Do you know what motivates you? Is it sweet treats? (It’s me—hi!) Or is it meeting a goal or seeing improvement? Maybe it’s an encouraging word or a “well done” from someone. I want you to think about what motivates you as we dive into this.

It’s my birthday week—woohoo! So I wanted to do something a little more fun and lighthearted this week in celebration. One thing I consistently hear is that sometimes it’s a struggle to actually do your bookkeeping. It’s hard to motivate yourself. When I talk to clients and in conversations on social media—especially if you’re a DIYer—sometimes it’s tough to keep up with monthly bookkeeping like I recommend. It’s easy to keep putting it off and off. I think that’s probably because there’s no one—no boss, per se—asking you for your deadline.

If it’s not tax season, then there’s no real deadline looming, which makes it easy to keep putting bookkeeping off and off. I mentioned in other blogs, some reasons why it’s really important to consistently do your bookkeeping. But today, I want to share some fun hacks to help motivate you to get it done. Most of these tips come directly from my clients—the things they’ve tried and their ideas—as well as from conversations I’ve had on social media, especially with those of you DIYing your bookkeeping. Some of these hacks are really good, so I promise to keep it fun and exciting. Read till the end—you might find a tip you want to try.

So, here we go! We’re going to talk about a few different hacks to make bookkeeping more fun. 

The first tip to consistently do your bookkeeping is to create a fun ritual or routine around completing your bookkeeping.

Some of my clients like to light a certain candle, others make a favorite drink, and some go to their favorite coffee shop. You could also put on your favorite pump-up jam—whatever excites and motivates you. Using your senses and rewarding yourself with a special treat can be really helpful. If you’ve ever done any reading or research on habits, you know there’s a lot about stacking habits together.

I think this ties right into the idea of rewarding yourself for doing the thing you don’t want to do—like putting off your bookkeeping. You can kind of trick your brain by saying, “Okay, I’m doing this fun thing mixed with the task I don’t want to do,” and it makes the whole experience a little better. This is a great hack to try, especially if you’re working to form a new habit. If you want to sit down and do your bookkeeping monthly, try this for a few months. Pick one ritual—light a candle, make your favorite drink, go to a coffee shop, or play a certain song or band—and really get into the habit of doing your bookkeeping every month at the same time, in the same way. Creating a fun ritual or routine is my first tip.

My second tip to consistently do your bookkeeping is to grab a friend and do your bookkeeping together.

Accountability goes a long way! If you have a business friend with similar goals, it can be really encouraging and motivating to say, “Hey, let’s jump on Zoom or Google Meet and work on this thing together that we both keep putting off.” These sessions tend to be most successful when you set a specific time limit. Work hard for a set amount of time then give yourselves a break to chit-chat or do whatever feels right.

Grab a friend and do your bookkeeping together. Now, I know some people feel a bit hesitant about this—like they don’t want to share any personal business information, and that’s totally your right as a business owner. That’s not what I’m suggesting. I’m simply encouraging you to commit to doing your bookkeeping alongside someone else and see if that helps. You could ask a friend to check in with you each month, saying, “Hey, did you actually get your bookkeeping done?” I’ve done that myself during certain seasons of life and business, and having that accountability was really helpful.

Another option is to join a monthly support club. This is my membership where I act as that accountability partner for you. If you want to learn more, you can visit my website at aircommiller.com for all the details. Accountability can make a huge difference if that’s where you struggle the most—having someone to support and motivate you to actually get it done.

The third tip is to pay yourself AFTER you do your bookkeeping for the month.

Several of my clients have tried this one and said it was the ultimate motivator—because why work so hard in your business if you’re not getting paid? It really depends on what drives you. If you’re someone who’s motivated by treats and rewards, this might not work unless you see your paycheck as a reward. But for others who are motivated more by avoiding pain, the idea of only paying yourself after completing your bookkeeping can be a powerful incentive. Some clients make sure their bookkeeping is done before they transfer their paycheck, or sometimes they’ll pay themselves a small bonus—just enough for a coffee or a special lunch. The “treat yourself” method works better for some people than others. It really comes down to knowing how you operate and what motivates you.

To recap, here are three fun ways to consistently do your bookkeeping and make it less boring: one, create a fun ritual or routine around doing it; two, grab a friend and do your bookkeeping together for support and accountability; and three, pay yourself only after you’ve done your bookkeeping or give yourself a small bonus once it’s done.

I’d love to hear from you! Are you already doing any of these? Which one are you thinking of trying next? Let me know!

Alright, now it’s time for the demystifying financial jargon portion of the show.

Today we’re going to talk about assets.

An asset is something that has economic value and will provide a future benefit to your business. You’ll see assets listed at the top of your balance sheet whether you run the report yourself or your bookkeeper does it for you. Common examples include cash, accounts receivable, notes receivable, and small equipment.

Cash is pretty straightforward—it obviously has future economic value. Accounts receivable are amounts your customers still owe you. For example, if you’ve sent an invoice but haven’t been paid yet, that invoice is considered an asset because it’s highly likely you’ll get paid soon. Small equipment could be computers, office supplies, or even vehicles depending on your industry. For photographers, it might be cameras or other specialized gear you use for your business.

Notes receivable are similar to accounts receivable but usually involve loans you’ve made to others. If someone owes you money and is expected to make payments on time, that’s also an asset.

Sometimes, if you’ve purchased a business, you might see what are called intangible assets. These are things that don’t have a physical form but still hold value—like trademarks or goodwill. Goodwill is an example of an intangible asset — it represents the value of a business’s name and reputation. Sometimes a number is assigned to it, but usually, you don’t need to worry about these details unless you’re involved in buying or selling a business.

So, to sum it up: an asset is something that has economic value and will provide future benefit to your business. You’ll see assets listed on your balance sheet, and now you know a bit more about what they include.

Oh, and if this helped boost your confidence in understanding your business numbers, could you do me a huge favor? Share it in your Instagram stories and tag me, or send it to a business bestie. I’m so grateful for you and would love to connect—find me on Instagram @Erika_Millard.

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