317: How to Align Your Bookkeeping with Your Design Business Finances
317: How to Align Your Bookkeeping with Your Design Business Finances
Back with me on the podcast today is Erin McGhee, a financial strategist and accountant who has dedicated her career to building bookkeeping and CFO-level services specifically for the interior design industry.
In today’s conversation, we’re looking beyond the financial reports and focusing on the inputs that drive your numbers long before they ever reach QuickBooks or your accounting software. Erin shares how the decisions, processes, and systems throughout your business directly impact profitability—and where hidden profit leaks are most likely to occur.
Our hope is that this episode inspires you to take a closer look at one area of your business, uncover opportunities for improvement, and strengthen the financial health of your company.
Topics Mentioned:
Backend business operations
Alignment of financial workflows
Financial system of record
Listen to the Episode
Key Thoughts:
Organizing the backend of the business with the design process allows work to flow smoothly.
Business processes are changing due to technology and our internal process needs to change as well to support.
Be clear on where the detail for your financials lives.
Keeping your project management system and financial systems aligned is critical for success.
Be clear on when your company recognizes revenue.
Contact Michele:
Facebook: Scarlet Thread Consulting
Instagram: @ScarletThreadATL
Website: scarletthreadconsulting.com
LinkedIn: Michele-Williams
Contact Erin:
Email: erin@mcgheefinancials.com
Website: https://www.mcgheefinancials.com
Instagram: https://www.instagram.com/mcgheefinancials
References and Resources:
The Designers' Inner Circle - Become a Member Today