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As a small business owner, you need to know that bookkeeping and accounting are two of the most important aspects of your business. But do you know why? And are you doing everything you can to make sure these aspects of your business are running smoothly? Nesha Pai shares the importance of bookkeeping and accounting and how we can improve our businesses by following her tips.

 

 

Highlights:

02:43 The biggest mistake I see people make is not immediately getting set up properly from the legal and financial perspective and then as basic as getting QuickBooks. 

03:40 Get your foundation set for the kind of company you aspire to be. So if you aspire to be a million-dollar company, set your foundation up as if you already are.

06:48 The interesting thing about deductions is unless you get audited, you really can deduct whatever I say, be reasonable. 

12:04 I work on the financial statements in the bookkeeping, so then I hire bookkeepers under me who know how to do the transactional work but then I provide the higher level.

12:47 It’s worth the extra money to go to a CPA and I’m not saying every CPA’s good out there, they’re not. What I am saying though is there’s an extra level of accountability.

 


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Connect with Nesha
Websites: neshapai.com
Instagram: @neshapai

Connect with Welcome to Eloma
Instagram: @WelcometoEloma
Website: WelcometoEloma.com
Weekly Email Newsletter: bit.ly/RIXEmail 

Connect with Kiley
Social: @kileypeters + Linkedin.com/in/kileypeters
Websites: RAYNEIX.com, BrainchildStudios.com, KileyPeters.com
Weekly Email Newsletter: bit.ly/RIXEmail
Email: info@rayneix.com

 

Nesha Pai’s Bio

Nesha Pai is the founder of Pai CPA, PLLC in Charlotte, NC. She graduated Magna Cum Laude from NC State University and has held her CPA license since 1996, after passing her first attempt at the exam as a senior. She began her career and cultivated her passion for helping businesses within the world-renowned accounting firm Arthur Andersen, and later within multiple, privately held Fortune 500 companies as a business consultant, relationship facilitator, and accounting analyst. She realized she had a strong pull towards the small business and entrepreneurial sector.

Since starting her own firm in 2011, Nesha has continued nourishing her vision and the business growth of the Queen City by  launching a podcast series, ‘Piece of the Pai,’ that focuses on successful  entrepreneurs sharing their business insight. In January 2020 , Nesha published her book “Overcoming Ordinary Obstacles”, which won the award in the Multicultural Non-Fiction category by the American Book Fest.  She has been a Charlotte resident since 1993, and was named as one of the Top 50 Most Influential Women of 2020 in the Mecklenburg Times. and was in the 2021 cast of DWTS Charlotte for Carolina Breast Friends.

 

Kiley Small Business Strategist

Kiley Peters is a serial entrepreneur and small business strategist. She built and exited an international award winning agency to launch her executive consultancy helping women live the lives they want through entrepreneurship. She is on a mission to help 1 million women build more financially free and fulfilling lives through her founding of RAYNE IX–an executive consultancy helping women fast-track the launch and growth of their consulting practice so they can have greater flexibility, autonomy, and ownership of their lives –and The 100 Collective, a membership and directory for women service-based small business owners who are committed to helping other women succeed. She’s also the host of Welcome to Eloma, a podcast for visionaries, entrepreneurs, and business owners who want to become better leaders, people, and pioneers.

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