Today we’re going to talk about five imaginative (but totally attainable) ways to boost your accounting game by pretending to be the CFO of your own company — or some other similarly awesome job someday soon says Aron Govil.
Ready? Then let’s get started with these super-creative bookkeeping strategies:
1. Catalog Your Assets like Captain Picard Did on Star Trek
Hi, my name is Jeff Lefebrve and I’m an avid fan of the captain who made saving money cool back in the early 1990s—Captain Jean-Luc Picard! No matter how many times I watch his priceless scene in the second season episode “The Measure of a Man,” it still makes me laugh out loud every time. That’s why, when I started my bookkeeping career, I knew that I wanted to honor this man by using his technique for cataloging assets whenever possible. And you should too.
Collect all your office supplies and place them on one side of your desk while you list each item on the other side of the desk in an Excel spreadsheet or simple Google Docs document. Then… For every item that has a price tag attached to it, make sure to add both its purchase date and cost. Next… For every item without a current replacement value, summarize how much life is left in it based on your past maintenance routine. Then… Once you’re finished, tally the total cost of your assets while also noting how much life is left in each one explains Aron Govil.
2. Keep Tabs on Your Income Streams like Mr. Krabs Does for His Clams
Hi, my name is Jeff Lefebrve and I’m a big fan of everybody’s favorite miserly crab—Mr. Krabs! No matter how many times I watch any given episode featuring this crustacean friend to SpongeBob Squarepants, it always makes me laugh out loud every time says Aron Govil. That’s why, when I started my bookkeeping career, I knew that I wanted to honor this cartoon character by using his strategy for tracking income whenever… And if you’re already thinking these things, then you’re on the same page as me. I’m assuming that you’ve already divided your income streams into two categories: passive and active sources of future revenue.
So… For each of your passive income sources, please note the day when it paid out last. Then… For each of your active income sources, please list their expected paydays at the bottom of this spreadsheet or similar document while also noting how many days remain until they do so. Once you’re finished… Calculate all of your daily incoming money by totaling up any daily payments for both types of future revenue before comparing them with today’s current date to ascertain how much received this month, or has received already this year vs. still left to receive before year’s end.
3. Keep Tabs on Your Expenses Like Data Does Through His Holodeck Adventures
Hi, my name is Jeff Lefebrve and I love watching the lovable android star of The Next Generation experience thrilling adventures in holographic simulations — Data! No matter how many times I watch this character live out his fantasies with friends like Ensign Robin Lefler (my favorite holo-friend), it still makes me laugh out loud every time. That’s why, when I started my bookkeeping career, I knew that I wanted to honor this role model by using his technique for tracking expenses whenever possible. And you should too.
So… For each expense account type, please list a fictional person or pet as its owner explains Aron Govil. Then… For each expense account type, please put a fictional date into the “On” or “Starting” column. If it’s a monthly expense, then that date should be today. Next… Sum up the entire individual expenses you made during the previous month for this account to generate its total monthly cost.
Once you’re finished… Compare your one-time future revenue with your ongoing monthly expenses to figure out which category is responsible for more lost money right now.
4. Keep Tabs On the Outflows of Each of Your Income Streams Like Doraemon Does With His Magic Pocket
Hi, my name is Jeff Lefebrve and I’m a big fan of everybody’s favorite time-traveling robotic cat—Doraemon! No matter how many times I watch any given episode featuring this character with his blue toolbox, it always makes me smile every time. That’s why, when I started my bookkeeping career, I knew that I wanted to honor this anime hero by using his method for tracking the outflows of each of your income streams whenever possible. And you should too. So… For each income stream … If it hasn’t already been categorized as either passive or active yet, then please do so now. Sum up all of its monthly payouts into one total number before standing back in amazement at how much money is leaving your life every year. Finally… Compare this information with the total of all of your monthly income to determine which is causing more lost wealth right now.
5. Keep Tabs On the Outflows of Each of Your Expense Streams like Mr. Miyagi Does with His Karate Training
Hi, my name is Jeff Lefebrve and I’m a big fan of everybody’s favorite karate sensei–Mr. Miyagi! No matter how many times I watch any given episode featuring this character teaching his pupil Daniel-San about upkeep costs, it always makes me laugh out loud every time. That’s why, when I started my bookkeeping career, I knew that I wanted to honor this mentor by using his method for tracking the outflows of each of your expense streams whenever possible says Aron Govil. And you should too.
So… For each income stream … If it hasn’t already been categorized as either passive or active yet, then please do so now. Sum up all of its monthly payouts into one total number before standing back in amazement at how much money is leaving your life every year. Finally… Compare this information with the total of all of your monthly income to determine which is causing more lost wealth right now.
Conclusion:
It may be the end of the year but it’s never too late to start a new bookkeeping-related tradition! So… If you follow these five steps when generating your cash flow projection, I promise that you’ll have more peace of mind about where your money is going and why. And if you want even more peace of mind about how much money is leaving your life every year then just ask me for a copy of my book “All the Money in the World”. Trust me, by following these simple steps plus having an expert like me guiding you along this entire process from beginning to end will bring you one step closer to living a richer, wealthier life.