Why an Indie Accounting Podcast Is Not Boring!

Try to stay awake. I’m going to be discussing accounting and bookkeeping. Come on now. I see your eyes closing! What I love about this indie podcast is that it faces its perceived weaknesses head-on (accounting is boring!) and inverts them into a strength.

The Not Boring, Boring Bookkeeping and Small Business Podcast explores the human side of bookkeeping and business. The show’s creator/host, Paul Rosenblum, is a New York-based bookkeeper with over 30 years of experience and decades of teaching QuickBooks. This podcast is for bookkeepers and small business owners who know business is about more than just numbers.

Paul Rosenblum is a surprisingly upbeat, witty, and engaging host. I know that sounds like the proverbial left-handed compliment. Accountants and bookkeepers are often typed as boring. Rosenblum has a knack for narrative and clearly knows his bookkeeping stuff.

Rosenblum insists: “Tax prep starts now — not later. Getting your deductions organized early can save stress, time, and money when tax season rolls around.”

The podcast’s marketing says: “Our resident Bookkeeping Mensch, Paul Rosenblum, knows that whether you’re a W-2 employee or running your own business, knowing what to track now will keep your books in top shape — and your future self will thank you.”

Accounting is crucial for small businesses to ensure financial health, compliance, and sustainability by tracking cash flow, managing expenses, and enabling informed decision-making. It provides a clear picture of profitability via balance sheets and profit-and-loss statements, helping owners avoid common pitfalls like insolvency and tax penalties.

Proper accounting monitors money coming in and out, which is vital for preventing the cash flow shortages that cause many small businesses to fail. It ensures accurate reporting to the IRS, prevents audits, and helps maximize deductions to reduce tax liability. Regular accounting reports (balance sheets, P&L) allow owners to analyze which products or services are profitable and where costs can be cut.Accurate financial data allows owners to make sound, data-driven decisions about expanding, hiring, or taking out loans.

It’s a show that is timely and pertinent since so many people have these side hustles.

Rosenblum explains the difference between bookkeeping and accounting. While closely related, Each serves a distinct role in managing a business’s finances. Bookkeeping is the systematic process of recording daily financial transactions, ensuring that every income and expense is accurately documented and organized. It focuses on maintaining detailed and orderly records of all financial activities. Accounting, on the other hand, builds on the data provided by bookkeeping to analyze, interpret, and summarize financial information.

In the show’s first episode in April 2022, Rosenblum explains ‘Startup Expenses’, and how should they be entered into a bookkeeping system as expenses or another category. What I did not realize is how important they are to a professional set of books as you’re starting your business before your first sale.

Since it’s tax time now, Rosenblum’s 2023 episode — Organizing Your Tax Records — is especially pertinent. In the show, Rosenblum reminds us: “Remember, the IRS requirement is to retain readable receipts for seven years. But how? In order to show you, I’ll explain how I’ve used both a paper and digital filing system to stay IRS organized. Keeping meticulous records can help you avoid issues during audits. You may think that you don’t have time to keep your business records this organized BUT not making the time can cost you a lot, both in time and money.”

The Not Boring, Boring Bookkeeping and Small Business Podcast is another example of the underlying strength of podcasting. What TV shows or movies have bookkeeping how-to’s and training sessions? Sure, YouTube does, but none as entertaining and in-depth as this podcast.

Kudos to Paul Rosenblum for making a potentially sleep-inducing subject into a topic that is relevant, lively, and informative.