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Xero for Course Creators

xero Aug 15, 2021

At Of Course Bookkeeping, our select software for Online Course Creators and Ecommerce is Xero.

Here's why:

Here are some of the reasons it's best for course creators:

  1. Easy to understand dashboard

    When you books are up to date, you have a visually easy to understand dashboard, helping you understand where your money is and where it's going.
  2. Integrates with PayPal & Stripe without a 3rd party app

    PayPal and Stripe are the top payment processors for course creators, and Xero integrates with it seamlessly (like a bank account) so we can track each transaction easily to know which products you're selling the most of.
  3. Helps us efficiently code and categorize transactions

    Xero has this awesome tool called cash coding which enables us to code a large mass of similar transactions quickly and easily. Because of this, we offer unlimited transactions in our service packages. You aren't penalized for launching and making more money! This gives us more time to have meaningful...
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Profit First Basics

budgeting profit first Aug 03, 2019

So you’ve read or maybe listened to Profit First, by Mike Michalowicz. Or you’ve heard about it, but you aren’t much of a reader and you’re looking for the cliff notes version.

The premise

The main idea is to take your profit first, instead of waiting until year end when you file taxes and your accountant tells you what your profit was. You basically budget your profit into your business and work backwards from there. Profit First is essentially the envelope method of budgeting, but for business, and using bank accounts instead of envelopes—because you can’t run a business with cash this day in age.

The 5 envelopes (bank accounts)

You will start by opening 5 bank accounts for your business:

  1. Profit - this is where you will transfer and keep your profit

  2. Owner’s Pay - this is where you will transfer the money you pay yourself

  3. Taxes - you guessed it, this is where you’ll transfer the money for the tax man.

  4. Operating Expenses (Opex)...

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Course Creator's KPI Cheat Sheet

Wanna see how you stack up against your industry peers? Download the Course Creator's KPI (Key Performance Indicators) Cheat Sheet!