Karma Bookkeeping with Day2Day Books

Written by: Marloes van lent

Written on: 21 November 2023

Bookkeeping & Business Tips

Marloes Van Lent - Day2Day Books Golden BC

Karma Bookkeeping with Day2Day Books

In May 2024 Day2Day Books will celebrate 10 years in business. During these 10 years I have seen many small businesses and nonprofit organizations during different stages of their journey. Especially during the first 2 years this group struggles with finding the right resources and support to really help them succeed and to achieve their goals. 

One of my dreams has always been to find a way to give back to the business community. A way to celebrate our values of Passion, Honesty , Teamwork and Balance. And a way that fits our current workload without overstretching our own resources. Therefore I have developed this program, Karma Bookkeeping. 

“The meaning of karma is in the intention. The intention behind action is what matters.” The Bhagavad Gita

What is Karma Bookkeeping?

Karma Bookkeeping at Day2Day Books is a three month free bookkeeping service (valued at $1500) for small businesses and nonprofit organizations who have been in business for 2 years or less and have an annual revenue of $100,000 or less. During this time our team will work closely with the business owners, manager or treasurer to review your current bookkeeping process and systems, make recommendations, and provide you with instructions on how to implement them. 

If this sounds like something you could benefit from (because who couldn’t??) You can apply for the program via this application form where we will ask you to share more about your organization and your goals. 

We will accept applications for this program up to December 30th and will announce the winning applicant mid January with a start date February 1, 2024. 

Please note that if you require a full setup of QBO this is not included into this service and will be charged separately with a 25% discount. Regular pricing for this is $799. Check out this page to learn more about our services.

*this doesn’t include the setup for your QBO

Karma Bookkeeping - Day2Day Books - Golden BC

Why is getting started on the right path important?

There are many reasons why having your books organized is so important. 

Here are a few that really stand out as important and why:

  • Financial Organization: Accurate bookkeeping helps you organize your financial information in a systematic manner. This includes tracking income, expenses, assets, and liabilities. Well-organized financial records make it easier to understand and manage your business’s financial health.
  • Compliance: Proper bookkeeping ensures that you comply with legal and regulatory requirements. Tax authorities and other government agencies often require businesses to maintain accurate financial records. Failure to comply with these regulations can result in penalties and fines. And therefore can become quite costly! 
  • Decision-Making: Accurate financial data provides a solid foundation for making informed business decisions. Whether you’re considering expansion, investments, or cost-cutting measures, having reliable financial information is essential for making strategic choices that can positively impact your business.
  • Tax Preparation: Well-maintained books simplify the process of preparing and filing your taxes. When tax season arrives, you’ll have all the necessary documentation readily available. This not only saves time but also reduces the likelihood of errors in your tax filings.
  • Early Detection of Issues: Regularly reviewing your financial records can help you identify potential issues or challenges early on. Whether it’s cash flow problems, unexpected expenses, or declining profits, early detection allows you to address these issues proactively and mitigate their impact on your business.
  • Business Growth: As your business grows, so does the complexity of your financial transactions. A solid bookkeeping system like using QuickBooks lays the groundwork for scalability. It ensures that your financial processes can handle increased volume and complexity as your business expands.
  • Cost Management: Effective bookkeeping helps you track your expenses accurately. This, in turn, facilitates better cost management and budgeting. You can identify areas where costs can be reduced or optimized, contributing to improved overall financial performance.
  • Peace of Mind: Knowing that your financial records are accurate and up-to-date provides peace of mind. It frees up mental energy that you can redirect towards other aspects of running and growing your business. We love contributing to this!! 

Why do we want to offer Karma Bookkeeping?

It’s a known fact that new businesses who make it past the first 3-5 years, are most likely to succeed. This means helping businesses set up correctly during their first 2 years so they can make it to year 3 or 5, is so important! As mentioned above, from being in business for 10 years, we have gained a lot of experience of what works and what doesn’t. What common mistakes are made at the start of running your business and / or setting up your books. 

We want to share our knowledge and make it accessible to young entrepreneurs / business owners. So if this sounds like you or someone you know, apply for this program via this application form!

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