Penni Parker has been my saving grace for the past 8 years! I recommend her highly to any small business owner for financial planning and accounting. I own a small hair salon and was struggling with the financial aspects of running the business. Penni Parker was recommended highly by my CPA as a small business specialist working with CPA's whose clients file 1040 with a schedule C (sole proprietor or LLC). However, I did not want the additional monthly fee of an accounting person when I was doing it, and it wasn't costing me anything. It was when my CPA offered me a deal that if I had to pay any additional costs for hiring her in the first year, he would not charge me to do my tax returns that year, so what did I have to lose...nothing, so I hired her on a one-year contract, that was in 2016, 3 years after I opened my hair salon.
That was best decision I have made in my business. I ended up paying for my tax return that year because Mrs. Penni made me more money than I had made in the first 3 years of business.
First, she spent the first week of hiring her in the salon observing my financial bookkeeping methods allowing her to create many recommendations for changes. by the end of year one of hiring Penni Parker now known as The Ledger Queen she made the following changes with my approval:
She created a new checking account strictly for payroll keeping my current account for all operations. Separating out the two for easier budgeting and reporting.
She transferred my accounting method from Excel to QuickBooks changing from an accrual method to cash method.
She linked my checking accounts to QuickBooks and set up payroll eliminating my payroll service saving me 250.00 a month
She downloaded all transactions from the start of my business from my bank directly into QuickBooks and set up automated accounts that the transactions were tagged to. This allowed for reporting and auditing of the first 3 years I was in business.
She set up a POS QuickBooks system to electronically accept credit cards and payments from clients that directly integrated with my QuickBooks accounting system,
She added an audit trail through QuickBooks by creating separate logins with passwords for all employees to reconcile the sales to the payments daily through the POS system creating risk controls.
For length purposes, these are only the things she did in the first month of hiring her. After the first year I learned I am a stylist and not an accountant or finance advisor. I did not anticipate what financial knowledge you need to have to run a business. Hiring Penni Parker didn't end up costing me anything and due to the changes, she made with the financial procedures the salon made more money than it had the prior years I was doing the accounting.
I am now able to take on more clients and love going to work doing what I am passionate about allowing time for continued education in new hair cutting and coloring techniques. I also have eliminated nights and my days off because I am no longer spending so much time on the finances. I also now spending more time at home with my family with my extra time and my anxiety about the finances are gone because Penni Parker is the Ledger Queen and even corrected all my errors the first 3 years prior to hiring her. I do not ever write recommendations as it is time consuming, but after getting a bad review on the salons google listing, Penni added at the bottom our receipts asking to please leave a google review and you will receive $5 off your next salon service and people stated leaving reviews, we have gotten so many new clients based off of reviews. So, I was compelled to write a review for Penni Parker and her company, the Ledger Queen because she has done more for the financial success of my salon than anyone. In 2025 we plan to expand with our new financial plan, so she merits this long review recommending her to every small business owner with details on how hiring an accounting person you can trust will enhance your profits and give you more time to do what you are best at! read more
