• Jeannie Doherty

Free Bookkeeping

Updated: Oct 12



Once upon a time, I was like any other bookkeeper, offering a service for a fee. Then one day, a vase fell from a shelf, hit me on the head & BOOM brilliant idea!


FREE Bookkeeping.


Now before you say “Jeannie, that’s the concussion talking” let me explain my logic.


What I’ve noticed is that business owners hate paying for bookkeeping. It’s a grudge purchase that returns them BAS bills. No surprise they simply don’t value it.


Why would I charge for a service people don’t value?


So here’s the exciting part. I’ve worked my bum off to transform my team from Bookkeepers to Strategic Bookkeepers. Put simply, yes, Bookkeeping is a cost BUT Strategic Bookkeeping is an investment. 


And so, the clients who engage in our Thriving Lifestyle Business programs don’t pay for Bookkeeping at all. Their hard earned cash is traded for killer strategy & the bookkeeping is thrown in for free. 


So stop wasting money on Bookkeeping & start investing in Strategic Bookkeeping. 

To find out if we’re right for you, book a free 20 minute strategy call here.


Or… read on to find out more.

strategic bookkeeping model

Bookkeeping is Numbers 101 which is up to date, accurate, accounting records. 

Strategic Bookkeeping is a methodology that will help you take the action needed to optimize for profit & cash. 


How exactly? 

Numbers 101


Ok, this IS traditional Bookkeeping & it’s where it all starts. You can’t improve what you can’t measure. If you’re flying blind with no optics on your numbers, it’s time to pull your finger out. 

Even in this first step my team and I have saved clients so much money.  Because even in the Numbers 101 space, we have strategic methods, a “secret sauce” if you will. 


Here’s some examples.

  1. We retrospectively cancelled a GST registration resulting in 30k of savings

  2. We’ve successfully negotiated with the ATO to have over $100,000 in fines and interest remissed (across our database) 

  3. We’ve registered clients for new tax types they didn’t know they were eligible for like fuel tax credits resulting savings 

  4. We’ve navigated new legislation like the cash bonus & JobKeeper & our clients reaped rewards of between $10,000 and $300,000 each (and in many cases they didn’t know they were eligible)

In fact, one of our clients said “I just can’t believe I’m eligible again”. We’ve helped him receive over $90,000 in government incentives 

There’s lots more to Numbers 101 & you can read more here.

Numbers Knowledge


Ahhh the magic begins. Once your numbers are up to date & accurate (and you’re finally getting a good night’s sleep) we’re ready to educate you around what it all means. 


But why is that important? How will that save or make you money?


Ok, well let’s look at the benefits. 


Let’s start with SERPI!


SERPI is the 5 ways to pull cash out of your business. It stands for Sales, Expenses, Receivable Days, Payable Days, Inventory Days.


And while I won’t go into too much detail, let me give you some real examples of how it can improve your cash flow.


And before I do, I want to remind you that… Revenue is vanity, profit is sanity & cash is King. Many a business tell me about the “Sales they’re making” but their customers aren’t paying them! Ohoh!

Many a business has gone “broke doing business” with high sales but not cash left to pay the bills.

 

The clients we work with benefit immediately from 2 key changes (in terms of SERPI). 

  1. Change their customer terms / bring the money in faster / better follow up (and there’s some cool automation tools for that) 

  2. Fix their terrible payroll schedule & pay their staff fortnightly, monday to sunday with payday the following Thursday (boom, way better cashflow & “best practice payroll calendar”) 

Another area of Numbers Knowledge that will help you take the action needed to improve your “profit” (not just cash) is understanding benchmarks or the rule of thirds. That is… what does optimal business performance look like for me? 


There are 3 “A’s” to growth

  1. A for awareness

  2. A for acceptance

  3. A for action

If are aware you COULD be doing better, that your peers ARE doing better, you can accept it and make a plan to take the action needed to change it. The result… incremental profit increases. 

There’s lots more to Numbers Knowledge & you can read more here.

Numbers Strategy


While engaging in your numbers and educating yourself (which every business owner MUST do) then you’re going to start getting Strategic around your numbers.


One of my favourite examples of this is “moving” the numbers around so you’re ready to set meaningful targets. For example, what we find is that some expenses (including wages) are often not categorised in a way that allows a business owner to measure the cost of sales & operations costs properly.


And remember what I said? You can only improve what you can measure.


The consequence of lacking Numbers Strategy is that your business won’t be performing optimally & you’ll be leaving cash & profit on the table. This is also what we call cash & profit leakage. 

  1. If you can measure cost of sales properly, you can can improve it

  2. If you can measure your operations costs, you can improve them

This is also a space where we do “what if” analysis. “What if” I hired an admin assistant? 

It’s a space where you can make business decisions, confidently. 


There’s lots more to Numbers Strategy & you can read more here.

Numbers Targets 


The concept around Numbers Targets is simple enough

  1. Set a turnover goal 

  2. Set other financial KPI’s 

But! You must do it in a Strategic way. The key to this is nailing the previous 3 steps. 

Here’s how to make more profit from Numbers Targets

  1. Have your targets in a spreadsheet 

  2. Review them each month – target v’s actual 

  3. What action do you need to take to bridge the gap between your target & your actual numbers?

  4. Take the action needed 

  5. Let the magic happen

A word on “bridging the gap”. To move from where you are now to where you want to be (target v’s actual) you need to


G: set GOALS

A: take ACTION 

P: be PERSISTENT 


Knowledge is not power, knowledge + action is power.


One of our lovely VIP’s who engaged around numbers Targets in a big way pulled $240,000 more profit out of his business annually.

  1. It was incremental & it took a year

  2. It was primarily around his expenditure 

  3. It did help him improve sales (because he was improving what he measured) 

Rome wasn’t built in a day. Put one foot in front of the other & you will reach your destination.

There’s lots more to Numbers Targets & you can read more here.

Numbers Monitoring


Last but not least, Numbers Monitoring. The last frontier in our Strategic Bookkeeping model.

But! By no means the end. Here’s our Thriving Lifestyle Business Model where we go beyond the numbers, diving into operations and habits. If you’d like to know more about that please book a call. 


But for now, back to Numbers Monitoring. You know, when I created the Strategic Bookkeeping method I have to say, for such a powerful, final step it’s really not a sexy name! “Monitoring, blah”. But I promise you, it’s a very sexy result!


Drum roll please… Numbers Monitoring is all about Action. And action my friends is where the magic happens.


I’m going to swing into some examples.


Kirsten, engaged in Strategic Bookkeeping with us, she wanted to grow her business but she just never had the confidence because she was in the dark about the numbers. Sure, numbers 101 was good, but beyond that, what did it all mean?


We took Kirsten through our 5 step methodology & it was through monitoring the numbers with us that Kirsten gained the confidence, in the numbers, to hire the people she needed. 


Kirsten says “I would never have taken the next step to grow my business without being able to see into the future. Cloud 9 shone the light that allowed me to do that”.


Another example is a restaurant client. Through Numbers Monitoring they were able to improve their cost of sales & wages to pull $93,000 more profit out of their business (over a year). 

There’s lots more to Numbers Monitoring & you can read more here.


You can also take our Digital diagnostic tool which will score your business across the 5 numbers based pillars & around operations. 


So you CAN improve what you measure.


You can get in touch with me by booking a FREE 20 minute Strategy call or a FREE Planning mastermind.


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