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In this episode, I'm tackling a listener question about document retention in our digital age. You know how we used to worry about keeping physical files for 3, 5, or 7 years? Well, now that everything's digital and stored in the cloud, does that change our retention strategy? Spoiler alert: it's way more complex than I initially thought! I'm breaking down both IRS guidelines for small businesses AND AICPA guidelines for accounting firms, plus sharing exactly what we do in our own firm.

What You'll Learn:

• The difference between IRS requirements for small businesses vs. AICPA guidelines for accounting firms
• How to create your own document retention policy (and why every firm owner needs one)
• The logistics of offboarding clients while protecting yourself legally
• What documents you should NEVER delete and what you can purge after 7-10 years

Resources mentioned:

• Ask YOUR Questions at: http://speakpipe.com/ambitiousbookkeeper
• IRS Publication 583 and 552
• AICPA Guidelines
• IRS.gov
• Dropbox, OneDrive, Google Workspace, Google Drive
• Canopy, Content Snare

For experienced bookkeepers & accountants:

• Learn how to start your bookkeeping business in The Bookkeeping Business Accelerator®: https://www.ambitiousbookkeeper.com/bba
• Grab my FREE Start your Bookkeeping Biz Checklist: https://www.ambitiousbookkeeper.com/checklist
• Grab my FREE New Client Onboarding Templates: https://www.ambitiousbookkeeper.com/onboard

For new bookkeepers:

• Learn the fundamental accounting skills in Katie Ferro's Become a Bookkeeper: https://www.katieferro.com/a/38894/2PQNgtvv

For online businesses:

• Become a client at my firm, Of Course Financial: https://www.ofcoursebookkeeping.com/contact

Connect with us:

• Visit our website: https://www.ambitiousbookkeeper.com
• Follow the Blog: https://www.ambitiousbookkeeper.com/blog
• Connect on Instagram: https://www.instagram.com/ambitiousbookkeeper
• Connect on Threads: https://www.threads.net/@ambitiousbookkeeper
• Connect on Facebook: https://www.facebook.com/serenashoupcpa

Podcast Publishing Tools we use:

• Editing → Sabr Media LLC: https://www.iangilliam.com/sabr-media-llc
• Descript: https://get.descript.com/u7lubkx09073 (affiliate link)
• Buzzsprout: https://www.buzzsprout.com/?referrer_id=1753696 (affiliate link)

Send us a text

In this episode, I'm answering an audience question about whether the nonprofit sector is a viable niche for a new bookkeeping firm. I dive deep into the pros and cons of specializing in nonprofits and share actionable strategies for making this niche work.

What You Can Expect to Hear

• How to overcome the common challenge of nonprofits expecting discounted pricing through value-based pricing strategies
• Specific scalability tactics including productizing services, choosing specialized software, and building efficient processes
• Networking strategies and the sweet spot for targeting mid-size nonprofits that have budget but haven't internalized their accounting function

For experienced bookkeepers & accountants:

• Learn how to start your bookkeeping business in The Bookkeeping Business Accelerator®: https://www.ambitiousbookkeeper.com/bba
• Grab my FREE Start your Bookkeeping Biz Checklist: https://www.ambitiousbookkeeper.com/checklist
• Grab my FREE New Client Onboarding Templates: https://www.ambitiousbookkeeper.com/onboard

For new bookkeepers:

• Learn the fundamental accounting skills in Katie Ferro's Become a Bookkeeper: https://www.katieferro.com/a/38894/2PQNgtvv

For online businesses:

• Become a client at my firm, Of Course Financial: https://www.ofcoursebookkeeping.com/contact

Connect with us:

• Visit our website: https://www.ambitiousbookkeeper.com
• Follow the Blog: https://www.ambitiousbookkeeper.com/blog
• Connect on Instagram: https://www.instagram.com/ambitiousbookkeeper
• Connect on Threads: https://www.threads.net/@ambitiousbookkeeper
• Connect on Facebook: https://www.facebook.com/serenashoupcpa

Podcast Publishing Tools we use:

• Editing → Sabr Media LLC: https://www.iangilliam.com/sabr-media-llc
• Descript: https://get.descript.com/u7lubkx09073 (affiliate link)
• Buzzsprout: https://www.buzzsprout.com/?referrer_id=1753696 (affiliate link)

Send us a text

In this eye-opening episode, Serena sits down with Meenadchi, an ancestral healing practitioner, to explore how intergenerational trauma impacts our relationship with money. This isn't your typical business conversation - we're diving deep into the personal stuff that affects how you run your business and serve your clients … and get a little woo!

In this episode you’ll hear:

• How trauma from your ancestors (even great-grandparents) lives in your body and affects your money decisions today
• Why your "difficult" clients might not be responding because of their own money trauma - and how understanding this changes everything
• The surprising science behind why we existed in our grandmother's bellies and what that means for inherited patterns
• Practical exercises you can do right now to start healing your relationship with money, including writing a letter TO money

Resources mentioned in this episode:

• Free money magic meditation: https://meenadchi.myflodesk.com/moneymagic
• Trauma of Money™: https://www.thetraumaofmoney.com/
• Creme de la Creme Networking Group: https://cremedelacreme.coachesandcompany.com/

Meet Meenadchi

Meenadchi (she/her) is an ancestral healing practitioner, TEDx speaker, and communications expert whose work centers social change and embodied transformation. Using the modality of Family Constellation Therapy, Meenadchi supports socially-conscious changemakers and entrepreneurs heal inherited and ancestral money trauma, so that we can be paid well for our work and so that we can pour funds into our communities from a state of overflow instead of self-sacrifice. Meenadchi holds a clinical license in occupational therapy and has historically served communities impacted by gender-based violence, complex trauma, and serious mental illness. She is the author of Decolonizing Non-Violent Communication (2019) and is a faculty member with the Trauma of Money™.

Connect with Meenadchi

Website: http://meenadchi.com/

Linkedin: https://www.linkedin.com/in/meenadchi/

Instagram: https://www.instagram.com/with.meenadchi/

Thanks for listening. If this episode inspired you in some way, take a screenshot of you listening on your device and post it to your Instagram stories and tag me @ambitiousbookkeeper

For more information about the Ambitious Bookkeeper Podcast or interest in our programs or mentoring visit our resources below:

• Visit our website: https://www.ambitiousbookkeeper.com
• Follow the Blog: https://www.ambitiousbookkeeper.com/blog
• Connect on Instagram: https://www.instagram.com/ambitiousbookkeeper
• Connect on Threads: https://www.threads.net/@ambitiousbookkeeper
• Connect on Facebook: https://www.facebook.com/serenashoupcpa

Thank you for your support of our show. If you haven’t left a review yet it’s super simple. Please go to ambitiousbookkeeper.com/podcast and leave your review.

Podcas

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In this May Q&A episode, Serena dives deep into the practical side of building a bookkeeping business, covering everything from software partnerships and pricing strategies to finding your niche and standing out from the competition. She shares real-world advice on working with Xero and Gusto, addresses common struggles with client onboarding, and provides actionable tips for bookkeepers at every stage of their journey.

In this episode you’ll hear:

• How to handle software costs and partnerships with Xero and Gusto
• Strategies to differentiate yourself in a crowded bookkeeping market
• The real talk on choosing your niche and why you shouldn't let others talk you out of what you love
• Game-changing client onboarding tactics that eliminate problem clients from day one

Resources mentioned in this episode:

• Xero, Gusto, QBO, Hubdoc, Jet Convert, Dubsado, Relay Bank, Squarespace, Kajabi, Bluehost & Hover
• Bookkeeping Business Accelerator (BBA): https://www.ambitiousbookkeeper.com/bba
• BBA VIP upgrade option
• Squarespace for Bookkeepers program by Tia: https://www.riledupgoats.com/ssfb
• Bookkeeping Biz Workshops (coming August, evenings, 3 days)

Thanks for listening. If this episode inspired you in some way, take a screenshot of you listening on your device and post it to your Instagram stories and tag me @ambitiousbookkeeper

For more information about the Ambitious Bookkeeper Podcast or interest in our programs or mentoring visit our resources below:

• Visit our website: https://www.ambitiousbookkeeper.com
• Follow the Blog: https://www.ambitiousbookkeeper.com/blog
• Connect on Instagram: https://www.instagram.com/ambitiousbookkeeper
• Connect on Threads: https://www.threads.net/@ambitiousbookkeeper
• Connect on Facebook: https://www.facebook.com/serenashoupcpa

Thank you for your support of our show. If you haven’t left a review yet it’s super simple. Please go to ambitiousbookkeeper.com/podcast and leave your review.

Podcast Publishing Tools we use:

• Editing → Sabr Media LLC: https://www.iangilliam.com/sabr-media-llc
• Descript: https://get.descript.com/u7lubkx09073 (affiliate link)
• Buzzsprout: https://www.buzzsprout.com/?referrer_id=1753696 (affiliate link)

Join the next free training at ambitiousbookkeeper.com/training

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It’s the 200th episode of The Ambitious Bookkeeper Podcast and Serena pulls back the curtain on her bookkeeping firm's 2024 performance, sharing both the wins and challenges. She gets real about client churn, revenue growth, personal struggles with mold toxicity, and the hard lessons learned about communicating with clients who aren't taking crucial financial advice.

In this episode you’ll hear:

• Client management reality check - How one client's bankruptcy and fraud issues led to major communication style changes
• Personal health struggles - Living in toxic mold for 2 years and how it affected business decisions and energy levels
• 2025 strategy shifts - Moving away from high-ticket CFO services toward team-handled base packages for better work-life balance

Resources mentioned in this episode:

• Episode 175 | Threads: Is it Worth it? https://youtu.be/Ola7HlpRy2U
• Elevate: https://www.ambitiousbookkeeper.com/elevate
• Elevate Mastermind (only for program graduates)
• Dubsado Decoded (with Kendra Courtney): https://kendracourtney.com/dubsado-decoded/
• AI Unlocked Summit registration: https://ambitiousbookkeeper--gemmabonhamcarter.thrivecart.com/ai-unlocked/619bde31ff59d/
• Bookkeeping Biz Workshops (launching August 2025)
• Xero, QBO, Hubdoc, ChatGPT, Asana, Airtable, TaxJar, A2X, Dubsado
• Business by Design (James Wedmore's program): https://www.jameswedmoretraining.com/
• Xero Con, Podcasting Moms Conference, BBD Live, Wave Seattle
• Prescott Area Young Professionals

Thanks for listening. If this episode inspired you in some way, take a screenshot of you listening on your device and post it to your Instagram stories and tag me @ambitiousbookkeeper

For more information about the Ambitious Bookkeeper Podcast or interest in our programs or mentoring visit our resources below:

• Visit our website: https://www.ambitiousbookkeeper.com
• Follow the Blog: https://www.ambitiousbookkeeper.com/blog
• Connect on Instagram: https://www.instagram.com/ambitiousbookkeeper
• Connect on Threads: https://www.threads.net/@ambitiousbookkeeper
• Connect on Facebook: https://www.facebook.com/serenashoupcpa

Thank you for your support of our show. If you haven’t left a review yet it’s super simple. Please go to ambitiousbookkeeper.com/podcast and leave your review.

Podcast Publishing Tools we use:

• Editing → Sabr Media LLC: https://www.iangilliam.com/sabr-media-llc
• Descript: https://get.descript.com/u7lubkx09073 (affiliate link)
• Buzzsprout: https://www.buzzsprout.com/?referrer_id=1753696 (affiliate link)

Join the next free training at ambitiousbookkeeper.com/training

Send us a text

This episode comes from April’s Live Q&A session, where Serena answered various questions from bookkeepers about pricing strategies, software recommendations, financial statement presentation, and business growth challenges.

In this episode you’ll hear:

• Learn how to confidently set your prices for bookkeeping setups and avoid undercharging
• Discover effective ways to present financial statements that truly benefit your clients
• Find out how to balance multiple professional identities on LinkedIn
• Get strategies for taking a break from your bookkeeping business without losing clients

Resources mentioned in this episode:

• Podcast episode: "177 | Crafting Deliverables That Matter" https://youtu.be/sb_9SYI82h0
• The Bookkeeping Business Accelerator: https://www.ambitiousbookkeeper.com/bba
• Elevate program: https://www.ambitiousbookkeeper.com/elevate
• Email subscription: https://www.ambitiousbookkeeper.com/subscribe
• Payment processors: Stripe, PayPal, GoCardless, Pluto
• Workflow Queen (Alyssa Lang): https://www.workflowqueen.com
• Accounting software: Xero, QuickBooks, Wave
• Payroll: Gusto
• Client management: Dubsado
• Spotify playlists for The Ambitious Bookkeeper Podcast

Thanks for listening. If this episode inspired you in some way, take a screenshot of you listening on your device and post it to your Instagram stories and tag me @ambitiousbookkeeper

For more information about the Ambitious Bookkeeper Podcast or interest in our programs or mentoring visit our resources below:

• Visit our website: https://www.ambitiousbookkeeper.com
• Follow the Blog: https://www.ambitiousbookkeeper.com/blog
• Connect on Instagram: https://www.instagram.com/ambitiousbookkeeper
• Connect on Threads: https://www.threads.net/@ambitiousbookkeeper
• Connect on Facebook: https://www.facebook.com/serenashoupcpa

Thank you for your support of our show. If you haven’t left a review yet it’s super simple. Please go to ambitiousbookkeeper.com/podcast and leave your review.

Podcast Publishing Tools we use:

• Editing → Sabr Media LLC: https://www.iangilliam.com/sabr-media-llc
• Descript: https://get.descript.com/u7lubkx09073 (affiliate link)
• Buzzsprout: https://www.buzzsprout.com/?referrer_id=1753696 (affiliate link)

Join the next free training at ambitiousbookkeeper.com/training

Send us a text

In this episode of the Ambitious Bookkeeper Podcast, Serena chats with Maggie Lord, a powerhouse entrepreneur who sold her media company to David's Bridal and now helps female founders do the same. Maggie shares her journey from starting a wedding blog in 2008 to selling her company 12 years later, and reveals insider knowledge about business valuations, exit strategies, and how bookkeepers play a crucial role in preparing businesses for sale.

In this episode you’ll hear:

• Why Maggie is passionate about helping female founders prepare their businesses for acquisition
• The three common scenarios when founders seek M&A help
• How bookkeepers play a key role in successful M&A transactions
• Beyond-the-numbers valuation factors that founders often overlook

Resources mentioned in this episode:

• The Whisper Group: https://www.wearethewhispergroup.com/

Meet Maggie

Maggie Lord was an early pioneer in the online digital wedding media space establishing her media company, Rustic Wedding Chic in 2008. As the founder + CEO of Rustic Wedding Chic, Maggie led the company for 12 years before it was acquired by David’s Bridal in 2020. Maggie is also the author of 6 books. Today, Maggie has become a sought-after strategic advisor to female founded brands allowing her to focus on sharing her knowledge and expertise with other like minded entrepreneurs, startups and small businesses. Maggie and her businesses have been featured in Forbes, The New York Times, Business Insider, Success Magazine and much more. Maggie is a partner at The Whisper Group, working daily with female founders to help them sell their companies and close the exit gap.

Connect with Maggie

📱 IG: https://www.instagram.com/maggielordandcompany/

🌐 Website: https://maggielord.com/

Thanks for listening. If this episode inspired you in some way, take a screenshot of you listening on your device and post it to your Instagram stories and tag me @ambitiousbookkeeper

For more information about the Ambitious Bookkeeper Podcast or interest in our programs or mentoring visit our resources below:

• Visit our website: https://www.ambitiousbookkeeper.com
• Follow the Blog: https://www.ambitiousbookkeeper.com/blog
• Connect on Instagram: https://www.instagram.com/ambitiousbookkeeper
• Connect on Threads: https://www.threads.net/@ambitiousbookkeeper
• Connect on Facebook: https://www.facebook.com/serenashoupcpa

Thank you for your support of our show. If you haven’t left a review yet it’s super simple. Please go to ambitiousbookkeeper.com/podcast and leave your review.

Podcast Publishing Tools we use:

• Editing → Sabr Media LLC: https://www.iangilliam.com/sabr-media-llc
• Descript: https://get.descript.com/u7lubkx09073 (affiliate link)
• Buzzsprout: https://www.buzzsprout.com/?referrer_id=1753696 (affiliate link)

Join the next free training at ambitiousbookkeeper.com/training

Send us a text

Are you dreaming of starting your own bookkeeping business but feeling overwhelmed by all the decisions you need to make? You're not alone. As someone who's built a successful bookkeeping practice from scratch, I know firsthand that figuring out what services to offer, how to price them, where to find clients, and what technology you need can feel like navigating a maze.

In this episode you’ll hear:

• Advice on determining pricing strategies for bookkeeping services
• Practical methods for finding clients
• Recommendations for essential tech tools for new bookkeepers
• What bookkeeping services are most in-demand and how to decide which ones to offer

Resources mentioned in this episode:

• Ambitious Bookkeeper Free Training: http://www.ambitiousbookkeeper.com/training
• Mini Courses: http://www.ambitiousbookkeeper.com/store
  • Pricing for Profit
  • Bookkeeping Client Closer
• Bookkeeping Business Accelerator: http://www.ambitiousbookkeeper.com/bba
• Software tools mentioned:
  • QuickBooks
  • Xero
  • Shopify
  • TaxJar
  • A2X
  • Hubdoc
  • Calendly
  • Google Suite/Workspace
  • Zoom
  • Loom
  • Asana
  • Canva
  • Dubsado

Thanks for listening. If this episode inspired you in some way, take a screenshot of you listening on your device and post it to your Instagram stories and tag me @ambitiousbookkeeper

For more information about the Ambitious Bookkeeper Podcast or interest in our programs or mentoring visit our resources below:

• Visit our website: https://www.ambitiousbookkeeper.com
• Follow the Blog: https://www.ambitiousbookkeeper.com/blog
• Connect on Instagram: https://www.instagram.com/ambitiousbookkeeper
• Connect on Threads: https://www.threads.net/@ambitiousbookkeeper
• Connect on Facebook: https://www.facebook.com/serenashoupcpa

Thank you for your support of our show. If you haven’t left a review yet it’s super simple. Please go to ambitiousbookkeeper.com/podcast and leave your review.

Podcast Publishing Tools we use:

• Editing → Sabr Media LLC: https://www.iangilliam.com/sabr-media-llc
• Descript: https://get.descript.com/u7lubkx09073 (affiliate link)
• Buzzsprout: https://www.buzzsprout.com/?referrer_id=1753696 (affiliate link)

Join the next free training at ambitiousbookkeeper.com/training