You are finally the owner of a Sole Proprietorship, Partnership, Corporation or an LLC. You have crossed many hurdles to get here -the late nights, the long days, the marketing, the strategical and business planning, even just choosing a name for your company was a big deal!
You are now ready to focus on your business but you realize that you are still bombarded by the many functions and roles you still play in order to remain operational. You finally realize that in the Start-Up Phase of a company there is no such thing as a Chief Executive Officer, instead there is the "Chief Everything Officer" - YOU.
One role that plays an important part in the success of your business is that of a bookkeeper or accountant. While you may not necessarily need or can afford an accountant, you may want to consider hiring a bookkeeper to help keep your financial records in good order. After all, every business needs to know what their bottom line is at any given point in time in order to make sound financial decisions. The reality is that you are too busy to focus on tracking financial records and transactions. Your time should be spent building your business, which means doing what you love. Let's take a look at the benefits of hiring a bookkeeper.
Hiring a Bookkeeper allows you to spend more time building your business. Also outsourcing your bookkeeping services often times cost less than hiring an in-house employee.
Reduce backlog and keep your records up to date. A bookkeeper will dedicate her time to complete any project assigned to her. After all, that's her job and she enjoys doing it so time is not an issue.
Trained Bookkeepers have accounting experience. They are less likely to make mistakes and more likely to identify errors and make the necessary adjustments or classifications timely. Remember, keeping accurate records will prepare you for filing your taxes on time.
Bookkeepers are able to decipher financial information and provide valuable advice that can enhance your daily operations.
If you operate a Partnership, problems may arise when one party is responsible for handling the financial aspect of the company. Avoid this by allowing an independent Bookkeeper to take care of the books.