Hello, my name is Laura Cline.
I am a full charge bookkeeper working for a disaster restoration company in Southwestern
Ontario. I also co own a small bookkeeping firm called My Better Books. I have been working in
this industry for over six years, but my story starts back in 2007.
After working in the healthcare industry for 5 years, I realized this was not my passion. I loved
marketing, business development, sales, and finding ways to enhance profit with creative ideas.
So, I left my current job in health care and started a small cleaning business called Modern Maid
services. I had a partner in this business and quickly realized we had different visions. In 2008
when opportunity knocked, I answered! I purchased a franchise at the age of twenty-five with
limited business knowledge and extremely limited capital. This was the greatest education I
have received! The education of hard knocks! nothing like purchasing your first business at the
start of a recession.
I knew enough to know I did not know anything! I hired a bookkeeper who turns out was more of
a tax preparer, and less of a bookkeeper. At the time I did not know there was much of a
difference, and I definitely did not know if they were doing their job correctly. After six years of
establishing business connections, learning the ins and outs of my industry, getting a fast-track
education on franchise agreements, lease agreements, negotiating, sales, inventory
management, and team building, my business was audited by CRA.
Three days of CRA setting up shop in my office, going through all transactions since the start of
my business I got an eye-opening look into the world of bookkeeping and how wrong it can go. I
knew the business was not as profitable as it should be. I kept working harder, longer, pushing
sales, innovative marketing campaigns, but nothing was changing my financial situation. I did
not understand the financials of my own business and I really did not know how bad my books
were until the Canada Revenue Agency enlightened me. They also gave me a hefty parting gift,
a bill for $18,000 dollars. I was devastated, I could not pay that bill. I struggled to make payroll
for some months. So, I sold the business! and me along with it. The new owner was not new to
business or finance, and he saw potential in me. You may have heard of that wildly popular
weight loss business in the 90's called Herbal Magic? My new boss was the guy who started
and eventfully sold that business for millions. I worked for him over the next year learning
everything I could, soaking up all the information and experiences coming my way.
I left that position at the end of that year. I needed to branch out and explore other business opportunities. I went to work for the man who had started the franchise I had bought into back in 2008. Now 2015 with 7 years of experience under my belt, I had the privilege of learning from a man who had business experience that almost exceeded my age. I worked in various industries as his business portfolio included real estate, restaurants, retail, beauty industry, and service-based sales. I was able to get a front-row seat at large franchise meetings. Learning the art of negation, understanding contracts, and looking for loopholes. Franchise development, business start-up procedures, sales, and the psychology behind it (sales truly is an art when done correctly). I learned about pricing models, sales projections, and forecasting profitability. I learned not every idea is good and not every business will be a success. I also learned that it's ok to fail, that is the journey to achieving your goal, building the business of your dreams.
I collaborated with him full-time until 2017. I knew as much as I loved everything I was learning, I did not want to build a business for someone else, I wanted my own. I also knew not to repeat the mistakes of the past! This time I would know how to read a balance sheet, Profit & Loss statement, and cash flow statement. I would not only know how to read and understand what the financials were telling me, but I would also know how to prepare them. Financials are the lifeblood of your business. This time I would know my KPI's. I would have a plan for cash flow management, I would take charge of my own success. In January of 2017, I went back to school. I did everything I could to fast-track my education. I took extra courses; I found a bookkeeping mentor to help support me through the process. I continued to work for my previous employer, just in a different capacity.
While in school I managed his cash deposits, banking, and I took the position of controller for one of his restaurants. He was confident that with my business knowledge and the accounting education I was working on I would be a great fit for this role, and he was not wrong! I continued in this role through school, and once I was coming to the end of my final classes I started to take over the bookkeeping of two of his other businesses.
Then, opportunity called again and I said Hello!
I went to work for a disaster restoration
company as their full charge in house bookkeeper. I have learned in depth about the construction industry, job costing, benchmarking, KPIs, year end preparations, owners’ equities, and establishing trusts and holding companies. I have learned the ins and outs of insurance companies and how to code billing, adjust for individual insurance company fees. I have managed the royalties paid to the franchise and prepared the financial documents that coincide.
I have learned to account for vehicle fleets, and depreciation schedules. This position has
allowed me to grow and develop my bookkeeping skills at a much faster rate. I still manage the finances for this company, but it was time for me to grow again.
I have finally reached the point where it is time for me to run my own business. I now come with
12 years of business experience in a multitude of different industries and six years in the
bookkeeping/accounting field. Eighteen years of experience and a business/life partner who not
only works with me to achieve goals and hit targets but supports and ignites my ambition.
MY BETTER BOOKS WAS BORN!
My Better Books offers bookkeeping solutions for entrepreneurs and businesses looking to
streamline their bookkeeping. We believe a bookkeeper should be part of your business team,
guiding you through the numbers, so you can make the right decisions for your business. With
efficient tools, software, and processes we can offer bookkeeping services that take the
pressure off, allowing you to focus on the growth and development of your business. Behind
every good business is a better bookkeeper, who not only records your financial transactions but helps you understand them. Let us work together mapping the financial path to your
business goals.
We can help you do the work you want, so you can live a life you love.
Comments