Bookkeeping and Boxing?

Do those really go together? While these may seem like an odd pairing they can certainly go hand in hand.

Boxing gyms, martial arts schools, fitness trainers, and gym owners—they often need bookkeeping but don’t have the time or systems.

Allow BasicLee Bookkeeping, LLC to make your life easier by taking that task off your plate. As a fellow boxer and yoga enthusiast, I understand the fitness world and I understand that bookkeeping is not where you want to be focusing your time and energy.

Here are a few things that BasicLee Bookkeeping, LLC can do for you:

1. Reconcile your gym memberships - what does this mean, you ask?

   1. It means to make sure the revenue that is recorded in your accounting software matches what was actually collected through your gym’s membership system or payment platform (like Mindbody, Zen Planner, Glofox, Stripe, or Square).

   2. The amount you collect from your customer could be different from what is actually deposited into your bank account due to processing delays, platform fees, chargebacks and refunds or even mixed payment types.

   3. Reconciling ensures the revenue shown in your books equals what actually hit your bank.

      1. Stripe, PayPal, Square, and other processors deduct fees before depositing funds. By reconciling the proper gross income minus the processing fees will then match to the net deposit of what goes in your bank.

2. Track Membership Types and Revenue

   1. Track the different services you offer: monthly memberships, classes, drop-ins, and promotions or discounts

   2. By tracking them separately, you the owner get to see what is making you money and what is not

3. Handle Failed Payments or Refunds

   1. Track the failed charges

   2. Record refunds properly

   3. Adjust income so it reflects what was actually earned, not just invoiced

It's no big deal if you don't reconcile your memberships.....or is it? If you don't, this could lead to your income reports being off or inflated. You could overpay on your taxes and NO ONE wants to pay the government anymore than they have to. Lastly, you could have a cloudy picture of your finances and that will not allow you to expand, grow or have much sanity.

At BasicLee Bookkeeping, LLC we make sure your membership data, payment processor reports, and bank statements all align. Whether you’re using Mindbody, Glofox, or spreadsheets, we clean up the numbers so you can focus on running your gym—not wrestling with reports.