Are you an interior designer who is struggling to keep track of your finances? Many interior designers find bookkeeping to be a daunting task. It can be time-consuming, challenging, and even stressful. If you’re one of those designers, you’re not alone. That’s why I invited LoriAnn to discuss the importance of hiring a bookkeeper for your interior design business.
As a virtual bookkeeper and fractional CFO who specializes in working with interior designers, she knows firsthand the challenges that designers face when it comes to finances. She talks about the importance of hiring a bookkeeper to keep track of your income and expenses, prepare financial reports, and file taxes; and how this can alleviate stress and bring peace of mind to creative professionals. She shares her expertise on the differences between tax accountants and bookkeepers, highlighting the value of having a bookkeeper throughout the year, not just at tax time.
So whether you’re ready to hire your first bookkeeper or you prefer doing it yourself, I encourage you to listen to this episode and learn why hiring a bookkeeper is so crucial for interior designers and how to find the right one for your business.
Why you’ve got to check out today’s episode
- Identify the 5 reasons why people are anxious about their finances and understand the importance of tailoring financial advice individually
- Discover the #1 challenge faced by interior designers in business
- Compare her top 3 bookkeeping software recommendations and find out why you should DIY your books using spreadsheets first
About the Guest:
LoriAnn Kuntz is a virtual bookkeeper and fractional CFO for creative entrepreneurs. She is the owner of LoriAnn Kuntz Virtual Bookkeeping, a boutique creative bookkeeping firm that specializes in Done-for-You monthly bookkeeping, fractional CFO services, and helping people get off the ground and how to keep track of their finances.
Her goal is to bridge the gap between traditional accountants and business owners. With 35-plus monthly DFY (Done-for-You) bookkeeping clients in the industry, she has the insight and experience to help you uplevel your business while removing the stress and burden of managing your finances. Whether you’re just starting out, or you’ve been in business for years, her mission is to help creatives feel peace about their finances, while growing their profit and confidence.
Connect with LoriAnn Kuntz:
Website: loriannkuntz.com
IG: @loriannkuntz.co
Check out these episode highlights
02:39 – How LoriAnn became the go-to bookkeeper and fractional CFO for creatives
07:10 – The #1 challenge faced by interior designers in business
08:47 – The role of a bookkeeper in a business, and why it’s essential to hire one ASAP even if you already have an accountant taking care of your taxes
11:55 – The importance of financial education and money mindset in business
12:11 – 5 reasons why people are anxious about their finances and the importance of tailoring financial advice individually
- State of their businesses and the economy
- Lack of education about money
- Money mindset issues
- Difficulty understanding the complexity of business finances
- Undervaluation and pricing challenges
17:57 – Why you need to pay attention to the numbers when starting a business
21:01 – The rise of female business owners and paving the way for future ones
24:14 – Bookkeeper and Accountant: Why you should hire both
27:08 – Top 3 bookkeeping software recommendations and why you should DIY your books using spreadsheets first
- Spreadsheets – Gives you basic knowledge of accounting with a one-time fee
- QuickBooks (LoriAnn’s Top 2 Software) – Requires initial setup, training, and subscription. Integrates with CRMs.
- Xero (LoriAnn’s Top 1 Software) – Requires initial setup, training, and subscription. Integrates with CRMs. Better customer service. More affordable compared to QuickBooks
32:11 – The best piece of advice she can give you about your finances
You are 100% capable of understanding and analyzing your numbers no matter what your background is
PRO TIP: While you may need to dig deeper and take some time to educate yourself, we’re all still learning how to manage money.
Links Mentioned
DIY Bookkeeping Templates: loriannkuntz.com/shop
The software I use for my finances: studiodesigner.com/
Next Steps
Grab your freebie:
Join the Design Mentor to kickstart a successful career in interior design!
Check out the best books every interior designer should have here.
Enroll in Business of Design with Kimberly Seldon or DesignYou with Tobi Fairley today to scale your interior design business!
Email me at [email protected] if you have suggested topics
DM me on Instagram at @rwarddesign if you have a burning question
Leave me a rating and review! Click here.
Thanks for listening! I hope this helps you discover if interior design is the career for you. See you next week…