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    Home | Tip Archive | Your business year end is quickly ap . . .
     

    Your business year end is quickly approaching
    LeaRae Keyes, RN
    Printer-Friendly Format

    Now is the time to begin closing your business books for year end. Chances are that the fiscal year for your nurse entrepreneur business is January 1 - December 31 unless you have a very good reason for choosing a different fiscal year. If your fiscal year coincides with the calendar year, it's time to be wrapping up your business accounting for the year end.

    What you do and how you do it will depend somewhat on what accounting method you are using for your nurse business. You will either be using a cash method or an accrual method. If you are using the cash method your income and deductions are taken as they are paid or received. If you are using the accrual method your income and deductions are applied as they are incurred. You will have elected which method of accounting you would be using when you set up your nurse business.

    When you set up your business you probably also made a decision as to if you would do your bookkeeping on paper or on your computer. When I first started, I had few transactions in my nurse entrepreneur business so I kept track of them on paper. As my business grew I converted to keeping track of my accounting on my computer. This has made getting information ready for my accountant so much easier! There are a number of software programs from which to choose if you are going to do your bookkeeping on your computer. I use QuickBooks Pro and find that it works very well for me.

    At this time of year it is a good time to review your accounting and be sure that you have entered everything that needs to be entered. Don't forget to track travel expenses, mileage, parking, entertainment, and other deductions for which you might need a receipt.

    If you need a form for recording your travel expenses, use one of the following links to download our travel expense report forms:
    Resolve to record your business travel expenses as you go!
    Business Travel Expense Reports

    Lastly, be sure you use some type of method to back up your system if you are doing your bookkeeping on your computer. Computers do crash and you don't want to lose the information you have worked so hard to input!




    Printer-Friendly Format
    ·  Getting Started with your Business Bookkeeping
    ·  10 tips for new nurse business owners
    ·  Getting Started
    ·  What to do when business is slow
    ·  Organize Workspace Tips-Get Your Work Life Organized Now
    ·  Tip - 1/18/2006 - Have you sent out your 1099s?
    ·  Resolve to record your business travel expenses as you go!
    ·  DOWNLOAD: Business Travel Expense Reports


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     Portal Testimonials

    What an awesome resource you are! Thank you for the work you do and share. This is such an empowering site, and provides a launch pad for those of us just trying to find a means of beginning.

    April Hopkins-Freeman
    Louisville, NE


    THANK YOU SO MUCH!!! It was a pleasure speaking with you today, and our conversation was most insightful. I'm so happy you are there. I will keep in touch. Keep up the great work!

    Stephanie Johnson
    Nursing Staff Solutions
    Lake Balboa, CA

    LeaRae, thank you for [the MasterMind group] and to everyone else for sharing of yourselves and your visions! You each are an inspiration and I just love the fact that opportunity abounds for us to be successful in our chosen profession.

    Mary Pat DeWald
    Evergreen, CO

    I had the benefit of one on one with LeaRae, and the information exchanged was exciting, intriguing, as well as educational. What a wonderful teacher. LeaRae allows you the freedom to brainstorm and encourages new thoughts. She is not afraid of unusual or different ideas. Everything you might expect in an entrepreneur. I would strongly encourage others to join the forums, but also take part of the community she is building.

    I think she is a wonderful coach and her web site is a reflection of that. Thank you LeaRae! Stellar job!

    Claire Hull, RN,CCM,CLNC
    Cary NC
    www.thejerklnc.com

    I absolutely love your site.

    Dr. Donna Hebbeler, FNP
    Anchorage, AK

    "Wow! Whoopee! and Thank you! LeaRae, my coaching session with you was everything I wanted and needed. I had been spinning my wheels with regard to my business interests, leaving me both frustrated and weary. In a matter of minutes, you lifted my spirits, opened my eyes and got me thinking about my mission in a new light. Thank you for helping me change my focus. I no longer feel like I'm in a mental quagmire. My hat is off to you as a coach as well as to the Nurse-Entrepreneur-Network for all the information and support it gives to the enterprising person in all of us."

    Cynthia Conklin, RN
    Sharon, CT

    "I talked to you this summer, and wanted to let you know how progress is going... You gave me alot of encouragement, and I wanted to let you know that even tho it is slow, [my legal nurse consulting] business is starting to build.  I just completed my first entire case review, did 1 sub-contracting with possible testifying, and am now on my 2nd case as testifying expert and will testify.  I emailed approximately 70 attorneys in the past 2 weeks, and the case I am now working on came from the emailing, and I hope that an attorney that responded is not scared off with my fee schedule.  I hope that I will hear from more of the attorneys that I emailed and mailed out my packets to.  Keep your fingers crossed and say a prayer that it works.  I am really hoping that I can get this flying, so that I can spend more time at home with the kids.
     
    I wanted to thank you for your encouragement, and please post this on your site if it is possible, as you have done a world of good for me."

    Beth Trussell RN, CLNC
    Akron, OH

     "LeaRae Keyes is a world-class life coach I have been blessed to know since 2003.  She is a warm, perceptive, genuine professional, with an exceptional gift for motivating others.  Her approach seems quite effortless, yet it has been refined through years of experience and learning.  She is a true pleasure.  She is an inspiration in what she has achieved in her own life, and by her own example..."

    Catherine Bobenhausen
    New York, NY


    "I'm so glad I found the Nurse Entrepreneur Network!  LeaRae always has great ideas to share with other "Nursepreneurs."  I recently finished the teleclass "Get Clients Now!" and I have to say that it was the most motivational and informative program I've done.
     
    Just starting out in my business as an LNC, this program help me set goals and keep me organized.  It also kept me accountable to my peers in the group each week.  LeaRae is so insightful and has wonderful experience to draw from for those of us who are beginning our dream of being nurse entrepreneurs.
     
    I would highly recommend ANYONE who is just starting their business, or even someone who's been in business awhile and feels like they're in a lull to take this class.  They won't regret it!"
     
    Danielle D. Shapiro, RN, BSN, CMSRN, LNC
    Shapiro Medical Legal Consulting
    Las Vegas, NV


    Following a free complimentary coaching session: "Thank you for taking the time to address my concerns and questions regarding marketing techniques. Your keen insight into the art of becoming a successful nursepreneur is so valuable and helpful even to those of us who have been practicing as independents for years! I enjoy reading your weekly tips and have used them in promoting my business. You have given me the confidence to market my business, my services and myself with ease."

    Kathleen Loeffler, RN, Legal Nurse Consultant
    Medical Litigation Consulting Services
    Carlsbad CA
    www.kellnc.com


    Following a free complimentary coaching session: "Thank you so much for your help!  Your words of encouragement have really made me ready to keep trying.  Your ideas are great, and I am going to try some of them this afternoon.  I needed the boost of confidence you provided me, along with your great ideas.  I can't thank you enough!"

    Beth Trussell RN, CLNC

    Following the Michael Charest Teleforum: "Thank you for letting me be part of the [free] teleforum this afternoon. It was inspiring. Michael Charest made it seem so simple (not easy), it boosted my confidence. I will be using the notes I took to help me sell my services here 'up north'."

    Ellen Codner
    Graphics Designer
    Wascott WI
    graphicsalive.com


    "I have been out of the net for awhile. It seems just as I was getting up and running with my business, Uncle Sam came knocking and called me back to active duty. It is so refreshing to get your tips to remind me of what I am going to eventually get back to! Keep on keeping us nurses encouraged!"

    Brutrinia D. Arellano, RN, BSN, CLNC
    Amaris Consulting Group
    Converse, Texas


    "Thank you so much for your skilled ear, LeaRae!  I appreciate the direction and thorough business knowledge you shared with me during [my free, complimentary] coaching sessions. You were VERY helpful!"

    Laura Hayes
    Organization Consultant 
    Strategic Organization Solutions                   
    www.SOSfor.com


     "I highly recommend LeaRae for anyone who is ready to take their business to the next level."

    Pat Funk
    Pat Funk Copywriter
    Burnsville, MN
    www.Pat-Funk.com


    "LeaRae helps me... review and think about what I am doing, what my priorities are and how to develop action steps to reach my goals."

    Lori Ann Clark
    J4 Web Services
    Cannon Falls, MN
    J4WebServices.com


    "Working with LeaRae provided me the support I needed to grow a strong and successful business. She helped me develop practical solutions to a variety of business problems. My profits have dramatically increased."

    Melissa Becker
    Legal Nurse Consultant

    Minneapolis, MN