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Nick Dunham: Get Your Books On Track for More Profit!
Manage episode 356707504 series 3430754
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About Nick Dunham: Nick Dunham is a seasoned attorney and CPA who has found his passion in helping small businesses thrive. With years of experience working as a tax manager in Big Four Accounting, as an attorney at a litigation law firm, and as an owner of both a CPA and private law practice, Nick has the knowledge and expertise to guide businesses through any stage of their journey. As the founder of Nick Dunham Bookkeeping, L.L.C., Nick now focuses on partnering with entrepreneurs, attorneys, and small law firms across the country to handle their bookkeeping and controller needs. He understands that many business owners struggle with managing their finances, and he's committed to helping them free up their time and make informed decisions by taking the burden of bookkeeping off their shoulders.
In this episode, Ryan and Nick Dunham discuss:
- Why hiring a virtual bookkeeper is a must even for small businesses
- Common bookkeeping mistakes that could lead to profit loss for small business owners
- What to expect when working with a bookkeeper and how they can assist in avoiding costly bookkeeping mistakes
- Key questions for business owners to ask their bookkeeper after reviewing monthly reports and financial statements
Key Takeaways:
- For small business owners, hiring a virtual bookkeeper becomes beneficial once their revenue reaches around a hundred thousand, as it frees up their time to focus on growing their business instead of getting bogged down with bookkeeping.
- Putting off bookkeeping and relying solely on bank balances to run a business may result in missed expenses, late fees, and tax penalties, underscoring the importance of hiring a bookkeeper early on to prevent costly errors.
- Working with a bookkeeper is a hassle-free way for business owners to save both time and money. The process is simple, and requires little effort from the business owner. Moreover, with cloud technology, it becomes even more convenient.
- Business owners should review monthly profit and loss statements to track their progress, manage expenses, capture tax deductions, and reduce costs.
"What I tend to see is a lot of people are wearing a lot of hats as an owner, and there's only so much time to go around. So do you want to spend your time doing your bookkeeping or spend doing the reason you started the business, you know, selling a product, whatever it may be?" — Nick Dunham
Connect with Nick Dunham:
Website: www.nickdunhambookkeeping.com
Facebook: https://www.facebook.com/nick.dunham.904 and https://www.facebook.com/nickdunhambookkeeping/
Instagram: https://www.instagram.com/theattorneysbookkeeper/
Schedule your free 1:1 Profit Breakthrough Session with Ryan here: https://go.oncehub.com/profit
Connect with Ryan Kimler:
Net Profit CFO Home Page: www.netprofitcfo.com
Email: ryan@netprofitcfo.com
Facebook: www.facebook.com/rkimler
LinkedIn: www.linkedin.com/in/ryankfinancialclarityllc/
LinkedIn NPC Company: https://www.linkedin.com/company/netprofitcfo/
LinkedIn FC Company: https://www.linkedin.com/company/financial-clarity-llc/
Show notes by Podcastologist Andy Santiago
Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.
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