Top Ten Bookkeeping Mistakes

How valuable is your time?

What else could you be doing to grow your business instead of doing your own book-keeping? A plumber may earn $80 per hour, but he can’t earn that if he’s spending 4 hours doing something that may take a professional bookkeeper less than half that.

So he has to weigh up $320 of lost income vs. $100.

When to Outsource

In fact, Hanson-O’Reggio recommends entrepreneurs outsource non-essential functions almost immediately upon launching a business to let them focus on the functions they specialize in. “The expected return is greater than the investment,” she says. She and other outsourcing experts offer the following tips for determining the expected return for your business.