Stop Overcomplicating Your Business Finances: How Simple Systems Save You Time and Money
If your bookkeeping system feels complicated, it’s probably costing you money.
Between multiple bank transfers, missed deductions, and unclear financial reports, many service business owners spend hours trying to make sense of their numbers - only to end up frustrated and overpaying in taxes.
Here’s the truth: business finance should be simple. And when done right, it helps you keep more of what you earn, avoid costly mistakes, and stay confident in your financial decisions.
The Problem With Overcomplicating Your Money Management
The Profit First method might sound like a smart system for managing cash flow, but it’s a budgeting tactic, not an accounting system.
We’ve seen it create more confusion than clarity.
Each month, multiple transfers are made between different accounts, and they often get categorized incorrectly:
When transfers are coded as income, you overpay in taxes.
When they’re coded as expenses, you underpay in taxes.
And when they’re not properly categorized at all, your books stop reflecting reality.
When your bookkeeping is confusing, there’s room for error, and errors are expensive.
At People First Finance, we believe in keeping things simple. Our Better Bookkeeping framework uses a clean 30/20/50 approach:
30% for cost of delivery
20% for operating expenses
50% for profit
This system powers your monthly financial summary and ensures you always know:
How much to set aside for taxes
Where to cut back
When you can safely increase your pay
No guesswork. No overcomplication.
The Money You’re Leaving on the Table
Even with the best intentions, small business owners miss deductions all the time.
How much money did you leave on the table last month?
If you didn’t track:
Business travel, meals, and mileage
Home office expenses (insurance, cleaning, utilities)
Health insurance premiums
…you might have paid more in taxes than you needed to.
At Better Bookkeeping, we make it effortless to capture these deductions. You get:
Monthly reminders so nothing slips through the cracks
A client portal and mobile app for easy receipt uploads
Quarterly internal reviews to ensure your books are accurate and compliant
Properly tracking your deductions is one of the simplest, most effective ways to increase your take-home pay - and it’s a benefit too many small service providers overlook.
You Don’t Have to Be a Numbers Person
You might be thinking, “I’m not a numbers person. That’s why I have a bookkeeper.”
But the truth is: even if you outsource your bookkeeping, you’re still responsible for understanding your numbers.
You’re the one who makes the decisions. And if something’s off, you’re the one who pays for it.
Better Bookkeeping is designed to make this easy (even for non-financial founders). Every month, we send a financial summary that tells you the story of your numbers.
When you read that story, you’ll instantly know what to ask:
“Sales are lower than expected, should I follow up on invoices?”
“Expenses spiked - was there a double payment or a subscription renewal?”
“Profit looks great, but cash feels tight. Do I need to adjust my tax savings plan?”
These questions help you stay in control and prevent cash flow surprises.
Keep It Simple, Stay Profitable
At the end of the day, good bookkeeping isn’t about spreadsheets or software, it’s about clarity.
When your system is simple, your business becomes easier to manage, your tax bills shrink, and your confidence grows.
Here’s what Better Bookkeeping delivers every month:
A clear picture of your revenue, expenses, and profit
A simple percentage-based budgeting system
Built-in checks to ensure every deduction is claimed
Guidance that helps you stay compliant and make better decisions
You don’t need 10 bank accounts, complicated reports, or late-night money math. You just need a reliable, accurate system that shows you exactly where your business stands.
If you’re ready to simplify and save, we’re here to help.
P.S. Want to keep more of what you earn? Sign up for our weekly email series.
