Hiring a professional bookkeeper to help you with your business is not only smart but necessary. There are many reasons why keeping accurate records of your expenses and income can be difficult for any small business. This blog post will outline the benefits of hiring a bookkeeper.
You Don’t Know QuickBooks
It can be difficult to keep up with your business’s finances if you don’t know how to use accounting software like QuickBooks. This is especially true for bookkeeping because of the complex and tedious nature of keeping records that are necessary in order to file taxes, receive loans, or apply for grants. If this sounds intimidating then it might not be a bad idea to hire a bookkeeper as they’ll make sure all of the numbers add up correctly while saving you time on figuring out what needs to be done.
You’re Too Busy
Running your own small business means being constantly overwhelmed by everything there is do – from finding new clients to marketing strategies, revenue generation, staff management, and payroll. When you’re not able to find the time or energy to keep records of your business’s finances, it might make sense for you to hire a professional bookkeeper who can do all of this work on your behalf.
You’re Not a Numbers Person
If you are a person who is not good with numbers, then the time spent learning about bookkeeping and accounting can be too much. With an experienced professional handling your books, you’ll have more time for other tasks as well as peace of mind that everything will get done correctly.
It’s Easy to Make Mistakes
Relying on your own accounting skills can be a risky proposition because there is no one to double-check your work. Even the smallest mistake could have significant consequences for you and your business, which is why hiring an experienced bookkeeper who knows what they’re doing is worth every penny.
You’ll Have Less Paperwork
A professional bookkeeper will create and maintain all of the records, filing taxes as necessary. You’ll have less paperwork to do now which means you can spend more time on your business’s day-to-day operations or use that extra time for other important tasks such as marketing.
You’ll Know Your Financial Position
A bookkeeper will compile the financial information from your business and make regular reports to you. You’ll have instant access to a detailed snapshot of what is happening with your money on any given day, month, or year.
If you’re starting a new business, it’s a good idea to take advantage of a bookkeeper from day one. The best way for any company to grow is by taking care of its money well in advance so that there are no surprises down the road when decisions need to be made regarding investments or expansion plans.
You’ll Get Help With Taxes and Payroll
A professional bookkeeper will also make tax time easier because all the information is compiled and ready for filing. This means you won’t need to spend hours going through receipts, invoices, or other financial documents trying to determine what needs to be done.
It’s Much Cheaper Than an Accountant
Most accounting professionals charge anywhere from $50 to $150 per hour, which can quickly add up. Bookkeeping services are usually around 20-25% of this amount because the time spent is on record keeping and compilations as opposed to developing strategies or doing research.
You Won’t Have to Worry About Bills or Deposits
A bookkeeper will make sure that all the bills are paid on time and deposits made. You’ll never have to worry about forgetting an invoice or making a deposit because your business is in good hands with someone who has experience handling these types of tasks every day.
You’ll Be Able to Focus
The most successful businesses know that it’s important for their owners or managers to keep doing the things they’re good at. When your bookkeeper takes care of all those nitty-gritty details, you can spend more time putting together a strategy and making sure every aspect of your business is running smoothly. That way, when there are any issues or problems with accounting, taxes, or finances – you will have people handling them who are experts in these fields.
If you’re serious about running your business, having a professional bookkeeper on board is one of the best investments that will yield long-term results. We help with all aspects of accounting and financial management so that you can concentrate on what matters most to your company’s success while knowing everything is being taken care of behind the scenes.
Contact us today for more information or to schedule an appointment with one of our experts at 212-249-3666.