bookkeeping for yoga teachers

As a yoga teacher, you probably know how to stay cool most of the time, but if something disrupts your breathing, then that has to be all those boring things like bookkeeping. That’s not the reason you became a yoga teacher, right? Don’t fall into despair, modernization has reached that field as well, and bookkeeping for yoga teachers no longer has to be a nightmare.

Why Does a Yoga Teacher Need to Know Everything About Bookkeeping?

If you’ve finally decided to become a yoga studio owner, you’re probably very excited and on cloud nine. However, between choosing the perfect yoga mat and drapes for your new yoga studio, you have to ensure you understand some basics of running a small business.

If you want to earn money, you need bookkeeping, you can’t run your studio without it. At the very beginning, while you still don’t have a lot of yoga students, it might seem that an Excel sheet will do the work, and you can deal with invoicing and scheduling payments.

However, sooner or later, day-to-day accounting will become a nightmare, and you’ll start lagging behind. Instead of thinking of tax season, focus on your next yoga class, and leave the accounting to those who actually know how to do it. So, breathe in deeply, and let’s start!

What’s Bookkeeping?

You worked hard and studied to become a yoga instructor, but one of the things you probably weren’t counting on when starting a small business is that you’ll have to deal with all sorts of business administration.

On a yoga teacher training course, they probably don’t tell you when the tax year starts or how tax return work. Simply put, bookkeeping is the process of recording all financial transactions of a business.

What Bookkeeping Comprises of?

Bookkeeping is a seemingly easy process of making records of daily transactions and cash flow, but it also includes taking care of payroll, financial statements, bills, and all sorts of taxes and tax deductions. As a business owner, you should have an idea of how these things work, but you shouldn’t be the one taking care of it.

Bookkeeping for Yoga Teachers Done Properly

Female businesswoman sits next to a large stack of accounting paperwork

As a yoga studio owner and teacher, you probably know many ways to calm yourself down, even in the most stressful situations. Although bookkeeping doesn’t necessarily have to be stressful, it can look very new and scary to someone who’s never done anything like this. So in case you want to try and do it on your own, prepare to take a deep breath, breathe in and breathe out, and let’s start with some useful tips.

What’s the Best Bookkeeping Solution for Yoga Teachers?

Of course, this is something that you could do on your own, but if you’re really not into numbers, taxes, and finances, why not leave it to someone who is? When thinking about starting a yoga business, one crucial step you should make is to invest in bookkeeping services. Of course, nowadays, there are plenty of providers that offer these services at a reasonable expense, and one of them is LessAccounting. As the name implies, you’re the one who will be doing less accounting.

Although they are most famous for their accounting software, LessAccounting also offers reliable bookkeeping services for small businesses. You will get a dedicated Certified Public Accountant who will take care of everything and help you optimize your business administration. Your designated bookkeeper will keep your books up to date, give you free tax advice if needed, prepare monthly statements, and much more.