"While I'm waiting for the cupcakes to finish baking, I'll upload a receipt or do my daily rec on my phone!"
John Pinkerton @ThatOneCupcake
What’s the story behind That One Cupcake Place? What do you love about your business?
My wife opened a cupcake stand at our local farmer’s market in 2011 and I helped her out. About a year later, we moved to an indoor, year-round farmer’s market that serves as a business incubator. It was around this time that a lot of things started happening really fast, so we decided to hire a professional to handle our accounting.
Can you describe your working relationship with your accountant?
Our accountant handles anything and everything related to the businesses’ finances and I usually just reach out to him through email when I have a question.
I’ve been using Xero independently of him this quarter, mostly for bank reconciliation. I'm planning on surprising him with this next week and getting his feedback on how I’ve done. My plan going forward is to do the bookkeeping on my own, and have my accountant do a quarterly review before I submit everything to the taxman.
What are your initial thoughts on the Xero and Square integration?
It’s slick! I’ve spent the last week reconciling our Square transactions for the whole quarter in Xero and it’s been that simple. I’m doing half of it from my phone. It’s great that I can use Xero anytime, wherever I am. I like using cool tools like Xero and Square as it makes the business easier to run and saves me lots of time.
When do you find time to do the bookkeeping?
I do it mostly from my phone because I normally find time while the cupcakes are baking or while I’m out and about. If I have a couple minutes before the cupcakes need to come out of the oven, I’ll reconcile some transactions. Or if I go out to pick up lunch, I’ll upload a couple of receipts using Xero Touch while I’m waiting.
Prior to the integration, how did you feed your Square transactions into your ledger?
I would go into Square and run a report for the time period needed. Then I would have to export it from Square and email it to my accountant. He would upload the data, run some numbers, and I would have to wait to get an updated income statement and balance sheet. With the integration, it’s easy enough to do on my own.
How has the integration with Xero and Square helped you?
I am very happy with it. It’s slick, it’s quick, and it’s on my time instead of waiting for someone else to do it on their time. That’s great for me because like I said, sometimes it’s 3am and I’m waiting for cupcakes and I can do what I need to do. It’s been a huge time saver. It allows me to focus more on running the business or just to take a few more minutes for myself.
How did you go about setting up Xero?
It was all me and the Xero Community. I figured everything out by reading about other people’s experiences and searching Google whenever I had a question. A lot of the time, Google took me back to the community and I’d see that someone had already asked the same questions and might have a couple different solutions. Overall, it was super easy.