Why Independent Stylists Need To Set Up A Bookkeeping or Accounting System
- E32
- 18:28
- June 15th 2020
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Hello again and welcome to part two of Business financial literacy for the independent stylists.
In Part one I discussed the importance of picking a legal business structure for your business, which included the different options available to independent stylists and the importance of understanding the structure you choose.
Today I’ll be talking about setting up an accounting system for your business and why it’s important
When I speak to some of my independent clients about the need for them to set up and maintain a bookkeeping/accounting system some of them simply say that they don’t see the need. And that’s because they work directly out of their bank accounts, which can prove to be quite risky if you ever start to experience cash flow problems.
The first thing is your business needs to generate financial records so that you can have access to the three most important reports a business needs to make decisions.
PROFIT AND BEAUTY: A Show For Salon Professionals
This show was created for Salon owners who have decided to start running their salon like a business rather than a hustle.
The focus of the show is to help salon owners understand the numbers behind their business so they can grow and make extraordinary profits.
My name is Desarie Anderson, a hair stylist turned accountant and financial guide. When salon owners have trouble understanding the finer details of their finances, they come to me. With 19 years of salon ownership experience coupled with my experience in the financial world, I know the ins and outs of both the beauty and the financial industries. Whether you want to minimize your tax bill or grow and scale your salon, I’ve got you covered.
