132 Get Comfy with Numbers Turns 3! 🎉

Hey friend! For the first time in forever (cue the Frozen music ), the $600 1099 rule has finally changed. It's actually the first update since 1954! Starting with payments made in 2026, the 1099-NEC threshold is now $2,000 per contractor. But there are some sneaky exceptions that trip up so many small business owners, especially around HOW you paid someone. If you've ever felt totally lost at 1099 season, that's not a you problem, and you're not alone! Let's get you ready before January so you're not scrambling. In this episode, we cover: [00:00] Why the $600 1099 rule changed and what that means for your 2026 taxes [01:15] The new $2,000 1099-NEC threshold, where it came from, and the February 1, 2027 filing deadline [02:50] Simple examples: who gets a 1099 this year and who doesn't [03:15] What did NOT change (all income is still taxable, W-9s still matter, and state rules) [04:15] Why how you paid a contractor matters: cash, check, bank transfer, and Zelle vs. credit card, PayPal, and Stripe [05:30] The sneaky exceptions: Zelle, PayPal and Venmo friends and family, QuickBooks payments, and mixed payments [07:00] QuickBooks tip: how to use "Track for 1099" so you don't miss anyone [08:30] Why up-to-date books are the first step to filing 1099s [09:15] Yes, you can file your 1099s yourself (without paying a CPA!) [10:15] Getting fewer 1099s as a contractor? Here's why it doesn't change what you owe [10:50] FAQs: "Someone sent me a 1099 I don't think they needed to" and "Do I really need to fill out this W-9?" [12:50] Your before-January 1099 checklist Key takeaways: Fewer forms, same taxes Card and payment app payments are reported by the processor on a 1099-K, not by you Get W-9s from every contractor up front None of this works without up-to-date books (progress over perfection, bestie!) Want help with your 1099s? Book a quick consult call and we'll walk through your situation and even file them together: https://erikamillard.com/contact Connect with me: Instagram: @erika_millard Website: https://erikamillard.com/ Happy Bookkeeping!

Hey hey! The Get Comfy with Numbers podcast just turned 3 and we're celebrating! If you're a small business owner who feels overwhelmed by bookkeeping, QuickBooks, or your business money, this show was made for you. In this episode, I'm sharing why I started a bookkeeping podcast for women in business, a peek behind the scenes, and a few big lessons from the past three years. In this episode: Why I started the show and the imposter syndrome I had to push past Fun stats: 130+ episodes, top 2.5% of podcasts worldwide, and almost 40,000 downloads! The top 3 most downloaded episodes: Ep. 2: Bookkeeping basics for beginners Ep. 101: My chat with Stephanie Gass on why business owners should start a podcast Ep. 108: A guide for new bookkeepers with no formal training 3 lessons I'm still learning: you can't do it all at once, staying focused is hard, and your money needs a plan How to enter the $50 birthday giveaway! Enter the giveaway Leave an honest rating and review on Apple or Spotify (screenshot it before you hit submit!) DM the screenshot to me on Instagram at @erika_millard or email it to [email protected] Want a bonus entry? Share this episode to your stories and tag me! Thank you SO much for listening and helping other women find a judgment-free place to learn about their numbers. Connect with me: Instagram: @erika_millard Email: [email protected] Website: https://erikamillard.com/ Happy Bookkeeping!

Hey hey, Bookkeeping Bestie! It's spooky season, so we're pulling the scariest QuickBooks mistakes out of the closet and deciding which ones small business owners should actually worry about (and which ones just look scary in the dark). If you spot a few of these in your own QuickBooks Online file, you're not alone, and that's not a you problem. Every single one of these common bookkeeping mistakes is fixable! In this episode: Ghost payments: How undeposited funds in QuickBooks can make your income look doubled (and how to stop paying taxes on money you never made) Zombie subscriptions: How small monthly software and subscription charges quietly eat your business profit, plus a client's genius "watch list" idea The Frankenstein account: Why mixing personal and business money (aka commingling funds) is the scariest monster of all, and how it can put your LLC protection at risk The black hole: What to do with a giant pile of uncategorized transactions, and how QuickBooks bank rules can do the work for you The haunted bank feed: How to find and fix duplicate transactions in QuickBooks without deleting anything, and why monthly bank reconciliation catches them early A letter from the IRS: Why most IRS notices are way less scary than they look (even though they still get me sometimes!) Skeletons in the closet: How to tackle a bookkeeping cleanup or catch-up when you haven't touched your books in months or even years The plot twist: The scariest small business bookkeeping monster that wasn't even on the list Key takeaway: Every one of these monsters grows bigger in the dark. The second you turn on the lights, check your books, and make a plan, they shrink right back down. Progress over perfection, friend! Resources mentioned: Behind on your books? Grab the free Bookkeeping Cleanup Playlist:  https://erikamillard.com/catch-up-with-confidence-playlist  (or DM me "PLAYLIST" on Instagram!) Take Home Target (track your subscriptions and set your sales goals): https://erikamillard.com/takehometarget  Let's connect: Instagram: @erika_millard Website: https://erikamillard.com/ Happy Bookkeeping!

Hey hey, Bookkeeping Bestie! Maybe you started a business doing what you love and nobody told you you'd also be the bookkeeper. Or maybe you offered to "help out" with the books for your husband, sister, or mom's business and somehow ended up running the whole thing. Either way, you're not alone! You don't need an accounting degree to feel ready for this role. You just need a plan and a short list, and that's exactly what we're walking through today. In this episode, we chat about: Two kinds of accidental bookkeepers (and how to tell if you're one of them) Your permission slip: what you don't need to know (debits and credits, every accounting term, every tax rule) What being "equipped" as the bookkeeper really looks like How to pick your starting line when you're behind Why you need real bank statements, not just your online transaction history The "come back to this" pile, and why even pros use it Categorize, reconcile, run your reports: the simple steps to catching up The #1 trait that makes a great bookkeeper When it's time to ask for help (and why asking isn't failing) Key takeaway: An hour here and there beats one stressful Saturday right before taxes are due. Progress over perfection, friend! Grab the free Cleanup Podcast Playlist:  https://erikamillard.com/catch-up-with-confidence-playlist  Happy Bookkeeping!

Do you ever wonder if your books are okay... or do you just kind of hope they are? Maybe you think everything's fine because nothing feels broken. Maybe you have a hunch something is off but you don't know where to look. Or maybe you worry all the time that something's wrong, even if you can't say why. Wherever you are, you're not alone, and this episode is for you. Today we're playing a little game, and all you need is one hand. I'm walking you through 5 signs that your books need some help. Every time one sounds like you, put a finger up. By the end, you'll have a real number instead of a gut feeling. (Zero judgment zone, always. Nobody sees your hand but you!) In this episode, we talk about: Sign 1: Your bank app is how you check on your business. Why "there's money in the account" doesn't tell you what you really made Sign 2: Your business and personal money are all mixed together. The mess it makes at tax time, and why it matters even more if you're an LLC Sign 3: Your money is coming in from all over the place. Venmo, checks, PayPal, Stripe... plus the story of a business friend who paid thousands in penalties because her Stripe income never made it into her books Sign 4: You can't quite tell if your numbers are right. One simple check that shows you if your books and your bank agree Sign 5: You're always playing catch-up. How 15 minutes a week makes the pile a whole lot lighter What your number means and what to do next A few things to remember: A 5 is not a failing grade. It just tells us where to start. A 0 or a 1 means you get to stop worrying, and that's a win too! Not knowing this stuff is not a you problem. Nobody teaches us this when we start a business. It's October, so there's still time to fix things calmly. Progress over perfection! Did you count 2 or more? Send me a DM on Instagram with the word CLEANUP and your number. That's it! I'll ask you a couple of quick questions and tell you honestly what I think. If you need a cleanup, I'll tell you what that looks like and what it might cost. If you don't, I'll tell you that too. I've seen clients who were four and five years behind. I've seen the shoebox. Nothing you tell me is going to surprise me. Links: Not sure where to start with the podcast? Grab the free playlist:  https://erikamillard.com/podcast-playlist-bundles    DM me on Instagram: @erika_millard  Happy Bookkeeping!

Hey friend! Got a shoebox, junk drawer, or Ziploc bag of receipts you've been avoiding? You're not alone, and that's not a you problem. In this episode, I'm back from an unplanned break (hi, I missed you! ) and walking you through a simple, step by step plan to catch up on your receipts without the overwhelm. Whether you're 6 months behind or 12, this is totally fixable. In this episode, we chat about: Why opening the shoebox isn't the hard part (and why being behind doesn't make you a failed business owner) Step one: gathering everything from your purse, car, email, and that shoebox Why your bank statement is NOT enough proof (to an auditor, that Amazon charge could be office supplies or pajamas!) A calendar tip from my episode with tax expert Bethany to help you remember what those lunches and coffee chats were for What to do when a receipt is just gone How to match receipts to your bank statement or QuickBooks month by month (and double check your categories while you're at it) Why a photo of your receipt is totally acceptable, and actually safer than faded paper Bonus tip: attaching receipts in QuickBooks (optional, pick what works for your brain!) The 15 minute weekly habit that keeps the shoebox from coming back Key takeaways: Your bank statement shows money moved. Your receipt shows what it was for. Missing receipts happen. Write a note, pair it with the charge, and move forward. Progress over perfection, friend! Resources mentioned: Episode with tax expert Bethany https://open.spotify.com/episode/1vmpdtSvhEn4jXAZuBe9OI Want someone else to tackle the shoebox? DM me on Instagram: @erika_millard & let's chat!  Have a receipt question? DM me on Instagram: @erika_millard 

Behind on Your Bookkeeping? Here's Your Mid-Year Catch-Up Plan It's July, and if that mid-year check-in just gave you a pit in your stomach because your books are months behind... friend, you are not alone. Being behind does not mean you're bad at business! In this episode, I'm walking you through exactly how to catch up your bookkeeping now, so you can actually use your numbers for the rest of the year instead of just surviving until tax time. In this episode, you'll learn: Why July is actually the perfect time to catch up (you've got 6 months of runway!) How to assess how far behind you really are (months, transactions, and accounts) How to decide if you should DIY your catch-up or get support (and why neither one is failure!) The month-by-month batching method that makes catch-up so much easier Simple habits to "stop the bleeding" so this month doesn't become next year's backlog Remember: avoidance is the real problem, not the backlog. One reconciled month is momentum! Ready to catch up your books?  Download the free Podcast Cleanup Playlist! It walks you through the steps and red flags to look for as you clean up and catch up: https://erikamillard.com/podcast-playlist-bundles    Come say hi on Instagram @erika_millard   Happy Bookkeeping!  

Three of my clients just had their highest revenue month of 2026 (some the highest EVER)! A coach, a therapist, and an interior designer. Totally different businesses, but they all have the same boring secret in common: how they handle their bookkeeping. In this episode: Where all three started: overwhelmed and confused by QuickBooks Each of their stories, from setup and training to the support level that fits their season The pattern they share: support early, a simple routine (hello, Finance Fridays!), and actually looking at their numbers Why I believe this played a real part in their growth The magic ingredients? Get set up right, get support early, build a simple routine, and actually look at your numbers. Curious what stage YOU'RE in? Download the free podcast playlist made just for your season, whether you're setting up, catching up, or ready to outsource.   https://erikamillard.com/podcast-playlist-bundles   If you're the confused and overwhelmed one right now, you don't have to stay there!  Book a discovery call and we'll find the right support for your season.   Discovery call link: https://portal.erikamillard.com/public/appointment-scheduler/6138d4116063a033a5d47857/schedule Happy Bookkeeping!

Welcome to the grand finale of Summer School!  We're wrapping up the series by showing you how the P&L, Balance Sheet, and Cash Flow Statement all work together to tell one big story about your business. Haven't caught the other sessions yet? Go back and listen first! Links below. In This Episode Performance, position, and movement: what each report is actually telling you The road trip analogy (speedometer, GPS pin, gas gauge) How to pull all 3 reports in QuickBooks Online for the same time period Why you can be profitable and still feel broke What your P&L has to do with your taxes Links Mentioned  Session 1: Let's Talk P&L https://podcasts.apple.com/us/podcast/122-summer-school-session-1-lets-talk-profit-loss/id1707561040?i=1000771854013   Session 2: Balance Sheet for Small Business https://podcasts.apple.com/us/podcast/123-summer-school-session-2-balance-sheet-for-small/id1707561040?i=1000772954114  Session 3: Cash Flow Statement for Small Business  https://podcasts.apple.com/us/podcast/124-summer-school-session-3-cash-flow-statement-for/id1707561040?i=1000773875365  Grab your free podcast playlist:  https://erikamillard.com/podcast-playlist-bundles   Happy Bookkeeping!   

You could be totally profitable on paper... and still feel like you're scraping by every single month. Sound familiar? That's exactly what we're digging into today! In this Summer School session, we're breaking down the cash flow statement (the report a lot of small business owners skip right over) and why that's a problem. By the end, you'll finally understand why your profit and your bank account don't always match, and what you can actually do about it. What We Cover What is the cash flow statement? Profit is what you've earned. Cash is what's actually sitting in your bank account. Those two numbers are often not the same, and the cash flow statement is what helps explain the difference. Why your profit and cash might not match: You billed a client but they haven't paid yet (hello, unpaid invoices!) You made a loan payment, but that cash is gone and it doesn't show up as an expense on your P&L You bought a big piece of equipment or a lot of inventory all at once, and recorded it as an asset instead of an expense The three sections of the cash flow statement: Operating activities: cash from the day-to-day running of your business Investing activities: cash spent on bigger purchases like equipment or long-term assets Financing activities: cash tied to loans, owner draws, contributions, and debt payments (Don't panic if you don't have an investing activities section. That's totally normal for newer or online-based businesses!) Cash basis vs. accrual basis: The gap between your profit and your cash can also depend on which method you use to record your books. If you're not sure what that means, go back to episode 67 where we break down the number one QuickBooks setting that most people miss. Do you really need this report if you already look at your P&L and balance sheet? Yes! The cash flow statement tells a story the other two can't. You can be profitable and asset-rich and still run out of cash if the timing is off. Common Questions Answered "My P&L says I made money, so why is my bank account so low?" Timing! Unpaid invoices, loan payments, and big purchases all hit your cash differently than they show up on your P&L. Profit and cash are not the same thing, and that's okay. "Is a slow cash month always a bad sign?" Not necessarily, but it is a warning sign. One slow month might not be a big deal. If it keeps happening, that's your cue to pay closer attention to your cash flow statement (and maybe even look into a cash flow management system). "Is cash flow the same thing as a budget?" Nope! Your cash flow statement shows what already happened. A budget is a prediction of what's going to happen. But they can work together and you can create cash flow forecasts to plan ahead. Resources Mentioned Episode 67: The #1 QuickBooks setting that gets missed (cash vs. accrual basis) Recent guest episode with Emily: How to manage cash flow and what it means for your taxes Free curated podcast playlist: Find out exactly where you are in your bookkeeping journey:  https://erikamillard.com/podcast-playlist-bundles Happy Bookkeeping!