Why Every Business Needs a Bookkeeper
Do you own your own business? The hair salon of your dreams, the plumbing service you knew you could do better or the business coaching consultancy that you’ve been wanting to run for years? Now, do you work with a bookkeeper?
Running a business is harder than it seems and more work than every business owner ever imagined. The skills that allowed you to start this business are not the issue, your talent isn’t what’s keeping you up at night. Having worked with countless business owners, we know the number one issue accounting for the sleepless nights and stressful days. Your numbers. Are we wrong?
Accounting for all the receipts, staying on top of tax, tracking every single transaction, monitoring the bank feeds, keeping up with sales, expenses, salaries, the list goes on. Running a businesses finances is no small feat.
Every business, however small, needs a bookkeeper. Someone who can help you with the numbers.
Although it is possible to DIY your numbers, and we appreciate your ambition to manage things yourself, we know your skills are better used elsewhere.
A good bookkeeper will look after your day-to-day business financials, your accounting work and tracking your business for you. Allowing you to focus on the elements of the business that only you can do. Outsourcing this vital element of your business function is common and something many businesses highly recommend.
If you’ve not yet got an idea of how much a bookkeeper would benefit you, your peace of mind and most importantly your business, here are 3 reasons why every business needs a bookkeeper.
1. They give the gift of time
Unless you have a previous bookkeeping qualification that we don’t know about, we recommend you outsource the everyday work of managing your numbers to a bookkeeper.
Learning and maintaining the management of your financials involves a lot more than filing receipts and paying bills. A bookkeeper can remove the stress you carry from trying to manage this side of the business, giving you the gift of time. Time you can use to grow and better your business.
2. They’re so much more than data entry managers
You’re not alone if you don’t know what a bookkeeper really does. It is a commonly misunderstood and under-valued role. A good bookkeeper is invaluable to your business and is often the missing link between your business and your accountant.
What does an average work day look like to you? We imagine there isn’t a lot of free time available to strategically assess your finances, are we right?
A good bookkeeper gets to know your business inside and out. They are able to keep a finger on the pulse of your finances and provide powerful insights into the health of your numbers and what they mean for the future of your business.
They will show you areas of concern in your business through the numbers, highlighting what’s not working, and opportunities for growth. Their external position to your business allows for internal insight into the numbers they deal with day-to-day for you.
3. They help manage your cash flow
Above we highlighted how a bookkeeper is a missing link between your business and your accountant. Keeping an eye on your cash flow is a key benefit of a bookkeeper.
Your accountant will be able to assist you in important financial matters such as annual returns and tax issues. However, unlike a bookkeeper, they don’t see your numbers on enough of a regular basis to help steer you in the right direction. A bookkeeper can help to keep your cash flow in check and your business on track for growth.
If you’d like to know more about how working with one of our experienced and friendly bookkeepers could benefit your business and personal life, contact Pam on 07 3883 8999