How to Make Sure That You Can Afford a Bookkeeper - Our Guide
One of the main reasons some business owners do not consider hiring a bookkeeper is because they’re worried that they can’t afford it.
Doing your own bookkeeping may seem like a cost-effective way to get your accounting done, but it could actually cost you more than if you hired a professional to do it for you. Here’s why:
Time is money
The time you spend trying to learn bookkeeping and putting effort into your accounting can be better spent generating income instead. Furthermore, trying to juggle two things at once can cause you to struggle and burn out, which is also bad for business. Calculate the direct cost of doing your own bookkeeping, then ask yourself if it’s worth it to get someone else to do it for you.
Save on taxes
Bookkeeping is very important when it comes to tax season. With a professional handling your accounting, things will be done right, and any lost money will be found. A good bookkeeper will have the skills and expertise to make sure that all your expenses are tracked accurately. In addition to tracking everything according to IRS requirements, a good bookkeeper will also help you take advantage of all possible tax deductions They will also help you avoid any fines come tax time.
Get organized
With the professional taking the reins of your finances, you’ll have someone who can organize all your paperwork, will get your software together and completely set up. Getting organized is an important part of the business since it will make your day-to-day operations more convenient. Besides all the paperwork in your office, you’re probably using a lot of software for accounting. If you had previously been trying to learn to use it on your own, it’s possible your system isn’t as streamlined as it could be. Let a professional come in and completely re-organize it for you, the correct way this time.
Software
Anyone with bookkeeping experience will know how to use basic accounting software. As a business owner, learning to use it from scratch can take a lot of time and effort, so why not just let a professional take the wheel for you? Hiring a professional who already understands the software at an advanced level will allow you to use all the features to your advantage. This way, you can focus on your business while your bookkeeper keeps track of your finances.
Focus on your business
Your business is your baby; you created it, and you’re dedicating your life to it. Your main focus should be on your day-to-day tasks, not your accounting. Hire someone else to handle your finances.
Allowing a professional to focus on money matters while you’re busy with other things will make things easier for you. It will also cost you less money, effort, and time in the long run. Consider hiring a bookkeeper so that you can focus on bettering your business.
Totally Booked offers bookkeeping by QuickBooks Certified ProAdvisors based out of NYC. Get in touch today to see how we can help!