As a small business owner, you need to know that bookkeeping and accounting are two of the most important aspects of your business. But do you know why? And are you doing everything you can to make sure these aspects of your business are running smoothly? Nesha Pai shares the importance of bookkeeping and accounting and how we can improve our businesses by following her tips.
02:43 The biggest mistake I see people make is not immediately getting set up properly from the legal and financial perspective and then as basic as getting QuickBooks.
03:40 Get your foundation set for the kind of company you aspire to be. So if you aspire to be a million-dollar company, set your foundation up as if you already are.
06:48 The interesting thing about deductions is unless you get audited, you really can deduct whatever I say, be reasonable.
12:04 I work on the financial statements in the bookkeeping, so then I hire bookkeepers under me who know how to do the transactional work but then I provide the higher level.
12:47 It's worth the extra money to go to a CPA and I'm not saying every CPA’s good out there, they're not. What I am saying though is there's an extra level of accountability.
Apple Podcasts - Spotify - Google Podcasts - YouTube
Nesha Pai is the founder of Pai CPA, PLLC in Charlotte, NC. She graduated Magna Cum Laude from NC State University and has held her CPA license since 1996, after passing her first attempt at the exam as a senior. She began her career and cultivated her passion for helping businesses within the world-renowned accounting firm Arthur Andersen, and later within multiple, privately held Fortune 500 companies as a business consultant, relationship facilitator, and accounting analyst. She realized she had a strong pull towards the small business and entrepreneurial sector.
Since starting her own firm in 2011, Nesha has continued nourishing her vision and the business growth of the Queen City by launching a podcast series, ‘Piece of the Pai,’ that focuses on successful entrepreneurs sharing their business insight. In January 2020 , Nesha published her book “Overcoming Ordinary Obstacles”, which won the award in the Multicultural Non-Fiction category by the American Book Fest. She has been a Charlotte resident since 1993, and was named as one of the Top 50 Most Influential Women of 2020 in the Mecklenburg Times. and was in the 2021 cast of DWTS Charlotte for Carolina Breast Friends.