The Accounting Edit

The Accounting Edit
  • 5.0 (2)
  • Entrepreneurship
  • Biweekly

The Accounting Edit is where real conversations meet real numbers. Hosted by two women accounting firm owners, we’re pulling back the curtain on what it’s actually like to build a modern accounting practice—while helping small business owners make sense of their finances. Whether you’re a fellow firm owner, a service-based entrepreneur, or just curious about the behind-the-scenes of running a business, you’ll find honest insights, practical advice, and plenty of moments that make you feel like you’re not alone.

  1. 2d ago

    39. 5 Things to do Before Year-End to Get Your Books Ready

    Leah McCool of Orca Accounting and Aminder Mann ofSequoia CPA share five practical steps to prepare small business books before year-end. They explain how to catch up and clean up bookkeeping, prepare for 1099 filings, review financial statements, and decide when to get professional help so January and tax season are less stressful.   Takeaways ·     Assess how far behind your books are, estimate the time required, and catch up month by month; reconcile bank and credit card accounts and verify processor revenue at gross rather than net of fees. ·     Schedule dedicated bookkeeping time and allow realistic hours, especially when transaction volume, adjustments, or revenue reconciliations add complexity. ·     Resolve uncategorized or mystery transactions, check for duplicates, and review open invoices, accounts receivable and payable, and QuickBooks undeposited funds. ·     Prepare contractor information ahead of 1099 season: track payments, gather W-9s, and verify which contractors and payment types require forms. Leah cites a $2,000 threshold for 2026 and a January 31 filing deadline; confirm current IRS requirements for your situation. ·     Review financial statements line by line using a worksheet, spot-check transactions, and compare current-year results with last year to investigate unexpected changes. ·     Check balance-sheet items such as loan balances and interest, and ensure the financials make sense before using them for planning or tax preparation. ·     Consider one-time cleanup or ongoing support if bookkeeping feels overwhelming; getting help sooner can reduce delays and busy-season costs.   Chapters 00:00 Five year-end steps to avoid a January bookkeepingscramble 01:49 Gauge your backlog and catch up one month at a time 04:03 Estimate the hours and schedule bookkeeping time 06:03 Clean up uncategorized, duplicate, and mystery transactions 08:33 Check invoices, payables, and undeposited funds 11:47 Get contractor records ready for 1099 filing 14:51 Why payment method and business structure matter for 1099s 16:18 Review statements line by line and compare year over year 20:05 Check balance-sheet balances, loans, and interest 22:11 When to get cleanup help, and why to start early   Website: TheAccountingEdit.com Aminder's Links Website: sequoia-cpa.com Instagram: @sequoiacpa LinkedIn: linkedin.com/company/sequoia-cpa   Leah's Links Website: orca-accounting.com Instagram: @orcaaccounting LinkedIn: linkedin.com/in/leahmccool  Keywords: year-end bookkeeping, small business accounting, bookkeeping cleanup, 1099 contractors, financial statements, QuickBooks, tax preparation

  2. Oct 15

    38. 4 Tips For Getting Better At DIY Accounting

    This episode offers practical tips for DIY accounting, focusing on routine, organization, checklists, and structuring your chart of accounts to simplify your bookkeeping process and prepare for tax season.   Takeaways ·     Scheduling regular time for bookkeeping ·     Organizing documentation and receipts ·     Creating monthly checklists for accounting ·     Structuring and simplifying the chart of accounts ·     Using account numbers for clarity and consistency   Chapters 00:00 Introduction to DIY accounting tips 00:11 Importance of routine in bookkeeping 01:10 Scheduling time and making it routine 02:25 Organizing documentation and receipts 03:40 Creating monthly checklists for accounting 16:14 Structuring your chart of accounts 23:20 Wrapping up and next steps   Website: TheAccountingEdit.com Aminder's Links Website: sequoia-cpa.com Instagram: @sequoiacpa LinkedIn: linkedin.com/company/sequoia-cpa   Leah's Links Website: orca-accounting.com Instagram: @orcaaccounting LinkedIn: linkedin.com/in/leahmccool   Keywords: DIY accounting, bookkeeping tips, small business finance, organization, chart of accounts, routine, documentation, tax preparation

    38. 4 Tips For Getting Better At DIY Accounting

  3. Oct 1

    37. Get to know us! This or that, and more.

    Leah and Aminder share lighthearted insights into their personal and professional lives, exploring topics from work preferences to pet choices, and seasonal favorites. This episode offers a fun break and a chance to get to know the hosts better.   Takeaways ·     Meetings vs. emails: preferences and hybrid approaches ·     Career paths: startup vs. traditional accounting ·     Work schedule preferences: morning vs. afternoon meetings ·     Pet choices: dogs vs. cats and lifestyle fit ·     Seasonal favorites: summer vs. fall and weather preferences ·     Coffee vs. tea: favorite types and routines ·     Technology preferences: Mac vs. PC ·     Networking strategies: working the room vs. finding a friend ·     Career achievements vs. lifestyle freedom ·     Routine vs. spontaneity in daily life   Chapters 00:00 Introduction and episode overview 00:49 Getting to know the hosts and episode purpose 01:53 Meetings or emails: preferences and hybrid methods 04:15 Career paths: startup versus traditional accounting 07:38 Scheduling meetings: morning or afternoon 11:12 Pets: dogs or cats and lifestyle considerations 13:55 Coffee or tea: preferences and routines 18:00 Tech preferences: Mac or PC 22:20 Seasonal favorites: summer or fall 26:33 Work routines and spontaneity 26:34 Closing remarks and episode wrap-up   Website: TheAccountingEdit.com Aminder's Links Website: sequoia-cpa.com Instagram: @sequoiacpa LinkedIn: linkedin.com/company/sequoia-cpa   Leah's Links Website: orca-accounting.com Instagram: @orcaaccounting LinkedIn: linkedin.com/in/leahmccool   Keywords: accounting, entrepreneurship, work habits, pets, coffee, routines, seasons, networking, lifestyle, career

  4. Sep 17

    36. What Your Bookkeeper Should Actually be Doing Every Month

    This episode clarifies what a bookkeeper should do eachmonth, emphasizing the importance of accurate financial management for business owners. Leah McCool and Aminder Mann discuss the key responsibilities involved in bookkeeping beyond simple data entry, including reconciliations, reviewing financial statements, and understanding the nuances of categorizing transactions.   Takeaways ·     Reconciling bank and credit card accounts ·     Reviewing financial statements for accuracy ·     Categorizing transactions correctly ·     Understanding balance sheet components ·     Analyzing financial trends and movements ·     Ensuring proper recording of assets and liabilities ·     Flagging discrepancies and negative balances ·     The importance of a consistent bookkeeping flow   Chapters 00:00 Introduction to Bookkeeping Responsibilities 00:47 What Bookkeepers Should Do Monthly Beyond Data Entry 02:04 Reconciling Bank and Credit Card Accounts 03:11 Reviewing Financial Statements for Accuracy 04:58 Supporting Business Decisions with Financial Data 06:27 Holistic Review of Financials and Flagging Issues 07:07 Understanding the Balance Sheet and Its Components 08:48 Verifying Assets, Liabilities, and Equity 12:20 Ensuring Transactions Are Accounted for Correctly 18:28 Reviewing Financials for Errors and Trends 23:45 The Value of Human Judgment in Bookkeeping 25:07 Conclusion: Reliable Financial Statements for Business Success   Website: TheAccountingEdit.com Aminder's Links Website: sequoia-cpa.com Instagram: @sequoiacpa LinkedIn: linkedin.com/company/sequoia-cpa   Leah's Links Website: orca-accounting.com Instagram: @orcaaccounting LinkedIn: linkedin.com/in/leahmccool  Keywords: bookkeeping, financial statements, reconciliation, business finance, accounting, financial accuracy, bookkeeping responsibilities, financial review, small business accounting

    36. What Your Bookkeeper Should Actually be Doing Every Month

  5. Sep 3

    35. Separating Business & Personal Finances

    This episode explores the importance of separating business and personal finances for small business owners. Leah and Aminder discuss practical steps, common pitfalls, and how to establish good financial habits to ensure clarity and compliance.   Takeaways ·     Keep business and personal accounts separate to ensure clarity. ·     Regularly review and clean up your financial records. ·     Work with a tax professional to identify deductible expenses. ·     Plan your owner’s pay based on business profitability and cash flow. ·     Avoid impulsive owner draws; plan withdrawals carefully.   Chapters 00:00 Introduction to the importance of financial separation 01:03 Problems caused by mixing finances 01:58 Why small business owners must separate accounts 05:35 What should and shouldn't be in your accounting software 07:56 Common mistakes with personal and business accounts 11:35 Understanding the 'why' behind financial separation 14:47 How to determine how much to pay yourself 22:10 Paying yourself as a business owner 27:55 Handling already mixed finances and next steps   Website: TheAccountingEdit.com Aminder's Links Website: sequoia-cpa.com Instagram: @sequoiacpa LinkedIn: linkedin.com/company/sequoia-cpa   Leah's Links Website: orca-accounting.com Instagram: @orcaaccounting LinkedIn: linkedin.com/in/leahmccool   Keywords: business finances, personal finances, bookkeeping, cash flow, tax planning, business growth, financial management,QuickBooks, owner’s salary, financial separation

    35. Separating Business & Personal Finances

  6. Aug 20

    34. Things We Stopped Doing in Our Businesses

    In this episode, Aminder and Leah share the key lessonsthey've learned by intentionally letting go of certain business practices to foster growth, balance, and fulfillment. They discuss how saying no, delegating, and embracing imperfection have transformed their businesses and lives.   Takeaways ·     Saying no to opportunities to focus on aligned clients ·     Protecting time and setting boundaries ·     Hiring first employees and delegating tasks ·     Letting go of perfectionism and embracing progress ·     Creating a business that can operate independently ·     Balancing business growth with personal life ·     Strategies for effective delegation and training ·     Shifting mindset from operator to visionary ·     Planning for time off and future family needs ·     The importance of progress over perfection   Chapters 00:00 Introduction: Lessons Learned by Letting Go 01:48 Saying No to Unaligned Opportunities 03:47 Protecting Time and Setting Boundaries 05:57 Hiring and Delegating for Growth 09:00 From Operator to Visionary 12:07 Planning for Time Off and Future Family Needs 15:08 Overcoming Perfectionism and Embracing Progress 17:45 Key Takeaways: Growth Through Letting Go   Website: TheAccountingEdit.com Aminder's Links Website: sequoia-cpa.com Instagram: @sequoiacpa LinkedIn: linkedin.com/company/sequoia-cpa   Leah's Links Website: orca-accounting.com Instagram: @orcaaccounting LinkedIn: linkedin.com/in/leahmccool   Keywords: business growth, intentionality, delegation, work-life balance, perfectionism, entrepreneurship, business lessons, mindset, productivity, leadership

    34. Things We Stopped Doing in Our Businesses

  7. Aug 6

    33. The Financial Red Flags Every Business Owner Should Know

    In this episode, Leah and Aminder discuss five key financial red flags that every business owner should watch out for. Understanding these signs can help prevent serious issues and promote healthier business finances.   Takeaways ·     Revenue growth vs bank account growth ·     Importance of cash flow over revenue ·     Knowing your financial numbers ·     Keeping books up to date ·     Monitoring profit margins   Chapters 00:00 Introduction to Financial Red Flags 01:39 Red Flag 1: Revenue is growing, but your bank account isn’t. 05:23 Red Flag 2: Your making decisions based on your bank balance 09:52 Red Flag 3: You don’t know your numbers 13:04 Red Flag 4: Your books are always behind 16:20 Red Flag 5: Your profit keeps shrinking 19:37 Takeaways   Website: TheAccountingEdit.com Aminder's Links Website: sequoia-cpa.com Instagram: @sequoiacpa LinkedIn: linkedin.com/company/sequoia-cpa   Leah's Links Website: orca-accounting.com Instagram: @orcaaccounting LinkedIn: linkedin.com/in/leahmccool   Keywords: business finance, red flags, cash flow, financial statements, profitability, bookkeeping, financial health, business growth, cash flow forecasting, financial management

    33. The Financial Red Flags Every Business Owner Should Know

  8. Jul 9

    32. Our Tech Stack: Accounting, Payroll, AP, AR, Timekeeping, Project Management, etc.

    In this episode, Leah and Aminder share their insights onessential business softwares including accounting, payroll, accounts payable, receivable, and project management tools. Perfect for entrepreneurs and growing firms, this discussion helps you choose the right tech stack to streamline your operations.   Takeaways ·     Choosing between QuickBooks Online and Zero foraccounting ·     Best payroll software: Gusto vs QuickBooksPayroll ·     Managing accounts payable with Bill.com andTipalti ·     Accounts receivable solutions: HoneyBook andStripe ·     Top project management tools: Asana, Toggl,Smartsheet   Chapters 00:00 Introduction to Business Software Essentials 01:07 QuickBooks Online vs Zero: Which is Better? 08:32 Why Gusto is a Top Payroll Choice 15:38 Managing Accounts Payable Effectively 19:39 Streamlining Accounts Receivable 24:28 Best Project Management and Time Tracking Tools 28:12 Wrapping Up: Choosing Your Software Stack   Website: TheAccountingEdit.com Aminder's Links Website: sequoia-cpa.com Instagram: @sequoiacpa LinkedIn: linkedin.com/company/sequoia-cpa   Leah's Links Website: orca-accounting.com Instagram: @orcaaccounting LinkedIn: linkedin.com/in/leahmccool   Keywords: business software, accounting, payroll, AP, AR, project management, entrepreneurship, tech stack, QuickBooks, Zero, Gusto, Bill.com, HoneyBook, Toggl

    32. Our Tech Stack: Accounting, Payroll, AP, AR, Timekeeping, Project Management, etc.
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About

The Accounting Edit is where real conversations meet real numbers. Hosted by two women accounting firm owners, we’re pulling back the curtain on what it’s actually like to build a modern accounting practice—while helping small business owners make sense of their finances. Whether you’re a fellow firm owner, a service-based entrepreneur, or just curious about the behind-the-scenes of running a business, you’ll find honest insights, practical advice, and plenty of moments that make you feel like you’re not alone.

Information

  • Creator
    The Accounting Edit
  • Years Active
    2025 - 2026
  • Episodes
    39
  • Rating
    Clean
  • Copyright
    © The Accounting Edit
  • Show Website
    The Accounting Edit