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Are you tracking your inventory and COGS correctly in your boutique bookkeeping? If you’ve been expensing your inventory when you buy it, your profit and loss report is NOT giving you an accurate picture of your business. In this episode, we’re breaking down the difference between inventory and cost of goods sold, why it matters for your boutique finances, and exactly what to do if you’ve been doing it wrong.
Ready to take your learning a step further?
Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system.
Sign up now: www.findingfreedomfinancial.com/masterclass
Other Ways to Work With Me:
Prefer to learn while you read? Check out the blog post for this episode:
www.findingfreedomfinancial.com/inventory-vs-cost-of-goods-sold
Related Episodes & Resources Mentioned:
Not sure which QuickBooks subscription level is right for your boutique? In this episode, I’m breaking down each QuickBooks Online plan so you know exactly which one fits your needs as a boutique owner - and which ones are a total waste of money. Spoiler: Simple Start is probably all you need.
Ready to take your learning a step further?
Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system.
Sign up now: www.findingfreedomfinancial.com/masterclass
Other Ways to Work With Me:
Prefer to learn while you read? Check out the blog post for this episode: www.findingfreedomfinancial.com/quickbooks-subscription-comparison
Related Episodes & Resources Mentioned:
Today I’m sitting down with Lesly Birkland, owner of Birkland Boutique - a faith-based lifestyle boutique on Main Street in her small town. Lesly has been a student inside the Bookkeeping Made Simple for Boutiques Membership for the past 10 months, and today she’s sharing her journey of finally getting serious about her numbers. We’re talking about what it looked like before, the moment things clicked, and how understanding her finances has completely changed the way she runs her boutique.
Ready to take your learning a step further?
Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system.
Sign up now: www.findingfreedomfinancial.com/masterclass
Other Ways to Work With Me:
Related Episodes & Resources Mentioned:
Learn more about the Finance Summary Report in Shopify: https://www.findingfreedomfinancial.com/reports-in-shopify
Visit Lesly's website: BirklandBoutique.com
Follow Lesly on Instagram: @BirklandBoutique
In this episode, I’m pulling back the curtain and sharing the story of how the Bookkeeping Made Simple for Boutiques membership came to be - from my corporate accounting career, to betting on myself with a newborn at home, to the pivotal moment I realized a generic QuickBooks course wasn’t going to cut it. If you’ve ever wondered why I do what I do and why this membership was built specifically for boutique owners and independent retailers, this episode is for you. Plus - today is launch day! Hear all about the founding member opportunity and how you can lock in $24/month FOR LIFE.
Ready to take your learning a step further?
Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system.
Sign up now: www.findingfreedomfinancial.com/masterclass
Other Ways to Work With Me:
Prefer to learn while you read? Check out the blog post for this episode:
https://www.findingfreedomfinancial.com/accounting-for-retailers
Related Episodes & Resources Mentioned:
Join the membership now through April 30th, 2026 to lock in your spot as a founding member: https://www.findingfreedomfinancial.com/membership
Are you currently managing your own retail bookkeeping — or at least TRYING to — but feeling like you have no idea if you’re actually doing it right? You might not need a bookkeeper to do it FOR you. You might just need someone to TEACH you. In this episode, I’m breaking down what a bookkeeping coach actually is, why boutique bookkeeping is more complex than most people realize, and how having the right support can take you from confused and overwhelmed to confident in your numbers.
Ready to take your learning a step further?
Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system.
Sign up now: www.findingfreedomfinancial.com/masterclass
Other Ways to Work With Me:
Prefer to learn while you read? Check out the blog post for this episode:
https://www.findingfreedomfinancial.com/bookkeeping-coach/
Related Episodes & Resources Mentioned:
As a virtual bookkeeper, one of the hardest things for us to accurately track is the physical cash that is being used in our clients’ stores. That’s because there’s no statements for us to review, or account for us to connect to. It 100% relies on the internal processes that our clients have set up. Because of that, these internal processes are SUPER important (whether you’ve hired a bookkeeper or you ARE the bookkeeper), so in today’s episode, I’m going to share my recommended process with you, and encourage you to implement something like this in your own businesses.
Ready to take your learning a step further?
Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system.
Sign up now: www.findingfreedomfinancial.com/masterclass
Other Ways to Work With Me:
Prefer to learn while you read? Check out the blog post for this episode:
https://www.findingfreedomfinancial.com/cash-management-in-retail
Related Episodes & Resources Mentioned:
One of the first “money” books I read when I started my business was Profit First by Mike Michalowicz, and let me say that it was a game changer in how I manage the cash flow in my business. But, if you have read the book, you probably noticed that it doesn’t QUITE work the same if you have an inventory-based business.
In this episode, I’m here to tell you the basics of how the Profit First system works, and how you can use it to help manage the cash flow in your retail business to guarantee you always make a profit, save some money for taxes, and always pay yourself SOMETHING for all your hard work.
Ready to take your learning a step further?
Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system.
Sign up now: www.findingfreedomfinancial.com/masterclass
Other Ways to Work With Me:
Prefer to learn while you read? Check out the blog post for this episode:
https://www.findingfreedomfinancial.com/profit-first-system
Related Episodes & Resources Mentioned:
Buy Profit First on Amazon here
Need clarity on how to actually pay yourself as a small business owner? This blog post & episode breaks down how to do this based on your business entity type.
Not sure if you need to be paying quarterly estimated tax payments? This post might help.
And finally, grab your own copy of my Profit First Template for free here!
Let's talk about sales tax…This is probably one of the most confusing aspects of running a retail business, I’m just gonna be up front about that. It’s even slightly more complicated if you do any online selling. And let's be real…it's 2026. Chances are, you’re selling stuff online.
Every state is different, so I’m going to preface this episode by saying that you should always look at the resources that your state department of revenue, or equivalent, has available for you.
But, today’s episode, I’m going to give some general guidance on what sales tax is, what rates you need to charge, who you need to charge, and then what you need to do with the money you collect
Ready to take your learning a step further?
Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system.
Sign up now: www.findingfreedomfinancial.com/masterclass
Other Ways to Work With Me:
Prefer to learn while you read? Check out the blog post for this episode:
https://www.findingfreedomfinancial.com/sales-tax-questions
Related Episodes & Resources Mentioned:
Have you ever been unboxing the latest inventory for your business and you just HAD to keep something for yourself??
I mean, it’s one of the benefits of owning your own business – getting first dibs on everything!
But, from a bookkeeping & tax perspective, you want to make sure that you are handling these items appropriately. But, how exactly do you do that?
In today’s episode we’re going to cover my recommended method for handling this situation so make it clean & simple for your bookkeeping & taxes
Ready to take your learning a step further?
Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system.
Sign up now: www.findingfreedomfinancial.com/masterclass
Other Ways to Work With Me:
Prefer to learn while you read? Check out the blog post for this episode:
https://www.findingfreedomfinancial.com/how-to-record-inventory/
Related Episodes & Resources Mentioned:
Sales Tax Questions I Hear ALL the Time - Answered for you! https://www.findingfreedomfinancial.com/33
How to Keep Good Bookkeeping Records for Your Shopify Store: http://findingfreedomfinancial.com/49
One of the more challenging parts of running a small business is making sure that you are paid for all the hard work and hours that you are pouring into your business. Unlike a traditional employee where you’re presented with a regular paycheck, determining how to pay yourself as a business owner can be a little more challenging & complex.
In today’s episode, we are going to take a deeper dive into the things to consider when you’re trying to decide how (and how much) to pay yourself as the one who started it all.
Ready to take your learning a step further?
Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system.
Sign up now: www.findingfreedomfinancial.com/masterclass
Other Ways to Work With Me:
Prefer to learn while you read? Check out the blog post for this episode:
https://findingfreedomfinancial.com/pay-yourself/
Related Episodes & Resources Mentioned:
Profit First Book by Mike Michalowicz
Don’t have time to read the whole book? Check out this old blog post I wrote to summarize it for you: https://findingfreedomfinancial.com/profit-first-system/
Confused on what it really means to become an S Corp? This blog post might help: https://findingfreedomfinancial.com/s-corp-structure-benefits/
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