{"id":4380,"date":"2021-03-13T08:00:00","date_gmt":"2021-03-13T08:00:00","guid":{"rendered":"https:\/\/www.zenmaid.com\/magazine\/?p=4380"},"modified":"2025-05-22T03:12:42","modified_gmt":"2025-05-22T03:12:42","slug":"maid-service-financial-systems","status":"publish","type":"post","link":"https:\/\/www.zenmaid.com\/magazine\/maid-service-financial-systems\/","title":{"rendered":"6 Ways to Improve the Financial Systems Within Your Maid Service"},"content":{"rendered":"\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Cleaning Business Owners: Take Your Passion to Profits\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/jxRHtZhqw0o?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n\n\n<p>Every entrepreneur has an idea of how they want to run their business. Early on in the entrepreneurship journey, you learn what kind of marketing systems you want to implement, what kind of people you want to hire and what you want your business to afford you.&nbsp;<\/p>\n\n\n\n<p>One area that often goes ignored until it\u2019s too late, are the financial systems that keep your business afloat.&nbsp;<\/p>\n\n\n\n<p>When you\u2019re first building your business, it\u2019s easy to put off managing finances as a low priority. If you don\u2019t have a background in finance, you might assume that you\u2019ll be in over your head when it comes to setting up financial systems.&nbsp;<\/p>\n\n\n\n<p>It might make more sense at the time to focus on marketing or sales or to reach a certain income goal before you prioritize your financials. But if you don\u2019t know what\u2019s happening in your bank account, then you can\u2019t know what is happening in your business.&nbsp;<\/p>\n\n\n\n<p>It can be scary at first. Getting to know the financial health of your business might reveal some nasty truths that you don\u2019t want to face. But without confronting the numbers, you put your business at risk of hemorrhaging money and never becoming profitable.&nbsp;<\/p>\n\n\n\n<p>Let\u2019s talk about six easy and actionable steps you can take to set up better financial systems within your maid service.&nbsp;<\/p>\n\n\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-55293d08 default uagb-is-root-container\">\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-uagb-container uagb-block-34ef3265\">\n<div class=\"wp-block-uagb-marketing-button uagb-marketing-btn__align-center uagb-marketing-btn__align-text-center uagb-marketing-btn__icon-after uagb-block-e8d60bae wp-block-button\"><a href=\"https:\/\/get.zenmaid.com\/?via=magazine\" class=\"uagb-marketing-btn__link wp-block-button__link\" target=\"_blank\" rel=\"noopener noreferrer\"><p class=\"uagb-marketing-btn__title\">start your free zenmaid trial<\/p><svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 512 512\"><path d=\"M384 320c-17.67 0-32 14.33-32 32v96H64V160h96c17.67 0 32-14.32 32-32s-14.33-32-32-32L64 96c-35.35 0-64 28.65-64 64V448c0 35.34 28.65 64 64 64h288c35.35 0 64-28.66 64-64v-96C416 334.3 401.7 320 384 320zM488 0H352c-12.94 0-24.62 7.797-29.56 19.75c-4.969 11.97-2.219 25.72 6.938 34.88L370.8 96L169.4 297.4c-12.5 12.5-12.5 32.75 0 45.25C175.6 348.9 183.8 352 192 352s16.38-3.125 22.62-9.375L416 141.3l41.38 41.38c9.156 9.141 22.88 11.84 34.88 6.938C504.2 184.6 512 172.9 512 160V24C512 10.74 501.3 0 488 0z\"><\/path><\/svg><p class=\"uagb-marketing-btn__prefix\">Get access to Premium Features for FREE for 14 days<\/p><\/a><\/div>\n<\/div>\n<\/div><\/div>\n<\/div>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 id=\"heading-1\" class=\"wp-block-heading\">Separate your personal and business expenses&nbsp;<\/h2>\n\n\n\n<p>It\u2019s important not to commingle your funds. As a business owner, you need to have a separate bank account for your business that you don\u2019t use for personal spending.&nbsp;<\/p>\n\n\n\n<p>Separating your personal and business expenses will help you get a clearer picture of your finances. It will also make it easier to track your spending, and understand your numbers come tax time.&nbsp;<\/p>\n\n\n\n<p>Whether you\u2019re handling your finances yourself or working with a professional, keeping these accounts separate will reduce any confusion around how much your business is spending.&nbsp;<\/p>\n\n\n\n<p>Having separate accounts is also key when it comes to managing cash flow. You\u2019ll have a more accurate idea of how your business expenses compare to your revenue.&nbsp;<\/p>\n\n\n\n<h2 id=\"heading-2\" class=\"wp-block-heading\">Categorize transactions line by line<\/h2>\n\n\n\n<p>Set aside time on a weekly or monthly basis to go through your bank statements line by line and categorize all of the transactions. This will become so much easier when your account is exclusively for business spending as you won\u2019t have to sift through personal transactions.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/8Hs8RJBHp6KnSfnVNAzctPiSeLr5W8nHtB6YQDznLaMTQ-K3gPhQB8LFnd-uQ7TK4PtpE_x6WZgDUNgdzf3-zobQt1n5Om_XhaI24JwCiG9sfCMhQ23UvO7g0C_Aysu0OiX-zMHG\" alt=\"\"\/><\/figure>\n\n\n\n<p>For each item you spend money on, give it a label. These labels can include things like marketing activities, office supplies, staff costs, software costs, and more. The goal is to understand where every single dollar you are spending is going.&nbsp;<\/p>\n\n\n\n<p>You\u2019ll be able to have a birds-eye view of how much you spend on each category of your business, and where you might need to reduce costs.&nbsp;<\/p>\n\n\n\n<p>Then, review this data weekly to keep track of what areas of your business you\u2019re spending the most money on.&nbsp;<\/p>\n\n\n\n\n\n<h2 id=\"heading-3\" class=\"wp-block-heading\">Calculate your profit on a weekly basis&nbsp;<\/h2>\n\n\n\n<p>Working with a bookkeeper can save you a lot of time from handling your finances yourself. However, Denai recommends that you still calculate your own profits on a weekly basis until you are <a href=\"https:\/\/www.zenmaid.com\/magazine\/marketing-numbers-you-need\/\" target=\"_blank\" rel=\"noopener\">comfortable enough with your own numbers<\/a>.&nbsp;<\/p>\n\n\n\n<p>A lot of times, when working with a bookkeeper, you\u2019re getting lag reports. Your bookkeeper will likely send you a report around once a month. So you end up seeing your numbers after the fact and aren\u2019t able to make adjustments to your budget or spending until it\u2019s too late.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/cUn3XO2YxgDLSjJB-fqJQLbJ2QdiLOnYBv3HvZpVT5IQg9DkSLk6UmkIxd54fI99oB-Ql2yddEjdyRwxjHoM5Hq-DW2182SldUiHkmG2Ik2H60fWen44B2m5x3BZHlyWdGgWMhtg\" alt=\"\"\/><\/figure>\n\n\n\n<p>Depending on what stage your business is in, this might not be an issue. However, if it\u2019s early days and you are trying to be as lean and profitable as possible, adjusting your budget once a month might not be enough.&nbsp;<\/p>\n\n\n\n<p><p>Calculating your numbers every week ensures that every decision you make is based on your most up to date financial data.&nbsp;<\/p>\n<p><a href=\"https:\/\/get.zenmaid.com\/\"><img decoding=\"async\" src=\"https:\/\/www.zenmaid.com\/wp-content\/uploads\/2019\/05\/free-trial-banner-1.png\" alt=\"\"><\/a><\/p><\/p>\n\n\n\n<h2 id=\"heading-4\" class=\"wp-block-heading\">Focus on the things that make the most of your money&nbsp;<\/h2>\n\n\n\n<p>Numbers don\u2019t lie. Make sure you\u2019re focusing most of your energy on the aspects of your business that make the most money.&nbsp;<\/p>\n\n\n\n<p>This includes tracking how well each of your <a href=\"https:\/\/www.zenmaid.com\/magazine\/21-ways-to-market\/\" target=\"_blank\" rel=\"noopener\">marketing channels<\/a> is doing. Calculate how much you are spending in marketing dollars and which channels create the most profits. It can be tempting to want to tackle as many marketing channels as possible.&nbsp;<\/p>\n\n\n\n<p>Making new marketing channels profitable can take time. So unless you are willing to lose money up front through testing and experimentation, stick to the channels that you\u2019ve proven work well for your business.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/5DSmUPLNYqSPfjr-kgVt0e8AeAY9u8Wdq4mO4FlNxMmHoCXDMUyE_8frJcox6AblAfMx69ctf3sdF0zkV9_cNeEUowMdqQQz066qUDHpuI-eiYqw5YFN0FY2jQazD_JH0HNeLMPa\" alt=\"\"\/><\/figure>\n\n\n\n<p>Focusing on the things that make you money also means not fixating on things that don\u2019t matter, such as overall revenue. When tracking your numbers, profit is the most important number to watch.&nbsp;<\/p>\n\n\n\n<p>Without profits, your business won\u2019t be sustainable for long because it\u2019 won\u2019t be able to sustain your lifestyle.&nbsp;<\/p>\n\n\n\n<h2 id=\"heading-5\" class=\"wp-block-heading\">Think like a CFO&nbsp;<\/h2>\n\n\n\n<p>If you\u2019re not in a place where you can <a href=\"https:\/\/www.zenmaid.com\/magazine\/hire-best-employees\/\" target=\"_blank\" rel=\"noopener\">hire someone <\/a>to manage all of the finances of the business, it\u2019s important for you, as the owner to own the role.&nbsp;<\/p>\n\n\n\n<p>Acting as your own Chief Financial Officer forces you to prioritize handing your finances on a regular basis. It will also help you prioritize creating financial systems that make sure you&#8217;re building a business to support the life you desire.&nbsp;<\/p>\n\n\n\n<p>When thinking like a CFO, it\u2019s important to be as organized as possible. <a href=\"https:\/\/www.zenmaid.com\/magazine\/systems-for-your-maid-service\/\" target=\"_blank\" rel=\"noopener\">Create and document systems<\/a> around your financial processes. Creating these systems early on will also make it easier to hire someone else to step in and take over the financial planning aspects of the business.&nbsp;<\/p>\n\n\n\n<h2 id=\"heading-6\" class=\"wp-block-heading\">Determine your financial goals&nbsp;<\/h2>\n\n\n\n<p>When you\u2019re running a business, your job is to make money. The only way to make money in a sustainable way is to <a href=\"https:\/\/www.zenmaid.com\/magazine\/marketing-numbers-you-need\/\" target=\"_blank\" rel=\"noopener\">understand your numbers<\/a>. You need to know how much money is coming in and out of the business to make sure your business stays in a financially healthy position.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/m0C-ihbCNJJwVBg8e1hVOipBiB9qbiETFCwqn72IvbiwjsWY__OvOv-gNyzMBJ-Esoe_mLbe0TY3ZDUoMRzNtBMQQGzB7YmyPy3JV2X5EVhXGwWS1vWev5VN3JjKXFlbiJkxP9rS\" alt=\"\"\/><\/figure>\n\n\n\n<p>Ask yourself whether or not your current business will support the lifestyle that you want. When you started your business, it\u2019s likely that you had a financial goal in mind.&nbsp;<\/p>\n\n\n\n<p>If not, it\u2019s important to really think about how much profit your business needs to make to support your lifestyle and allow the business to continue growing.&nbsp;<\/p>\n\n\n\n<p>You can start figuring out this number by calculating how much you want to pay yourself as your annual salary. Then, by looking at your current revenue and expenses, you should be able to determine if this is a realistic amount. If it\u2019s not feasible at the moment, then you need to find ways to increase your profits so that you can meet those income goals.&nbsp;<\/p>\n\n\n\n<h2 id=\"heading-7\" class=\"wp-block-heading\">Final Thoughts<\/h2>\n\n\n\n<p>Think deeply about why you started your business. Whatever that reason, the success of that goal comes down to making enough money to achieve it. Whether you want to help more people, impact your community, or feel more financially secure for your family, the more money you make, the easier it will be to fulfill that \u201cwhy\u201d.<\/p>\n\n\n\n<p>You put time and energy into things you think are important and somewhere along the way, managing finances became less of a priority. It\u2019s time for that to change.&nbsp;<\/p>\n\n\n\n<p><p>To learn more about how to manage your finances as a maid service owner, or how to hire someone who can, check out Denai\u2019s complete presentation from the <a href=\"https:\/\/youtube.com\/playlist?list=PL8Co4V1UoDDCZu4_Y7ou-bUK_eedR74Fn\" target=\"_blank\" rel=\"noopener\">2020 Maid Summit<\/a>.&nbsp;<\/p>\n<p><strong>About the presenter<\/strong><\/p>\n<p>Denai Wolfe is a Virtual CFO, founder of <a href=\"https:\/\/thechiccfo.com\/\" target=\"_blank\" rel=\"noopener\">The Chic CFO<\/a> and host of <a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/the-profit-factor\/id1481355987\" target=\"_blank\" rel=\"noopener\">The Profit Factor<\/a> podcast, and is dedicated to helping entrepreneurs increase their profits and decrease their stress. She works with business owners to empower their understanding of their finances and help them make financial improvements within their company.&nbsp;<\/p><\/p>\n\n\n\n<p><p><em><span class=\"notion-enable-hover\" data-token-index=\"0\">This talk first aired at the 2020 Maid Service Success Summit. <\/span><\/em><\/p>\n<p><em><span class=\"notion-enable-hover\" data-token-index=\"0\">The Maid Summit is an annual online event that brings together the most successful leaders in the cleaning industry, like Debbie Sardone, Angela Brown, Courtney Wisely, Amy Caris, Chris Schwab and more. Get free access to masterclasses and workshops that will help you to grow, scale and automate your cleaning business so you can get more leads and create more profit. Make sure you\u2019re <\/span><a class=\"notion-link-token notion-enable-hover\" href=\"https:\/\/www.zenmaid.com\/newsletter\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-token-index=\"1\"><span class=\"link-annotation-unknown-block-id-1412232294\">on our email list<\/span><\/a><span class=\"notion-enable-hover\" data-token-index=\"2\"> to find out how to get free tickets to the next event.<\/span><\/em><\/p><\/p>\n\n\n\n\n\n<p>If you found this article helpful, check out these ones, also on ZenMaid Magazine:<\/p>\n\n\n<ul class=\"wp-block-latest-posts__list wp-block-latest-posts\"><li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.zenmaid.com\/magazine\/quick-guide-faqs-for-marketing-a-cleaning-business\/\">Quick Guide: FAQs for Marketing a Cleaning Business<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.zenmaid.com\/magazine\/the-books-that-changed-how-i-run-my-cleaning-business\/\">The Books That Changed How I Run My Cleaning Business<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.zenmaid.com\/magazine\/cost-to-start-a-cleaning-business\/\">How Much Does It Really Cost to Start a Cleaning Business?<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.zenmaid.com\/magazine\/how-to-market-a-cleaning-business\/\">How to Market a Cleaning Business: 10 Strategies that Actually Work<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.zenmaid.com\/magazine\/how-natalies-15-clean-built-a-15-year-business\/\">How Natalie&#8217;s $15 Clean Built a 15-Year Business<\/a><\/li>\n<\/ul>","protected":false},"excerpt":{"rendered":"<p>Every entrepreneur has an idea of how they want to run their business. Early on in the entrepreneurship journey, you learn what kind of marketing systems you want to implement, what kind of people you want to hire and what you want your business to afford you.&nbsp; One area that often goes ignored until it\u2019s [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":4860,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"%%post_title%%","_seopress_titles_desc":"Denai Wolfe tells you everything you need to know about Maid Service Finances: Set up financial systems for your cleaning business that will help you grow.","_seopress_robots_index":"","footnotes":""},"categories":[125],"tags":[162,161,80,34],"class_list":{"0":"post-4380","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-accounting","9":"tag-finances","10":"tag-maid-service-systems","11":"tag-systems"},"_links":{"self":[{"href":"https:\/\/www.zenmaid.com\/magazine\/wp-json\/wp\/v2\/posts\/4380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zenmaid.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zenmaid.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zenmaid.com\/magazine\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zenmaid.com\/magazine\/wp-json\/wp\/v2\/comments?post=4380"}],"version-history":[{"count":8,"href":"https:\/\/www.zenmaid.com\/magazine\/wp-json\/wp\/v2\/posts\/4380\/revisions"}],"predecessor-version":[{"id":11585,"href":"https:\/\/www.zenmaid.com\/magazine\/wp-json\/wp\/v2\/posts\/4380\/revisions\/11585"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zenmaid.com\/magazine\/wp-json\/wp\/v2\/media\/4860"}],"wp:attachment":[{"href":"https:\/\/www.zenmaid.com\/magazine\/wp-json\/wp\/v2\/media?parent=4380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zenmaid.com\/magazine\/wp-json\/wp\/v2\/categories?post=4380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zenmaid.com\/magazine\/wp-json\/wp\/v2\/tags?post=4380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}