We see it all the time, the business owner trying to “save money” by doing their bookkeeping themselves. Often times they don’t see the value of hiring a professional outside bookkeeper or they think their business is too small. Here are 5 reasons your business needs a bookkeeper.
5. Save money. A professional bookkeeper can SAVE YOU MONEY! Find unrealized revenue by giving you up to date and accurate accounts receivable. Your bookkeeper should set up systems to ensure timely payments from your clients/customers and in return, increasing your cash flow.
4. Financial Insights. A professional bookkeeper can give your business the financial insights you’ve only dreamed about. Budgets, Profit & loss & balance sheet reports are not just for large corporations. You need these as a business owner to tell you where you are and where you’re headed.
3. Tax time. A professional bookkeeper will make tax time BEARABLE! Imagine not having to panic every year when your taxes are due. When you have clean books through out the year, all your tax professional needs to do is look at a report.
2. Flexibility. A professional bookkeeper will work with you no matter the size of your business. No business is too small! Someone once told me, “when I make my first $100,000 I’ll give you a call”. My response was “when you make your first $100 you should call!”. Bookkeeping is simply the tracking of ALL monies in and out of your business.
1. Cost. A professional bookkeeper will clear up the myth that I hear ALL THE TIME ~ “It will cost me too much” Actually, it’s going to cost you more in the end if you do not hire a professional bookkeeper. If you are trying to do the books yourself to “save money”, how much is YOUR time worth? How much revenue are you losing out on while you are sitting in front of your computer trying to figure out Quickbooks?
In the end, your time as a business owner is much better spent working ON your business, not IN your business!
Sarah Nance ~ The All Star CEO