Rerun: Learning From Your Bookkeeper

Understanding all aspects of your finances is key to the successful running of any business, but it can be a major downfall for some. This and more is covered in my interview with Chris Stenhouse, Business Manager at Professional Booking Services (PBS) back in Episode 55. That’s right – it’s rerun time!

The Melbourne-based family business provides full financial and administrative solutions to businesses throughout Australia and overseas. Working across all industries, PBS bookkeepers support businesses with turnovers ranging from $50,000 to $12million.

In this episode, Chris covers all-things bookkeeping. He discusses the difference between a bookkeeper and accountant, what makes a good bookkeeper, and the importance of having a good rapport with your bookkeeper. You’ll also hear his tips on staying on top of your payable reports.

Topics covered on budgeting, financials and general finance insights:

  • How bookkeepers can set up a budget for you, understanding your earning potential through budgets and billable days, and building your budget from nothing.
  • Common financial habits of Allied Health business owners, Chris’ advice on how often you should be checking your financials, and the importance of monthly financial reviews.
  • Making bookkeeping love happen, better understand your cost of sales, setting KPIs with your bookkeeper, explaining profit losses and balance sheets, and how to account for unusual expenses correctly.

Related Episodes 

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More about The Private Practice Made Perfect Show: 

The Private Practice Made Perfect podcast is a much loved conversation for those wanting to hear real life Australian Allied Health business stories, adventures and the occasional confession. 

The outstanding guest list includes business owners and wonderful small business supporters such as accountants, marketers, bookkeepers, IT wizards, virtual assistants, lawyers and more. 

As you know, it takes a village to run a business. Cathy gathers the tribe, captures the collective wisdom and conveniently delivers it to your earbuds. 

All episodes are chatty, honest and practical… warning… we often stray from the topic, talk of wine and laugh loudly.

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Chris Stenhouse

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