Why your small business probably needs a bookkeeper
If you own a small business, there are two main reasons why you would be well-served to have a bookkeeper (or accountant) doing your bookkeeping.
Number 1 – You. You are busy doing your business. Your energy is best spent doing that. Unless you really know how to do your books, you are not serving your business as well as a bookkeeper would. That may sound obvious. You are a baker, a life coach, a videographer, an artist or whatever you’ve chosen as your livelihood. Most people decide in the early months/years to do their own books to save money. This is understandable. You figure out a system to calculate how much money you bring in through sales and services, and how much money is spent on expenses. Then you take those figures to someone who can get the taxes done by April 15th. This is a good start.
But without more detailed information about how much money you’re making and spending on a monthly and yearly basis, your business is at a disadvantage. There’s a reason why bookkeepers and accountants exist. Their purpose is to categorize and organize all the transactions that take place in your business in order to help you best utilize this information as you go forward. With monthly reports showing revenues and expenses, as well as assets, liabilities and equity, you, the owner, can make informed decisions about how to increase profits and see where your money is being spent.
Number 2-The Business. When you spend your valuable time doing the books, you take time away from your true work–and your business suffers to some extent. You and your business deserve the best bookkeeping services you can afford.
With a trusted bookkeeping professional on your team, you can maximize your business’s profits and you will have more time to do what you love, without trying to fit the bookkeeping tasks in around doing your business.