The Boutique Bookkeeper Show | Know Your Numbers & Prepare For Taxes
Are you making sales in your boutique but still wondering where all your money is going? Do you panic at tax time because your books are a mess—or worse, nonexistent? Are you tired of feeling like you should understand your numbers, but no one ever taught you how? If you’ve ever felt confused, overwhelmed, or straight-up anxious about the money side of your boutique business, you are not alone. Running a retail business—especially online through platforms like Shopify—is no small feat. You’re juggling inventory, marketing, customer service, and social media… and somehow, you’re also supposed to be your own bookkeeper? Let’s be real: finances can feel intimidating. Maybe you’ve tried spreadsheets, downloaded bookkeeping software, or even hired someone—only to still feel totally in the dark. You just want to understand your business’s money and feel confident making decisions. You want freedom, not fear. I get it—because I’ve been there. Hi, I’m Megan Schmitke, host of The Boutique Bookkeeper Show. I have my Bachelor’s in Accounting and spent over seven years working in corporate accounting. But when I became a mom, I knew I wanted more flexibility—and I still had a passion for helping others with their finances. That’s when I started Finding Freedom Financial Services. What I discovered? So many boutique owners were struggling with their numbers—not because they didn’t care, but because no one had ever taught them how to manage their books. And while plenty of bookkeepers will do your bookkeeping for you, almost none will take the time to teach you how to do it yourself. That’s where this podcast comes in. The Boutique Bookkeeper Show is your go-to resource for breaking down the money side of your boutique in a way that actually makes sense. In each episode, you’ll get real-world, easy-to-digest education on topics like: ⭐ Understanding your Shopify reports ⭐ What numbers really matter in your business ⭐ How to stay organized month after month ⭐ How to prepare for tax season without the stress ⭐ And how to create systems that actually give you freedom—not more to do Whether you want to DIY your bookkeeping with confidence or just want to finally understand what your numbers are telling you, you’re in the right place. Let’s take the confusion out of your finances so you can step into the CEO role your boutique needs. 👉 Ready to connect and take the next step? Follow me on Instagram @findingfreedomfinancial for tips, behind-the-scenes looks, and updates on new episodes. Want to dive deeper or work together? Visit www.findingfreedomfinancial.com to learn more about how I help boutique owners just like you find financial clarity and peace of mind. Hit subscribe and let’s turn your confusion into confidence—one episode at a time.
Episodes
Ever paid for a business expense with your personal card and had no idea how to get it into your books? Recording business expenses paid with personal funds is something almost every boutique owner runs into, and in this episode I'm walking you through exactly what to do. Whether you paid for things out of pocket before you had a business bank account, or you just accidentally swiped the wrong card, those expenses still belong in y...
Are you tracking your inventory and COGS correctly in your boutique bookkeeping? If you’ve been expensing your inventory when you buy it, your profit and loss report is NOT giving you an accurate picture of your business. In this episode, we’re breaking down the difference between inventory and cost of goods sold, why it matters for your boutique finances, and exactly what to do if you’ve been doing it wrong.
Ready to take your l...
Not sure which QuickBooks subscription level is right for your boutique? In this episode, I’m breaking down each QuickBooks Online plan so you know exactly which one fits your needs as a boutique owner - and which ones are a total waste of money. Spoiler: Simple Start is probably all you need.
Ready to take your learning a step further?
Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to unders...
Today I’m sitting down with Lesly Birkland, owner of Birkland Boutique — a faith-based lifestyle boutique on Main Street in her small town. Lesly has been a student inside the Bookkeeping Made Simple for Boutiques Membership for the past 10 months, and today she’s sharing her journey of finally getting serious about her numbers. We’re talking about what it looked like before, the moment things clicked, and how understanding her fin...
In this episode, I’m pulling back the curtain and sharing the story of how the Bookkeeping Made Simple for Boutiques membership came to be — from my corporate accounting career, to betting on myself with a newborn at home, to the pivotal moment I realized a generic QuickBooks course wasn’t going to cut it. If you’ve ever wondered why I do what I do and why this membership was built specifically for boutique owners and independent r...
Are you currently managing your own retail bookkeeping — or at least TRYING to — but feeling like you have no idea if you’re actually doing it right? You might not need a bookkeeper to do it FOR you. You might just need someone to TEACH you. In this episode, I’m breaking down what a bookkeeping coach actually is, why boutique bookkeeping is more complex than most people realize, and how having the right support can take you from co...
As a virtual bookkeeper, one of the hardest things for us to accurately track is the physical cash that is being used in our clients’ stores. That’s because there’s no statements for us to review, or account for us to connect to. It 100% relies on the internal processes that our clients have set up. Because of that, these internal processes are SUPER important (whether you’ve hired a bookkeeper or you ARE the bookkeeper), so in tod...
One of the first “money” books I read when I started my business was Profit First by Mike Michalowicz, and let me say that it was a game changer in how I manage the cash flow in my business. But, if you have read the book, you probably noticed that it doesn’t QUITE work the same if you have an inventory-based business.
In this episode, I’m here to tell you the basics of how the Profit First system works, and how you can use it to h...
Let's talk about sales tax…This is probably one of the most confusing aspects of running a retail business, I’m just gonna be up front about that. It’s even slightly more complicated if you do any online selling. And let's be real…it's 2026. Chances are, you’re selling stuff online.
Every state is different, so I’m going to preface this episode by saying that you should always look at the resources that your state department of rev...
Have you ever been unboxing the latest inventory for your business and you just HAD to keep something for yourself??
I mean, it’s one of the benefits of owning your own business – getting first dibs on everything!
But, from a bookkeeping & tax perspective, you want to make sure that you are handling these items appropriately. But, how exactly do you do that?
In today’s episode we’re going to cover my recommended method for hand...
One of the more challenging parts of running a small business is making sure that you are paid for all the hard work and hours that you are pouring into your business. Unlike a traditional employee where you’re presented with a regular paycheck, determining how to pay yourself as a business owner can be a little more challenging & complex.
In today’s episode, we are going to take a deeper dive into the things to consider when y...
Bookkeeping in the retail industry has some unique complexities that do make it a little more complicated than other businesses. Since I opened my business in 2021, I have worked with dozens of small businesses, and I often see a lot of small business owners make similar mistakes when they manage their own bookkeeping. Unfortunately, mistakes like these can lead to inaccurate financial reports, which lead to inaccurate tax returns,...
Many business owners think they need an Accountant for their business - but what does that REALLY mean? There’s a lot of confusion around that word and what an Accountant actually does, because it is such a broad term. Today, I’m getting a little more specific and explaining why you specifically need a bookkeeper and a tax preparer on your financial support team. I talk about the difference between these two roles, how they work to...
Many business owners are so hung up on making sure they categorize expenses correctly and call them the “right” thing, when in reality…it doesn’t matter.
Or, at least it doesn’t matter as much as you might think.
Most of the time, anything that you spend money on that is ordinary (meaning other business owners in your industry spend money on it too) and necessary (meaning that this purchase is essential in you operating your busine...
I know that bookkeeping is probably not your favorite business-related task, but it is one of the most important ones. And I’m not talking about the year-end scramble to gather all your numbers together – I mean keeping up with it each and every week so you can USE those numbers to help you make smarter business decisions.
Since it’s not your favorite task, I want you to be EFFECTIVE with the time you are spending on your bookkeepi...
Would you notice if your payment processors weren’t paying out all your funds? The only way to make SURE that you are accurately tracking every PENNY in your business is to make sure that you are completing your bookkeeping reconciliations! That means that you should be comparing every transaction in your bookkeeping records to the statements provided by your banks, credit cards, and payment processors to make sure that everything ...
A 1099-K is a tax document that is created & sent to you (and the IRS) by any payment processors you use. It reports both the number of transactions they’ve processed on your behalf, along with the total dollar amount of gross sales they’ve collected for you. While a 1099-K seems like a very “official” tax document, it should NOT be used to report your income on your tax return. To learn why it shouldn’t be trusted, and what yo...
January is a true ‘fresh slate’ in a financial sense. It doesn’t matter if you completely ignored your numbers in 2025, now is the perfect time to commit to a change in 2026 and start to face the numbers head on. In today’s episode, we’re going to talk about how you can make 2026 the year you finally feel confident in the money-side of your boutique - not by doing more, but by putting simple systems and rhythms in place now while t...
You might already be familiar with the 1099s you RECEIVE as a business, but did you know that you ALSO have a requirement to SEND any 1099 documents to individuals and businesses that meet certain criteria? It’s not just a responsibility of large corporations - ANY small business may also need to send out 1099s at the end of the year.
Today’s episode is going to walk through the 4 requirements to review to determine if any of your ...
Today we are doing a little thinking & strategizing on what you can do BEFORE the end of the year to help save a little money on this upcoming tax season.
Generally, your bank account balances are getting a little stronger as we move through this holiday season, and I see so many business owners start spending money like crazy to “get the tax deduction”. And yes, while there may be SOME truth to that, it’s not the greatest stra...
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