S2 E7 Jennifer Beckwith - Wayside Bookkeeping

Episode Summary:

In this episode of Cosmos and Commerce, hosts Michele and Janis sit down with Jennifer Beckwith, founder of Wayside Bookkeeping, to discuss her successful journey into restaurant and bar bookkeeping. Jennifer shares how she turned a side hustle into a thriving business, emphasizing the importance of understanding financial reports and the unique challenges of bookkeeping in the food industry. From networking strategies to mentoring aspiring bookkeepers, this conversation is filled with valuable insights.

Key Highlights:

• Jennifer's Journey: From empty nester to entrepreneur, she started her bookkeeping business in 2022 and quickly expanded to managing seven employees.
• Restaurant Industry Challenges: Jennifer dives deep into the complexities of restaurant and bar bookkeeping, mainly how to track labor costs, prime costs, and other financial details to help businesses grow.
• Networking and Trust: Jennifer explains her approach to networking, which focuses on building trust and relationships rather than just passing out business cards. She emphasizes the importance of connecting with people who know restaurant owners, even if they don’t have time for traditional networking events.
• Remote Work and Expansion: Wayside Bookkeeping serves clients across the U.S., including Arizona, Florida, and Colorado, with Jennifer's goal being to land clients in all 50 states.
• Mentorship and Growth: Jennifer not only runs her business but also mentors new bookkeepers, helping them understand the complexities of the profession.

Top 3 Takeaways:

1. Know Your Numbers: Business owners should regularly analyze their financial reports, especially in the restaurant industry. Just having money in the bank doesn't mean a business is profitable—knowing your prime costs, labor costs, and expenses is essential.
2. Build Relationships: Networking is not just about handing out business cards—it's about building trust and meaningful relationships. Jennifer emphasizes that especially in fields like bookkeeping, trust is key when handling clients' financial information.
3. Specialize and Grow: Focusing on a niche, like restaurant and bar bookkeeping, can help you stand out in your industry. Jennifer’s success came from specializing in this area, gaining expertise, and becoming a go-to expert for restaurant owners across the U.S.

Links

Wayside bookkeeping
Profit First by Mike Michalowicz
Networking Essentials for Success by Chris Borja

https://cosmosandcommerce.com
https://www.facebook.com/cosmosandcommercepodcast

Transcript

janis: [00:00:00] Hello.

Michele: Hi there listeners, you're tuned in to Cosmos and Commerce where business meets a touch of sparkle. I'm Michelle, your host for all things entrepreneurial and entertaining.

janis: And I'm Janice, your other host, making sure to keep things light and lively. Today's episode is going to be a blast, isn't it, Michelle?

Michele: Absolutely, Janice. This episode we're uncovering the secrets behind successful restaurant and bar bookkeeping with an expert in the field, Jennifer Beckwith, of Wayside Bookkeeping. She's made quite a niche for herself in this area.

janis: I'm already thinking about all the numbers and spreadsheets, but first, Michelle, would you rather keep the books for a bustling bar in Vegas or a quaint cafe in Paris?

Michele: Definitely the Vegas part. And I'm actually going there next week.

janis: Oh,

Michele: The energy and excitement. Yeah. The energy and excitement is right up my alley. [00:01:00] What about you, Janice?

janis: I think a cafe in Paris. The ambiance would be unbeatable, but enough about us. Let's get to the real start of the show. Stay tuned folks, because Jennifer's story is one you won't want to miss.

Michele: That's right. Grab your drink and get ready for some inspiring insights and a whole lot of fun. Welcome to the show Jennifer Would

Jen: and Janice. Appreciate you guys for having me on here and such a great introduction. I don't know what I would want to do if it would be a bar in Vegas or in Paris. I don't know.

janis: Maybe both! Right?

Jen: Yes. Yes.

janis: Jennifer, let's start with a little bit of background on you. Wayside Bookkeeping is renowned for its specialization in restaurant and bar bookkeeping. Can you tell us what inspired you to focus on this area?

Jen: I like to eat. Um, [00:02:00] that's really the honesty behind it. As I really enjoy food and really enjoy going out and and spending time learning about different restaurants. And the other thing with it is that it's very, very specific and detailed. You know, most bookkeeping is detailed, but restaurant is a little bit more detailed on a daily basis.

So I kind of like the nitty gritty of it.

Michele: share a summary of your business journey from the like idea and your backgrounds in bookkeeping to being a go to expert in this field

Jen: Yeah. So I actually started because I was bored as a soon to be empty nester. Still on that path. Um, I've always dealt in an office kind of environment, whether it be customer service you know, dabbled a little bit with bookkeeping, but not a ton. And so I decided I was going to just do a side job to pick up some extra income.

[00:03:00] And so I went for it and started my own business in 22 and it's kind of grown. I think I left my full time job in February of 23. And now have 7 employees besides myself and continuing to grow. So, yeah, it's kind of been a journey.

Michele: Yeah. So what did you do before, before you were owning Wayside? What was your job?

Jen: Well, I did, I worked for a construction refrigeration company and took care of all the in house paperwork there along with dispatching. Quoting all that fun, lovely stuff. So it was really just boring work is the best way I could put it. And I was helping someone else make millions of dollars.

And I don't like helping other people make millions of dollars, unless it's my clients.

Michele: Oh, did you? I, [00:04:00] did you have any experience in bookkeeping or did you learn like a whole new field?

Jen: little bit. But not a ton. So I went through and did a lot of training, a lot of schooling in that first 60, 90 days. And really just buckled down. So I would, you know, get off at five, come home from, 10 was usually when I was working on my business and learning all the ins and outs of bookkeeping.

Got certified in QuickBooks, the regular certification and advanced. So yeah, so kind of just developed that way and really just threw myself into it, so I had all the knowledge that I could,

Michele: Sorry, I'm going way off script, but I, I have a lot of questions now.

Jen: you're fine.

Michele: So you just decided to do this side hustle. And you picked bookkeeping? Why, why did you pick bookkeeping? That's what I want to know.[00:05:00] 

Jen: Well, because, because someone kind of advertised it, that it was a lot of like data entry. you know, since the age of 15, I date, you know, I worked at call centers where I was just inputting data.

Michele: Oh,

Jen: for me, it was like, well, that seems like a perfect match, right? It's a lot of input, a lot of outputting data.

So it really seems like, and I think that's why I was able to catch on so easily because. Of the years of experience doing that kind of stuff. But they don't tell you about yourself or educating yourself on the accounting aspect of it all. They just teach you about the data entry part. So it's up to you to learn the accounting part to where you understand it.

But that's what they did not advertise for.

Michele: you're learning that along the way, huh?

Jen: Exactly. So it's just a lot of trial and error.

Michele: Yeah. You're, [00:06:00] I saw on your website that your tagline is that you help your restaurant or bar grow. Tell me how exactly do you help them grow?

Jen: Well, when you look at your reports, well, as business owners, do you look at your reports for one? Do you have reports for two? But then do you know how to really look at them and understand, you know, just because you have money in the bank account doesn't mean that you are doing okay. And I think that's where a lot of business owners falter is they think if their bank account looks good, they're doing well.

But what they're not anticipating is those big invoices that are coming from their vendors payroll, all of that other stuff that you don't consider when you're looking at that bank account. But something in the that's specific to the restaurant industry is they have prime cost. So. You know, there, there's a certain percentage [00:07:00] that they should be trying to stay under for their cost of goods versus what they're being, what's being sold along with their labor cost of goods.

So that's really getting into the nitty gritty and the specifics with the restaurants and actually leveling up their bookkeeping versus just data in and data out. It's how to analyze the data.

Michele: I see. Yeah. That would be helpful making decisions. Yeah.

janis: yeah. So, what are some of the biggest challenges you've encountered while working specifically with restaurants and bars?

Jen: Well, they're not the easiest. They're so busy because usually they are in the restaurant that it's, they're not the easiest to get you the information and answer the questions that you need. I think that's one of the biggest hurdles. But also where to connect and network with those restaurant owners.

Because they're usually in the restaurant, they usually don't. Go and do a lot of networking and that kind of thing. So, [00:08:00] you know, how can you go out and reach them? So it's really, building that network of, of in the industry, building that network of people that you can work with.

janis: So that's why you go out to eat, so you can, like, send them your card,

Jen: Exactly. So a lot of times, especially if I'm out of town, I will leave my business card. You know at with my receipt after I've paid so

janis: I've got one of your cards. I, I don't have it right here in front of me. Does it say on there, like, I specialize

Jen: it does not I haven't had new ones made Those are the first ones I had before I really got into the restaurant and bars So yeah, so that's on

janis: you don't want to alienate any other businesses who may want to use your services.

Jen: Correct because we do service all industries at this point, but we're just we're just our niche Where we specialize and know the most information is in the restaurant industries

janis: Hmm.

Michele: You probably be good with food trucks too, right? Would that be considered restaurant?[00:09:00] 

Jen: yeah, pretty much anything in the food industry, because most of them have a point of sale system where they need to make sure that they account for those fees, they gross up their sales. All that fun stuff. That's fun for me. Not for you guys.

janis: track of tips, I bet keeping track of tips might be difficult for them.

Jen: Yes. Tips and sales tax are usually the biggest issue when it comes to their industry. A hundred percent.

janis: Restaurants. I mean, do they even pay sales tax? I mean, cause I mean, cause on food there's no sales tax on, you know, dining in, or I don't know. I don't, how does that work?

Jen: Other the point of sale system calculates it all for you. Just like your point of sale system will do for whatever different things you sell. Their point of sales do the same

janis: Oh yeah. They just pop it in. I pop it in as non revenue or not non revenue, non taxable or yeah, whatever. Yeah. Yeah.

Jen: Yep, and that's how their, that's how their point of sale is [00:10:00] set up through whatever, whatever is bought is taxable or not.

Michele: this brings up a big point of contention that I have a big opinion about in my industry. We can talk about it. Maybe you can cut me straight if I'm wrong, but tips, I think are a bunch of BS actually for the business because. We have to, as a business, we have to facilitate that tip, but we have to pay the credit card fees on that tip out of our pocket.

And we have to pay the tax on that tip out of our pocket, where the person gets the hundred percent of the tip. Am I right? Or am I wrong?

Jen: I don't know if you're a hundred percent accurate,

janis: Yeah. Michelle, can you put in your contract that like a percentage of their tip goes to it through the fees if they put it on a card and you have to process it?

Michele: Well, we've done something different with tipping lately [00:11:00] that I don't think would be feasible for restaurants, but we have like a separate point of sale, iPad. Where it's called meet tippy. So there's an app on this iPad that all of our therapists are loaded up in and we don't charge a convenience fee or credit card fee or whatever on the sale to the customer. But if they want to tip on their credit card, we charge them a little fee. So that they are now paying and then, yeah, our credit card fee, but we still have to pay the tax on that.

janis: Right.

Michele: But the goal is that maybe since they're having to pay the fee, they'll just go ahead and bring cash.

Jen: but when you say you're paying taps taxes on it, do you mean you're paying sales tax? Are you paying payroll tax? Technically you shouldn't be paying payroll tax on tips.

Michele: No, this is what I wanted to hear from you.

Jen: no, technically you should not be paying because tips are just an in and out. You're just a holding [00:12:00] company. Like you're the, you're just holding them. You should not be paying taxes on tips.

Michele: Okay. So

Jen: It's only on their salary

Michele: we aren't responsible for federal taxes on that income that they're making.

Jen: should not be no because it should not because it is not an expense to you It's a liability So make sure that it is not listed as an expense on your profit and loss It's listed as a liability because really you're just holding that money for a period of time Until you disperse it out just like sales tax

Michele: good to know. Kyron does our books, so I'm gonna have to make sure, maybe we can have you a consult with you sometime, so you can make sure we're doing things right. I'm up,

Jen: problem,

janis: be a good idea. Yeah.

Jen: no problem

janis: Yep.

Michele: what unique aspects of restaurant and bar bookkeeping do you find most intriguing?

Jen: be honest with [00:13:00] you there's so many point of sales systems And everyone, I don't know why my voice just changed, but everyone, did you see that? Like, it went really high. But really the point of sales systems, there's so many different ones that every restaurant uses and they all use them so differently.

That I think that is the most unique aspect of, and I know there's a lot of different point of sale systems for all businesses, but for restaurants, specifically, there's a ton and either you love or hate them. And to change is very costly when they change a point of sale system or merchant service.

So all of that is, you know, but you have to educate yourself. And that's what I enjoy is learning different point of sale systems, learning different the way some businesses use it where some do not. You know, and then asking those educated questions to the owner, are you using it this way? And they're like, I didn't know I could do that.

[00:14:00] Well, guess what?

janis: just going to say that. Yeah. Cause I've got the Clover system where at my shop here and I know I don't utilize it to its full extent. I know I don't. And they cater, I think that mostly to restaurants, but I've tweaked it to work for me, but I know that there's so many things that it can do that I don't use it for.

Jen: Yeah, we'll definitely need to follow up because like, I don't know if you use the cash option where you can track your cash on there, which is a big feature. With clover, but a lot

janis: You mean when somebody pays cash?

Jen: Not necessarily if someone pays cash, but say you take 20 out of your drawer and you send Michelle down the street to go get some waters because you, you know, it's 95 degrees and you want your customers to have water, right?

So you took cash out of the drawer. It'll track, you can put it in Clover that way and it tracks it for you. So say, you know, you had 100 cash today, but you spent 20 on those waters. Now you have 80. Where did that other, you know, so it's accounting for it.[00:15:00] 

janis: I see. So can you walk us through the different services you offer to your clients?

Jen: So currently for bookkeeping clients. I will do payroll for them, but I am not doing payroll outside of if you're not a bookkeeping client I used to do payroll Just by itself. It got to be too big too much And but I will do it for my clients, but really, bookkeeping accounts payable and accounts receivable And sales tax filing and payroll.

And then I actually work with a enrolled agent, which is a tax preparer that I refer all my tax clients to, but I do not do taxes. I don't want to get in that mess

janis: I don't blame you. 

Jen: Too much responsibility there.

janis: it is. It is. Can you share a particularly [00:16:00] memorable experience you've had working with a client and what made it so special?

Jen: So the beginning of June, I flew out to Phoenix to meet with one of my restaurant clients, and. It was definitely a weird experience, but a good 1, like, to actually meet someone that you've been working with for over a year, but never, you know, never been on a zoom call. It's always just been phone calls.

But spent 3 days with it was awesome to be in the restaurant and kind of see how the restaurant works, but also put some names with faces of the people that you run payroll for that you're tracking those tips for. So that

janis: did they find you or how did you find them in Phoenix? With you being here.

Jen: So, someone they knew was trying to help them with their books and she must have on Facebook just posted something about, I don't know, Google QuickBooks or something. And she found my name on somebody on a someone else's post. [00:17:00] Yeah, so she reached out to me. She wanted me to kind of help train her.

And unfortunately she has since passed and when she contacted me, she was terminally ill. So I told her I would train her for free as long as she, when they were ready for a bookkeeper that she recommended me. So I've been their bookkeeper ever since.

janis: oh,

Jen: yeah. So it's a sad story, but it's, you know, a heartwarming story as well because It was almost like it was kind of meant to be to be honest with you because the way it happened was not the typical Typical way things happen, but he is.

One of my best clients and is getting ready to open a second restaurant and expand his first one. And when I was in phoenix, I met another owner that I will be taking on at the beginning of august so it was Yeah. So

janis: I love

Jen: it

Michele: you can really take clients, [00:18:00] you can take clients anywhere in the United States, huh?

Jen: yes. I actually have Florida, North Carolina, Kentucky, Colorado, Phoenix, or Arizona just talk to someone in Nashville and just talk to someone in Washington state.

janis: I love it.

Michele: fun trips right

janis: Yes.

Jen: I decided I'm going to do 50. I want 50, one in every state, including Hawaii. Yeah.

janis: I

Jen: trip out of it. Once a month, I'll just go someplace else.

Michele: that would be fun.

janis: Yeah.

Michele: Oh,

Jen: Right? And it's all tax deductible.

janis: I was just going to say that. Yes.

Michele: that's very strategic there. So what marketing strategies have been the most effective for you to grow your business? Even though it's hard to find where to go for, like, where, where have you found the best networking?

Jen: Well, so it's all in how you perceive [00:19:00] networking, right? It's not necessarily that the restaurant owners aren't going to be at the, at the places I go to on a, on a daily basis. Average day. They're not going to be at the B and I's. They're not going to be at the connected or the chambers. Like they don't have time for that, but their friends do.

And people that work with them do. So really it's just about building relationships with people is, you know, and I know that a lot of networking environments are like, Oh, I'll pass your network or pass your business card. And let's talk about your business. I don't, I'm not a big fan of that approach.

I'm more, let's get to know you. Let's kind of, you know, let's build some trust before, especially when you're dealing with people's financials, it's very important to build that trust. And if you don't build that trust by networking and really getting to know somebody, then it's not going to last long. Oh,

Michele: How many more clients do you need for you to [00:20:00] be too busy for networking?

Jen: you just hit a big question that I've been asking myself a lot lately right now.

Michele: hire more to be able

Jen: Yes. Right now. I am not networking more. I'm just using it a little bit more. Making more valuable connections. So I'm staying where, you know, I'm currently at with the networking. And I have 3 major, like, I B and I, the, well, for the chamber connected and truth at work.

So those are my 4 and I'm not adding any more because that's enough meetings in a month. 

janis: Yes.

Jen: but I'm also not necessarily signing up for a lot of the extra, like with the chamber just because I just, I'm not finding the time. so yeah, so the month of July and August are super, super busy. With [00:21:00] onboarding some new clients.

So I'm not like social media marketing at this point. I'm kind of taking a break from that as well. Maybe a post here and there just so I can stay active. But yeah, that's kind of where I'm at at some point. We have to figure out how much work I can take and how much I can't. And cause I want to make sure the level of service doesn't decline.

Michele: Yeah.

I think of marketing or networking clients as like a full sink with a slow leak. Some, cause you got to keep the sink full, but some are going to drip out. So you got to keep replenishing

janis: a good analogy.

Jen: yeah, I like that.

Michele: What role does the local community play in your business?

. The biggest role that it's really played is I know this is going to sound kind of, kind of cheesy, but it's really helped me kind of grow my business and on the social [00:22:00] media side of things. So when someone puts in looking for a bookkeeper,

janis: Mm hmm.

Jen: Like I got one client because she said seven people recommended me on a Facebook group when she was asking for a bookkeeper.

So really that's how the community has helped me. Now I try to give back by doing some, , sponsoring some, some holes for some, , charities. , being part of the chamber really trying to,, volunteer for some of those things. When I can 

Michele: those are

janis: are good. Yeah.

Michele: Have you ever collaborated with another local business?

Jen: So when I first started with BNI, I collaborated with the enrolled agent. And currently we have 18 clients that we've referred back and forth between each other. But it's that trusting relationship that I know I can say, here's my clients, , reports for the year and mid year, he does both year and mid year and, , get some of the [00:23:00] information helps them set up payroll if they're switching from an LLC to an S Corp.

Helps me set that up to make sure that we are all in compliance and that they are, getting paid what the IRS considers a reasonable amount.

janis: Jen, where do you see Wayside in five years?

Jen: Well, hopefully at that in five years that we have enough clients that I have a full staff and a full head bookkeeper slash accountants in that I am overseeing it from a beach somewhere.

Michele: Yeah.

janis: I like that plan.

Jen: I still, obviously, I like, I want to be the face of the business. I don't necessarily want to be in the nitty gritty of doing the bookkeeping, but I want to be able to train everybody that works for me the way I would like it to be done. So that's a huge goal for us.

janis: Are there any new services or features that you plan to [00:24:00] introduce?

Jen: I want to partner with and I'm in talks with a friend of mine to partner with offering CFO services. So more of the analysis of those reports, right? Breaking it down to the nitty gritty and giving you very detailed information. So Janice, if you think you need, you know, you're like, oh, man, I'm thinking of expanding.

I'm going to choosing this as example , giving you the analysis where you can really make that informed decision. More of the CFO kind of services and really breaking down that data for you.

janis: Okay.

Michele: Awesome.

janis: What advice would you give to someone looking to specialize in a niche market like a restaurant and bar bookkeeping?

Jen: That's easy to say. I think the biggest thing is learning to understand the biggest pain points that restaurant owners have. Right. We all know they have high labor costs. They have [00:25:00] high cost of goods, but very little profit margin. Because us as consumers don't like to pay any more than we feel like we should.

So getting to understand all of that and how it all kind of works together and being able to find some systems that'll help you with reporting on that. I just did an analysis, one of my clients, and I was like, you know, that you haven't raised prices in two years. You're losing money right now, right?

So, you know, what was, , for, I'll just give this example. So like the cost of wings went up by 2 a pound. That's huge. If you don't raise your price, your price of wings. So, , really knowing and understanding that kind of stuff is, , what a good restaurant bookkeeper will be able to do for you.

Michele: Yeah, and then when you go to raise prices, you're going to have to raise them so much that it's going to be really noticeable. Whereas if you did it like the first year, [00:26:00] you did 25 cents, second year 50, it wouldn't be so noticeable.

Jen: Right, so now you're going to have to plan for a gradual, but it's going to be a fast gradual versus, you know, over a year. Now you're talking probably every 3 months. You should increase your prices, which means new menus.

janis: Yeah. Yeah. Which is another expense.

Jen: Exactly.

janis: Whole new menus. But some restaurants should do that anyway to, you know, keep it fresh and different and new. Instead of having the same old things all the time, I guess.

Jen: Yeah, and I've noticed a lot of restaurants. Yeah, a lot of the restaurants went to the paper or paper menus because it's a lot more affordable. And when they do rise, raise prices, it's a lot easier just to have, you know, to pay someone to print them versus. Going and, you know, having this really fancy ones made up again.

So

Michele: Yeah.

janis: See a lot of restaurants, you go in and there's a QR code now and, and don't even hand out unless you request it. Like, can I see an actual piece of paper?

Jen: yes,[00:27:00] 

Michele: right. Do you have any words of wisdom for someone looking to streamline their bookkeeping business or processes? I mean,

Jen: Make sure that you have, if, even if you don't want to hire a bookkeeper, make sure you speak with a bookkeeper to help you streamline those processes and give you, you know, even if you have to pay a consultation fee for it, it's going to benefit you in the long run.

Michele: yeah.

Jen: But a hundred percent get with someone that is professional, that knows what they're doing, even if you want to do it yourself.

But get with those people, you're not going to go, to a mechanic and, say, Hey, for some reason, this isn't working. Oh, okay. Well, what's this? Can you show me how to do it? , they're not going to show you how to do it. They're just going to want you to do it.

Right. But, in the industry, it's a, it's very common to just have a bookkeeper go over your processes with you so they can guide you on the right path so that your [00:28:00] books aren't a mess when you go to file your taxes and your CPA will thank you just as an FYI.

janis: We just don't walk in with a box full of receipts.

Jen: Yes, yes.

Michele: How do you manage everything? Do you have any tips on efficiency and organization,

Jen: So you're going to probably really laugh at me, right? So these, so there's all these task management systems, right? There's all these great things that people tell you to pay your, spend money on, and they're going to help keep you organized. I just use my Google calendar and I actually have a planner that is only a six month planner, but I write everything in my planner.

If I write it. It seems to stick in my mind more than if I put it on the computer.

janis: Yes.

Jen: I still do my to do list the same way. I write it out at the end of every day for the next day. But once again, it's because [00:29:00] if I see it, I'll remember that I have to do it. So even if it's not, if I'm not looking at that to do list, I still know I have to get it done.

But not sure everyone,

janis: as well.

Jen: yeah, I'm not sure everyone would think that was a great tip for organization. But for me, it's, it's what's worked.

janis: I like my paper calendar, but I was late. What did I miss, Michelle? And you're like, well, if you had that Google, if you used your Google, it would give you a reminder. I'm like yeah, you're right. You're right. So

Jen: So I do a little bit, I do, I use both. I do like my Google calendar because a reminder will pop up and I'm like, Oh, I completely forgot about that. So I do use both the Google and my Apple calendar and my but my

janis: planner.

Jen: My planner is, but it's also goal planner, right? So I can see my goals every day.

janis: Yeah. Yeah.

Michele: [00:30:00] another bonus for that way. I'm going to tell you another bonus for the online calendar. You

janis: okay,

Michele: always have it. You have your phone with you all the time because. You know, sometimes you're like, well, I don't have my planner right here, so I can't schedule it.

janis: that's true.

Jen: That is true, but I don't put my important stuff like that on my planner. So my planner is, yeah, most of my important stuff, like meetings and that stuff are in Google. But my planner is to help me keep organized with payroll. My to do list. I also mentor other bookkeepers. So I have a schedule for that.

janis: Yeah, I keep my planner out Beside me like all night long like on the couch So i'm just sitting there looking like this is what I have to do this tomorrow So don't stay up and binge watch tv all night long. You got to do this Because I do that sometimes It's right there every

Jen: I don't know, Janice. I don't know why [00:31:00] I can visualize that.

janis: what are you doing tomorrow and i'm like Let me see i'm doing this Or if I'm like, Oh my gosh, I don't have anything written down. What did, what am I missing? And he's like, don't pick up your phone. answer the phone. If you want a day off, don't answer your phone. So Jen, how do you ensure a great experience for your clients from start to finish?

Jen: Well, remember how we were talking about building those trusting relationships. So as a bookkeeper, you really have a People's banking information, right? You get the nitty gritty, you get their credit card information. It's a lot of personal information. So I make sure that all of that is very secure from the, from the very beginning, which helps build that trust when we were talking about building the trust.

But I also, if you ask my clients, none of them even really know that there's seven employees that work for me. Because I am who they communicate with. I am the go to [00:32:00] person. I am the one that sends everything to them. No one's ever asked me. But I always try to make my clients feel like they're my only client.

So if that means answering the phone when it's seven o'clock for me, but four o'clock for our client, then it means answering the phone. So it's being available. It's being flexible. It's being, patient. A lot of these, a lot of, especially in the restaurant industry they don't have a lot of time.

So when it's really, when you're asking for information and you're really demanding with it, It makes them not trust you and builds that kind of hurts that relationship. So, but from the beginning, we have a very outlaw outlined process as the information we need how to get me the information we need.

And then. You know, we usually most clients books don't come to us in good standings. Most of the time there's a lot of work that needs to be done on the [00:33:00] back end to get their books good. So usually to be honest with you, most business owners really don't care. They just want to know that you're doing it.

And that they don't have to. But, I work very close with the owners and the information that they provide me and to make sure that, they get the reports every month. You'd be surprised how many people pay for a bookkeeper, but they've never seen a profit and loss report.

janis: I've got a follow up question. Like your employees, you've got seven employees, do you do like background checks on them? Like if, are, are, are you the only one that looks at the personal bank account numbers and, and things like that?

Jen: So, I don't do background checks and I'll give you a little, some history. One of the biggest accomplishments I feel like I've had in the business is people with so I have three young just graduated high school Employees that work for me and they are all [00:34:00] going into the accounting field in college. They all took accounting in high school, which was a requirement to work for me.

And they've all been certified with QuickBooks but they don't see the information. That is, , like I go and get all the bank statements. I go and get all the information. So I protect all that information for my clients. They don't have access to that. I'm the only one that will do that.

janis: Good. What have you enjoyed the most about focusing on restaurant and bar bookkeeping?

Jen: , the restaurant industry, those people are fun. I have to say, Because usually they are at the restaurant. Usually, , they're enjoying themselves at the restaurant. , like when I went to Phoenix, they had the best steak I've ever had. Let me just say the best steak I have ever had.

But you know, they're just truly, they're just good hearted, hardworking people that are just trying to make a living. And if anyone ever tells you that restaurant owners [00:35:00] make a lot of money. They're, they don't know what they're talking about. 

janis: Yeah.

Jen: that always floors me like, Oh, if you own a restaurant, you make a ton of money.

No, no, no, not really. But really I just, I like, yeah,

Michele: business owners. You own a

Jen: it is

Michele: make a lot of money. Well,

Jen: I mean, and how many times, Hey, you know, do you want to sponsor this? You want to sponsor that? I know you're making money.

janis: Mm.

Jen: am, but not enough. It's never enough. You're, you know.

Michele: if I sponsor you.

Jen: Exactly. I sponsored everyone that came knocking on the door.

Michele: Right.

Jen: No, but I just, I just enjoy those people. I actually enjoy the nitty gritty of the details of their bookkeeping and understanding it a little bit more in depth than what the basic bookkeeping client is.

janis: Okay,

Michele: Okay, Jennifer, it's time for our quick fire round. We'll [00:36:00] ask you some quick questions and you tell us the first thing that comes to your mind.

Jen: Okay.

janis: What is the book that you've most given as a gift or the book that made the biggest difference for you?

Jen: I have two that have probably, I've been, especially here recently. So the first one is Networking Essentials for Success. By Chris Borja. He is actually a local he's in Dublin. But he does the connected networking groups. And I've recommended that especially in my industry because bookkeepers are behind the scenes for mainly introverts.

So it helps the introvert person kind of come out of their shell at the networking events. And then the other one is profit first.

Michele: Of course, that would be good for you.

Jen: course it deals with numbers.

Michele: Yes, I've read that one. 

janis: Writing that down.

Michele: [00:37:00] What purchase of 100 or less has most positively impacted your life?

Jen: Can I say my planner?

janis: Yes, you totally can.

Michele: have? What is the brand?

Jen: Oh, that is a good question. Actually, I have, I have a new one over here because it's only six months. So it is the legend planner pro. But it's really a goal planner as well. That's why it's only six months of of a planner, but. And I don't use all the capabilities of it, but I really like being able to, at a glance, see what my goals are, see the things I want to go, you know, see the places I want to go, things I want to learn.

Right. So it just keeps that in the forefront of my mind. So that's, that is huge for me. And I analyze my goals. Did I achieve my goals? Do I need to change them? Did I set them too high? Did [00:38:00] I set them too low? So yeah, I'm all about trying to achieve those personal goals for myself.

janis: I like it. What is an unusual habit or an absurd thing that you love?

Jen: I'm not a coffee drinker, and I have to have my Pepsi every morning.

janis: That's okay.

Jen: I have to have

Michele: too! That

Jen: I have to have Now, I do the zero sugar Pepsi now, but I have to have a Pepsi every morning. I feel like even if I just take a sip, just when I sit down at my desk, I feel like I'm ready to go. So

janis: Fizz in your mouth.

Jen: it does. It does.

Michele: sweet burn!

Jen: That sweet burn on the throat.

Michele: I am a little addicted to Diet Coke myself.

Jen: Okay.

Michele: I do have coffee in the morning, Diet Coke in the afternoon, [00:39:00] and wine at night. Just kidding!

Jen: Well, I'll tell you what I have at night later.

Michele: Okay.

janis: Hey, we're Cosmo. Oh, that's it. That's coming

Michele: Yeah.

janis: So Jen, what is your current passion project?

Jen: So when I started doing the bookkeeping business, I actually went through a bookkeeping academy to help me understand all the ins and outs. Once I did all the self taught, but also there's mentors in the group that were able to answer some questions when I get in a tough situation. So now I am mentoring new people that are coming into that program.

And I, I love it. I do about 10 hours a week. Cause I have all the time in the world. But I do enjoy it and it is like my way of giving back. So

Michele: That's awesome.

janis: know, for only doing this for a short period of time, you're, I mean, you're like kicking butt. , yeah.

Jen: Thank you.

janis: You're welcome.[00:40:00] 

Michele: is one skill you would like to master?

Jen: The skill of having a work life balance or a life work balance.

janis: Life first,

Jen: Life

janis: without.

Jen: I don't, I don't currently have that. As busy as we are, but I'm working on it and I know that it needs to change. So that's part of the problem, right? That's the first step is identifying, but really but really, if I could do anything and I could master the skill, I would master Live in my life more than working less.

janis: What was your first job?

Jen: I worked at Alliance data. Well, actually it was limited credit services back then. And I, I was 15 and a half, right? Right. When you're legal, legally able to get a job and I set up new accounts for credit card accounts. And I worked there off and on for many years. [00:41:00] Many years.

janis: You have a song that you can turn to, to pump you up, like, to get you going. What's your current pump up song?

Jen: Justin Temperlake, and since he was just in town, I really had to pick him since he was just in town. Probably can't stop the feeling.

Michele: Oh, yeah. I like that

Jen: Yeah, it is a

Michele: I even have a little dance I do to that one. Can't stop feeling it.

janis: Oh, yeah.

Jen: I think everyone does. A

Michele: Since we are called Cosmos and Commerce, what is your drink of choice?

Jen: really good, well made tequila sunrise.

Michele: Oh

Jen: They do have tequila sunsets. And those are good as well, but the sunrise is my preferred.

Michele: What's the

janis: the difference?

Jen: Don't ask me. I don't know.

janis: I had a [00:42:00] really bad experience with tequila sunrise one day or one evening.

Michele: too many.

janis: Way too many. I'm surprised I didn't get alcohol poisoning. I swear. Sorry.

Jen: Oh,

janis: It's a wonder I didn't die. And I don't think I've had one since.

Jen: that's usually how it goes is you have one bad experience and you never drink that one again.

Michele: I

janis: and that was like 1982.

Michele: just, I just went to Athens over last weekend and the bartender was making a drink and it looked really good. I was like, what is that? He said it was a tequila sunrise. So I might have to try, try one sometime. They look

Jen: And if it's good.

janis: juice, grenadine, tequila.

Jen: Yeah, that's really it.

janis: I think that's pretty much it. You just gotta get the ratios just

Jen: 100%. You got to have someone that knows what they're doing because really you shouldn't be tasting the tequila. If it's made right, you're not going to taste the tequila unless you want to, [00:43:00] then you make it a double.

Michele: juice, huh? Cherry orange juice.

janis: So Jen, would you rather handle the books for a busy Michelin star restaurant or a high energy nightclub?

Jen: Oh, I would pick the restaurant. Nightclub, there's, there's, there can be some shady stuff sometimes at some nightclubs, right? If every time you watch a crime novel, there's shady stuff at a nightclub.

Michele: Money laundering going on.

Jen: Right. I've watched too much law and order to want to do a nightclub.

janis: gosh,

Michele: Right? I

janis: those because those are taken right out of actual headlines I believe.

Michele: know.

janis: I had to stop watching that. It just scared me too

Michele: Too real.

Jen: Too real. A hundred percent.

janis: Jennifer, where can our listeners find you?

Jen: At waysidebookkeepingservices. com or our email is waysidebookkeeping at [00:44:00] gmail. com

Michele: Awesome.

janis: physical location?

Jen: We do not we are all remote virtual

janis: Okay. Okay.

Michele: Perfect. Thank you so much for being on our show, Jen. It was a pleasure listening to your inspiring story.

Jen: Oh, thank you so much. I enjoyed every minute. You guys are a lot of fun so maybe next time In the future, we'll really get together for some Cosmos.

Michele: Yeah,

janis: For sure. Are

Jen: Oh, yes. Whatever you prefer. You didn't tell me your guys drink of choice.

Michele: Oh.

janis: Do you know, I like a Cosmo. Well, actually, that's what I was drinking. Were you drinking one too, Michelle? We were drinking Cosmos when we came up with the name Cosmos and Commerce.

Jen: Love it. Love

Michele: Unfortunately, it has a double meaning. So that gets a little complicated. You know what

Jen: [00:45:00] But that's awesome. That's what's awesome about it, right?

janis: Yeah. Listeners, don't forget to subscribe and check out our past episodes on cosmosandcommerce. com.

Michele: Have a great day!

janis: Have a great day, everybody.

Jen: me. Bye, everybody.