Small Business & Nonprofit Finance Blog

By Jasmine Thompson | Stellar Consulting Inc. A client called me after receiving an email from a program officer she'd had a great relationship with for years. The email was about $4,200 of expenses she'd charged to a federal grant that the grant language didn't cover. She'd been a good steward of that grant in every other way, she just hadn't caught this one detail. Here's what happened, and more importantly, how we made sure it never happened again. The Call I Never Want Yo

By Jasmine Thompson | Stellar Consulting Inc. One of the first things I ask a new nonprofit client is: "Do you receive any federal funding?" If the answer is yes, the next question is: "Has anyone walked you through 2 CFR 200?" In almost every case, the answer is no, even from organizations that have been receiving federal grants for years. That always stops me in my tracks. Not because I'm surprised anymore, but because I know what that gap can cost an organization, in audit

By Jasmine Thompson | Stellar Consulting Inc. A client came to me after she had to let her first employee go after four months. She'd made the hire at what felt like the right moment, revenue was up, she was overwhelmed, and she needed help. But three months in, the cash wasn't there. She did everything right except check three numbers first. Hiring your first employee is one of the most significant financial decisions a small business owner makes, and one of the most emotion

By Jasmine Thompson, Stellar Consulting Inc. In the same month, I had two very different conversations about how owner's actually pay themselves. One client hadn't paid herself in three months. Another had been paying himself every week, more than the business could really sustain. Both situations were problems. Neither owner had meant for it to happen. Owner pay is one of the most personal, and most financially significant, decisions a small business owner makes. And it's on

By Jasmine Thompson | Stellar Consulting Inc. Over 20+ years of working with small business owners, I've collected a list of the beliefs that cost people the most money, not because anyone was careless, but because no one ever told them otherwise. Let me fix that. Every one of the myths below is something I've heard from real clients, smart, capable people who were working with incomplete information. None of these beliefs are your fault. Most of them came from well-meaning a

By Jasmine Thompson, Stellar Consulting Inc A few years ago a client called me on a Thursday afternoon. "Jasmine, I don't understand, we had our best month ever in September, but I'm looking at my bank account right now and I don't know how I'm making payroll on Friday." Here's what was actually happening. The Thursday Phone Call My client owned a catering and entertainment business here in Los Angeles. September had been incredible, multiple large events, a packed schedule,

By Jasmine Thompson | Stellar Consulting Inc The first thing I do when a new client gives me access to their QuickBooks is run a report I call the "chaos check." In 20+ years I've done this hundreds of times. What I'm about to share is what I almost always find and what it means for your business. I want to be clear before we go further: none of this is a reflection of your intelligence or your dedication to your business. The clients I work with are smart, hardworking people

By Jasmine Thompson | Stellar Consulting Inc Nonprofits and community-based organizations face a financial compliance burden that most for-profit businesses never encounter. Federal awards, state contracts, city and county grants, each comes with documentation requirements, reporting standards, and audit exposure that can sink an organization if the financial infrastructure isn't built to handle it. The good news: the right technology makes a lot of this manageable and attain

By Jasmine Thompson | Stellar Consulting Inc Running a nonprofit or community-based organization today requires a level of financial sophistication that most organizations weren't built for and that funders increasingly expect. The mission is what drives you. The compliance is what keeps you funded. And somewhere in between, the financial management of the organization often becomes the thing that keeps executive directors and finance staff up at night. I've spent over 20 yea

By Jasmine Thompson | Stellar Consulting Inc There's a version of financial support that most small business owners know about: the bookkeeper. The person (or software) that records what happened — every sale, every expense, every payroll run — and keeps the records clean. And that matters. Clean records are the foundation of everything. But there's another level of financial support that most small business owners don't even know they can access — and it's the one that actua

The most financially confident small business owners I've worked with don't all have the most complex systems. They don't all have the biggest budgets or the fanciest software. What they have in common is this: they check in with their numbers every single month. Not at tax time. Not when something feels off. Not when the bank balance dips and there's a sinking feeling in the stomach. Every. Single. Month. And the check-in doesn't take long.

Let's be honest about something. Most small business owners don't struggle with bookkeeping because they're not smart or capable. They struggle because no one ever gave them a simple, practical system to follow — one that works in real life, week after week, not just during tax season panic. That's exactly why I created the Small Business Bookkeeping Bundle. It's not a course. It's not complicated software training. It's a ready-to-use toolkit — checklists, trackers, and plan

One of the biggest shifts I've seen in small business finances over the last decade isn't a new strategy or a smarter spreadsheet — it's technology. The best tech tools don't just make bookkeeping easier for small business owners. They save you hours every week, reduce errors, help you collect faster, and give you a real-time view of your business finances without requiring a finance degree to understand. But here's the problem: there are hundreds of tools out there, and not

Running a small business in today's environment is not for the faint of heart. Between rising costs, inconsistent cash flow, the pressure of tax compliance, and the constant juggle of doing everything yourself — the financial side of business ownership can feel like it's working against you, even when things are technically going well. If you've been feeling the weight of it lately, I want you to know: what you're experiencing is real, it's common, and there's a path through

Let me ask you something honest: when was the last time you closed out a month and actually knew where your business stood financially? Not a rough guess. Not a glance at your bank balance and an assumption that things are "probably fine." I mean a real, clear picture — what came in, what went out, what you're owed, and what you owe. If you hesitated before answering, you're not alone. Most small business owners are so focused on running the business that the books get pushed

Let's talk about something most small business owners don't find out until it's too late. You're busy. You're building. And bookkeeping? It keeps getting pushed to the back burner because the business keeps moving. A few missed months here, some unreconciled bank accounts there — it doesn't feel urgent. Until it is. Because the real (true) cost of bookkeeping mistakes isn't just a pile of messy receipts. It's missed opportunities, overpaid taxes, bad financial decisions made

Use this simple bookkeeping checklist to stay consistent with your small business finances. Daily, weekly, monthly, quarterly, and annual tasks—plus tools to make bookkeeping easier.

Grant funding is a powerful way to grow your mission (or your business). But once the award letter comes in, many leaders realize something fast: getting the grant is only step one. The real work is staying compliant—while still keeping day-to-day finances clear enough to make good decisions. If you’ve ever thought: “We’re doing the work… but I’m not sure we’re tracking it correctly.” “I’m scared of an audit—even though we’re not doing anything wrong.” “I need financial repor

Are you interested in getting personalized training for YOUR Quickbooks Desktop or QuickBooks Online company account by a certified Advanced Quickbooks Pro Advisor, so that you can better understand: ✔️ How to accurately use the software for your business needs? ✔️ Maximize your time while managing your bookkeeping? ✔️ Have questions that you still need answered? ✔️ Take advantage of all that QBO has to offer? Please know that you are not alone and this is the QuickBooks Onli

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