Running a business without solid financial systems is like driving with your eyes closed. It’s risky, stressful, and unsustainable. This checklist covers the non-negotiables every small business owner must have in place to avoid the chaos and keep things on track.

Whether you’re in your first year or five years in, these seven financial must haves are what I make sure every client of mine is across, because they’re the difference between winging it and running a profitable, compliant business.

This isn’t a scare tactic. It’s a practical guide to help you stay in control, avoid costly surprises, and make smarter money moves with confidence. You don’t need to know everything, but you do need a solid handle on the essentials or the right expert in your corner.

If you're unsure whether your financial setup is working for you or against you, this episode is your starting point.

Here’s what’s covered:

• The two business bank accounts I consider non-negotiable (yes, two)
• The mistake I see far too often when it comes to GST
• Why staying “sort of” up to date with your numbers won’t cut it
• What should always be on your invoices, and when it’s missing what it says about you and your business
• The smartest move you can make, even if you're not a finance person

Links & Resources Mentioned in This Episode:

• Previous Podcast Ep: 78 Is Your Tax Invoice Giving Me a Headache?
• Bookkeeping Matters Learning Hub
• Blog post: The 6 Bank Accounts Every Business Needs

Pricing is one of the trickiest parts of running a business, and it’s also one of the easiest ways to watch your profit disappear. If you’re working non stop, but cash still feels tight, chances are your pricing strategy is the problem (whether you realise it or not).

In this episode, I’m breaking down the exact mistakes I see female-led businesses making with their pricing. It's the same traps I’ve seen with my own clients, and even faced myself. From guessing your prices and forgetting hidden costs, to relying on outdated models or chasing competitors’ rates, these issues chip away at your profit fast. The good news? Once you know what to look for, you can turn things around.

I’ll walk you through the practical steps to review your pricing properly. So you can make sure it covers all your true costs (including those sneaky ones like admin time, taxes, and overheads), supports your goals, and keeps your business sustainable. No fancy spreadsheets needed, just simple, actionable advice to get you back on track.

If pricing has ever felt overwhelming or you’ve been putting off a proper review, this is your reminder small changes can make a massive difference to your bottom line.

Here’s what’s covered:

• Why “set and forget” pricing is a recipe for profit loss, and how often you should review your prices
• The danger of hourly pricing when your business evolves (and how one client turned things around by switching models)
• What happens when you copy competitors’ pricing, and why it usually backfires
• The true costs you need to build into your pricing to avoid accidentally working for free
• Why discounting feels like a quick win but can seriously damage your brand and long-term profit
• How to set clear pricing boundaries and focus on value instead of dropping your prices

Links & Resources Mentioned in This Episode:

• Free Tool Pricing Calculator
• Previous Podcast Ep: 19 Pricing for Profit (and Mistakes to Avoid)
• Previous Podcast Ep: 82 Beyond Profit: Why Adding Value Matters Most
• Watch this episode on YouTube

Running a small business often means wearing many hats, but when it comes to bookkeeping, trying to DIY can hold you back more than help. If you’re serious about growth, it’s time to stop thinking of a bookkeeper as someone who merely clicks buttons in Xero. The right bookkeeper becomes part of your team, helping you make confident, informed decisions and setting your business up for sustainable success.

Bookkeeping goes beyond data entry, it plays a key role in your business growth. From cleaning up messy accounts to setting up smarter systems and giving you the financial clarity you need to scale, this episode is packed with insight. Whether you’re overwhelmed by overdue invoices or unsure how much to set aside for BAS, after this episode you’ll walk away understanding exactly how a proactive bookkeeper can help move your business forward.

Here’s what’s covered:

• How a great bookkeeper helps you see the full picture of your business
• The unexpected ways they can support your decision making and strategy
• Why you don’t need to have it all figured out before working with a bookkeeper
• How they help you stay focused on what matters
• What it looks like when your numbers finally start working for you

Links + Resources :

• Podcast Episode 09: Bookkeeper vs Accountant
• Podcast Episode 36:Hiring a Bookkeeper? Here’s What You Need To Know
• Podcast Episode 10: Should You Outsource or DIY your Books?
• Watch this episode on YouTube
• Learn more about working together with Accounted For You

Running a business while trying to maintain a personal life can feel like a never-ending juggling act. The pressure to be everywhere, do everything, and keep it all together is real, and exhausting. That’s why we’re stepping back to ask a more intentional question: is this helping create harmony, or is it feeding the overwhelm?

After a shaky 2024, the word harmony has become a guiding principle for me. Instead of striving for a perfect work-life balance (spoiler: it doesn’t exist), my focus has shifted to systems that support a flow between business and life, one that is flexible, realistic, and sustainable. I share what that looks like in practice with four systems that have helped me create harmony between work and life:

• Automating repetitive tasks. Whether it’s email rules, invoice reminders, or integrating tools, automation helps cut down manual work so you can focus on what matters most.
• Scheduling and Time Blocking. Create consistency and structure by scheduling tasks and batching them together. Time blocking helps protect your focus and ensures important things get done, without the mental clutter.
• Outsourcing the Right Tasks. You don’t need to do it all. Let go of tasks that drain your energy or take time away from your strengths. Think about where you add the most value and get help with the rest.
• Setting Boundaries. Define what works for you, whether that’s turning off notifications, not working Fridays, or saying no more often. Boundaries are essential for protecting your time, energy, and wellbeing.

Links + Resources

• Number News fortnightly email insights

Small changes can make a huge difference in your business. The right tweaks to your bookkeeping and financial habits can save time, improve cash flow, and help you feel more in control, all without adding more to your plate.

Efficiency is key, and it starts with reducing time spent on repetitive tasks. Are you still manually processing transactions that could be automated? Whether it’s setting up bank rules, batching expenses, or offering online payment options, there are smarter ways to handle your finances.

One simple shift? Automate your invoicing. Sending invoices manually not only takes time but can also lead to delays and cash flow issues. With automation, you streamline the process, get paid faster, and free up your focus for more important things.

Another game-changing habit? A weekly financial check-in. Instead of letting tasks pile up, block out a set time each week. Whether it’s Money Mondays or Finance Fridays, to review cash flow, send invoices, and stay on top of your accounts. This one habit alone can transform financial confidence and business growth.

Finally, don’t ignore your reports. Your bookkeeper isn’t sending them for fun! They’re a powerful tool for understanding your numbers. Start simple: find your gross profit and understand what it means. As you get comfortable, you’ll naturally start asking more questions and making smarter financial decisions

Links & Resources Mentioned in This Episode:

• Xero Money Saver Guide – Learn how to optimise your Xero set up.
• Blog post: Gross Profit vs. Net Profit – For a simple breakdown of gross profit.

After a year-long break from the podcast, I’m back! And there’s a lot to catch up on. While the podcast was on pause, my business, Accounted For You, definitely wasn’t. In fact, the past year has been full of growth, refining processes, and making big shifts in how we support clients.

In this episode, I share why I made the decision to step back from recording, the impact it had (both personally and professionally), and why now is the right time to return. I’ll walk through the behind-the-scenes changes in my business, what I’ve learned about prioritising the right things, and how stepping back in one area can sometimes be the best move for long-term sustainability.

If you’ve ever felt stretched thin in business or questioned whether you need to let something go (even temporarily), this episode is for you. Plus, I’ll share what’s ahead for the podcast and why I’m excited to get back to these conversations.

What you'll learn in this episode:

• Why I paused the podcast (and what I learned from it)
• How stepping back in one area gave me clarity in others
• The behind-the-scenes shifts at Accounted For You over the past year
• Why sustainability in business matters more than doing everything
• What’s next for the podcast and how it fits into the bigger picture

Small business isn’t for everyone but it might just be the perfect path for you. Although there are many perks of being your own boss, running a small business also comes with a variety of challenges that many people aren’t willing to take on. We all have different expectations for what we want out of life, which is why the decision to run a small business needs to be made with a lot of thought and care.

If you’re an aspiring entrepreneur, or perhaps you have an existing business and you’ve been questioning whether this gig is really for you, keep listening my friend. In this episode, I’m taking you through some of the benefits and drawbacks of being a small business owner so you can make an informed decision about the best path for you moving forward.

Embracing the Freedom and Passion

One of the most significant perks of running a small business is the freedom it offers. Being your own boss allows you to embrace your passion and make important decisions that align with your vision - but this freedom doesn't come without challenges. It requires self-discipline, the ability to wear multiple hats, and a constant drive to innovate.

Navigating the Challenges of Financial Independence

While financial independence is a significant benefit of small business ownership, there is also a flipside. Managing finances, navigating cash flow projections, and making strategic decisions require expertise and support. Whether you're adept at handling numbers or need to outsource this aspect, proper financial management is crucial for the success of your business.

Cultivating Creativity and Innovation

Creativity and innovation are at the heart of small business ownership. As the boss, you have the freedom to unleash your creativity, make decisions that set you apart, and adapt to market trends. While this offers exciting opportunities, it also places a significant responsibility on your shoulders. Balancing creativity with practicality and market demand is key to sustainable growth.

Ultimately, the decision to run a small business is a personal one that should reflect your strengths, passions, and values and there’s no shame in deciding that running your own business isn’t for you. Whether you choose to pursue small business ownership or explore other avenues, remember that your decision is a reflection of your courage, resilience, and commitment to personal and professional growth.

LINKS:

Join the waitlist for The Bookkeeping Matters Blueprint here

Connect with Lisa Turner:

Instagram: @accountedforyou

Website: https://accountedforyou.com.au/

Join my Numbers List for small business news and fun, helpful tips here

Grab some FREE Resources here

Check out my blog here

Today, we're going to dive into a fundamental aspect of running a small business in Australia – understanding business structures. The structure you choose will define how your business is organised, how it's managed, and of course, taxed.

Choosing the wrong structure can cause headaches down the road so it’s important to be informed before making a decision. If you have made the wrong decision though, don’t panic! I’ve been there myself, and while it costs some time and money, you can definitely change structures.

So whether you are starting a new business or reassessing your current structure, this episode will help you pick the perfect structure for you. Lets dive in to Australia’s three main types of small business structures:

1. Sole Trader
The sole trader structure is the most common choice for small business owners in Australia. It is cost-effective and easy to set up, making it an attractive option for those starting out on their own. In this structure, you, as an individual, are the business. This means there is no separation between your personal and business entities.

While being a sole trader offers simplicity and full control over decision-making, it also comes with unlimited liability. Without any separation, you are personally responsible for all aspects of the business including all its debts. Additionally, all the profits of the business will be taxed as your income.

2. Company
The company structure provides a separate legal entity for your business. This means the business enters into contracts, buys assets, and incurs liabilities in its own name, which offers some liability protection for the owners.

This is a great choice for businesses with multiple owners, significant assets, or plans for substantial growth. However, setting up a company requires a formal structure, which comes with more administrative tasks and costs. Don’t get discouraged though! A good tax specialist will be able to step you through this process if it’s the right one for you.

3. Trust
A trust is a unique business structure that holds assets on behalf of beneficiaries. It is not a separate legal entity but a relationship wherein a trustee manages the assets for the beneficiaries. Trusts are known for their flexibility in income distribution and asset protection, making them a common choice for family businesses. Keep in mind that setting up a trust is typically more complex and costly than other structures, so you’ll definitely want professional guidance.

LINKS:

Join the waitlist for The Bookkeeping Matters Blueprint here

Connect with Lisa Turner:

Instagram: @accountedforyou

Website: https://accountedforyou.com.au/

Join my Numbers List for small business news and fun, helpful tips here

Grab some FREE Resources here

Check out my blog here