𝚊𝚜𝚝𝚒𝚗𝚐 🔮

𝗪𝗛𝗔𝗧 𝗜𝗦 𝗜𝗧?

Cash flow forecasting is a way of using your 𝙥𝙖𝙨𝙩 𝙖𝙣𝙙 𝙘𝙪𝙧𝙧𝙚𝙣𝙩 financial history to estimate your 𝙛𝙪𝙩𝙪𝙧𝙚 business cash flow.

𝗛𝗢𝗪 𝗗𝗢𝗘𝗦 𝗜𝗧 𝗪𝗢𝗥𝗞?

𝗦𝘁𝗲𝗽 𝟭: 𝗨𝗽𝗱𝗮𝘁𝗲 𝘆𝗼𝘂𝗿 𝗳𝗶𝗻𝗮𝗻𝗰𝗲𝘀 - You can’t predict the future if you don’t know the present!

𝗦𝘁𝗲𝗽 𝟮: 𝗥𝘂𝗻 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗿𝗲𝗽𝗼𝗿𝘁𝘀 - Specifically, your cash flow report and your P+L report with at least one year of data!

𝗦𝘁𝗲𝗽 𝟯: 𝗔𝗻𝗮𝗹𝘆𝘇𝗲 𝗺𝗼𝗻𝗲𝘆 𝗰𝗼𝗺𝗶𝗻𝗴 𝗶𝗻 – Look for past patterns + apply them to the future. Will I have the same clients for the foreseeable future? Will I sell assets or take loans?

𝗦𝘁𝗲𝗽 𝟰: 𝗔𝗻𝗮𝗹𝘆𝘇𝗲 𝗺𝗼𝗻𝗲𝘆 𝗴𝗼𝗶𝗻𝗴 𝗼𝘂𝘁 – Will my expenses stay the same – or increase? Do I have large one-time expenses coming up?

𝗦𝘁𝗲𝗽 𝟱: 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁 𝗮𝘄𝗮𝘆! – Now, take everything you learned, and project it out over the next 1, 6 or 12 months! And you’ll have a solid foundation of data (𝘢𝘭𝘮𝘰𝘴𝘵 as good as a crystal ball 🔮) to answer your future budget questions

(Btw - here’s a helpful blog that goes into more detail!👇)

Let me guess … you liked that crystal ball idea, but I lost you with that “cash flow forecasting” jargon, right? 😉 If that’s you, then no worries! ❤️

Most of my clients don’t understand this process either … because they hired me to handle it for them! 😉 So if you want some help predicting your business cash flow – just reach out! I’d love to help.

Message me here or book a consult at https://calendly.com/katiergb

12/21/2022

If your business finances were a movie 🎥

❤️ Would it be a predictable rom-com with a happy ending?

👻 Or a suspense-filled scary movie with a nasty surprise twist at the end?

I know, I know, it’s kind of a goofy analogy – but hear me out:

𝗜𝗳 𝘆𝗼𝘂𝗿 𝗳𝗶𝗻𝗮𝗻𝗰𝗲𝘀 💰 𝗮𝗿𝗲 𝗮 “𝘀𝗰𝗮𝗿𝘆 𝗺𝗼𝘃𝗶𝗲” 👻 𝗶𝘁 𝗽𝗿𝗼𝗯𝗮𝗯𝗹𝘆 𝗹𝗼𝗼𝗸𝘀 𝘀𝗼𝗺𝗲𝘁𝗵𝗶𝗻𝗴 𝗹𝗶𝗸𝗲 𝘁𝗵𝗶𝘀:

👻 You jump out of your seat every time your phone rings (because it’s another past-due vendor, calling about his invoice that you *still* haven’t paid)

👻 You’re afraid to open your Quickbooks account (it’s SO far behind) and your business banking website (which shows a scary negative balance)

👻 And instead of the scary twist being something as simple as “Oh - ! So Bruce Willis was dead THE WHOLE TIME!” ...
.. A scary twist ending in your business’ financial year looks more like a shockingly high tax bill, an audit, or maybe even bankruptcy

Now … I don’t know about you

𝗕𝘂𝘁 𝗜’𝗱 𝗠𝗨𝗖𝗛 𝗽𝗿𝗲𝗳𝗲𝗿 𝘁𝗵𝗮𝘁 𝗺𝘆 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗳𝗶𝗻𝗮𝗻𝗰𝗲𝘀 💰 𝗿𝗲𝗮𝗱 𝗹𝗶𝗸𝗲 𝗮 𝗳𝗼𝗿𝗺𝘂𝗹𝗮𝗶𝗰 𝗿𝗼𝗺-𝗰𝗼𝗺 ❤️ :

❤️ You consistently hit your growth and financial goals (You know, the same way the guy always gets the girl)

❤️ Your financial reports are always clear, up-to-date and tax-ready (Just like the light-hearted no-frills plot of a rom-com script)

❤️ And everyone lives happily ever after!

… Sounds a lot better than that scary movie version, right? 👻

So – if your business finances feel more like “The Conjuring”

And less like “While You Were Sleeping”

Then just reach out ❤️

I help each and every one of my clients turn their scary and suspenseful business finances

Into predictable financial stories with happy endings

(Like bigger profit margins and effortless tax prep!)

And I’d love to help you “rewrite the script” for your business, too.

Send me a message here or book a consult with this link calendly.com/katiergb

12/12/2022

If only your business finances came with a spellcheck function or double-checker, right? Because sometimes … you’re not 100% sure you’re doing it right …

… Or how much it will hurt at tax time 😬

If you aren’t sure, here’s 3 of the most common bookkeeping mistakes, and how to start correcting them today:

(𝟭) 𝗬𝗢𝗨𝗥 𝗕𝗨𝗦𝗜𝗡𝗘𝗦𝗦 𝗔𝗡𝗗 𝗣𝗘𝗥𝗦𝗢𝗡𝗔𝗟 𝗙𝗜𝗡𝗔𝗡𝗖𝗘𝗦 𝗔𝗥𝗘𝗡’𝗧 𝗦𝗘𝗣𝗔𝗥𝗔𝗧𝗘

You should at a minimum have a separate bank account, ideally one made for a business. If you don’t have a business bank account here’s how to get one:

🏦 Purchase a business LLC
🏦 Register for a (free) EIN
🏦 Set up a business bank account with its own debit/credit card

(𝟮) 𝗬𝗢𝗨𝗥 𝗕𝗢𝗢𝗞𝗞𝗘𝗘𝗣𝗜𝗡𝗚 𝗜𝗦 𝗢𝗨𝗧 𝗢𝗙 𝗗𝗔𝗧𝗘

It’s important to update your financial records every month to get an accurate idea of where your business is – and how to keep improving. Here’s how to start catching up:

📊 In your financial software, check when you last reconciled your accounts
🧾 Gather up all your receipts, invoices, loan docs and bank statements back to that date
📆 Block time on your calendar to catch up (or hire a bookkeeper to do it)

(𝟯) 𝗬𝗢𝗨 𝗡𝗘𝗩𝗘𝗥 𝗥𝗨𝗡 𝗧𝗛𝗘 𝟯 𝗞𝗘𝗬 𝗙𝗜𝗡𝗔𝗡𝗖𝗜𝗔𝗟 𝗥𝗘𝗣𝗢𝗥𝗧𝗦

💵 P+L Report (Are you making or losing money?)
💵 Cash Flow Report (Do you have enough money to pay your bills?)
💵 Balance Sheet (What is the value of your business right now?)

Even if your numbers are updated daily, you still need to run these reports to turn those numbers into real-world strategies!

(BTW – I’ve attached a helpful article below with more tips👇)

And, of course, if you don’t feel like keeping up with the never-ending grind of bookkeeping work – or the nagging worries that you’re doing something wrong – just reach out.

I’d love to help you get your books up-to-date, accurate, solid and stress-free – just like I do for the rest of my clients 😉 

Book a free call here https://calendly.com/katiergb

11/29/2022

Almost months end here's a short to do list for your monthly bookkeeping.

[Image Caption: Monthly Bookkeeping To Dos

Reconcile bank accounts + credit cards statements
Run + review your financial reports (P+L, Cash Flow, etc.)
Process + review payroll
Run invoice aging report + send reminder statements
Track and update inventory]

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Winston-Salem, NC
27106

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