Mileage Monday: Meet Jody Jordan, CPA
Every Monday, we’re highlighting one of those users, their business, their app recommendations and more. Want to be featured? Send us a Tweet @MileIQ.
We’ve highlighted a variety of business owners in our weekly Mileage Monday posts, but considering how much we talk about taxes, it’s shocking we’ve never featured an accountant! Well that changes today as you meet Jody Jordan – Owner & Chief Number Cruncher at Jody Jordan CPA, PLLC.
Tell us about your business. What does a typical day look like for you?
A little over a year ago, I took the leap of faith to begin my own accounting practice. My focus is to bring financial peace to small and mid-size business owners. I embrace cloud accounting to work in real time with my client’s financial data. I provide bookkeeping, accounting and consulting services to a variety of clients in various states. Each client is unique which keeps my accounting skills sharp.
I run my accounting practice from my home office in Olive Branch, MS (a stone’s throw from Memphis, TN). I am a very routine and scheduled person when it comes to completing client’s task. Each day’s tasks are different depending on the services my clients need. I could be processing bills for payment, updating bank and credit card information, updating budgets, reconciling accounts, processing payroll, training on QuickBooks Online, consulting, etc. The list is unlimited when it comes to number crunching.
How many miles do you drive in a typical week? Where do you drive as part of your job?
One advantage of being a cloud accountant is that I do not have to drive much at all. Gone are the days that I would have to pick up client workpapers to pay bills and compile their financial statements. I drive 10 – 20 miles a week when meeting with a new client at their office. Or, we may meet at Starbucks when they have a home office as well.
What’s changed since you started using MileIQ?
Not only do I drive for work, but I also drive for my volunteer work with American Cancer Society’s Relay for Life. Using MileIQ allows me to easily categorize whether my drive was for business or charity miles.
What other apps do you recommend to other small business owners?
This is a great time to be an accountant. There is a plethora of apps that allow us and our clients to work smarter, not harder. My must haves at this time are as follows:
- QuickBooks Online
- Bill.com for accounts payable/accounts receivable
- ZenPayoll for full service employee payroll and contractor payments
- TSheets for employee time tracking
- GoogleDocs for file sharing and collaborating with clients
- Dropbox also for file sharing with collaborating clients
- Funding Gates to assist with collecting outstanding Accounts Receivable
- Expensify for employee expense report tracking and record keeping
- Fundera for shopping and applying for business loans
- MileIQ for everyone needing to track business miles
What’s the biggest challenge you face running your business, and how do you address it?
Finding new clients is challenging. Since I don’t have a brick and mortar building with my name on it, I go unnoticed. Therefore, I am a member of our local Chamber of Commerce to engage in in-person networking. I am also an active participant on social media.
What do you enjoy the most about the kind of work you do?
I am constantly learning new things. Not a day goes by that I have not obtained new accounting knowledge. Having clients in different industries challenges me to learn more about their business. And with the technology strides made in the accounting profession, I am always testing out new apps.
What tip would you share with other business owners?
We are creatures of habit. Try to break the mentality of “we’ve always done it this way.” Your financials are the backbone of your business. They can give you a roadmap of where your business has been and where it is going. Test out new software and apps that give you that useful financial information. Take advantage of the free trial periods offered by the app vendors.
As an accountant, what’s the biggest tax mistake you see your clients making?
Waiting until the last minute to get their financial statements together in order to file the tax return. At that point, it is too late for valuable tax planning. Accountants can offer huge tax savings advice when they are overseeing your financials on a monthly or even quarterly basis.
When it comes to mileage deductions and mileage logs, how prepared are most people come tax time?
I have been in public accounting for over 15 years now. Rarely, as in 2 percent of the time, do I actually see hard documentation of mileage the employee, business owner or business wants to claim on the tax return. MileIQ can make this a painless, worry free process. I encourage all of my clients to use this app.Only two percent of the time, do I actually see hard documentation of mileage the employee, business owner or business wants to claim on the tax return.Click To Tweet
What’s the best piece of accounting advice you would give self-employed professionals?
Retain a knowledgeable accountant to provide guidance on being self-employed. Most do not know they are not employees of their own company and will be taxed on the profit of the business rather than the cash they take out of the business. Understanding tax implications is very important.
Where can people learn more about your business?
You can read more about me, my staff accountant and adorable intern (who has fur) at www.accountingpeace.com.