If you have your own business, you know it is extremely important to keep accurate books. Your ability to do so affects your receipt collection and debt payment processes, the taxes you pay, and ultimately the stability of your business. While hiring someone else to keep your books may seem like an extravagance, you may find that doing so may be the single most economical decision you could make. Here’s why….
Freeing Up Your Time
Bookkeeping takes time. Lots of it. If you do it yourself, you may find you’re cutting into time you could be spending meeting other important responsibilities, like acquiring customers or clients, selling your products or services, or executing your business goals.
Let’s face it: bookkeeping isn’t the most exciting activity in the world. You may find that you’re sloughing it off to evenings or weekends at home. Have you ever been working on your books only to realize your spouse or kids are waiting patiently – or not so patiently – in the next room for some quality family time? Or maybe your friends are off enjoying a concert or ballgame without you?
Hiring a bookkeeper can free up your time to concentrate on your business, your family, and your friends. Your business acumen will stay sharper in the office. You can even maximize the profit you keep by allowing a dedicated bookkeeper to better organize your finances. Overall, you’ll be happier, and you may very well see the success of your business rise as a result.
The Technology Advantage
The more your business grows, the more complex your bookkeeping may become. Eventually, you may reach a point where your old way of keeping the books no longer makes sense. You need more advanced technologies in the form of complex bookkeeping software to keep you on top of it. Problem is, that software can be very expensive.
When you hire a bookkeeper, you’re also hiring access to advanced technology. Accounting firms foot the bill for the most up-to-date software available on the market. They have to because that’s their business. Moreover, such technologies can support all kinds of business integration tools that make you work more efficiently, save you money and help grow your business more sensibly.
Small businesses need to worry about risk. In fact, when margins are small, one accounting error can have a large impact on income, tax bills or client/customer satisfaction. It’s important that you minimize errors as much as possible to keep your business stable.
Third-party bookkeepers see your ledgers with fresh eyes. They’re trained to be careful and accurate, of course. But they’re also better able to spot issues or trends that might indicate problems in your accounting methods or business model.
The 1-800Accountant Advantage
The bookkeeping professionals at 1-800Accountant can help. We combine a cloud-based bookkeeping solution with a dedicated bookkeeper to help small businesses every step of the way.
A 1-800Accountant bookkeeper understands your individual business and gives you personalized attention. Meanwhile, ClientBooks allows you to easily sync your bank accounts, send invoices, generate financial reports and upload important business documents.
It’s simple. It’s mobile. And it can keep you and your business heading in the right direction.